Goldeye Explorations Limited

Goldeye Explorations Limited

December 16, 2009 17:31 ET

Goldeye Explorations Limited Completes Private Placement

TORONTO, ONTARIO--(Marketwire - Dec. 16, 2009) - Goldeye Explorations Limited (TSX VENTURE:GGY) is pleased to announce the completion today of the first tranche of a non-brokered arm's length private placement for proceeds of $80,000. A total of 1,000,000 units were issued at a price of $0.08 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share at $0.12 per share for a two year term. The securities are subject to a four month hold period.

The proceeds of the financing will be used for general and administrative purposes and to finance mineral exploration on Goldeye's mining properties.

An extended 4,000-meter drill program on Goldeye's Tyrrell Township property has been completed on the Big Dome gold zone. Goldeye is awaiting assays and expects to compile and issue results shortly in the New Year.

There are 117,030,245 common shares of Goldeye issued and outstanding following this private placement.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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