Goldeneye announces loan to Cache Exploration Inc.

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(TheNewswire)

VANCOUVER, BRITISH COLUMBIA TheNewswire – March 17, 2022: Goldeneye Resources Corp. (“Goldeye”) or the “Company”) (TSXV:GOE) announces that the Company has entered into a loan agreement with Cache Exploration Inc., a NEX issuer on the TSX Venture Exchange (NEX:CAY.H), pursuant to a loan agreement dated May 1, 2021 whereby Goldeneye agreed to lend Cache Exploration Inc. a loan in the amount of CA$297,267.00 (the “Loan”), after which Cache agreed to repay the loan and any accrued interest or charges on the loan, the loan bears an interest rate of 5% per annum and the principal amount, together with any accrued interest or charges, must be repaid to Goldeneye within 12 months following the date of the loan contract.

The Company and Cache both have certain directors in common. The loan has been approved by the independent directors of Goldeneye.

The loan was advanced to Cache prior to the completion of the Company’s non-brokered private placement announced in the press release dated September 27, 2021, whereby the Company issued 6,997,399 units at a price of $0.06 per unit for gross proceeds of $419,844, each unit consisting of one common share and one-half transferable stock warrant, each warrant entitling its holder to purchase one common share of the Company at a price of $0.09 per share for three (3) years expiring on September 26, 2024.

The loan was used to pay certain third-party suppliers to Cache, in particular Ollerhead and Associates who carried out a geological survey on Cache’s Kiyuk Lake mineral property.

The loan was to be for a very short term, but due to Cache Exploration Inc.’s shutdown and inability to raise funds, the loan was not repaid.

The independent directors determined that the Loan was appropriate given the financial situation of the Company.

Details of the loan were disclosed in the Company’s latest interim financial report for the six months ended October 31, 2021.

The Company does not issue any securities or pay any bonus, commission or finder’s fees on the loan.

The loan is subject to review and acceptance by the TSX Venture Exchange.

On behalf of the Board of Directors

Goldeneye Resources Corp.

Jack Ball”

Jack Bal, President and CEO

FOR MORE INFORMATION PLEASE CONTACT:

jackball

Phone: 604.306.5285

[email protected]

Forward-looking information

This press release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the loan from Goldeneye Resources Corp. (“Goldeneye”); the availability of capital for Goldeneye to execute its strategy in the future. Forward-looking statements are based on estimates and assumptions made by Goldeneye in light of its experience and its perception of the current and expected future. developments, and such other factors as Goldeneye deems appropriate in the circumstances. Many factors could cause Goldeneye’s results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including: differences between actual and estimated results of exploration and development and operating risks; reliance on early-stage exploration concessions; uninsurable risks; competetion; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mining claims or property and reliance on key employees. Forward-looking statements are based on the expectations and beliefs of the Company’s management as of the date the statements are made. The assumptions used in the preparation of these statements, while believed to be reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on any forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE COMPANY’S EXPECTATIONS AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT ATTACK UNBIDDEN IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY ON SUCH INFORMATION AS OF ANY OTHER DATE. ALTHOUGH THE COMPANY MAY CHOOSE TO DO SO, IT DOES NOT OBLIGATE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS REQUIRED UNDER APPLICABLE SECURITIES LAW.

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.

Copyright (c) 2022 TheNewswire – All Rights Reserved.

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