Goldeye Explorations Limited

Goldeye Explorations Limited

November 29, 2006 17:30 ET

Goldeye Private Placement

TORONTO, CANADA--(CCNMatthews - Nov. 29, 2006) - Goldeye Explorations Limited (Goldeye) (TSX VENTURE:GGY) wishes to announce that it has arranged to complete a non-brokered private placement for proceeds of $200,200 pursuant to the "Accredited Investor" exemption in accordance with NI 45-106, subject to acceptance by the TSX Venture Exchange. 1,820,000 flowthrough units of Goldeye are to be issued at a price of $0.11 per unit. Each unit consists of one flow-through common share and one-half of a transferable non-flow-through common share purchase warrant. Each whole non-flow-through common share purchase warrant entitles the holder to purchase an additional common share for two years at $0.20 per share for a two year period. The securities are subject to a four month hold period.

All proceeds will be used for mineral exploration on Goldeye's Canadian mineral properties qualifying as Canadian Exploration Expense (CEE) under the Income Tax Act (Canada) enabling the subscriber to obtain applicable tax credits and deductions.

Goldeye is a mineral exploration company acquiring, exploring and advancing properties in Canada and Chile. The Company is currently drilling in Tyrrell Twp., NE Ontario. The Company's other properties are situated in B.C. (Todd Creek, Stewart gold camp), Region V of central Chile, Northwestern Ontario (Sandy Lake, Gold Rock) and Fawcett Twp., NE Ontario.

Shares issued prior to this private placement: 38,640,674

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

Contact Information

  • Goldeye Explorations Limited
    B. Webster
    C.E.O and President
    905-731-9312 (FAX)