SOURCE: Golden Eagle International, Inc.

March 25, 2008 10:04 ET

Golden Eagle Begins Rehabilitation of C Zone Gold Mill Site in Preparation for Construction

CEO & CFO Carry Out Important Tasks in Bolivia

SALT LAKE CITY, UT--(Marketwire - March 25, 2008) - Golden Eagle International, Inc. (OTCBB: MYNG) announced today that it has begun the rehabilitation of the site approved for construction of its C Zone gold mill in eastern Bolivia after that area sustained over 100 days of torrential rains since the Company's successful public hearing to finalize its environmental permit on November 30 2007. Eastern Bolivia has been pummeled by 100-year rains due to the effects of the "La Nina" weather phenomenon in the southern Pacific Ocean that has caused flooding resulting in 73 deaths, 97,500 families affected, the loss of over 50% of Bolivia's soy crop and more than $1 billion in damages to other crops, drowned cattle and washed out roads. However, the rains are letting up and the Company has begun repairs to infrastructure such as roads, the C Zone open pit site, the C Zone plant platform and ramp, as well as tailings and fresh water impoundment ponds. Once the plant site has had a short period of dry weather, Golden Eagle's field crew expects to begin pouring plant foundations.

"In all of our years of involvement in eastern Bolivia, I have never seen the roads so completely destroyed by the rainy season as I did during my visit last week to the A and C Zone mine sites," stated Golden Eagle's CEO, Terry Turner. "While access has been limited, our field team has been assembling mill equipment and preparing to initiate our C Zone gold mill construction during any dry period. With a short period of rehabilitation of our infrastructure, we anticipate being ready to work day and night toward our goal of bringing our C Zone mill on-line and growing our processing up to 1,000 tpd. Within 6 months of commencing production, we believe that we can have that production up to 2,000 tpd. We project that once in production additional work on road drainages and other preventative measures should ensure that future rainy seasons will not present such a difficult challenge."

The Company 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.

CEO & CFO Carry Out Important Tasks in Bolivia

Golden Eagle's CEO and CFO, Tracy A. Madsen, were in Bolivia last week for consultations on the Company's 2007 annual audit between its U.S. and Bolivian auditors, as well as for an important review of internal financial controls. Turner also visited the C Zone mine and mill site in the Ascension Gold-Copper Trend located 300 kilometers (186 miles) north of Santa Cruz, Bolivia and 18 kilometers (11 miles) east of the township of Ascension de Guarayos.

Golden Eagle's Nearby A Zone VMS Gold & Copper Deposit

Five kilometers (3 miles) from the Company's C Zone gold deposit, Golden Eagle has its A Zone volcanogenic massive sulfide ("VMS") gold and copper deposit undergoing feasibility studies. Golden Eagle estimates from its existing data gathered to date that the A Zone contains 4.36 million tonnes of mineralized material in a 40-meter (132-feet) deep gold oxide cap, beginning from the surface, with a gold grade of 1.23 g/t for a total of 172,000 troy ounces. The same data results in an estimate of 6.5 million tonnes in the copper-enriched supergene layer, underlying the gold oxide cap beginning at 40 meters (132 feet) of depth and running to 80 meters (264 feet) of depth, with a copper grade of 1.85% for a total of 120,000 fine tonnes (265 million pounds). (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 once feasibility work, including costing, is completed.) The Company's estimates are based on data gathered through a combined 13,300 meters (44,000 feet) of auger, reverse circulation and diamond core drilling, as well as 13.3 kilometers (8 miles) of trenching.

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, or selling to third parties and reinvesting the proceeds from, 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:

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Some of the statements in this press release are forward-looking statements and are based on our current expectations, assumptions and estimates. Words and phrases such as "believe," "expect," "expansion," "anticipate," "initiating," "commencing," "well positioned," "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 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.