Resource World Magazine

M I NI NG Goldeye Explorations and Sandy Lake First Nation Sign Exploration Agreement Goldeye Explorations Ltd. [GGY-TSXV] is an Ontario-based, gold-silver exploration company focused on their flagship Weebigee (Sandy Lake) Project, a 343-claim unit (5,448 hectare) property located near Sandy Lake, 227 km north of Red Lake, in northwestern Ontario. The project covers many of the gold and base metal showings in the underexplored Sandy Lake Greenstone Belt, an area that Goldeye believes holds the potential to provide Ontario's next major discovery. On November 18, Goldeye announced the signing of an Exploration Agreement with Sandy Lake First Nation. The five year agreement has an initial term of one year renewable on the same terms for two additional two year terms. Under the agreement, Goldeye will issue to a trust established by Sandy Lake First Nation (SLFN), for the benefit of SLFN members, up to a maximum of 1,500,000 common shares of Goldeye with 500,000 common shares issued within 45 days of the execution of the agreement and 500,000 common shares issued within 45 days of each renewal subject to the approval of the TSX Venture Exchange and any other necessary regulatory approvals. Blaine Webster, President and CEO of Goldeye, said, "This exploration agreement is a milestone in the relationship between Goldeye and Sandy Lake First Nation and provides a positive example for how exploration companies and First Nations in Ontario can work together for the mutual benefit of both parties. Ontario needs a good news story to come out of the exploration sector and we believe that the Weebigee Project is it." Goldeye is now planning a 2,500-metre winter drill program at Weebigee's NW Arm block where a program including prospecting, sampling, and geophysics was carried out this past summer. Results from the summer program, announced on September 26, 2013, include high-grade channel sample assays from the Knoll. Bernadette and Wavano Zones. Individual saw-cut channel sample results include: 43.5 g/t Au over 0.28 metres BERNADETTE Area 34.1 g/t Au over 0.35 metres KNOLL Area 22.0 g/t Au over 0.3 metres KNOLL Area 20.9 g/t Au over 0.25 metres KNOLL Area 18.3 g/t Au over 0.25 metres KNOLL Area 17.5 g/t Au over 0.4 metres WAVANO Area Composite sample results (where sampling was continuous) include: Chief Bart Meekis of Sandy Lake First Nation (right) and Blaine Webster, President and CEO of Goldeye Explorations Ltd. (left) with signed Exploration Agreement. Photo courtesy of Goldeye Explorations. 38 www.resourceworld.com RW December 2013.indd 38 25.5 g/t Au over 0.85 metres KNOLL 13.4 g/t Au over 0.6 metres KNOLL 18.28 g/t Au over 0.68 metres BERNADETTE 7.72 g/t Au over 1.7 metres WAVANO, incl. 12.55 g/t Au over 0.9 metres In addition to reporting high-grade results at Knoll, Bernadette, and Wavano, the summer program, supported by historical data, resulted in the identification of a new target area. The company reported that, " strong A spectral chargeability anomaly with flanking resistivity highs coincides with historic trenching and drilling in an area known as Tully-Burton. The anomaly has an 800metre strike length and remains open in both directions." Webster said: "The coincidence of the distinctive IP feature with the historic TullyBurton showing has generated a large new area to explore. The historic 8,410 ppb chip sample by Freewest Resources indicates potential for gold grades similar to those at Knoll, Bernadette and Wavano." In early November, Goldeye collected 31 channel samples along with four grab samples from along the north shoreline of the NW Arm from quartz tourmaline veins, silicified zones and quartz-sericite-pyrite altered horizons within the felsic flow/tuff complex. The samples have been sent to Activation Laboratories facility in Thunder Bay for assay. Goldeye also has the Gold Rock Project comprising three, 100%-owned properties in Ontario's Kenora Mining Division: the Gold Rock property located approximately 35 km south of Dryden; the Thunder Cloud property approximately 80 km south of Dryden; and the Scattergood property, southwest of the Gold Rock property. Also in Ontario is Goldeye's West Shining Tree Project consisting of 55 claims in Fawcett, Leonard, and Tyrrell townships, totaling 5296 hectares in Ontario`s Larder Lake Mining Division. Goldeye also has 24.5% interest in the Todd Creek Project located in British Columbia's Stewart mining camp and the Sonia & Puma Project in Chile. n DECEMBER/JANUARY 2014 12/11/2013 6:12 PM

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