TORONTO, ONTARIO--(Marketwire - Oct. 1, 2012) - Goldeye Explorations Limited (TSX VENTURE:GGY) ("Goldeye" or "the Company") announces that Jorma Hannila has resigned as CEO of Goldeye effective September 30, 2012 due to family obligations that prevent him from staying in the CEO position. He will continue to be a director, to consult and to provide valued technical expertise garnered from his 35 year exploration career. Blaine Webster, President of Goldeye, will assume the position of CEO for the immediate future. The board thanks both Mr. Hannila and Mr. Webster for their efforts and contributions to furthering the development of Goldeye's varied properties. Mrs. Constance Webster will also be stepping down from her long time role as director of Goldeye. The Company would like to offer its thanks to Mrs. Webster who has served Goldeye diligently as both a director and past CFO.
Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining. In Ontario, Goldeye holds the advanced Tyrrell project in a developing gold camp, the Gold Rock property next to Manitou Gold's high grade discovery, and the Sandy Lake property in NW Ontario. In British Columbia, Goldeye holds an interest in the Todd property in the same geological environment and rock types that hosted the past-producing Grandue and Eskay Creek mines and the developing Kerr-Sulphurets-Mitchell discovery. In Chile, Goldeye maintains its 100% ownership of the Sonia-Puma property north of Santiago.
Goldeye will define and expand the high grade Big Dome zone and Hydro Creek and explore at depth and on strike the significant potential of the new Hanging Wall zone. Upon signing the exploration agreement with the Sandy Lake First Nation, Goldeye will start an aggressive program of geological mapping and geophysics that will be followed up with a winter drill program. These claims host two distinct geological environments, one a near surface gold occurrence that is similar in many respects to the high grade gold reserves at Goldcorp's Red Lake mine, and the other a zinc, silver, copper model in acid volcanics. The Gold Rock property is drill ready and a winter program is being formulated. The Sonia property in Chile is also drill ready and Goldeye is presently looking for a partner to continue exploration on this property.
On behalf of the board of directors of Goldeye Explorations Limited.
Richard Dean, Chairman of the Board
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. The Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Neither the 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.