Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited

July 24, 2014 08:00 ET

Goldeye Appoints Roland Horst to Board of Directors

TORONTO, ONTARIO--(Marketwired - July 24, 2014) - Goldeye Explorations Limited (TSX VENTURE:GGY) ("Goldeye" or "the Company") is pleased to announce that it has appointed Mr. Roland Horst to the Board of Directors of the Company, effective immediately.

Mr. Horst has 40 years of mining industry experience as a chief executive officer ("CEO"), investment banker, corporate banker and geologist, including over 15 years as a CEO of both public and private companies involved in mining production, development and exploration in Canada, Brazil, Spain and Chile.

Mr. Horst is a director of Wallbridge Mining Company Limited, Victory Nickel Inc. and CBay Minerals Inc. He was previously CEO of CBay, Orvana Minerals Corp. and Royal Nickel Corporation. Before Royal Nickel, Mr. Horst was President and CEO of International Nickel Ventures Corporation, Vice President, Business Development for FNX Mining Company Inc. and President of Aurora Platinum Corp. He was also formerly CEO of Aeroquest Limited and Scintrex Limited. Mr. Horst has experience in investment banking as head of the Mining Group at Nesbitt Thomson, Co-Head of the Mining Group at Richardson Greenshields, and as a mining corporate banker with the Bank of Montreal. He started his career as an exploration geologist with INCO.

Mr. Horst holds a Masters in Business Administration from the Richard Ivey School of Business Administration, University of Western Ontario, a Bachelor of Law (LLB) from the University of Western Ontario, a M.Sc. in Geology from Laurentian University and a B.Sc. in Geology from McGill University. Currently, he is on the Leadership Council of Western and on the advisory board to the Goodman School of Mines at Laurentian University. Mr. Horst holds an ICD.D designation granted by the Institute of Corporate Directors through the ICD - Rotman Directors Education Program.

Blaine Webster, President and CEO of Goldeye, comments: "I am extremely pleased to have Roly join Goldeye's Board of Directors, and would, on behalf of the entire Board, like to extend him a warm welcome. Roly's impressive background and wide-ranging skillset make for a significant addition to the Goldeye team. Goldeye's Weebigee project has all the characteristics of a potential major discovery and I am excited to work with Roly on moving it forward."

Roland Horst comments, "Blaine and I worked together at INCO exploration and we have kept in touch over the years. I have been impressed with what Blaine and his team have accomplished and am looking forward to contributing to the Goldeye team."

Effective with the appointment, Mr. Horst has been granted options to purchase 250,000 common shares of the Company exercisable at a price of $0.10 per share for a period of 3 years. The grant is subject to any further required regulatory approvals.

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 227 kilometres north of Red Lake in Northwestern Ontario and comprises 363 claims totaling approximately 6,000 hectares. The NW Arm claim block covers approximately 20% of the total project area and hosts the highest density of gold showings in the Sandy Lake Greenstone Belt.

During February and March 2014, Goldeye completed its planned phase 1 drill program at Weebigee. Twenty-three holes were drilled in the NW Arm area for a total of 2,219 m. The program confirmed the presence of significant gold mineralization at the Knoll, Bernadette and RvG4 Zones. Highlights included: 12.86 g/t Au over 6.85 metres core length in hole BK-14-03 (Bernadette), 12.45 g/t Au over 3.5 metres core length in hole BK-14-05 (Knoll), and 23.15 g/t Au over 3.97 metres core length in hole BK-14-18 (RvG4). Visible gold was noted in 50% of the drill holes.

The project is adjacent to Sandy Lake First Nation (population approx. 3,000) which has excellent infrastructure including an airport with daily direct flights to Winnipeg, Red Lake and Sioux Lookout and winter road connection to Red Lake. All weather access roads are located within one kilometre of the Knoll, Bernadette and RvG4 areas. In November 2013, Goldeye and Sandy Lake First Nation signed a comprehensive Exploration Agreement in regards to the project. Goldeye is pleased to have a strong, mutually beneficial relationship with the people of Sandy Lake First Nation.

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. There are 43,053,597 common shares of Goldeye issued and outstanding.

Additional information can be found at www.goldeye.ca.

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