Goldeye Explorations Limited TSX VENTURE: GGY

TORONTO, ONTARIO--(Marketwire - Dec. 10, 2008) - Goldeye Explorations Limited ("Goldeye" or "The Company") (TSX VENTURE:GGY) is pleased to announce that it has commenced a 2,000 meter drill program on the Big Dome and Hydro Creek gold zones located 90 km south of Timmins in Tyrrell Twp. following recommendations by Strathcona Mineral Services Limited in their Technical Report (December 2007) on the Tyrrell gold project.

On the Big Dome target, several holes will be drilled to test the western extension of high-grade veins intersected in holes G-98-09 (1.4 m grading 149 g/t gold (Au)) from 271.2 to 272.6 m, G-05-22 (2.1 m grading 217 g/t Au) from 199.5 to 201.6 m and hole G-23 (2.1 m grading 80.7 g/t Au) from 377.2 to 379.3 m. The high-grade gold mineralization occurs on the footwall and hanging wall of a porphyry intrusive that has a strike length of 600 m. Previous holes have intersected significant gold mineralization 150 metres to the west of hole G-05-23: hole G-98-08 intersected 3.3 g/t Au over 4.0 metres core length and 450 metres further west, hole G-98-12 intersected 3.2 m grading 3 g/t Au.

The Hydro Creek zone is located 1.5 km to the west of the Big Dome target. Several holes will be drilled to test the depth extent of the Hydro north zone where a channel sample returned 21 m grading 5.7 g/t Au. Hole H-03-06 intersected 9.4 m grading 7.2 g/t Au below the channel sample.

Hydro Creek now has three geological environments in close proximity that host gold mineralization within an area measuring 500 metres vertically and horizontally, demonstrating that the mineralizing system is large and is focused where a splay fault intersects the Tyrrell Shear zone at the southern edge of a syenitic intrusive.

Hole HC-22 at Hydro Creek intersected 0.33 g/t Au over 63 m in highly altered syenite porphyry, with shorter intervals reporting up to 2.6 g/t Au over 1.5 m, at a vertical depth of 400 metres. The gold mineralization is associated with disseminated pyrite, as well as silicification and carbonate alteration. The drill hole tested the area where the Tyrrell Shear Zone intersects the syenite porphyry, and the alteration and mineralization of the porphyry resembles rocks carrying gold in the Kirkland Lake camp and other gold camps. Bore-hole geophysical surveys indicate a large volume of sulphide-mineralized porphyry to the northeast of the area drilled at Hydro Creek and the current drill program will attempt to extend the mineralization encountered in the altered syenite porphyry. Other holes have been recommended to test the southern extension of the Hydro Creek zone where hole HC-23 intersected 7.5 m grading 6.2 g/t Au at a vertical depth of 290 metres, 200 metres east of hole HC-22.

Blaine Webster, P.Geo., President, is the designated Qualified Person as defined by National Instrument 43-101 who is responsible for the preparation of this news release.

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