GGY Goldeye Explorations Ltd

Goldeye Explorations Limited ("Goldeye") (TSX VENTURE:GGY) is pleased to
announce that it has received conditional approval from the TSX Venture Exchange
for its acquisition from a private company, Dutch Flats Gold Inc. ("Dutch
Flats"), of 100% of the issued and outstanding shares of Dutch Flats, which in
turn owns 100% of the legal and beneficial interest in certain mining and
mineral exploration claims known as the "Hot Springs Peak Property" in Humboldt
County, Nevada. The agreement which was first announced on January 18, 2013
provided that, in addition to a $50,000 non-refundable payment made to the
shareholders of Dutch Flats, on closing, 11,000,000 Goldeye shares will be
exchanged for all 11,000,000 of the issued and outstanding shares of Dutch
Flats. The agreement was subsequently amended to provide that Goldeye may
distribute by way of a dividend or return of capital, 2,500,000 of the 5,000,000
shares of Temex Resources Corp. owned by Goldeye to its shareholders holding
shares of Goldeye immediately prior to the closing of the Dutch Flats agreement,
thereby excluding participation in such distribution by the Dutch Flats
Shareholders. In consideration therefor, the Dutch Flats Shareholders will
retain a 4% NSR royalty on the Dutch Flats Property, of which 3 of the 4
percentage points may be repurchased by Goldeye for the price of US$1,250,000
per percentage point. Any such distribution of Temex shares will be subject to
all required notifications and regulatory or stock exchange approvals.  


It is a condition of closing that the Dutch Flats Shareholders and Dutch Flats
Gold Inc. shall have arranged and completed, concurrently with the closing, a
private placement of Goldeye's common shares of a minimum of $1,000,000 at a
price of not less than $0.10 per share unless agreed to otherwise by Goldeye.


About Hot Springs Peak 

The Hot Springs Peak Property is a gold project that consists of 163 unpatented
claims and 4 leased claims totalling 3340 acres. It is located approximately 20
km west of the northwest boundary of the Getchell Trend, which potentially
represents deep seated structural control on deposits such as Pinson (Preble),
Turquoise Ridge and Getchell gold deposits. The property is also approximately
25 km west of the intersection of the Getchell Trend and the Battle Mountain
Trend. 


Due diligence work by Goldeye to date has identified potential new drill targets
beneath gravel cover, related to gold-bearing mineralized jasperoids previously
identified. The due diligence study and field work are ongoing and a targeting
report will be forthcoming. 


On behalf of the Board of Directors 

Blaine Webster, President and CEO 

ABOUT GOLDEYE 

Goldeye is a Canadian gold-focused exploration company with properties in
mineral rich, politically secure jurisdictions with long traditions of mining.
In Canada, Goldeye holds a 24.5 % interest in the Todd Property in British
Columbia, a 100 % interest in the Gold Rock, Sandy Lake and Shining Tree
properties in Ontario and additional claims in Tyrrell Twp. after the sale of
the main block to Temex Resources Corporation in late 2012. In Chile, Goldeye
owns 100 % of the Sonia-Puma property located 180 km north of Santiago. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Goldeye Explorations Limited
Blaine Webster, P.Geo.
President and CEO
416-315-9708
bwebster@goldeye.ca

Goldeye Explorations (TSXV:GGY)
Historical Stock Chart
From Jun 2024 to Jul 2024

Goldeye Explorations (TSXV:GGY)
Historical Stock Chart
From Jul 2023 to Jul 2024