SOURCE: Golden Eagle International, Inc.

November 01, 2007 09:45 ET

Golden Eagle Advances C Zone Gold Project by Completing Critical Infrastructure on Its New Mill Site

Company in Position to Move Forward With Mill Installation Once Public Hearing Is Held on November 30, 2007

SALT LAKE CITY, UT--(Marketwire - November 1, 2007) - Golden Eagle International, Inc. (OTCBB: MYNG) announced today that it has completed critical infrastructure projects permissible under current permitting at the Company's new mill site on its C Zone gold operation situated in the middle of the Ascension Gold-Copper Trend in eastern Bolivia.

Grading has been performed on 6.4 acres to clear and level the new mill site; tailings and fresh water impoundments have been excavated covering 16.3 acres; and 3 miles of mine access roads have been completed. Also, 11.6 acres of the C Zone open pit mine have been cleared and prepared for surface mining. In addition, mill equipment has been moved to the new site pending the final environmental approval.

"Through the hard work of our people we have hit all of our timelines since the September 14 announcement to move the site of our C Zone mill and tailings impoundments," commented Terry Turner, CEO. "We made these moves as our technical team and contract miner suggested that the C Zone production had the potential to grow rapidly towards 2,000 tpd. Our goal is to develop our gold production as quickly as circumstances allow while maintaining the very highest environmental standards."

Once the newly required public hearing is held on November 30, 2007 in Ascension de Guarayos regarding the Company's new C Zone gold mill site, Golden Eagle is confident that it will have met all of the legal requirements to satisfy its obligations under the Bolivian environmental permitting process. On that basis the Company believes, but cannot assure, that no further obstacles exist to the installation of its new C Zone gold mill. Golden Eagle plans to have both its permissible infrastructure development and all required equipment in position so that it can move forward on the installation of its C Zone gold mill in the fourth quarter of 2007.

Golden Eagle International, Inc. is a gold and copper exploration and mining company headquartered in Salt Lake City, Utah and with offices also in Santa Cruz, Bolivia. The Company is concentrating its efforts on expanding its pilot operations into production operations on its gold project on the C Zone within its 136,500 acres (213 square miles) in eastern Bolivia's Precambrian Shield. The Company is also continuing the development of its Buen Futuro A Zone gold and copper project. In addition, Golden Eagle is working with industry consultants regarding the potential expansion of its operations through maximizing the potential of its Gold Bar 3,500 to 4,500 tpd CIP mill located in Eureka, Nevada.

The Company highly recommends that you review its disclosures, risk statements, previous press releases, annual reports, quarterly reports and current reports found at its website: www.geii.com. Eagle E-mail Alerts: If you are interested in receiving Eagle E-mail Alerts, please e-mail the Golden Eagle at: eaglealert@geii.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND RISKS

Some of the statements in this press release are forward-looking statements and are based on our current expectations, assumptions and estimates. Words such as "believe," "expect," "may," "anticipate," "project," or similar expressions, are intended to identify "forward-looking statements." Forward-looking statements carry certain risks regarding an assumed set of economic conditions and courses of action, including: (a) whether Golden Eagle will be able to obtain sufficient financing to continue to meet its operational goals; (b) estimates of mineralized material and future production levels; (c) uncertainties that result from actions that may be taken in Bolivia relative to increases in the Complementary Mining Tax, Corporate Income Tax or the amount paid for mining patents [claims fees] in the future; (d) uncertainties that result from social and political conditions in Bolivia; and (e) other risk factors and matters disclosed in Golden Eagle's Securities and Exchange Commission ("SEC") filings that may be accessed at www.sec.gov. There is a significant risk that actual material results will vary from projected results. No information provided in this press release should be construed as a representation, or indication in any manner, of the present or future value of the Company or its common stock. Readers of information contained in this press release should carefully review the Company's filings with the SEC that contain important information regarding the Company's financial results, its future plans and their limitations, and the risks involved with the Company's operations. Golden Eagle disclaims any responsibility to update forward-looking statements made herein.