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MYNG (OTCBB) GOLDEN EAGLE INTERNATIONAL

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Gold Update: Golden Eagle Hits Production Target Early; Company Processing 2,000 Tons Per Day

MONDAY , NOVEMBER 25, 2002 09:01 AM

SALT LAKE CITY, Nov 25, 2002 /PRNewswire-FirstCall via COMTEX/ -- Golden Eagle International, Inc. (OTC Bulletin Board: MYNG) announced today that its gold recovery plant at Cangalli, Bolivia reached 2,000 tons per day in processing of gold-bearing ore on Friday, November 22, 2002, and continuing through the date of this announcement. The conglomerate ore is coming from the Company's temporary open pit operations.

"We are excited about our continued progress and the proven effectiveness of our recovery plant. We are meeting our goals and producing gold," stated Giovanni Viscarra, Golden Eagle's Operations Manager, today from Cangalli, Bolivia.

By the middle of last week, the Company had processed 22,000 tons of ore in its initial start-up phase since September 30, with an average grade of 1.06 grams per cubic meter, or .530 grams per ton, which doubles its target grades used for all of its project modeling. Golden Eagle has not yet begun processing any material from the many known higher-grade paystreaks found in its gold deposit, which it will do once production resumes from its interior mine operation.

Golden Eagle has completed the installation of the conveyor system used in the transport of waste material away from its recovery plant. The Company has also made substantial progress on the installation of its interior mine conveyor system, which will provide inexpensive, high volume ore transport under its conal subsidence block caving mine plan. The Company projects that the ore from its interior mine may be higher grade due to an ore mix containing more material from the higher-grade gold paystreaks found on Golden Eagle's property.

"Our operations team is really energized by our continued progress," declared Ronald Atwood, Ph.D., Golden Eagle's Vice President for Development, from the Company's field offices in Cangalli, Bolivia. "We will continue improving production capacity, improving recoveries, and soon, we project, improving the grade of our ore. We are refining our operation at a good pace."

Golden Eagle International, Inc. is a gold exploration and mining company located in Salt Lake City, Utah, and La Paz, Bolivia. The Company is currently focusing its efforts on developing its mining rights on 74,000 acres in the Tipuani Gold Mining District, an area estimated to have produced 32 million ounces of gold in its known history, located in Western Bolivia; and continuing exploration on 125,000 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 six years, as well as having provided for the educational needs of the students in the area during its exploration stage. 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: http://www.geii.com

For more information about the company, call Sabrina Martinez in Investor Relations at [phone].

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," and other terms denoting future possibilities, are forward-looking statements in accordance with the 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 start-up 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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SOURCE Golden Eagle International, Inc.


CONTACT: Sabrina Martinez, Investor Relations of Golden Eagle,
[phone]

URL: http://www.geii.com
http://www.prnewswire.com



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