Goldeye Explorations Limited Announces Completion of First Tranche of a Private Placement

TORONTO, ONTARIO--(Marketwired - Dec 23, 2013) - Goldeye Explorations Ltd. (TSX VENTURE:GGY) wishes to announce completion of the first tranche of a partially brokered private placement of up to a total of $1,500,000 offered through the sale of a combination of (i) up to 15,000,000 hard dollar units at $0.10 per unit; and (ii) up to 13,636,364 flow-through units at $0.11 per unit. Each hard dollar unit consists of one common share and one warrant. Each flow-through unit consists of one flow-through common share and one-half of a warrant. Each whole warrant entitles the holder to purchase one additional common share for 24 months at a price of $0.15 per share. To date, the financing resulted in gross proceeds of $525,320 from the sale of 4,230,182 flow-through units and 600,000 hard dollar units.

Goldeye paid a total of $36,772 in commissions (7%) in connection with this initial closing. All of the securities will be subject to a four month hold period.

Goldeye previously announced (News Release - November 18, 2013) that it has entered into an exploration agreement with Sandy Lake First Nation (SLFN) regarding Goldeye's mineral exploration activities on its Weebigee Project at Sandy Lake in the Red Lake Mining District, Northwestern Ontario. The Agreement and its implementation were subject to the approval of the TSX Venture Exchange. Such approval was subsequently received and Goldeye has issued 500,000 of its common shares to SLFN to cover the initial term of the exploration agreement.

The proceeds of the flow-through financing will be used to carry out mineral exploration on the Weebigee Project that qualifies as Canadian Exploration Expenses (CEE) under the Income Tax Act (Canada), enabling the subscriber to obtain applicable tax credits and deductions. The hard dollar financing will be used to pay costs of the private placement, general administrative expenses and overhead.

Blaine Webster, President and Chief Executive Officer of Goldeye commented, "The fact that Goldeye has been able to successfully finance in such a difficult market shows the confidence that investors have in the potential of Goldeye's high-grade Weebigee Project. Goldeye expects a second tranche of the financing to close before the end of the year. A 2500 m drill program will commence in early February after personnel and equipment are mobilized to the project via winter road."

On behalf of the Board of Directors,

Blaine Webster, P.Geo., President and CEO

ABOUT GOLDEYE

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. Additional information can be found at www.goldeye.ca.

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FORWARD-LOOKING STATEMENTS

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Such statements include the following: "Goldeye expects a second tranche of the financing to close before the end of the year" and "A 2500 m drill program will commence in early February after personnel and equipment are mobilized to the project via winter road". Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than 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.

Shares Issued after First Tranche Financing: 35,828,824