Golden Eagle Appoints Technical Advisory Board
Tuesday February 5, 9:00 am ET
SALT LAKE CITY, UT--(MARKET WIRE)--Feb 5, 2008 -- Golden Eagle International, Inc. (OTC BB:MYNG.OB - News) announced today that its board of directors has formed a Technical Advisory Board ("TAB") and has initially appointed two industry experts to help guide current efforts regarding the final in-fill drilling on the Buen Futuro A Zone gold and copper project, the C Zone gold mill coming on-line and the Gold Bar mill development.
The board has appointed George Petker, 57, VP of Business Development for Vezer Precision Industrial Constructors, a capital and maintenance service provider for the mining and basic materials industry. He is the former managing director or project manager on a number of heavy industrial and mining construction projects around the world, including North America, Asia, Australia and Turkey. Mr. Petker has worked with Golden Eagle in the past evaluating a variety of potential projects involving the Company's Gold Bar mill located in Eureka, Nevada.
The board has also appointed Blane W. Wilson, 45, who has 23 years of experience managing milling and processing operations in the mining industry, and is currently serving as the Process Manager for Queenstake Resources' Jerritt Canyon gold mine north of Elko, Nevada. The Jerritt Canyon milling operation has produced more than 8 million troy ounces of gold since 1981. Mr. Wilson is responsible for a $33 million annual budget and manages a workforce of 154 personnel. He has also advised Golden Eagle in the past on various potential projects involving the Company's Gold Bar mill.
"Golden Eagle has benefited a great deal from George and Blane's experience over the past several months while considering the ways to add value to the Company through the best use of the Gold Bar mill during the current gold rush in central Nevada," stated Terry Turner, Golden Eagle's CEO. "Now, in addition to using their ongoing input on our Gold Bar mill project, we want to use that same extensive experience and expertise to bring the C Zone into production, maximize that production to take advantage of current gold prices and finalize our in-fill drilling and resource expansion on the A Zone so we can move that project forward."
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," "as soon as possible," "transition," "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.
Contact:
Source: Golden Eagle International, Inc. |
