FN Series drilling program confirms new zone of gold mineralization at Bruce Channel



    TSX: GEA

    TORONTO, Sept. 10 /CNW/ - Gold Eagle Mines Ltd. (TSX: GEA) ("Gold Eagle"
or the "Company") is pleased to announce its latest drill 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 south-west of
Goldcorp's Cochenour-Willans Mine.

    
    Highlights

    -   Latest drilling results from the FN Series (FN 1-2 and FN 1-3)
        confirms a significant new area of gold mineralization, named the
        Finn Zone (after Finntown, one of the first settlements on
        McKenzie Island).
    -   The Finn Zone lies within the Balmer Assemblage approximately
        450 metres west-southwest of the Bruce Channel Discovery mineralized
        envelope.
    -   Drilling is continuing at the FN Series and results will be released
        once they become available.
    -   Upon completion of the FN Series of holes, the rig will be moved to
        the Bruce Channel Discovery mineralized envelope, and will commence a
        series of step-out holes towards the Finn Zone.
    -   Mr. Chris Collins appointed as VP of Exploration

    See map, "Drill Plan (FN Series-Sept07)",
    on the company website http://www.goldeaglemines.com

    The FN Series are collared on McKenzie Island approximately 1.5 kilometres
west-southwest of the collar of BC 21 on the mainland.

    The FN Series holes were initiated as a regional reconnaissance
exploration program designed to obtain data on the stratigraphy and geology of
the south-eastern area of the Gold Eagle property. Drilling has successfully
intersected carbonate zones and host rocks which bear striking similarities to
units intersected within the current Bruce Channel Discovery mineralized
envelope which lies approximately 450 metres away.

    FN 1-2
    The FN 1-2 "wedge" hole was started as a step-out from the FN 1-1 "mother"
hole at a depth of 1,040 metres with an azimuth of 173 degrees and a dip of
081 degrees. It was pushed south-eastwards before being allowed to curve
gradually to the northeast to its final depth of 2,529.6 metres.

    See map, "Drill Plan (FN Series-Sept07)", on the company website
http://www.goldeaglemines.com

    FN 1-2 intersected a strong carbonate zone within the Balmer Assemblage
with associated silicification from approximately 2,404 metres to
2,413 metres. This was followed by a succession of altered mafic, volcanic and
clastic sediments to the final hole depth.

    Significant results are as follows:

    FN 1-2

    -------------------------------------------------------------------------
        Intersection         Length                      Gold
        (in Metres)                       -----------------------------------
    --------------------------------------     Grams per     Ounces per
      From       To       Metres    Feet      Tonne (g/t)    Ton (oz/t)
    -------------------------------------------------------------------------
    2,501.40  2,506.20     4.80    15.75         7.97           0.23
    -------------------------------------------------------------------------
      (*) Including        1.80     5.91        18.45           0.54
    -------------------------------------------------------------------------
    (*) The above 5.91 feet of 0.54 oz/t includes 1.97 feet of 0.99 oz/t
    -------------------------------------------------------------------------

    FN 1-3
    The FN 1-3 "wedge" hole was started as a step-out from the FN 1-2 hole at
a depth of 1,495 metres with an azimuth of 099 degrees and a dip of -73
degrees. Two further wedges were used to push the hole further to the south to
allow for a large step out. The hole reached a depth of 2,559.25 metres at a
horizontal distance from FN 1-2 of approximately 140 metres. The hole
intersected a series of altered mafic, volcanic and clastic sediments with
minor associated cherts.

    Significant results are as follows:

    FN 1-3

    -------------------------------------------------------------------------
        Intersection          Length                      Gold
        (in Metres)                       -----------------------------------
    --------------------------------------     Grams per     Ounces per
      From       To       Metres    Feet      Tonne (g/t)    Ton (oz/t)
    -------------------------------------------------------------------------
    1,551.55  1,551.88     0.33     1.08         9.55           0.28
    -------------------------------------------------------------------------
    2,071.80  2,072.80     1.00     3.28         4.10           0.12
    -------------------------------------------------------------------------
    2,096.45  2,096.82     0.37     1.21         9.50           0.28      VG
    -------------------------------------------------------------------------
    2,338.30  2,340.00     1.70     5.58         4.21           0.12      VG
    -------------------------------------------------------------------------
    2,431.10  2,432.75     1.65     5.41         5.87           0.17      VG
    -------------------------------------------------------------------------

    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 0.292 equals
        troy ounces per short ton (oz/t)
    

    FN 1-4
    The FN 1-4 "wedge" hole was started as a step-out from the FN 1-3 hole at
a depth of 1,697 metres. It was wedged to the south of FN 1-3 to allow for
another cut at the mineralized zone below 2,000 metres. The final depth of the
drill hole is 2,528 metres. Detailed logging and sampling are currently under
way and assay results will be released when available.

    FN 1-5
    The FN 1-5 "wedge" hole (which has now commenced drilling) started from
FN 1-2 at a depth of 1,445.30 metres with an azimuth of 102 degrees and a dip
of -74 degrees. This is the final hole planned from the FN Series at this
stage of the program. This hole is also testing the continuity and extent of
the Finn Zone gold mineralization.

    Mr. Chris Collins (P.Geo, B.Sc, MBA): Vice President of Exploration
    With the expanding regional exploration program and progress to an
Advanced Underground Exploration Program for the Bruce Channel Discovery, Gold
Eagle has appointed Chris Collins as Vice President of Exploration, with a
primary focus on regional exploration. During his career, Mr. Collins worked
for 17 years as a professional geologist with Noranda Mining Inc. He earned
his B.Sc in 1985 from Memorial University of Newfoundland and his MBA in 2004
from Saint Mary's University in Halifax.

    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.
    The Company has a treasury of approximately C$110 million held with a
major Canadian bank. The funds are fully secured and are redeemable upon
demand, and are invested as either GIC's (guaranteed investment certificates)
or held in a cash account.

    Qualified Person
    The drill program is being carried out under the direction of Mr. John F.
Whitton, P.Geo, qualified person within the meaning of National Instrument 
43-101. Mr. Whitton has 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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