In honor of the original name of this thread, I shall post the MYNG news. GE, set to claim all of Bolivia maybe, LOL.
SALT LAKE CITY--(BUSINESS WIRE)--Nov. 22, 1999--Golden Eagle
International, Inc. (OTC Pink Sheets:
MYNG) announced today that it has acquired two mining claims in the Tipuani Gold
Mining District which, combined,
total 44,046 acres.
These newly acquired claims surround the 4,952 acres of claims containing the Cangalli
gold deposit that Golden Eagle
currently controls under contract, and which the Company has been exploring for the
past four years.
The newly acquired claims, consisting of 44,046 acres, are 100% owned by Golden
Eagle International, Inc., and are
free of any royalty obligation. The Company's only obligation with respect to these new
claims is an annual claims fee
payment (patent) to the Bolivian government of $17,825. These new claims, owned
outright by Golden Eagle, together
with those claims under the Company's contractual control, give Golden Eagle
exploration and mining rights to a total of
49,573 acres in the Tipuani Gold Mining District. The Company's claim holdings now
extend over 18 miles in length, and
between six to 10 miles in width, covering a large portion of the ancient Paleo-Tipuani
river system and its gold-bearing
conglomerates. These are the same Paleo-Tipuani gold-bearing conglomerates which
Golden Eagle has been exploring
on the Cangalli claims for the past four years.
Ronald L. Atwood, Ph.D., former chief metallurgist for Newmont Mining, and a
member of Golden Eagle's Technical
Advisory Board, stated:
''I have covered the entire length of these new Golden Eagle
claims and have observed hundreds of small, informal gold mining
operations over that entire length. My observations of both
surface and underground operations have lead me to the opinion
that Golden Eagle's new claims overlay a huge portion of the
ancient Paleo-Tipuani river system refilled with gold-bearing
cemented conglomerates. I have expressed to Golden Eagle that
there are at least ten promising exploration targets for open pit
prospects within the new claims.''
Golden Eagle's President, Terry C. Turner, said:
''This is one of the most important days in Golden Eagle's
history. We have carefully built a strategy which allows us to
take a dominant position in this venerable and highly productive
Tipuani Gold Mining District, which literally has a gold mining
history dating back over 400 years to the Inca civilization. Now,
Golden Eagle needs to continue seeking the financing or joint
venture partner necessary to bring its Cangalli property into
commercial production.''
Golden Eagle International, Inc. is a gold exploration and mining company located in
Salt Lake City, Utah. The
Company is currently focusing its efforts on developing its mining rights in the Tipuani
Gold Mining District in Bolivia. For
more information about the Company, call Sabrina Martinez at 801/619-9320 or Guy
Murrel at 303/581-7760. Media
inquires should be directed to Mr. Murrel. Golden Eagle can also be found at its
website: www.geii.com, where
management recommends that all shareholders and prospective shareholders review its
Annual Reports on Form
10-KSB, Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K.
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 report using the terms ''may,''
''expects to,'' and other terms denoting
future possibilities, are forward-looking statements. The accuracy of these statements
cannot be guaranteed as they are
subject to a variety of risks which 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 periodic 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.
Contact:
Golden Eagle International, Inc., Salt Lake City
Sabrina Martinez, 801/619-9320
or
Catapult PR-IR, Boulder, Colo.
Guy Murrel, 303/581-7760 |
