Golden Eagle Celebrates Surpassing Milestone of 3,000 Troy Ounces and $1 Million in Revenue by Offering the Cangalli Mine's First One-Ounce Gold Nugget,.
Thursday June 19, 9:04 am ET
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SALT LAKE CITY--(BUSINESS WIRE)--June 19, 2003-- Golden Eagle International, Inc. (OTCBB:MYNG - News) announced today that it is offering the opportunity to one individual to receive the first one-ounce gold nugget that was recovered during the last week of May from its Cangalli, Bolivia gold mine.
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The offer is to commemorate the Company surpassing the milestone of producing over 3,000 troy ounces of gold, and over $1 million in revenue, since initiating operations September 30, 2002, at its mine located in the heart of the Tipuani Gold District, an area that has produced 32 million ounces of gold in its known history.
In order to celebrate these events, the Company is offering one individual the opportunity to receive its first one-ounce gold nugget (actual weight of 33 grams) by being selected randomly from those who have registered to receive Golden Eagle's E-mail Alerts. Over 1,800 interested persons have signed on for Eagle E-mail Alerts in recent months to receive ongoing information about the Company.
To be eligible to be randomly selected to receive the one-ounce gold nugget, interested persons must register for Eagle E-mail Alerts by e-mailing the Company at eaglealert@earthlink.net, by Friday, June 27, 2003. Those who have previously registered, and whose names still remain on the E-mail Alert list, will automatically be eligible for the random selection process. The individual selected will be notified on Tuesday, July 1, 2003.
"We are extremely pleased, despite some slowdowns in the past in our expansion efforts, by the fact that we have exceeded so many of our production expectations," stated Terry C. Turner, Golden Eagle's President and CEO. "Now, we are glad that we can share the excitement that we have created in Bolivia by the success of our project with one of our investors or interested friends through giving away the first one-ounce gold nugget recovered from our mine."
Ronald Atwood, Ph.D., Golden Eagle's VP for Development, is currently in Cangalli, Bolivia, supervising the installation of custom equipment in the Company's final phase of its 3,500 tpd plant expansion. Dr. Atwood has ordered modifications to the expanded screening section of the larger plant to ensure the recovery of the coarser gold nuggets that are appearing more frequently than had previously been anticipated or seen in the ore.
Other News on the Company:
The Company will report mid-month June production figures from its Cangalli mine, which are currently being finalized, on Tuesday, June 24.
Golden Eagle has finished its due diligence, to its satisfaction, that was required by its Letter of Intent for the acquisition of the Buen Futuro mining concession in the Ascension Gold/Copper Trend in eastern Bolivia's Precambrian Shield. The Company will now proceed to close the acquisition in Bolivia pursuant to the terms and conditions of its Letter of Intent.
Golden Eagle International, Inc. is a gold exploration and mining company located in Salt Lake City, Utah; and La Paz and Santa Cruz, Bolivia. The Company is currently focusing its efforts on developing its mining rights on 74,000 acres in the Tipuani Gold Mining District located in western Bolivia; and continuing exploration on 127,500 acres in eastern Bolivia's Precambrian Shield. Golden Eagle is a mining company with a social conscience, having provided many humanitarian programs at its mine site, including the only hospital, doctor and nurse in Cangalli, Bolivia, for the past six years, as well as having provided for the educational needs of the students in the area during its exploration stage. 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
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 in accordance with the Private Securities Litigation Reform Act of 1995. 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.
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Contact:
Golden Eagle International, Inc.
Investor Relations:
Sabrina Martinez, 801/619-9320 |
