Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited

October 08, 2013 08:00 ET

Goldeye Announces Formation of Technical and Corporate Advisory Board

TORONTO, ONTARIO--(Marketwired - Oct. 8, 2013) - Goldeye Explorations Limited (TSX VENTURE:GGY) ("Goldeye" or "the Company") is pleased to announce that it is has formed an advisory board which will provide technical and corporate input to the Company as it moves forward with exploration and drilling at its Weebigee project near Sandy Lake in Northwestern Ontario. The first appointment to the advisory board is Mackenzie (Mac) I. Watson.

Blaine Webster, President and CEO of Goldeye comments: "We are very pleased that Mac is the first member of Goldeye's advisory board. I have known Mac for over 30 years and his record of success speaks for itself. Weebigee holds the potential to be an exciting new discovery in Northwestern Ontario and we look forward to working with Mac as we take the project to the next stage."

Mackenzie I. Watson

Mr. Watson has over 45 years of exploration experience. He was awarded Canada's Prospector of the Year Award in 1991 and 2009 and the Quebec Prospector of the Year Award in 1992 for his participation in the discovery of numerous mineral deposits in Eastern Canada. The discoveries include the Icon Sullivan copper mine, the Ellison gold deposit, the Hébercourt copper deposit and the Pusticamica and Verneuil gold deposits in Quebec. He was also involved in the discovery of the Harker Holloway gold mine and, recently, the Black Thor chromite deposit in Ontario's Ring of Fire.

Goldeye has granted Mr. Watson 200,000 options expiring October 8, 2016 to purchase common shares of the Company at an exercise price of $0.15 per share. The grant is subject to any further required regulatory approvals.

The Company anticipates making additional appointments to the advisory board in the near future.

On behalf of the Board of Directors,

Blaine Webster, P.Geo., President and CEO

About the Weebigee Project

Goldeye's 100% owned Weebigee Project is located near Sandy Lake, 227 kilometres north of Red Lake in Northwestern Ontario, and is comprised of 343 claim units totaling 5,488 hectares. The project covers many of the gold and base metal showings in the Sandy Lake Greenstone Belt.

Goldeye's summer 2013 sampling program at the NW Arm claim block returned significant gold values (see press release dated September 5, 2013) including 43.5 g/t at the Bernadette gold showing, 34.1, 22.0, 20.9, and 18.3 g/t at the Knoll gold showing and 17.5 g/t at the Wavano gold showing.

A follow-up program of mapping and additional sampling at Weebigee is planned for mid-October, after Sandy Lake First Nation's traditional hunting week. The program will enable Goldeye to finalize drill targets and select collar locations for the winter drill program.

About Goldeye

Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions having long traditions of mining. Weebigee is Goldeye's flagship project. In Canada, Goldeye also holds a 24.5% interest in the Todd Property in British Columbia's Golden Triangle, a 100% interest in the Gold Rock, and West Shining Tree properties in Ontario and additional claims in Tyrrell Twp. In Chile, Goldeye owns 100% of the Sonia-Puma property located 180 km north of Santiago.

FORWARD LOOKING STATEMENTS

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Such statements include the following: "A follow-up program of mapping and additional sampling at Weebigee is planned for mid-October", "The program will enable Goldeye to finalize drill targets and select collar locations for the winter drill program", and "The Company anticipates making additional appointments to the advisory board in the near future". Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Goldeye Explorations Limited
    Blaine Webster, P.Geo.
    President and CEO
    416-315-9708
    bwebster@goldeye.ca

    Goldeye Explorations Limited
    Robin Luke Webster
    Manager, Corporate Affairs and Community Relations
    416-877-6389
    rwebster@goldeye.ca