|By Marketwired .||
|June 24, 2014 09:30 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/25/14 -- Goldeye Explorations Limited (TSX VENTURE:GGY) ("Goldeye" or "the Company") wishes to announce that Mr. Doug Willock has resigned as a Director of the Corporation and Non-Executive Chairman, and Mr. Brian Howlett has resigned as a Director of the Corporation, both effective immediately. Goldeye would like to thank them for their efforts and wishes them success in their future ventures.
Richard Dean will assume the position of Acting Chairman and the Company will commence a search to fill the vacancies on the board.
Blaine Webster, President and CEO of Goldeye, stated, "Goldeye has a very exciting high-grade discovery at Weebigee, one which we believe could be the next significant gold project in Northwestern Ontario. The Company has built an exemplary relationship with Sandy Lake First Nation and has established a positive and mutually beneficial model for working with First Nations at early exploration. We will continue our efforts to build a team that delivers shareholder value by advancing Weebigee."
On behalf of the Board of Directors,
Blaine Webster, P.Geo., President and CEO
About the Weebigee Project
Goldeye's 100% owned Weebigee Project is located 227 kilometres north of Red Lake in Northwestern Ontario and comprises 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.
During February and March 2014, Goldeye completed its planned phase 1 drill program at Weebigee. Twenty-three holes were drilled in the NW Arm area for a total of 2,219 m. The program confirmed the presence of significant gold mineralization at the Knoll, Bernadette and RvG4 Zones. Highlights included: 12.86 g/t Au over 6.85 metres core length in hole BK-14-03 (Bernadette), 12.45 g/t Au over 3.5 metres core length in hole BK-14-05 (Knoll), and 23.15 g/t Au over 3.97 metres core length in hole BK-14-18 (RvG4). Visible gold was noted in 50% of the drill holes.
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 and RvG4 areas. In November 2013, Goldeye and Sandy Lake First Nation signed a comprehensive Exploration Agreement in regards to the project. Goldeye is pleased to have a strong, mutually beneficial relationship with the people of Sandy Lake First Nation.
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. There are 42,353,597 common shares of Goldeye issued and outstanding.
Additional information can be found at www.goldeye.ca.
FORWARD LOOKING STATEMENTS
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include "Goldeye has a very exciting high-grade discovery at Weebigee, one which we believe could be the next significant gold project in Northwestern Ontario."
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding availability of capital. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the Company's anticipated projects, delays or changes in plans with respect to the development of the Company's anticipated projects by the Company's third party relationships, risks affecting the Company's ability to execute projects, weather and other environmental risks and the inability to raise additional capital. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
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.
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