SOURCE: Golden Eagle International, Inc.

October 31, 2007 09:00 ET

Golden Eagle Finishes Environmental Permitting Studies Regarding Its New Mill Site at Its C Zone Gold Operation

Company Files 30-Day Notice for Public Hearing in Ascension de Guarayos as Final Step

SALT LAKE CITY, UT--(Marketwire - October 31, 2007) - Golden Eagle International, Inc. (OTCBB: MYNG) announced today that its environmental consultants in Bolivia have finished the necessary baseline studies regarding the Company's new mill site on its C Zone gold operation in the areas of flora and fauna protection, water quality, air quality, noise issues and social impacts.

As a result of the Company's decision to move the site of its C Zone gold mill to accommodate environmental concerns, and under new guidelines set out by Ministry of the Environment, Golden Eagle must present its environmental studies in a local public hearing. On October 29, 2007 the Company filed a 30-day notice with local authorities for a public hearing in Ascension de Guarayos on November 30, 2007 as the final step in the environmental permitting process. Based on its environmental studies and conversations with local interests, the Company believes, but cannot guarantee, that local residents and authorities will be very supportive of the new mill site as the ideal location for Golden Eagle's C Zone gold mill.

"The combination of Golden Eagle's creation of jobs, and its economic impact due to operating purchases, has the local authorities and residents very excited about our C Zone gold project immediately and the potential for the A Zone Buen Futuro gold and copper project in the future," stated Mac DeLozier, VP for Bolivian Operations. "We have always sought to be a good corporate citizen and part of the communities in which we mine in Bolivia, as well as taking pride in maintaining the highest environmental standards possible."

Immediately following the public hearing, the Company intends to move forward with the installation of its commercial gold mill on its new site approximately 700 meters (2,300 feet) from its current pilot operations at the C Zone.

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 diversification of its operations through maximizing the potential of its Gold Bar 3,500 to 4,500 tpd CIP gold 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 Golden Eagle's 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.