Golden Eagle Applauds Bolivia's Return to Total Tranquility

SALT LAKE CITY, UTAH— November 3, 2003---Golden Eagle International, Inc. (MYNG, OTCBB) announced today that it believes that Bolivia, where the Company has an operating gold mine, and extensive mineralized landholdings, has returned to total tranquility. The Company applauded the country's new administration for its role in restoring calm to Bolivia so quickly and moving the country forward.
Golden Eagle also announced that its Cangalli gold operations, located in the heart of the prolific gold producing Tipuani Gold District 165 miles from La Paz, performed well during the unrest and are back to normal. Shipments of parts and other supplies have resumed as scheduled. The Company indicated that its October production results would be announced on Thursday, November 6, 2003.

"We are extremely pleased with the focused and energetic leadership demonstrated by President Carlos Mesa during his first weeks in office," stated Terry C. Turner, Golden Eagle's CEO. "So many political issues have been quickly negotiated to a satisfactory conclusion for all concerned. Confidence in the future and real optimism are the two most visible reactions of the Bolivia people."
Among the key announcements that have come out of Bolivia within the past several days are:
·    Carlos Mesa will complete his full term in office through 2007, utilizing his vigorous brand of hands-on leadership to maintain stability and promote Bolivia's image to the world as a good place to do business.
·    The World Bank announced this past week that it will back the Mesa administration with $95 million in immediate development funds, and will finance a total of 11 approved projects for a total of $455 million (none of which includes Golden Eagle's projects).
·    Brazil expressed unconditional support for Mesa's administration and assured Bolivia's immediate admission as a full member of MERCOSUR, the Southern Cone Common Market, which will give Bolivia's producers easier, less costly access to enormous markets in Brazil, Argentina, Chile, Paraguay and Uruguay.
·    Brazil also agreed to increase its current contract for consumption of Bolivian natural gas by $200 million; invest $780 million in infrastructure improvements in Bolivia; and forgave Bolivia's national debt with Brazil of $52 million.
·    CAF, the Andean Development Corporation, agreed this past week to invest $100 million this year in "social infrastructure, poverty reduction and strengthening democratic institutions."

·    The Bush Administration sent Peter De Shazo, Undersecretary of State for the Western Hemisphere, together with the U.S. Ambassador to Bolivia, David Greenlee, to express complete U.S. support for Mesa's administration, and to negotiate on issues regarding the formation of ALCA, the Free Trade Zone of the Americas, which would also give Bolivian producers easier, less costly access to the markets of the entire hemisphere.

"The phenomenal silver lining to our recent unrest is the current rush of support from Bolivia's neighboring countries in South America, and the hemisphere, to ensure the stability and economic prosperity of a sister country," commented Mac Delozier, Golden Eagle's VP for Administration, from the Company's offices in La Paz. "This rapid turnaround inside Bolivia, and outpouring of international support, is helping to create the kind of business atmosphere in which Golden Eagle can thrive and grow in both the near and the long-term."
Eagle E-mail Alerts: Over 2,400 investors have signed up to receive Eagle E-mail Alerts recently. If you are interested in receiving these alerts, please e-mail the Company at: eaglealert@geii.com.
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 and development 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 seven years, as well as having provided for the educational needs of the students of the area. 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," "anticipates," "targets," and other terms denoting future possibilities, are forward-looking statements in accordance with the U.S. 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.   




This article courtesy of http://goldjewelryinfosite.com.
You may freely reprint this article on your website or in
your newsletter provided this courtesy notice and the author
name and URL remain intact.

Submit Your Article