Replies to post #178255 on Zeev's Turnips Patch-No Politics (ZEEV)

[gary schrimpf]

Basserdan:

<<"Nice little company. In fact, back in the late 90's many of us got together and actually sent 2 people to South America to visit their little scam. Jim Bishop (SI/The Golden Lists) was the perpetrator who organized the deal.

Suffice it to say it turned out to be somewhat of a bust as far as getting info was concerned as one of the people who visited did not fulfill his obligation to bring back the data we were looking for.

How convenient! That admission only causes me to think that you and your 'group' may not possess the ability to make basic assessments and/or character judgements. Strike one!>>

No strike out here. I don't work with groups and my ability to make basic assessments and character judgements has done me well thoroughout my investment career.

<< The ONLY good thing about the company itself was that it was halted from trading for 10 days as the Naz thought it was a scam. (I guess everyone knows now) This created some incredible publicity and when the stock reopened it was trading at about 5x + the price it was when halted providing a very nice ROI for those of us who sold that morning <vbg>.

So "the Naz thought it was a scam" but only "halted it from trading for 10 days" which tells me they found no basis of fact in your allegation. LOL! Strike two!>>

No strike out here Basserdan. The Naz was too lazy to make the trip to Bolivia for verification as they are also too lazy and unwilling to stop trading 100s of other stocks which are/have been noted to be scams to save face with investors.

<<"As for their operation and the amount of gold that it will produce, I'd have to believe that the bullion holdings in AU by a couple of members of this board greatly exceeds the entire real (true) production one could expect from MYNG over the next decade."

Cool! I'm happy that your board members are so well heeled.>>

So am I!

<<Personally, I think you are FOS and I hope you get a major hurt from your short position when MYNG makes new highs.>>

Dream on. I have about as much of a short position in MYNG as I have a long position in Bre-X.

<<Fwiw Gary, I'm only looking for Golden Eagle to provide me with a 5 bagger so I really don't desire to continue this exercise in futility with one who is so obviously biased as you.>>

When was the last time you coughed up any cash to send 2 people 6,000 miles, expenses paid, to examine a stock in which you had an interest? Or, do you just read what the company says in its press releases and filings and believe them?

<<How you can know that they won't find additional mineable reserves on their 127,000 acre Precambrian asset in Eastern Bolivia or on their 74,000 acres in the Tipuani Gold Mining District located in western Bolivia is far beyond my comprehension. Perhaps you should go back to Yahoo! Strike three!>>

I don't believe you will find any of my posts on Yahoo. Not at least for several years. And secondly, where are they going to get the cash for exploration...out of the $1.0-$1.5MM they MAY annually net from their present endeavor? Perhaps they can dilute by another 500,000,000 shares or so to raise capital. Afterall, this year they only diluted by a measly 150MM shares.

( Number of Shares Dollar Amount Per Share Price @ Type of Consideration Securities Issued

2003
1st Quarter 5,034,174 $525,351 $.10 to $.15 Cash Common
12,264,456 $2,281,189 $.186 Stock Option Common
3,066,083 $596,381 $.12 to $.255 Service Common
100,000 $23,500 $.235 Financing Common

2nd Quarter 4,661,666 $420,550 $.09 to $.10 Cash Common
4,131,667 $669,820 $.16 to $.18 Service Common
3rd Quarter 6,720,706 $544,703 $.08 to $.09 Cash Common
868,823 $147,700 $.16 to $.18 Service Common
116,855,400 $3,703,774 $.03 to $.16 Debenture
133,000 $22,610 $.17 Property Common>>


That should be great for investors, shouldn't it? Possibly they will be bought out by NEM or some other big company wishing to add 6,000 to 8,000 ounces per year to their production. How much of a premium would someone pay for a company that is currently valued at almost $100,000,000 that nets less than $1,000,000 annually and already has one of/if not the lowest costs of production of AU in the world?

<<These are my final words on the subject and if you're smart as you seem to think you are, they will be yours as well.>>

Will you keep your word?

<<Were I you, I would cool it with the "scam" word. You must not be up on the latest legal precedents either!
Do it again and I'll gladly send our 'correspondence' to someone who will be infinitely more interested in your BS than I am. Kindly consider that a promise as opposed to a threat.>>

Please brush up on your basic reading comprehension skills before making a "promise". Also you might want to take a look at the finacials and notice how Ms. Turner and Mr. Erickson have been flipping shares at retail to pick up options at wholesale without investing a penny. That is a sure sign of a legitimate operation.

[gary schrimpf]

Basserdan:

I didn't come to this board to argue, just provide you with a bit of a history lesson. However, I highly suggest you read the following and tell me if it sounds like the company is "legitimate", a "scam", or they are a complete "fraud".

Keep in mind of course that 5 1/2 years after announcing that they had inferred resources of 157,428,000 ounces of AU, Golden Eagle managed to only extricate 6000 of those ounces over the past year while already knowing the location of at least 6,000,000 more ounces...

The value of the inferred gold is a mere $63 Billion Dollars, give or take a few pennies at $400/oz.

Yep, nothing illegitimate about MYNG.


"Friday May 22, (1998) 7:01 am Eastern Time
Company Press Release

Golden Eagle Announces Bolivian Gold Reserve Results of
Geological Report

DENVER--(BUSINESS WIRE)--May 22, 1998--Golden Eagle International, Inc.
(NASDBB:MINE - news) today announced the results of an extensive geological study on the gold
mining concessions on which the company has mining rights in Cangalli, Bolivia.

The study was carried out by, and the corresponding report was prepared by, Guido Paravicini,
M.A., Eng., an independent geophysicist and mining engineer retained by the company in La Paz,
Bolivia. The assays which resulted from the sampling procedures were performed by
Inspectorate-D.C. Griffith Laboratories, an international firm based in London.

The study, the second geological report prepared for Golden Eagle by Paravicini, is based on
channel, trench and pit samples taken from 718 points within the Cangalli concessions. A total of
2,900 assays were completed by Inspectorate-D.C. Griffith Laboratories. In Paravicini's report he
calculates a proven reserve of 6,430,000 troy ounces of gold; indicated resources of 78,714,000
troy ounces; and inferred resources of 157,428,000 troy ounces.

Because of the volume of technical data required for transcription, the company will provide a
synopsis of the full report for review on Golden Eagle's Web site, www.goldeneagle-mine.com, as
soon as management is able. Interested parties are welcome to review Paravicini's first report, (G.
Paravicini, Technical Geological Report, April 1997), also available on Golden Eagle's Web site.

''The results of Mr. Paravicini's report confirm the company's belief that the concessions within the
Cangalli region of Bolivia contain world class gold reserves,'' Terry C. Turner, Golden Eagle's
president and CEO stated.

''We will now focus on developing our strategic plan for the future based on a careful reading of Mr.
Paravicini's new information. Given the magnitude of Mr. Paravicini's findings, Golden Eagle's
management must proceed carefully and reasonably,'' Turner continued.

When informed of Paravicini's findings by a company representative in Bolivia, Adan Zamora,
Bolivia's Vice-Minister of Mining, commented: ''Dr. Turner, Golden Eagle's president, and I have
met and discussed Golden Eagle's progress in Bolivia. The reserve calculation from Mr. Paravicini's
report is fantastic. A million troy ounces would have been considered a huge find for Bolivia, so 6
million ounces is overwhelming.

''We welcome and fully support Golden Eagle's investment in Bolivia. As the Vice-Minister of
Mining I will review Mr. Paravicini's findings and have them reviewed by Mr. Giovanni Viscarra, a
geologist on whom I rely regarding the Tipuani area.'' Giovanni Viscarra was the mine superintendent
for Golden Eagle's subsidiary operating in Cangalli through most of 1996 until he left for health
reasons.

Alvaro Riveros, Bolivia's Vice-Minister for Natural Resources, when reached in Africa at a
conference, stated: ''Bolivian miners have known for centuries that the Tipuani Mining District
generally, and the Cangalli area specifically, contain incredible gold resources. This most recent study
of the concessions under Golden Eagle's control now confirms exactly how incredible.

''Bolivia is very proud to have such a substantial gold reserve within its territory.'' (Mr. Riveros is a
shareholder in Golden Eagle.)

Paravicini's geological report states that 15 target areas, representing approximately 80% of the
concession's surface area, were studied over the course of 10 months during the later part of 1997
and the early part of 1998.

While the company had acquired a Diamec 252 diamond drill to assist Paravicini in his sampling
program on the Cangalli concessions, Paravicini and Dr. Donald Hausen, a member of the
company's Technical Advisory Board, recommended against its use due to the deposit's
characteristics. Instead, a program of channeling, trenching and pitting was chosen because of
increased representative sample size.

Since deep drilling was not going to be used, Paravicini created 3-dimensional modeling of the ore
blocks based on deep sampling made possible by the steep, naturally-trenched terrain, and by shaft
and pit sampling possible at depth. Sampling was conducted in sufficient detail to be able to compute
grade and quality.

The sites for inspection, sampling and measurement were spaced closely enough, and the geologic
character was so well defined, that size, shape, depth and mineral content was well established as to
either resource or reserve calculations. Paravicini emphasized other important factors relative to his
sampling program and report:

-- All sampling was performed by Paravicini, or experienced,
independent field geologists under his control and direction.

-- Either Paravicini, or his staff, maintained strict control of the
samples once taken, including the chain of custody until those
samples were placed in the control of Inspectorate-D.C. Griffith
Laboratories.

-- The samples were prepared within the control of Inspectorate-D.C.
Griffith Laboratories, fire assays were performed on those
prepared samples, and the resulting bead was subjected to an
Atomic Absorption finish. All samples were subjected to duplicate
analysis, with approximately 20% of the samples subjected to
triplicate analysis. The lowest of the assays obtained was always
used instead of the average.

-- On all ore block modeling Paravicini used between 30% and 40% of
the indicated cubic meterage as indicated by topographical
data to ensure conservative calculations.

-- To qualify as a reserve, all resources had to meet minimum
physical and chemical criteria related to the specified mining
and production practices, including those for grade, quality,
thickness, depth; and had to be reasonably assumed to be
economically and legally extractable or producible at the time of
the determination of the reserve. Mine modeling had to
demonstrate the feasibility of specified mining and production
practices, or practices which could be reasonably assumed, on the
basis of tests and measurements.

Paravicini was chief exploration geologist for 19 years for the National Bolivian Mining Corporation
(''Comibol'') specializing in gold and tin exploration. He holds a bachelor's degree in humanities
(mathematics) from the University of Santiago, Chile; a bachelor's degree in mining and engineering
from the Technical University of Oruro, Bolivia; and a master's degree in mining engineering from
Washington University in St. Louis.

In addition, he has also received certificates from Harvard University in geology and geophysics;
Michigan State University in communications; the United States Agency for International
Development in geophysics; the Japanese International Cooperation Agency in mining and
metallurgy; and a diploma of merit in geology from the United States Geological Survey.

Golden Eagle cannot assure that the findings of Paravicini's report are accurate in view of the fact
that the report was produced by an independent consulting firm which is responsible for its accuracy.
However, the company's management has concluded that it will rely on the report as accurate for
purposes of future planning and development of the site.

Guido Paravicini does not own stock or options in Golden Eagle, has not been promised any
compensation in the form of stock or options, and is paid a fee for his professional services.

Shareholders and prospective shareholders should carefully consider the preceding information, as
well as the company's 10K Annual Reports, 10Q Quarterly Reports and 8K Periodic Reports, all of
which are available through the company's Web site as indicated below. In addition, shareholders
and prospective shareholders should take notice of the fact that the company's filings of its 10K
Annual Report for 1997, and its 10Q Quarterly Report for the first quarter of 1998, are not current
due to an error on the part of the company's subsidiary's independent auditor in Bolivia regarding
U.S. Generally Accepted Accounting Principles (''GAAP''). That error resulted in an incorrect audit
which has been corrected and a re-audit has been conducted and is being submitted to the
company's independent U.S. auditor to allow for the preparation of the company's consolidated
audit. This press release includes statements which bear on the company's future, including potential
operating performance and earnings potential. There can be no assurance that actual results in
performance will not materially differ from the company's expectations. The preceding matters
constitute cautionary statements identifying important factors with respect to critical matters bearing
on the company's future, including certain risks and uncertainties commonly found within the gold
mining industry.

Golden Eagle International, Inc. is a Denver-based gold mining and exploration company. The
Company is currently focusing its efforts on developing its mining rights in Cangalli, Bolivia. For more
information about the Company, call Sabrina Martinez at [phone] or Guy Murrel at (303)
581-7760. Media inquiries should be directed to Richard Pinto at [phone]. Golden Eagle
can also be found at its new website: www.goldeneagle-mine.com.

Contact:

Golden Eagle International, Inc.
Sabrina Martinez, 303/694-6101
Guy Murrel, 303/581-7760
Richard Pinto, 212/688-8599 (Media Inquiries)

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