Replies to post #586384 on Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

*** Gold related post (GGY.V/GEYEF) ***


Tribute Minerals and Goldeye Explorations Form McFaulds Resources Inc. for Exploration in the 'Ring and Fire'

Wednesday June 25, 11:36 am ET

TORONTO, ONTARIO--(Marketwire - June 25, 2008) - Tribute Minerals Inc. (TSX VENTURE:TBM - News) and Goldeye Explorations Limited (TSX VENTURE:GGY - OTC:GEYEF) are pleased to jointly announce that they have rolled their respective interests in their land holdings in the James Bay Lowlands, McFaulds Lake area 'Ring of Fire' (the "Property") into a new company known as "McFaulds Resources Inc." ("MFR") Each of Tribute and Goldeye retained a 1% NSR in the Property and each hold 14,000,000 common shares of MFR. The directors of MFR will be Ian Brodie-Brown, William R. Johnstone, Richard Dean, John Harvery, Richard Nemis and Blaine Webster, who will be Chairman of the board of directors. The officers will be Ian Brodie-Brown, President and CEO, Errol Farr, CFO, Trevor Boyd, VP Exploration, and William R. Johnstone, Corporate Secretary.

MFR will be seeking financing by way of an equity private placement of between $6,000,000 and $12,000,000 for further exploration of the Property. It is intended that MFR will file a prospectus to take MFR public as soon as a National Instrument 43-101 technical report is completed, to, among other things, qualify the distribution of 8,000,000 common shares of MFR to the shareholders of Tribute (from its 14,000,000 shares of MFR) and 8,000,000 common shares of MFR to the shareholders of Goldeye (from its 14,000,000 shares of MFR) by way of a dividend in specie.

MFR will hold 17,792 hectares in the James Bay Lowlands, McFaulds Lake, 'Ring of Fire', with additional staking currently in progress. Helicopter airborne electromagnetic surveys (VTEM), flown on one half of the land package have identified numerous Cu/Ni and Cu/Zn targets.

Blaine R. Webster, P. Geo., President and CEO of Goldeye, is the qualified person as defined by National Instrument 43-101 who supervised the preparation of the technical information contained in this release.

http://biz.yahoo.com/ccn/080625/200806250470798001.html?.v=1