Goldeye Explorations Limited

Goldeye Explorations Limited

August 15, 2011 09:00 ET

Goldeye Announces New CEO and Changes to the Board of Directors

TORONTO, ONTARIO--(Marketwire - Aug. 15, 2011) - Goldeye Explorations (the Company) (TSX VENTURE:GGY) is pleased to announce that Mr. Jorma Hannila, P. Geo., is joining the Company as CEO and will be responsible for directing and coordinating the exploration and development of Goldeye's properties. Mr. Hannila was recruited by Blaine Webster and the Board of Directors in ongoing efforts to realize the full potential value of our properties.

Mr. Hannila graduated in 1970 with an Honours degree in Geology from Laurentian University and has been involved in the discovery of new ore bodies at Casa Berardi, Quebec, and Thompson, Manitoba, while directing and managing surface and underground exploration programs for Inco Limited. He has 35 years of experience in gold, base metals and uranium exploration in Canada, USA, Mexico, Europe and Africa and was General Manager for 6 years in Turkey responsible for Inco's programs in Turkey, Asia and the Middle East. Since 2005 he has worked as a private consultant to mining exploration companies.

Mr. Hannila stated, "I believe that Goldeye is poised for spectacular growth. Tyrrell, Sonia-Puma and Sandy Lake all have the potential to host one or more gold deposits. What is required now is a well-planned, well-executed and aggressive exploration program for each project to turn that potential into producing gold mines. I am excited to be part of this next phase and look forward to sharing good news with our shareholders."

We welcome him to Goldeye and look forward to his heading up the team that will drive the Company forward to develop our significant and well-placed properties.

Goldeye is also pleased to announce that Mr. Brian Howlett has agreed to join our Board of Directors. Mr. Howlett brings over 25 years of senior financial management experience to the Company. Mr. Howlett graduated in 1982 with a B.Com. in finance from Concordia University and received his CMA designation in 1989. He has gained valuable experience with numerous industries throughout his career, including corporate restructuring. He spent 6 years as the CFO of ELI Eco Logic Inc., a TSX listed company and four months as CFO with Dumont Nickel Inc., a Venture Exchange listed company. Since 2009 he has worked as a consultant in accounting and finance.

Mr. Richard Dean who is currently a director of the Company will assume the position of Chairman of the Board while Mr. Blaine Webster, P. Geo., will remain as President and provide support and the technical guidance that has served the Company so significantly over the years.

On Behalf of Goldeye Explorations Limited



Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining (Canada and Chile). Goldeye's approach is to advance precious metal deposits to the development stage, employing, in part, technically advanced geophysical techniques and occasionally joint venture funding. The qualified person (within the meaning of National Instrument 43-101) who read and approved this press release for Goldeye is Blaine R. Webster.

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Forward Looking Statements:

This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

Neither the 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.

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