SOURCE: Golden Eagle International, Inc.

Golden Eagle International, Inc.

January 05, 2010 12:28 ET

Nevada Fourth District Court Denies Golden Eagle's Motion for Repossession of the Jerritt Canyon Mill in the First Step in $40 Million Lawsuit Against Yukon-Nevada Gold Corp.

Company Continues Forward on Foreclosure of Mechanic's Lien and Discovery in Suit

SALT LAKE CITY, UT--(Marketwire - January 5, 2010) - Golden Eagle International, Inc. (OTCBB: MYNG) reported today that the Nevada Fourth District Court denied its Motion for an Order putting the Company back in immediate possession of the Jerritt Canyon gold mill. In its decision the Court stated, "In denying the Defendant's (Golden Eagle's) application for a writ of restitution [repossession], the court emphasizes that denying the Defendant's application does not leave the Defendant (Golden Eagle) without a remedy. The Defendant may of course proceed with its counterclaim and, if it succeeds on the merits, may be entitled to damages if it is found that the Plaintiff unjustly terminated its contract with the Defendant."

"This motion to be put back in possession of the Jerritt Canyon gold mill was one small step in the pursuit of justice for Golden Eagle in its lawsuit against Yukon-Nevada Gold Corp.," stated Terry Turner, Golden Eagle's CEO. "We will continue to move forward with the foreclosure of our mechanic's lien for $2.23 million filed against the Jerritt Canyon mill and additional discovery supporting the recovery of all of our damages in Golden Eagle's $40 million lawsuit against Yukon-Nevada Gold Corp. ('YNG') and its wholly-owned subsidiary, Queenstake Resources USA, Inc. ('Queenstake')."

YNG and Queenstake have generally denied Golden Eagle's claims.

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This news release contains information that is "forward-looking" in that it may describe events and conditions that Golden Eagle International, Inc. ("Golden Eagle" or "the Company") reasonably expects to occur in the future. Expectations for the future performance of the business of Golden Eagle are dependent upon a number of factors, and there can be no assurance that Golden Eagle will achieve the results as contemplated herein and there can be no assurance that Golden Eagle will be able to conduct its operations as contemplated herein. Certain statements contained in this release using the terms "may," "expects to," "intends to" and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, which are beyond Golden Eagle's ability to predict or control, and which may cause actual results to differ materially from the projections or estimates contained herein, including those risks identified elsewhere herein and in Golden Eagle's annual report on Form 10-K and reports subsequently filed with the Securities and Exchange Commission and available at: It is important that each person reviewing this release understand the significant risks attendant to the operations of Golden Eagle. The Company disclaims any obligation to update any forward-looking statement made herein.