SOURCE: Golden Eagle International, Inc.

May 01, 2008 09:39 ET

Golden Eagle Updates Progress on C Zone Gold Mill Construction

SALT LAKE CITY, UT--(Marketwire - May 1, 2008) - Golden Eagle International, Inc. (OTCBB: MYNG) today updated its progress on the construction of its C Zone gold mill in eastern Bolivia following previously reported delays due to torrential rains that have now ceased. The Company projects that the C Zone gold mill will commence operations within the second quarter of 2008.

Golden Eagle announced that foundations have been poured for the milling area and that the mine haul truck delivery ramp for the mill has been completed with over 25,000 cubic feet of in-fill material. Over the course of the next two weeks, added levels of concrete will be poured, in addition to completing the installation of power at the mill site, in preparation for the final installation of the milling equipment.

The Company also reported that a geo-membrane liner is being installed this week for the mill's 2-million liter fresh water containment. A total of 1,400 meters of trench has been completed for fresh water lines that will be laid over the next two weeks to provide a constant water source for the mill to compliment its re-circulating water supply from its tailings impoundments and settling ponds.

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: 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 our current expectations, assumptions and estimates. Words and phrases such as "believe," "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.