Goldeye Explorations Limited

Goldeye Explorations Limited

March 15, 2005 11:02 ET

Goldeye Raises Funds for the Sonia/Puma Property in Region V, Central Chile Which Assayed 5m of 7.75g/t Au with 218g/t Ag and 11m 0.74g/t Au and 284 g/t Ag


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GOLDEYE EXPLORATIONS LIMITED

TSX VENTURE SYMBOL: GGY

MARCH 15, 2005 - 11:02 ET

Goldeye Raises Funds for the Sonia/Puma Property in
Region V, Central Chile Which Assayed 5m of 7.75g/t Au
with 218g/t Ag and 11m 0.74g/t Au and 284 g/t Ag

TORONTO, ONTARIO--(CCNMatthews - March 15, 2005) - Goldeye Explorations
Limited (TSX VENTURE:GGY) ("Goldeye ") wishes to announce that field
work on the Sonia project in central Chile will commence in about two
weeks. The program will consist of road construction and sampling the
3km long north-north-east striking Sonia-Vinchuca vein system.
Exploration will be focused on veins parallel to the main structure
occurring over an east-west distance of 700m in the Sonia area and on
the Sonia vein and its extensions.

In other news, Goldeye has arranged a non-brokered private placement on
March 7, 2005, with one arms length subscriber for gross proceeds of
$75,000 subject to the acceptance of the TSX Venture Exchange. 500,000
units will be issued at a price of $ 0.15 per unit, each consisting of
one common share and one common share purchase warrant that may be
exercised for two years to purchase a non flow-through common share for
$0.20 a share.

The proceeds of the private placement will be used to fund the
exploration program on the Sonia project.

Gerald Harron, P. Eng., is the qualified person responsible for the
technical information contained in this release.

Goldeye is a Canadian exploration company with projects in Region V of
central Chile, Northwestern Ontario (Sandy Lake, Gold Rock) and
Northeastern Ontario (Tyrrell Project). Goldeye will have 26,775,681
issued and outstanding shares following the offering.

Goldeye's web-site address is http://www.pathcom.com/%7Egoldeye

Note: We have replaced the tilde symbol with '%7E' in the above URL.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Goldeye Explorations Limited
    Blaine Webster
    Chairman and C.E.O.
    (905) 731-9367
    (905) 731-9312 (FAX)
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.