more NewsGOLDEYE EXPLORATIONS LIMITED
FOR IMMEDIATE RELEASE TSX Venture Exchange Symbol GGY
GOLDEYE-TEMEX JUBY JV (GGY 40%, Temex 60%) EXPANDS PROGRAM
ON GOLD PROPERTY ADJACENT TO CRESO’S MINTO PROPERTY
August 18, 2010, (TORONTO, ONTARIO): Goldeye Explorations Ltd. ("Goldeye")has been advised by Temex Resources Corp. (“Temex”) that the Juby Joint Venture is
accelerating and expanding exploration activities on the JV ground near the boundary
with Creso Exploration Inc. (“Creso”). The expanded program is based on new
geophysical and geochemical data obtained from the ongoing surface exploration
program.
The Juby JV property is located in the Shining Tree area of northeastern Ontario and
consists of exploration land held 60% by Temex and 40% by Goldeye, which surrounds
the Juby Lease, and extends north to the Minto Property and west to the Indian Lake
block recently optioned by Creso. The property also borders the 100% Goldeye Main
Block (30 square km) which contains a 5 km long portion of the Tyrrell Shear Zone that
hosts the Hydro Creek and Big Dome gold zones.
The Juby Joint Venture Project (22 square km) is an important part of the Goldeye landpackage in Tyrrell Twp. To the west, the contiguous Main Block (100% GGY) contains30 square km including the Big Dome and Hydro Creek zones where over 31 km ofdrilling have been completed with 90% being focused on the two main mineralized
zones, each about 500 m in length. The Tyrrell Shear Zone extends across the property
for 5km and is a major, deep-seated structure that is similar to the Porcupine-Destor Fault
in the Timmins area.
From the Temex news release of August 17, 2010, the following is a verbatim quote:
“Highlights:
• Geochemical, geophysical surveys and geological information on Juby JointVenture property outline high priority targets
• IP survey expanded in area adjacent to Creso’s Minto Property; diamond drillingplanned for fall
The expanded surface program on the Joint Venture Property will focus on several areas
including due east of Creso’s Minto Property. Recently completed Spectral IP surveying
defined anomalous zones of weak to moderate chargeability in this high priority target
area, which covers the eastern continuation of the stratigraphy that hosts the Minto
breccia deposit 800 metres to the west.”
This program will also further detail a strong gold-in-soil anomaly, defined over an area
of 300 metres by 100 metres with individual results from 53 ppb gold to 420 ppb (0.420
g/t) gold, which was detected in the central part of the Property and will also be surveyed
with detailed IP. In the south and adjacent to the recently optioned Indian Lake property
by Creso, strong multi-station gold-in-soil anomalies with results ranging from 29 ppb to
226 ppb (0.226 g/t) gold over a strike length of 300 metres with coincident, moderate to
strong IP chargeability anomaly has been defined. Additional work to advance this target
will be initiated. This target is also along strike 900 metres to the west-northwest from
previous discoveries made by the partners highlighted by drill intercepts of 33.74 g/t gold
over 0.94 metres, 2.33 g/t gold over 5.33 metres and 0.89 g/t gold over 29.85 metres.”
Ian Campbell, P. Geo., President and CEO of Temex, is the designated “qualified person”
within the meaning of National Instrument 43-101) responsible for the preparation of the
portion of this which was quoted from the Temex news release of August 17, 2010.
ABOUT GOLDEYE
Goldeye is a Canadian gold-focused exploration company with properties in mineral rich,
politically secure jurisdictions with long traditions of mining (Canada and Chile).
Goldeye’s approach is to advance precious metal deposits to the development stage,
employing, in part, technically advanced geophysical techniques and occasionally joint
venture funding. The qualified person (within the meaning of National Instrument 43-
101) who read and approved this press release for Goldeye is Blaine R. Webster
President and C.E.O. of Goldeye.
Forward Looking Statements:
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.
For More Information please visit www.goldeye.ca orEmail: bwebster@goldeye.ca
Phone: (905) 731 9367 or (905) 886 2538 I am not an expert, but I did stay at a Holiday Inn Express last night!