Goldeneye Resources

Overview

Newfoundland’s rich geological history makes it a rich and unique province for mining. The province supports the mineralization of gold due to the presence of shale, gypsum and sandstone. It’s also home to large deposits of copper, nickel and iron ore. Many experts say Newfoundland benefited from the continental separation that occurred approximately 600 million years ago, which likely played a key role in the formation of these large mineral deposits.

Small-scale mining in the province is believed to date back to the 1770s, but it didn’t become a major industry until the 1860 discovery of a major copper deposit. Additionally, gold did not become an integral aspect of Newfoundland’s mining history until 1976 when gold mineralization was discovered near Cape Ray. Between 1986 and 1997, the first major gold mine in the area produced 752,000 ounces of gold.

Goldeneye Resources (TSXV:GOE) is a mineral exploration company that is engaged in the exploration of base metal and precious metal projects within North America. Goldeneye currently has projects located within Newfoundland that cumulatively encompass approximately 148 square kilometers. Goldeneye’s projects will enable the company to produce gold, copper and silver. Goldeneye Resources also has a fourth project located in Red Lake, Ontario, that has a history of gold production.

Goldeneye Resource’s flagship project is its Gander River Ultramafic Belt East, known as GRUBE. There was a recent gold discovery in the Keats, Knob and Lotto Zones that are located approximately 20 kilometers to the north. The GRUBE project has similar geology to these zones, creating the potential to host additional gold deposits.

Recently, Goldeneye Resources signed definitive agreements with Unity Resources Inc. to acquire 100 precent interest in the mineral claims located in Gander River Ultramafic Belt East, Roberts Arms and Grand Lake. Each of these projects are located within Newfoundland, which has recently become a hotbed for mining activities for various minerals, including gold. This agreement must still be approved by TSXV.

Jack Bal, Chief Executive Officer of Goldeneye, commented, “Newfoundland has gained a lot of

attention with new high-grade gold discoveries such as the Keats Zone. Our GRUBE Project has geologic attributes similar to that area and we are excited to learn more about the project this field season. The Roberts Arm and Grand Lake Projects have proven targets to be followed up on for high-grade copper and gold. We plan to conduct work on all properties once the definitive agreements have been signed and approved by the regulatory bodies.”

Company Highlights

• Goldeneye Resources has three projects located in Newfoundland, which has become a hotbed for mining activities. Newfoundland has a long history of mining, however, recent discoveries have created a new influx of mining businesses in the area.
• Their flagship project, GRUBE, is located approximately 20 kilometers south of the Keats Zone. Gold has recently been discovered in the Keats Zone. The similar geological history of the GRUBE location leads Goldeneye Resources to believe it will contain high-grade gold deposits.
• Goldeneye Resources recently signed definitive agreements with Unity Resources Inc. that will allow them to acquire 100% interest on their claims in Newfoundland. These agreements must still be approved by TSX-V.
• Goldeneye Resources will immediately execute a phase one reconnaissance program on all three Newfoundland projects once they receive exchange approval.