SOURCE: Golden Eagle International, Inc.

Golden Eagle International, Inc.

April 16, 2009 14:49 ET

Golden Eagle Reports Recommencement of Operations at Jerritt Canyon Gold Mill

First Gold Pour for Yukon-Nevada Gold Corp.

SALT LAKE CITY, UT--(Marketwire - April 16, 2009) - Golden Eagle International, Inc. (OTCBB: MYNG) reported today that ore processing has recommenced at the Jerritt Canyon gold mill and the first gold was poured there yesterday afternoon. This is the first gold pour since permission was received from the Nevada Division of Environmental Protection (NDEP) for the restart of the milling facility.

The gold pour was attended by the President and CEO of Yukon-Nevada Gold Corp. (YNG), Graham Dickson, as well as YNG's CFO, Shaun Heinrichs, and Nicole Sanches, YNG's Investor Relations Manager. Golden Eagle had in attendance Blane Wilson, its COO, as well Curtis Casagranda, Chris Zerga, Mike McGhee, Alan Wilson, Mathew Jones, Scott Alcorn, Ruston Hebdon and Pancho Melendez. The gold pour was also covered by Adella Harding and Ross Anderson of the Elko Daily Free Press.

YNG stated that its "President and CEO, Graham Dickson, was happy to see the successful culmination of a great deal of effort and hard work expended by YNG, sub-contractor (mill operator) Golden Eagle and the NDEP."

YNG's CFO, Shaun Heinrichs, stated, "The reappearance of cash flow is both exciting and invigorating. We are sure that in the coming months we (YNG) will now be able to pay down all obligations and emerge once again as a profitable gold mining company."

YNG's Graham Dickson echoed his CFO's sentiments and said, "We can now concentrate on our plans to restart mining at Jerritt Canyon and to make further advances towards profitable production at Ketza River in the Yukon Territory. YNG today indicated that, 'Ongoing permitting at Starvation Canyon, Nevada will allow the Company (YNG), in the future, to realize an increase in the production of gold ounces at Jerritt Canyon.'"

Golden Eagle's crews have been on-site at the Jerrit Canyon mill since mid-September 2008 providing maintenance and environmental compliance operations pending the restart of the mill. On October 14, 2008 the Company entered into a Mill Operating Agreement (the "Agreement") with Queenstake Resources USA, Inc. ("Queenstake"), a wholly owned subsidiary of Yukon-Nevada Gold Corp. (YNG), to operate the 4,000 ton-per-day (tpd) Jerritt Canyon CIL gold mill located 50 miles north of Elko, Nevada. Under the Agreement, Golden Eagle will be the mill operator for a term of 5 years, which is renewable at the option of YNG's Queenstake for an additional 5-year term. The terms and conditions of the Agreement are set out in a Current Report filed with the U.S. SEC on Form 8-K on January 15, 2009 and can be accessed at its EDGAR electronic library: www.sec.gov or Golden Eagle's website, www.geii.com.

Golden Eagle's CEO, Terry C. Turner, stated, "We are very pleased for Yukon-Nevada on the recommencement of operations and congratulate its management on its hard work, persistence and commitment to bring Jerritt Canyon back to life. This gold pour is a first step toward a very productive future for the Jerritt Canyon mine and mill and we are happy as a company to be participating in this comeback."

The Company has posted a PowerPoint presentation featuring the Jerritt Canyon gold mill on its website at: http://www.geii.com/_presentations/100108_jerritt/jerrittcanyon093008.swf.

Golden Eagle International, Inc. is a gold and copper exploration, mining and milling company headquartered in Salt Lake City, Utah; with offices in Elko, Nevada and Santa Cruz, Bolivia. The Company's most recent efforts have centered on its Agreement with Queenstake Resources USA, Inc. (a subsidiary of Yukon-Nevada Gold Corp.) for the operation of the Jerritt Canyon 4,000 tpd CIL gold mill. In addition, Golden Eagle is working to maximize the potential of its Gold Bar 4,000 tpd CIP gold mill located in Eureka, Nevada through a joint venture, toll refining arrangement or potential merger. The Company is also maintaining its C Zone gold mine and mill in eastern Bolivia's Precambrian Shield, as well as its Buen Futuro A Zone gold and copper project, in a temporarily dormant status.

The Company 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," "striving to" 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 or through the Company's web site SEC link: http://www.geii.com/investors/sec.php. 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.