Goldeye Explorations Limited
TSX VENTURE : GGY

Goldeye Explorations Limited

November 13, 2014 08:00 ET

Goldeye Explorations Limited Announces Completion of First Tranche of Private Placement

TORONTO, ONTARIO--(Marketwired - Nov. 13, 2014) - Goldeye Explorations Limited (TSX VENTURE:GGY) ("Goldeye" or "the Company") is pleased to announce the completion of the first tranche of a partially brokered private placement. $158,000 was received from the sale of 3,160,000 units at $0.05 per unit. Each unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one additional common share for 24 months at a price of $0.10 per share.

Goldeye paid $5,250 in finder's fees (7%) and issued 105,000 agent's broker warrants in connection with the brokered portion of this closing. All of the securities will be subject to a four month hold period.

The proceeds of the offering will be used to pay the expenses of the offering, general and administrative expenses, working capital and to fund further exploration and development on the Company's 100% owned Weebigee Project near Sandy Lake, Northwestern Ontario.

On behalf of the Board of Directors,

Blaine Webster, P.Geo., Chief Executive Officer

About Goldeye Explorations

Goldeye Explorations Limited is a Canadian junior exploration company focused on advancing its flagship Weebigee (pronounced WEE-be-GEE) Project, located near Sandy Lake in Northwestern Ontario.

Recent drilling at Weebigee (23 holes totaling 2,219 metres) confirmed the presence of significant high-grade gold mineralization in the Northwest Arm claim block. Highlights included: 12.86 g/t Au over 6.85 metres core length in hole BK-14-03 (Bernadette Zone), 12.45 g/t Au over 3.5 metres core length in hole BK-14-05 (Knoll Zone), and 23.15 g/t Au over 3.97 metres core length in hole BK-14-18 (RvG4 Zone). Visible gold was noted in 50% of the drill holes. The Northwest 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.

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.

Comprehensive project information including drill logs and sections can be found on Goldeye's website 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