Goldeye intersects gold-bearing zones, explores further

2010-08-24 11:28 ET - News Release

Mr. Blaine Webster reports

GOLDEYE INTERSECTS WIDE GOLD-MINERALIZED ZONES, UPDATES EXPLORATION, SHINING TREE PROJECT

Goldeye Explorations Ltd. has released the results of its most recent drilling program, its report on its planned exploration and its report on exploration in the immediate area of the Goldeye claims.

HIGHLIGHTS FOR THE AREA OF THE GOLDEYE CLAIMS
----------------------------------------------------------------------------

--  Goldeye's intersection of wide gold-bearing zones in its 2010 drilling
    program.
--  Goldeye's completion of a program of trenching, channel sampling, and
    mapping on the West Iron Formation (Big Dome), and on an induced
    polarization anomaly approximately one kilometre north of the Tyrrell
    Shear Zone at the Big Dome area.
--  Interpretations of 3D borehole induced polarization inversions showing
    that chargeability emanating from gold-associated sulphides is extending
    to an estimated depth of one kilometre on the Big Dome and Hydro Creek.
--  Goldeye's planning for the linecutting of a 60 kilometre grid which will
    cover about one kilometre of the west extension of the Tyrrell Shear,
    and potentially 3.5 kilometres of the South Shear from the Juby JV
    ground, where several gold showings occur.
--  Creso Exploration's continued drilling of the Minto Occurrence within 80
    metres of the ground optioned from Goldeye, in which Goldeye retains a
    minimum 25% interest carried to production.
--  Juby Joint Venture's (60% Temex Resources, 40% Goldeye) positive surface
    exploration results include induced polarization anomalies approximately
    600 metres east of the Creso high grade drilling results reported as
    18.2g Au/t over 65.7 metres and 13.3g Au/t over 82.5 metres (Creso News
    Releases June 9, 2010 and August 9, 2010); rediscovery of a shear zone
    subparallel to the Tyrrell Shear, approximately 500 metres south of the
    Juby deposit lease, trending onto Goldeye claims; and identification of
    gold-in-soil anomalies, some of which are coincident with induced
    polarization anomalies (Temex News Release, August 17, 2010).
--  Temex' report (News Release, June 15, 2010) on the Juby Main Zone of a
    NI 43-101 compliant mineral resource inventory of 614,000 ounces of gold
    in the indicated category and 602,000 ounces of gold in the inferred
    category. The deposit is located 3.5 kilometres along the strike of the
    Tyrrell Shear from the large Goldeye block which overlies approximately
    five kilometres of the shear zone.