SOURCE: Golden Eagle International, Inc.

June 26, 2008 09:00 ET

Golden Eagle Begins Processing at C Zone Gold Mill

SALT LAKE CITY, UT--(Marketwire - June 26, 2008) - Golden Eagle International, Inc. (OTCBB: MYNG) today reported that it has begun processing gold-bearing mineralized material through its C Zone gold mill in eastern Bolivia. The C Zone mill has been through two weeks of shakeout operations running sterile material to ensure that surging and other issues would not result in the loss of recoverable gold. Electrical systems, as well as the crushing and milling equipment, have been subjected to increasing loads to test operational parameters.

Golden Eagle's C Zone operation has now introduced gold-bearing mineralized material into the mill and will increase loads over the next 20-day period to meet its initial production capacity of 200 tonnes per day (tpd). The Company intends to incrementally expand its mill over the first 6 months of operations to a final projected capacity of 2,000 tpd.

Golden Eagle has estimated that the most sampled core area of its eluvial gold deposit in the C Zone contains 630,000 m3 (approximately 1.26 million tonnes) of mineralized material averaging gold grades in the range of 1 g/m3, but with a range as high as 1,400 mg/m3 and a cutoff grade of 100 mg/m3. (It is important to note that mineralized material is not the equivalent of proven and probable reserves, and does not assure a level of commercial extraction, but may be reclassified as production progresses.) Golden Eagle's mine plan calls for the use of data gathered from 265 auger drilling and shaft-style pit sampling sites, as well as 10 months of confirmation pilot operations, to focus its initial mining on several high-grade areas well identified within 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. Because the Company has limited financial resources, its efforts have centered on establishing 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, or selling to third parties and reinvesting the proceeds from, 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 current expectations, assumptions and estimates. Words and phrases such as "believe," "intend," "expect," "expansion," "anticipate," "initiating," "commencing," "project," "add value," "bringing into production," "maximizing," "take advantage of" 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.