MYNG --- Golden Eagle's CEO Discusses Improving Production from Cangalli Gold Mine as Gold Prices Surge, Targeted High-Grade Mining and Upcoming Geological Report in CEOcast Interview
11/14/2003 18:48
Company's President Expresses Confidence in Bolivia's Future Golden Eagle International Inc. (OTCBB: MYNG) announced today that CEO Terry C. Turner was interviewed by CEOcast Inc., an investment newsletter and one of the largest Internet investment portals. The interview can be heard at www.CEOcast.com. The CEOcast newsletter has a subscriber base of more than 1.6 million investors. "We are excited that our November production is improving from our Cangalli gold mine as gold prices are surging," stated Golden Eagle's CEO. "We are also very enthusiastic about the new mining method, TPS, that we are introducing at our Cangalli operations that targets higher-grade gold paystreaks found in our ore deposit. We project that TPS will increase our gold production in our current 3,500 tpd plant, while lowering costs per ounce." Turner noted in his interview that it appears that total tranquility had returned to Bolivia after its recent political unrest. "Today, Bolivia's President Carlos Mesa opens the XIII Ibero-American Summit in Bolivia. Mesa and Bolivia are hosting the presidents from 21 Latin American and Iberian countries, as well as the king of Spain. The security and stability necessary to host such an event underscores Bolivia's current political and social atmosphere. This is a real vote of confidence in President Mesa's administration, and Bolivia's future." Golden Eagle's CEO also discussed in the interview progress on the final geological report being prepared on the company's Buen Futuro property in eastern Bolivia's Precambrian Shield. "Dr. Michael Biste, the pre-eminent geological expert on Bolivia's Precambrian, has been working diligently on modeling resource blocks and open pit designs, on Buen Futuro. Our engineers have been adding metallurgical work, economic analysis, environmental analysis and cost information on plant components and mining equipment. Our legal team has been working on the legal report regarding Buen Futuro. It is all coming together into a very interesting report on a property that we believe will unlock the true value of Buen Futuro itself, and of the rest of our 125,000 acres in the Ascension Gold/Copper Trend. This assessment is extremely important to our overall mission of adding value to our shareholders' investment." Eagle E-mail Alerts: More than 2,400 investors have signed up to receive Eagle E-mail Alerts recently. If you are interested in receiving these alerts, please e-mail the company at: eaglealert@geii.com. Golden Eagle International Inc. is a gold exploration and mining company located in Salt Lake City, and La Paz and Santa Cruz, Bolivia. The company is currently focusing its efforts on developing its mining rights on 74,000 acres in the Tipuani Gold Mining District located in western Bolivia, and continuing exploration and development on 127,500 acres in eastern Bolivia's Precambrian Shield. Golden Eagle is a mining company with a social conscience, having provided many humanitarian programs at its mine site, including the only hospital, doctor and nurse in Cangalli, Bolivia, for the past seven years, as well as having provided for the educational needs of the students of the area. The company highly recommends that you review its disclosures, risk statements, previous press releases, annual reports, quarterly reports and current reports found at its Web site: www.geii.com. Forward-Looking Statements and Disclosure of Risk. The future conduct of Golden Eagle's business and its response to issues raised by third parties are dependent upon a number of factors, and there can be no assurance that Golden Eagle will be able to conduct its operations as contemplated. Certain statements contained in this release using the terms "may," "expects to," "projects," "estimates," "plans," "anticipates," "targets," "believes," and other terms denoting future possibilities, are forward-looking statements in accordance with the U.S. Private Securities Litigation Reform Act of 1995. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks that are beyond Golden Eagle's ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. These risks include, but are not limited to, the risks described in the above press release; those risks set out in Golden Eagle's disclosure documents and its annual, quarterly and current reports; and the other risks associated with startup mineral exploration operations with insufficient liquidity, negative working capital and no historical profitability. Golden Eagle disclaims any obligation to update any forward-looking statement made herein.
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