Goldeneye Resources Corp Signs Definitive Agreement to Acquire Precious Metals Project in Golden Triangle, British Columbia

(TheNewswire)

April 19, 2021 - TheNewswire - Vancouver, Canada - Goldeneye Resources Corp. (the “Company” or “Goldeneye”) (TSXV:GOE) is pleased to announce that the Company has completed the definitive agreement to acquire a 100-per-cent option on the Big Mike precious metal project, located in the Golden Triangle of British Columbia, Canada, and held by Granby Gold Corp., (“Granby”) an arm's-length private company.

The terms of the Definitive Agreement are as follows:

Granby will retain a 2.5% royalty on the Big Mike Property.

Any transaction with Granby is subject to any required regulatory and third-party approvals.

Big Mike Overview

The Big Mike mineral tenure in the Skeena Mining Division of British Columbia is comprised of seven cell claims with a total area of 1,398.37 hectares.

The Big Mike occurrence is located 9.5 kilometres south-southwest of Stewart close to the shoreline of Portland Canal.

“The Big Mike property is mainly underlain by diorite of the Coast Plutonic Complex. Granitic rocks have intruded, and contain local remnants of, older volcanic and sedimentary rocks. Quartz veins locally containing sulphide minerals, gold, and silver occur within the granitic rocks, mainly along faults.

Gold and silver occurrences with economic potential exist at the Main Adit area within the Big Mike property. The gold- and silver-bearing quartz vein exposed in the Main Adit may extend 30 m eastward up the side of the ridge towards an open cut where a gold- and silver-bearing quartz vein and fault zone are exposed. Rock samples from the Main Adit and open cut contain variable gold values. The highest value obtained was 1.554 oz/ton gold across 40 cm. Three adits and at least 11 trenches or open cuts have been excavated within the Big Mike property. The Main Adit was excavated to explore a gold- and silver-bearing quartz vein emplaced along a fault. The South Adit was excavated to explore a fault along which some silicification has occurred. The adit within East Grid area was likely excavated to explore a pyrite occurrence within diorite.

The results of the geochemical analyses of the 84 rocks from the Big Mike project area show that the rocks contain up to 53,000 parts per billion (ppb) gold, 69.1 parts per million (ppm) silver, 10,759 ppm copper, 9,125 ppm lead and 2,290 ppm zinc (Appendix D). The five rocks with the highest gold content by geochemical analysis were fire-assayed for gold and silver by Acme Analytical Laboratories Ltd., Vancouver, British Columbia. Assay results show that the rocks contain up to 1.554 oz./ton gold and 0.85 oz./ton silver (Assessment report 15580).”

The Emma Gordon occurrence is located on the eastern shoreline of Portland Canal, 7.5 kilometres south of Stewart, and 1 kilometre south of the mouth of Marmot River. An adit of unknown length was driven on mineralization. “The area is underlain by Coast Plutonic Complex granite of the Eocene Hyder pluton locally cut by a diorite dike, near the contact with andesitic volcanics of the Lower Jurassic Hazelton Group (Unuk River Formation). The Emma Gordon showing consists of highly fractured and faulted granite with some silicification in the wallrock adjacent to major fractures. A diorite dike cuts the granite and along its contacts hosts small stringers of sphalerite, pyrite, chalcopyrite and galena. A small trial shipment to the Trail smelter in 1914 assayed 2276.19 grams per tonne silver, 0.56 per cent copper and 2.74 grams per tonne gold (Minister of Mines Annual Report 1914).”

The 1,398.37 hectare Project is located roughly six kilometres from the town of Stewart, British Columbia in the southeast part of a mineral-rich belt of Stikine terrane rocks that lies along the eastern flank of the Coast Mountains. The belt lies between the Iskut and Kitsault-Anyox areas and is centred on the town of Stewart, British Columbia.

Qualified Person

Mr. Locke Goldsmith, P. Geo is a Qualified Person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.  Mr. Goldsmith has reviewed and approved the scientific and technical content of this news release pertaining to the Big Mike Project.

Stock Options

Goldeneye has granted incentive stock options to consultants of the company to purchase up to 4 million common shares in the capital of the company pursuant to the company’s stock option plan. The options are exercisable on or before April 19, 2024, at an exercise price of 5 cents per share. The grant of options is subject to regulatory approval.

Private Placement

Goldeneye is pleased to announce that it intends to complete a non-brokered private placement of up to 30,000,000 units of the Company at a price of $0.05 per Common Share for aggregate proceeds of up to $1,500,000, (the “Private Placement”) Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share, up to a total of 30,000,000 million warrant shares, at a warrant exercise price of $0.07 cents exercisable for a period of 24 months from the date of closing.

In connection with the Private Placement, the Company may pay finders’ fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange (the “Exchange”).

Closing of the Private Placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange.  All securities issued in connection with the Private Placement will be subject to a statutory hold period in accordance with applicable securities legislation.  The Company intends to use the net proceeds of the Private Placement , for current liabilities and for general working capital purposes.

On behalf of the Board of Directors of

GOLDENEYE RESOURCES CORP.

Jack Bal

President and Chief Executive Officer

604-306-5285

[email protected]

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.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.  When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information.  These forward-looking statements or information may relate to the status of the Annual Filings and the Interim Filings, the anticipated completion of these filings, and other factors or information.  Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties.  Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements.  The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

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