Goldeye Explorations Limited

Goldeye Explorations Limited

March 16, 2010 10:59 ET

Goldeye to Add Second Drill to Tyrrell Project Gold Exploration

TORONTO, ONTARIO--(Marketwire - March 16, 2010) - Goldeye Explorations Limited ("Goldeye" or the "Company") (TSX VENTURE:GGY) is pleased to announce that it has arranged for an additional diamond drill for its Tyrrell Township gold exploration in the Shining Tree area of northeastern Ontario. This drill will be used to expand the original program from 4,000 metres to 6,000 metres. The work will provide a more comprehensive testing of the gold-bearing Big Dome and Hydro Creek area targets which have been identified along and adjacent to the Tyrrell shear zone, a structure which is analogous to the Larder Lake – Cadillac Break, source of significant production of the Kirkland Lake – Larder Lake area in Ontario. Goldeye claims in Tyrrell Township cover a portion of the southwestern Abitibi greenstone belt that is underexplored due to the Land Caution in effect from 1973-1990.

The initial drill was mobilized to the property late in February, with results expected to be available for reporting shortly. As previously reported (Goldeye news release, March 3, 2010), this drill is following-up on the late 2009 drilling program in which hole 41 intersected 4.97 g Au/t over 3.0 metres in the West Iron Formation Zone and hole 42 intersected 6.12 g Au/t over 4.43 metres in the East Extension Target. The down plunge extension of the Lacarte North Zone in the Hydro Creek area is also being investigated by this drill, as will other gold mineralization associated with the Tyrrell shear zone.

About Goldeye

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, technologically advanced geophysical techniques and occasionally joint venture funding.

The Qualified Person who has read and approved this press release is Blaine R. Webster, P.Geo., President and C.E.O. of Goldeye Explorations Limited.

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

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