SOURCE: Golden Eagle International, Inc.

Golden Eagle International, Inc.

July 31, 2012 11:00 ET

Golden Eagle Announces the Reorganization of Its Officers and Board of Directors

SALT LAKE CITY, UT--(Marketwire - Jul 31, 2012) - Golden Eagle International, Inc. (OTCBB: MYNG), announced today that its Board of Directors has appointed Tracy A. Madsen to the position of President and Chief Executive Officer and as a member of the Board of Directors. Mr. Madsen will serve in these appointments in addition to his previous appointments as Chief Financial Officer, Secretary and Treasurer, where he has served since February 2003.

The Company also announced the appointment of Mark A. Bogani as a member of the Board of Directors. Mr. Bogani is the Manager of Gulf Coast Capital, LLC. Gulf Coast has recently increased its shareholdings of Golden Eagle to 42.75% of the outstanding stock of the Company.

The Company also reported today that Terry C. Turner has stepped down as President and Chief Executive Officer where he has served since February 1997. Mr. Turner will remain as the Chairman of the Board of Directors.

The Company also announced the resignation of Harlan McSpadden (Mac) DeLozier II and Alvaro Riveros Tejada as members of the Board of Directors.

Mr. Turner stated, "It has been a privilege to serve Golden Eagle International, Inc. as its Chief Executive Officer for the past 16 years. I have worked closely with Mr. Madsen for the past 8 years and I am confident that he has the experience and knowledge necessary to lead this Company to a bright future. The time is right for him to take control of the daily operations and I look forward to continuing to represent the shareholders as the Chairman of the Board of Directors. Additionally, I wish to thank Mr. DeLozier and Mr. Riveros for their many years of dedicated service to the Company."

In addition, Mr. Madsen stated, "I am honored to be appointed by the Board as President, CEO and a member of the Board of Directors. I welcome Mr. Bogani to the Board of Directors and I believe that his contribution to the Company will be invaluable. I commit to our shareholders to work diligently to increase shareholder value. On behalf of Golden Eagle, I offer our sincere gratitude to Mr. Turner for his 16 years of service as head of this Company."

In addition to his time at Golden Eagle, Mr. Madsen has served as a Chief Financial Officer and a senior executive for various companies for more than 22 years. Mr. Madsen received his Bachelors degree in Finance from Boise State University and an MBA from the University of Nevada, Las Vegas.

Mr. Bogani has been involved in the securities industry for more than 20 years, starting out in financial public relations and retail brokerage. Along the way, he has also assisted and consulted on numerous mergers, acquisitions and business valuations in both publicly-held and private companies. Mr. Bogani is an active investor and has participated in dozens of private placements, bridge loans, convertible debentures and various other debt and equity investments. In 2004 Mr. Bogani founded Transhare Corporation, a securities transfer agency that serves more than 40,000 shareholders in publicly-traded companies, where he continues to serve as CEO.

Golden Eagle recommends that you review the current Form 8-K that has been filed for further details relating to these new appointments. You may also review its disclosures, risk statements, previous press releases, annual reports, quarterly reports and current reports found at its website: http://www.geii.com.

Eagle E-mail Alerts: If you are interested in receiving Eagle E-mail Alerts, please e-mail Golden Eagle at: eaglealert@geii.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND RISKS DISCLAIMER

This press 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," "believes" 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: www.sec.gov. It is important that each person reviewing this release understand the risks attendant to the operations of Golden Eagle. The Company disclaims any obligation to update any forward-looking statement made herein.