Company Information for Gold Eagle Mines Ltd

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Company Statement

Gold Eagle Mines Ltd. (“Gold Eagle”, or the “Company”), is a Canadian based gold exploration and development company currently advancing the significant Bruce Channel Discovery (“BCD”), on its 100% owned Gold Eagle property in the Red Lake gold camp located in Northwestern Ontario, Canada.

The Company is well funded to continue the development of the BCD with continued surface drilling, and an Advanced Underground Exploration Program. The Company has also identified a number of regional targets within the Gold Eagle property.

Gold Eagle Mines Ltd. is listed on the Toronto Stock Exchange (TSX) under the symbol “GEA”, and has been added to the S&P/TSX Global Gold Index and the S&P/TSX.

Current Operations

Red Lake Gold Camp
The Red Lake Greenstone Belt is located in the western portion of the Uchi sub-province of the Superior Province of the Canadian Shield. It is typical of Archean granite-greenstone terrains comprised of eastward trending volcano-sedimentary belts with associated synvolcanic intrusives. The geology of Red Lake has most recently been described by Sanborn-Barrie et.al (2001 and 2004).

The Red Lake belt exhibits evidence of several phases of deformation which are interpreted to be closely linked with hydrothermal activity and gold mineralization (Sanborn-Barrie et. al. 2004). An early non penetrative D0 folded the Balmer assemblage prior to deposition of the Neoarchean assemblages. A penetrative D1 stage produced northerly trending, south plunging F1 folds and associated S1 and L1 fabrics. A penetrative D2 stage resulted in northeast trending F2 folds which plunge moderately to steeply to the northeast and southeast trending folds plunging moderately (45o to 65o) to the southeast.

The Red Lake belt is one of Canada’s most prolific gold regions, producing over 20 million ounces of gold as of the end of 2005. Most of the production has come from essentially three deposits, the Campbell & Red Lake Mines (17.1 M oz; Crick et. al. 2006), the Madsen Mine (2.45 M oz) and the Cochenour-Willans Mine (1.24 M oz).

Bruce Channel Discovery
The Bruce Channel Discovery (BCD) is located in the northeast corner of the Gold Eagle property, approximately 800 metres beneath the shallow Bruce Channel waterway that separates McKenzie Island from the Mainland.

SUMMARY

• Significant new zone of mineralization announced in August 2005 named, the Bruce Channel Discovery
• +85,000 metres of diamond drilling in 98 drill holes completed to date
• Current "footprint" of the BCD mineralized envelope are 1.45 kilometres in a vertical direction and horizantally, approximately 800 metres in a NE-SW direction and 450 metres in a NW-SE direction
• The BCD mineralized envelope remains open in all directions

Drilling is continuing along the Bruce Channel with the use of oriented wedges where an initial “mother” hole is drilled to intersect the targeted zone and a subsequent series of secondary holes are “wedged” off the mother hole to provide secondary intersections along the trend of the mineralized area.

Visible Gold

• Coarse visible gold has been documented at numerous locations throughout the BCD.
• Two variations of visible gold mineralization has been documented to date
• Gold mineralization with juxtaposing veinlets of quartz and or quartz-carbonate.
• Gold mineralization in extensive brecciated zones in associated with extensive fine grained acicular aresnopyrite.

STEP-OUT DRILING PROGRAM

• 2008 drill program budgeted for up to 34,000 m of surface drilling
• Two deep rigs, each capable of drilling to depths of 2.5 km have been set up on either side of the channel, one on the mainland and one on the Island.
• Each rig will systematically step-out down the channel in a southwesterly direction towards the Finn Zone located some 500 m away.
• Step-out program expected to take up to 24 months to complete.
• Smaller rig(s) will continue to work behind the step-out rigs  to further delineate several of the high grade structures already identified within the BCD mineralized envelope.
• The information from the infill drilling will prove to be invaluable as Gold Eagle transitions from surface exploration to underground definition drilling.

Regional Exploration
Finn Zone

• Located at the southwest end of the Bruce Channel waterway near the southern boundary of the property.
• Drilling initiated in Fall of 2006.
• Undertaken to enhance stratigraphic and structural geological knowledge beneath the Bruce Channel near the southern boundary of the property.
• FN 1 Series of holes encountered a significant new area of gold mineralization referred to as the Finn Zone (named after Finntown, the original settlement on McKenzie Island).
• Finn Zone comprises gold mineralization, and carbonate alteration zones within the Balmer Assemblage host rocks.
• Striking similarities to the structures and mineralization found within the BCD mineralized envelope.
• Finn Zone is located approximately 500 metres southwest of the edge of the current BCD mineralized envelope.
• Drilling ceased in the fall of 2007 and the drill rig was re-deployed to initiate the step-out drilling program on the BCD towards the Finn Zone.

Goldray Channel

• Goldray is located at the northwest corner of the property.
• Drilling at Goldray commenced in October 2007
• Targeted to test for the possible extensions of structures hosting gold mineralization at the past producing McKenzie Red Lake Mine
• Four (4) drill holes, totaling almost 4,500 metres were completed during the fall of 2007 and winter of 2008.
• Two (2) holes were drilled from Goldray Island, one hole encountered altered, sheared, and brecciated mafic volcanic rocks.
• Follow up drilling from McKenzie Island with one mother hole and a wedge hole further evaluated the alteration in both the volcanic and the McKenzie Island Stock.

Although encouraging geology was found during this exploratory drilling, additional drilling is not contemplated in this area at this time due to the focus on the BCD.

Mainland Target

• Target area is located on the mainland at the southeast corner of the Gold Eagle property.
• Recent maps (Sanborne et al. 2004), show this area underlain by felsic volcanic and sedimentary rocks of the Bruce Channel Assemblage, in contact with the Balmber Assemblage.
• Regional geological compliation supports the possibility of a southwest plunging antiformal fold hinge zone in the Balmer Assemblage which in this area could extend onto the Gold Eagle property at depth.

Western Discovery Zone (WDZ)

• The WDZ is located on McKenzie Island in the north-central portion of the Gold Eagle property, approximately 500 metres west of the old Gold Eagle Mine shaft.
• The WDZ occurs as a series of subparallel gold rich quartz veins and veinlets within the McKenzie Island Stock.
• The veins range from several centimeters to 2 metres in thickness.
• Wall rock is typically sericite altered with accessory sulphhide minerals including pyrite, shalerite, galena and molydbenite.
• Extents of the zone are defined by the limits of the altered rocks, which contain geochemically anamolous gold values.
• The WDZ lies approx. 220 metres below surface and has been traced approx. 490 metres along an east-west direction, and approx. 370 metres along a north-south direction over a 230 metre elevation.
• It is believed that the WDZ may be the continuation of the McKenzie Red Lake Mine which mined approx. 700,000 ounces of gold up to the northern border of the Gold Eagle property.
• Drilling undertaken on this area in 2003 and 2004 culminated with the completion of a NI 43-101 compliant inferred resource, a copy of which is
• It is postulated that a series of these flat lying veins may be discovered beneath the WDZ
• Further exploration drilling will need to test this theory at a later date.

Geographical Spread

Located in Dome Township, approximately 6 km from the town of Red Lake, Northwestern Ontario. The Gold Eagle property consits of 35 contiguous patented claims with an area of 512.6 ha.

Board of Directors and Key Management

Simon Lawrence	President and CEO
Brent Peters	CFO
Michael Leskovec CA	Controller
John Whitton B. A. Mod., M.A., P. Geo.	Project Manager
Chris Collins P.Geo, MBA	VP of Exploration
Michael Pahkala B.Sc., P.Eng	Project Engineer
Dennis Forgeron	Senior Geologist
CONSULTANTS
John Harvey	Project Geologist
Chester Kuryliw	Regional Geologist
William Shaver	Shaft Development
DIRECTORS
Robert Cudney	Director and Co-Chairman
Stephen G. Roman	Director and Co-Chairman
Simon Lawrence	Director
Terry MacGibbon	Director
Eberhard Scherkus	Director
Thomas Plasden	Director
Derek Rance	Director
Douglas Scharf	Director

Company Address 20 Adelaide Street East Suite 1105 Toronto, Ontario, Canada M5C 2T6 Telephone: 416-867-8998 Facsimile: 416-867-9393 Website: http://www.goldeaglemines.com

Additional Address/Key Contact

Capital Issued and Outstanding;106,631,730 Options;7,087,963 Fully Diluted;116,482,124

Annual General Meeting June 2008

Year End December 31st

Broker/Analyst Reports

01/03/07 - Orion Securities Initiates Coverage on GEA

Major Shareholders

Goodman & Co

Dynamic

Northfield Capital

Related News

27/06/08 - Sooner Rather Than Later A Major Will Make A Bid For Gold Eagle Mines
03/07/07 - Gold Eagle Mines Makes New Discoveries In The Red Lake Region

Most Recent Statement

25/09/08 - Goldcorp Announces Closing of Gold Eagle Transaction
18/09/08 - Final Court Order for Gold Eagle Approved
16/09/08 - Gold Eagle Shareholders Overwhelmingly Approve Business
12/08/08 - Significant Grades and Widths Continue to be Intersected at the Bruce Channel Discovery
11/08/08 - 2008 second quarter financial results
31/07/08 - Goldcorp consolidates Red Lake District with $1.5 billion acquisition of Gold Eagle