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Gold/Mining/Energy : Golden Eagle Int. (MYNG)

MYNG 0.0700

+5.7%

Feb 21 3:00 PM EDT

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To: Jim Bishop who wrote (16518)	2/23/1999 7:48:00 AM
From: Probart	Read Replies (2) of 34075

Golden Eagle International, Inc. Responds to Inaccurate News Reports DENVER--(BUSINESS WIRE)--February 23, 1999--Golden Eagle International, Inc. ("GEI") (traded on the Pink Sheets under the symbol "MINE") states categorically that no officer authorized the release of any information reported Monday by various sources and subsequently distributed on several Internet discussion sites. GEI has not received its independent consultant's report, and the drafts of the report that GEI has reviewed do not confirm directly or indirectly the existence of a 62 million ounce alluvial open pit mine; in fact, the independent consultant's recommendation is likely to be a phased work program to determine future direction for the exploration of GEI's Cangalli, Bolivia properties. GEI laments the dissemination of this inaccurate information, and regrets the irresponsible negative and positive speculation that appears on the Internet from unknown sources. GEI and its management are optimistic with respect to the Cangalli properties, but that optimism must be tempered with the risks described in GEI's most recent annual and quarterly reports and press releases. Investors and market participants should rely only on information disseminated by GEI. 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 further information, contact Sabrina Martinez at (303) 694-6101 or Guy Murrel at (303) 581-7760. Media inquiries should be directed to Richard Pinto at (212) 688-8599.

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