To: Claude Cormier who wrote (2995 ) 4/11/2002 10:17:54 PM From: larry hart Read Replies (1) | Respond to of 4051 Golden Eagle Breaks Ground for Its Cueva Playa Gold Plant and Initiates Interior Mine Development SALT LAKE CITY--(BUSINESS WIRE)--April 11, 2002--Golden Eagle International Inc. (OTCBB:MYNG - news) today announced that it broke ground in a formal ceremony on Saturday, April 6, 2002 to begin construction of its first-phase 1,000 ton-per-day Cueva Playa gold plant in the historic Tipuani Gold Mining District of Bolivia. The company also announced that it initiated its interior mine development at Cueva Playa with a ribbon cutting ceremony at the mine entrance. Golden Eagle's President and CEO Terry C. Turner, commented, ``The groundbreaking and ribbon cutting though simple, celebrate a very important moment for Golden Eagle. We have begun first-phase development that we believe will eventually result in expansion into our second-phase stated goal of processing 11,000 tons-per-day of gold-bearing material. Once we reach this production goal, we project a cost-per-ounce of gold produced of less than $75.'' Golden Eagle International Inc. is a gold exploration and mining company located in Salt Lake City. The company is currently focusing its efforts on developing its mining rights on 74,000 acres in the Tipuani Gold Mining District in Western Bolivia, and continuing exploration on 125,000 acres in Eastern Bolivia's Precambrian Shield. For more information about the company, call Sabrina Martinez in Investor Relations at 801/619-9320. Media inquires should be directed to Jack McNamara at 801/619-9320. Golden Eagle can also be found at its Web site: www.geii.com, where management recommends that all shareholders and prospective shareholders review its disclosures, risk statements, previous press releases, Annual Reports on Form 10-KSB, Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K. Forward-Looking Statements and Disclosure of Risk 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 release using the terms ``may,'' ``expects to,'' ``projects,'' ``estimates,'' ``plans,'' 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 that 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 current 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 (investor relations), 801/619-9320 Jack McNamara (media), 801/619-9320