Golden Eagle International Reports Positive Meetings with New
Government Officials in Bolivia
DENVER--(BUSINESS WIRE)--Nov. 3, 1997--
Successful Meetings Position Golden Eagle as Mining Leader
in Bolivia
Golden Eagle International, Inc. (NASDBB: MINE) announced today its Board of Directors and Technical Advisory
Board have completed a series of high-level meetings with members of Bolivia's new administration that took office on
August 6, 1997.
Golden Eagle, with mining rights on 2,004 hectares (4,810 acres) of mining concessions in Cangalli, Bolivia, discussed
its gold mining operations in Bolivia and provided consultation with respect to mining and the taxation of foreign
corporations with subsidiary operations in Bolivia.
''We personally met with most of Bolivia's mining-related cabinet level ministers and vice ministers, and we're extremely
encouraged by Bolivia's new resolve to improve the business climate for foreign mining operations,'' Terry Turner,
president and CEO of Golden Eagle, says. ''Perhaps the most important meeting was a 3-hour session with the
Congressional Committee on Mining. I have already received a number of calls from several congressmen offering
assistance and asking Golden Eagle's opinion on significant legislation related to mining and taxation issues. Our Board
and Technical Advisors made a very positive impression and the exchange of ideas during our meetings was extremely
dynamic.''
Golden Eagle was represented during the meetings by Board members Terry Turner and Mary Erickson, and by
Advisory Board members Max S. Staheli, Donald M. Hausen, Ph.D., and Ronald L. Atwood, Ph.D. The discussions
included meetings with Bolivia's Minister of Mining, the Honorable Adan Zamora, Minister of Agriculture, the
Honorable Luis Freddy Conde, Speaker of the House of Representatives, the Honorable Hormando Vaca Diez, the
Congressional Committee on Mining (including the Honorable Juan Luis Choque, the Honorable Carlos Aranibar and
the Honorable Alejandro Coutella), and the Honorable Walter Guiteras, the President of Bolivia's Senate. ''Bolivia
enacted its new Mining Code on March 17, 1997, and that legislation took effect on May 17, 1997, making Bolivia's
mining law much more secure for foreign investment,'' Golden Eagle's Turner says. ''Bolivia's new administration is now
working to refine that Code and was interested in Golden Eagle's input on the subject. We are very honored to
participate and contribute to the future of mining in Bolivia.''
Mr. Vaca Diez told Golden Eagle's executives they were among the pioneers of foreign companies investing in Bolivia's
new mining wave. ''We know how to treat our pioneers,'' he said. President Guiteras, who requested a copy of a
recently-published book by Donald Hausen on the subject of gold heap leaching, stated, ''Golden Eagle's confidence in
Bolivia has not gone unnoticed, nor unappreciated. Bolivia's Senate will do everything in our power to foster and
protect further investment by Golden Eagle and her sister foreign mining companies.''
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 investor relations information please call
Sabrina Martinez at 303/694-6101. Media inquiries should be directed to Richard Pinto at 212/688-8599, or Guy
Murrel at 303/581-7760. Golden Eagle can also be found at its new website: www.goldeneagle-mine.com .
Contact:
Investor Relations Information:
Sabrina Martinez, 303/694-6101
or
Media Inquiries:
Richard Pinto, 212/688-8599
Guy Murrel, 303/581-7760 |
