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Goldeye Appoints Doug Willock as Chairman of the Board of Directors

TORONTO, CANADA -- (Marketwired) -- 05/08/14 -- Goldeye Explorations Limited (TSX VENTURE: GGY) ("Goldeye" or "the Company") is pleased to announce that it has appointed Mr. Doug Willock to the Board of Directors of the corporation effective immediately. Mr. Willock has been appointed to fill the vacancy created by the increase in the number of directors from four to five and will assume the role of Non-Executive Chairman. Mr. J. Richard Dean, previously Acting Chairman of the corporation, will remain as a Director.

Blaine Webster, President and CEO of Goldeye, comments: "We are thrilled that Doug has agreed to serve as Chairman of the Board. I have worked with Doug in various capacities over the years and look forward to working closely with him as we advance our flagship high-grade Weebigee project through the discovery stage. Doug has an excellent track record and an extensive network of corporate and industry contacts built over a career in corporate finance. He will be a tremendous asset to Goldeye as the Company moves to increase awareness of its Weebigee project - both the significant high-grade drill results received to date and the tremendous future potential - within the investment community. I would also like to thank Richard Dean for the immense contribution he has made to Goldeye during his time as Acting Chairman and know that Goldeye will benefit from his continued efforts as Director."

During a 30 year career in corporate finance, Mr. Willock has worked for several top Canadian and international investment banks. He also has significant hands-on experience in managing companies in the junior resource sector. Mr. Willock joins Goldeye having recently left the CFO role at a junior Brazilian mining company after completing a corporate restructuring where he and his colleagues eliminated $268.5 million in debt and secured $80 million in new project funding. Prior to that, he served as President and Chief Executive Officer of Polar Star Mining Corporation and he is currently a Director and Chairman of the Audit Committee for Orestone Mining Corp.

Mr. Willock holds a Master of Business Administration degree with a major in finance from the Richard Ivey School of Business, Western University and a Bachelor of Arts (History) degree from the University of British Columbia. He attended the Beijing Language Institute on a joint Government of Canada and China scholarship from 1976 to 1977.

Doug Willock comments, "I am very excited to join Goldeye now as it advances the discovery at Weebigee. The support the Sandy Lake First Nation community provided over the last year helped to make the drill campaign a success and demonstrated Goldeye's engagement with the community is being reciprocated. My existing working relationships with both Blaine and Mac Watson, as well as my knowledge of Goldeye's properties, made the decision to join Goldeye an easy one. I very much look forward to the results from this next phase of exploration as the prospectivity of Weebigee is daylighted by building on a conservative, financially prudent approach to discovery."

Effective with the appointment, Mr. Willock has been granted options to purchase 300,000 common shares of the Company at an exercise price of $0.12 per share for a period of 3 years. The grant is subject to any further required regulatory approvals.

On behalf of the Board of Directors,

Blaine Webster, P.Geo.

President and CEO

About Goldeye

Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions having long traditions of mining. Weebigee is Goldeye's flagship project in Canada. Goldeye also holds a 24.5% interest in the Todd Property in British Columbia's Golden Triangle, a 100% interest in the Gold Rock and West Shining Tree properties in Ontario, and additional claims in Tyrrell Twp. In Chile, Goldeye owns 100% of the Sonia-Puma property located 180 km north of Santiago.

About the Weebigee Project

Goldeye's 100% owned Weebigee Project is located 227 kilometres north of Red Lake in Northwestern Ontario and is comprised of 363 claims totaling approximately 6,000 hectares. The NW Arm claim block covers approximately 20% of the total project area and hosts the highest density of gold showings in the Sandy Lake Greenstone Belt.

The project is adjacent to Sandy Lake First Nation (population approx. 3,000) which has excellent infrastructure including an airport with daily direct flights to Winnipeg, Red Lake and Sioux Lookout and winter road connection to Red Lake. All weather access roads are located within one kilometre of the Knoll, Bernadette, RvG4 and Wavano areas. Goldeye recently signed a comprehensive Exploration Agreement with Sandy Lake First Nation and is pleased to be working closely with the community.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Blaine Webster, P. Geo.
President and CEO
416-315-9708
[email protected]

Robin Luke Webster
Manager, Corporate Affairs and Community Relations
416-877-6389
[email protected]

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