Drilling extends the Finn Zone to depth and to the southwest



    TSX: GEA

    TORONTO, Dec. 6 /CNW/ - Gold Eagle Mines Ltd. (TSX: GEA) ("Gold Eagle" or
the "Company") is pleased to announce additional results from the FN Series of
holes on its 100% owned Gold Eagle property in Red Lake, Ontario. The Gold
Eagle property is situated along the Red Lake Trend, west of Goldcorp's Red
Lake and Campbell Mines and immediately southwest of Goldcorp's
Cochenour-Willans Mine.

    
    Highlights

      -  Step-out drilling extends the Finn Zone by 20 metres to the
         southwest and 45 metres vertically.
      -  The Finn Zone is a minimum of 470 metres in a horizontal direction
         and 345 metres deeper than the Bruce Channel Discovery mineralized
         envelope.
      -  The Finn Zone remains open in all directions.
      -  With the completion of the FN Series of holes, the rig has moved to
         the southerly edge of the Bruce Channel Discovery mineralized
         envelope in order to commence a series of step-out holes in a
         southwesterly direction towards the Finn Zone.
    

    See map, "Drill Plan (FN Series-Dec07)", on the company website
http://www.goldeaglemines.com

    The FN Series were initiated as part of a regional reconnaissance program
designed to obtain stratigraphic and structural geology information on the
southeastern area of the Gold Eagle property. Drilling has successfully
confirmed a significant new area of gold mineralization named the Finn Zone.
    Within the Finn Zone, gold mineralization, carbonate alteration zones and
host rocks have been intersected that bear striking similarities to the
structures and mineralization within the Bruce Channel Discovery ("BCD")
mineralized envelope, which is located approximately 475 metres to the
northeast.

    FN 1-4

    The FN 1-4 "wedge" hole was started from the FN 1-3 at a depth of
1,697 metres and was directed to test the southerly extent of the mineralized
structures reported in FN 1-3. The hole intersected clastic meta-sediments and
iron formation of the Bruce Channel Assemblage to 1,964 metres, and variably
altered volcanic and associated sedimentary rocks of the Balmer Assemblage to
the final hole depth of 2,528 metres.

    
    FN 1-4
    -------------------------------------------------------------------------
         Intersection               Length              Gold
          (in Metres)                          --------------------
    -------------------------------------------
                                                   Grams    Ounces
                                                     per       per
                                                   Tonne       Ton
        From         To       Metres      Feet      (g/t)    (oz/t)
    -------------------------------------------------------------------------
    2,435.90      2,436.60      0.70      2.30      3.66      0.11
    -------------------------------------------------------------------------
    

    Gold mineralization occurs within a broader biotitically altered zone of
carbonate veining and brecciation with associated disseminated pyrrhotite and
aresenopyrite.
    FN 1-4 confirmed that the Finn Zone mineralization extends to the
southwest by at least another 20 metres and by at least 45 metres vertically.
The Finn Zone remains open in all directions.

    FN 1-5

    The FN 1-5 "wedge" hole was started from FN 1-2 at a depth of
1,445.30 metres and was directed to provide additional information between
FN 1-2 and FN 1-4.
    FN 1-5 intersected the Bruce Channel Assembalge to a depth of
2,004.50 metres. Below this, and to a final depth of 2,235.50 metres, the hole
intersected clastic sediments, iron formation, and variably altered mafic
volcanics assigned to the Balmer Assemblage. Mineralization was associated
with quartz veins hosting disseminated pyrrhotite, arenopyrite and visible
gold.

    
    FN 1-5
    -------------------------------------------------------------------------
         Intersection               Length              Gold
          (in Metres)                          --------------------
    -------------------------------------------
                                                   Grams    Ounces
                                                     per       per
                                                   Tonne       Ton
        From         To       Metres      Feet      (g/t)    (oz/t)
    -------------------------------------------------------------------------
    2,090.20      2,091.90      1.70      5.58      5.35      0.16
    -------------------------------------------------------------------------
    2,098.00      2,099.15      1.15      3.77      3.80      0.11     VG
    -------------------------------------------------------------------------
    

    FN 1-5 was prematurely terminated at a depth of 2,235.50 metres and, as
such, did not reach its target depth. FN 1-5 intersected gold mineralization
on the westerly side of the currently identified Finn Zone.

    Bruce Channel Discovery Step Out Program

    With the FN 1 "mother-hole" having worn to the point where it is no
longer viable to continue drilling, the rig has been redeployed to a planned
location on McKenzie Island in order to commence a systematic step out program
from the current southwest edge of the BCD mineralized envelope. The goal of
this step out program is to test for the extension of the BCD mineralized
envelope in a southwesterly direction towards the Finn Zone. It is expected
that this important step out program could take between 18 to 24 months to
complete.

    
    Notes:

      -  VG - visible gold
      -  Lengths reported are core intersection lengths and do not represent
         true widths
      -  It is anticipated that true width estimates will be made possible
         after additional drilling
      -  Conversion Method: grams per tonne (g/t) multiplied by 0.0292 equals
         troy ounces per short ton (oz/t)
    

    About Gold Eagle Mines Ltd.

    Gold Eagle Mines Ltd is a Canadian based natural resource company
developing a significant new gold discovery in the prolific Red Lake gold
camp, located in Northern Ontario, Canada.

    Qualified Persons

    The drill program is being carried out under the direction of Mr. Chris
Collins, P.Geo and Mr. John F. Whitton, P.Geo, qualified persons within the
meaning of National Instrument 43-101. Mr. Collins and Mr. Whitton have
reviewed the contents of this news release.
    Sample preparation and assay procedures are carried out by ALS
Laboratories using standard fire assaying with an AA or gravimetric finish
where appropriate. Samples noted to contain Visible Gold when core logging are
assayed using a screened metallics procedure with a gravimetric finish.

    Forward-Looking Statement

    The statements made in this News Release may contain forward-looking
statements that may involve a number of risks and uncertainties. Actual events
or results could differ materially from the Company's expectations and
projections. Accordingly, readers should not place undue reliance on
forward-looking statements. For a more detailed discussion of such risks and
other factors, refer to Gold Eagle's filings with Canadian securities
regulators available on www.sedar.com or the Company's website at
www.goldeaglemines.com

    The Toronto Stock Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release and the
    information contained herein.

    %SEDAR: 00024756E




For further information:

For further information: please feel free to contact our offices at:
Tel: (416) 867-8998, Fax: (416) 867-9393, www.goldeaglemines.com

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GOLD EAGLE MINES LTD.

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