Golden Eagle Featured Company in Bolivia's Premiere Resource and Mining Magazine

Business Wire, May 28, 2002

Business Editors/Mining and Metals Writers

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SALT LAKE CITY--(BUSINESS WIRE)--May 28, 2002

Golden Eagle International Inc. (OTCBB:MYNG) Tuesday announced that it is the subject of a feature article in English and Spanish in the most recent edition of Bolivia's premiere resource and mining magazine, Energy, Mining and Construction.

Due to substantial interest in the article shown by the company's shareholders, and the company's desire to ensure that the article does not reach just a select few, the article is reprinted here with the permission of Energy, Mining and Construction:

Golden Eagle: Committed to the Dynamic Future of Mining in Bolivia

Golden Eagle International, Inc. (Golden Eagle) has proven to be resilient and progressive over the last 6 years in Bolivia. While dozens of foreign mining companies have abandoned Bolivia in the midst of the worst economic and mining crisis in decades, Golden Eagle has refused to join those leaving. In fact, the company has continued its exploration, confirmation and project planning on its gold concessions in the Tipuani Gold Mining District in western Bolivia. In addition, however, Golden Eagle also went forward in 2001 with a large exploration play and land acquisition in the Precambrian Shield in eastern Bolivia. Energy, Mining & Construction focuses its analysis on this progressive survivor and its plans for the immediate future.

I. The Company & Its Executives.

Golden Eagle is a gold exploration and mining company with its head offices in Salt Lake City, Utah. The company's shares are publicly traded on the NASD Bulletin Board under the symbol "MYNG". Golden Eagle has an experienced group of executives and advisors who were formerly with some of the largest mining companies in the world.

-- Terry C. Turner, the company's President, is an attorney who has practiced
law in Bolivia in the areas of mining, business and international transactions
for 18 years. Turner is the first and only American attorney licensed to
practice law in Bolivia.

-- Ronald L Atwood, Ph.D, Vice President for Development, is the former Chief
Metallurgist for Newmont Gold, and former Director of Research for all of
Newmont Mining's operations. Newmont is one of the largest mining companies in
the world, and has recently become the second largest gold producer in the
world.

-- Max Staheli, MBA, Director, is the former Controller for South American
operations of Barrick Gold Corporation. Barrick is the largest gold mining
company in the world.

-- Donald Hausen, Ph.D, Technical Director, is a former Chief Mineralogist for
Newmont Mining.

-- Rick Sandri, Ph.D, Technical Director, is a former Senior Associate of
Behre, Dolbear & Co., a large international mining consulting firm. Dr. Sandri
oversaw the study that Behre Dolbear carried out in the Tipuani Gold Mining
District for Golden Eagle.

-- Mac Delozier, Vice President for Administration, has resided in Bolivia for
more than 35 years. Mr. Delozier has held various administrative positions in
Bolivia for national and international companies.

-- Victor Hugo Bretel, General Manager of Golden Eagle's Bolivian subsidiary,
is an architect with 30 years of experience in earth moving and construction.

-- Giovani Viscarra, Ph.D, Mine Superintendent, wrote his doctoral dissertation
on the Tipuani Gold Mining District in 1986, and has been intimately involved
with studying, consulting and writing about the District and the Cangalli
conglomerate formation for 16 years.

II. Golden Eagle's Properties in the Tipuani Gold Mining District.

Originally, Golden Eagle had 2,004 hectares (5,000 acres) in Cangalli, Bolivia, in the heart of the Tipuani Gold District, under a 25-year contract with the United Cangalli Gold Mining Cooperative, Ltd. During the past 6 years, because of its confidence in the area, the company has claimed an additional 28,000 hectares (69,000 acres) covering the main body of the ancient Tipuani River basin, or paleochannel, which was refilled with gold bearing conglomerates, or consolidated sand, gravels and cobbles, deposited during the late Tertiary Age. Golden Eagle reviewed hundreds of reports written about portions of its Tipuani properties by FONEM, Bolivia's former mining exploration fund; GEOBOL, Bolivia's former geological survey; the former Bolivian Ministry of Mines; UMSA, the national university in La Paz; and many private geological consultants. However, several studies and reports within the last several years concentrated specifically on Golden Eagle's area of interest. (Viscarra, 1986; Herail, et al, 1991; Trites, 1996; Paravicini, 1997; Paravicini, 1998; Behre, Dolbear, 1999; Atwood, 1999; Atwood, 2001; Viscarra, 2001.)

The town of Cangalli, in the Tipuani Gold District, where Golden Eagle has its mine and field offices, is located 100 km (62 miles) northeast of La Paz, Bolivia in a straight line, and 270 km (168 miles) by good paved and gravel roads. The Tipuani Gold District is found in the middle of the Apollo-Caranavi Trench in a valley formed by the Tipuani River and its tributaries. The underlying bedrock is made up of Paleozoic shales, sandstones and quartzites, which are covered in the section of the paleochannel of the ancient Tipuani River by a formation of conglomerates from the late Tertiary which have been given the name "Cangalli conglomerates" because the formation outcrops pronouncedly at the town of Cangalli. Since the beginning of the Quaternary, the Tipuani River has been creating its present course, mainly cutting through the Cangalli conglomerate. In the Tipuani basin, the Cangalli conglomerate has a length of 29 km (18 miles), and an average width of 2.5 km (1.6 miles), with a depth of 500 to 2,500 meters (1,600 to 8,200 ft). Mining in the area during the last several decades was concentrated in the recent gold-rich Quaternary gravels of the current Tipuani River, but is now shifting back to the Cangalli conglomerate since the small miners and cooperatives erroneously concluded that the recent gravels have been depleted. Golden Eagle's exploration focus has been on the enormous Cangalli conglomerate deposit. The company completed a shaft for sampling purposes begun by the United Cangalli Cooperative that is 300 meters (1,000 ft) deep, running from the level of the current river to the underlying Paleozoic bedrock. The information learned in the process was invaluable and contributed substantially to Golden Eagle's current mine plan.