Tribute Minerals Inc.

Tribute Minerals Inc.

May 01, 2008 08:00 ET

Tribute Minerals and Goldeye Explorations Receive Positive Analysis of Airborne Data and Acquire Further Ground in the 'Ring Of Fire'

TORONTO, ONTARIO--(Marketwire - May 1, 2008) - Tribute Minerals Inc. (TSX VENTURE:TBM) and Goldeye Explorations Limited (TSX VENTURE:GGY) are pleased to jointly announce that they have received the interpretation of the VTEM airborne geophysical data and that positive targets have been outlined. The companies are also pleased to report that further ground has been staked in the region.

Upon reviewing the EM conductors, the interpretation shows two very good magmatic sulphide targets and two excellent volcanogenic massive sulphide targets. The data also identified several other conductors which exhibit geophysical characteristics that require follow-up with more detailed ground geophysics.

Some of the new claim blocks have been staked adjacent to land held by Noront and KWG/Spider. Total land holdings in the James Bay lowlands, McFaulds Lake, 'Ring of Fire' now total 17,792 hectares.

The Joint Venture is selecting the top priority targets for ground geophysical surveying in order to prepare these projects for drilling. Further claims may be staked in the 'Ring of Fire' based on the continued interpretation of geophysics and ongoing data acquisition.

Blaine R. Webster, President and CEO of Goldeye, and William S. Hamilton, P. Geo., geological consultant, are the qualified persons as defined by National Instrument 43-101 who supervised the preparation of the technical information contained in this release.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

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

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