Tribute Minerals Inc.

Tribute Minerals Inc.
Goldeye Explorations Limited

Goldeye Explorations Limited

June 25, 2008 11:35 ET

Tribute Minerals and Goldeye Explorations Form McFaulds Resources Inc. for Exploration in the 'Ring and Fire'

TORONTO, ONTARIO--(Marketwire - June 25, 2008) - Tribute Minerals Inc. (TSX VENTURE:TBM) and Goldeye Explorations Limited (TSX VENTURE:GGY) are pleased to jointly announce that they have rolled their respective interests in their land holdings in the James Bay Lowlands, McFaulds Lake area 'Ring of Fire' (the "Property") into a new company known as "McFaulds Resources Inc." ("MFR") Each of Tribute and Goldeye retained a 1% NSR in the Property and each hold 14,000,000 common shares of MFR. The directors of MFR will be Ian Brodie-Brown, William R. Johnstone, Richard Dean, John Harvery, Richard Nemis and Blaine Webster, who will be Chairman of the board of directors. The officers will be Ian Brodie-Brown, President and CEO, Errol Farr, CFO, Trevor Boyd, VP Exploration, and William R. Johnstone, Corporate Secretary.

MFR will be seeking financing by way of an equity private placement of between $6,000,000 and $12,000,000 for further exploration of the Property. It is intended that MFR will file a prospectus to take MFR public as soon as a National Instrument 43-101 technical report is completed, to, among other things, qualify the distribution of 8,000,000 common shares of MFR to the shareholders of Tribute (from its 14,000,000 shares of MFR) and 8,000,000 common shares of MFR to the shareholders of Goldeye (from its 14,000,000 shares of MFR) by way of a dividend in specie.

MFR will hold 17,792 hectares in the James Bay Lowlands, McFaulds Lake, 'Ring of Fire', with additional staking currently in progress. Helicopter airborne electromagnetic surveys (VTEM), flown on one half of the land package have identified numerous Cu/Ni and Cu/Zn targets.

Blaine R. Webster, P. Geo., President and CEO of Goldeye, is the qualified person as defined by National Instrument 43-101 who supervised the preparation of the technical information contained in this release.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

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

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