Gold Eagle Mines Ltd. - Step out drilling continues to expand the size of the Bruce Channel Discovery



    TORONTO, Dec. 20 /CNW/ - Gold Eagle Mines Ltd. (TSX: GEA) ("Gold Eagle"
or the "Company") is pleased to announce the latest series of drill results on
the Bruce Channel Discovery ("BCD") at its 100% owned Gold Eagle property in
Red Lake Ontario. The Gold Eagle property is situated along the Red Lake
Trend, west of Goldcorp Inc's Red Lake and Campbell Mines and immediately
southwest of Goldcorp Inc's Cochenour-Willans Mine.

    
    Highlights:

    -   Drilling expands the BCD mineralized envelope by approximately
        50 metres to the southwest.
    -   The mineralized envelope extends a minimum of 1,100 metres vertically
        with horizontal dimensions of 695 metres northeast-southwest by
        450 metres northwest-southeast.
    -   Drilling continues to intersect significant grades and widths.
    -   Drilling continues to intersect multiple high-grade zones.
    -   The BCD mineralized envelope remains open in all directions.
    -   Systematic step-out drilling program from the BCD towards the Finn
        Zone to commence mid January, 2008.

    Highlights of latest drilling:

    Hole Number        Metres      Grams/ Tonne        Feet      Ounces/ Ton
                                      (g/t)                         (oz/t)
    -------------------------------------------------------------------------
    BC 19-13            7.60          19.83           24.93          0.58
    -------------------------------------------------------------------------
    BC 19-10            2.40          14.07            7.87          0.41
    -------------------------------------------------------------------------
    BC 19-11            2.30          10.25            7.55          0.30
    -------------------------------------------------------------------------
    BC 19-12            3.20          24.38           10.50          0.71
    -------------------------------------------------------------------------
      including         0.80          90.57            2.62          2.64
    -------------------------------------------------------------------------
    BC 19-12            0.60         165.50            1.97          4.83
    -------------------------------------------------------------------------
    BC 19-13            7.00          12.82           22.97          0.37
    -------------------------------------------------------------------------
      including         2.00          38.03            6.56          1.11
    -------------------------------------------------------------------------
    BC 19-14            2.00          17.17            6.56          0.50
    -------------------------------------------------------------------------
    BC 23-3             6.10           7.30           20.03          0.21
    -------------------------------------------------------------------------
      including         1.90          20.56            6.23          0.60
    -------------------------------------------------------------------------
    BC 27-4             0.80          44.30            2.62          1.29
    -------------------------------------------------------------------------
    

    The BCD is a significant gold structure intersected at approximately 800 
metres beneath the Bruce Channel waterway. The mineralized envelope is
currently estimated to extend a minimum of 1,100 metres vertically and
approximately 695 metres northeast-southwest and 450 metres
northwest-southeast. The BCD mineralized envelope remains open in all
directions.
    In common with Goldcorp Inc's Red Lake Mine, Campbell Mine and Cochenour
Willans Mine, the BCD lies within the Balmer Assemblage. The structural and
mineralogical characteristics are very similar to the aforementioned mines.
Gold is found in its native form as well as within sulphide rich zones -
particularly those with 'felted' fine grained arsenopyrite. A number of high
grade structures have been identified within the BCD mineralized envelope and
are showing horizontal and vertical continuity.

    BC 19 Series

    The BC 19 Series of holes are designed to test the under-explored area
between the BC 10 and BC 11 Series of holes to the northeast and the BC 21
Series located 200 metres to the southwest. Drilling is continuing on the BC
19 Series of holes and additional results will be reported as they become
available.

    See map, "Drill Plan (BC Series-19Dec07)", on the company website
    http://www.goldeaglemines.com/_bin/images/maps.cfm

    BC 19-10
    --------
    BC 19-10 was wedged off the "mother hole" at a depth of 861 metres with
the objective to further test the mineralized structures reported in BC 19-9
along the strike to the southwest. The hole was drilled to a final depth of
1,512 metres and intersected a number of mineralized structures between
1,338.50 and 1,494.20 metres, a core length of 155.70 metres. The hole tracked
approximately 65 metres south of BC 19-9 and again intersected a carbonate
zone below which meta-volcanic and sedimentary rocks of the Balmer Assemblage
are host to gold mineralization.

    
    BC 19-10
    -------------------------------------------------------------------------
        Intersection                                 Gold
         (in Metres)          Length       ---------------------------
    -------------------------------------    Grams per    Ounces per
        From      To     Metres     Feet    Tonne (g/t)    Ton (oz/t)
    -------------------------------------------------------------------------

     1,338.5   1,344.80    6.30    20.67          3.97          0.12
    -------------------------------------------------------------------------
        Including          0.70     2.30         19.00          0.55
    -------------------------------------------------------------------------
    1,346.20   1,348.30    2.10     6.89          5.69          0.17      VG
    -------------------------------------------------------------------------
    1,356.40   1,358.80    2.40     7.87         14.07          0.41
    -------------------------------------------------------------------------
        Including          0.80     2.62         31.80          0.93
    -------------------------------------------------------------------------
    1,430.40   1,431.10    0.70     2.30          5.21          0.15
    -------------------------------------------------------------------------
    1,461.90   1,462.70    0.80     2.62         10.25          0.30
    -------------------------------------------------------------------------
    1,489.30   1,489.60    0.30     0.98          3.66          0.11      VG
    -------------------------------------------------------------------------
    1,492.60   1,494.20    1.60     5.25          5.15          0.15
    -------------------------------------------------------------------------
    

    BC 19-11
    --------
    BC 19-11 was 'wedged' off BC 19-10 at a depth of 982.70 metres and
drilled to a final depth of 2,025 metres. BC 19-11 was directed to track
steeper and north of the cut in BC 19-10 and also intersected carbonate zones
between 1,260 and 1,308 metres. Below this, several structures within altered
meta-volcanic and metasediments of the Balmer Assemblage were intersected
between 1,309.90 and 1,970.80 metres, a core length of 660.90 metres.

    
    BC 19-11
    -------------------------------------------------------------------------
        Intersection                                 Gold
         (in Metres)          Length       ---------------------------
    -------------------------------------    Grams per    Ounces per
      From        To     Metres     Feet    Tonne (g/t)    Ton (oz/t)
    -------------------------------------------------------------------------

    1,309.90   1,314.30    4.40    14.44          3.49          0.10
    -------------------------------------------------------------------------
         Including         1.90     6.23          6.09          0.18      VG
    -------------------------------------------------------------------------
    1,333.40   1,335.70    2.30     7.55          3.39          0.10      VG
    -------------------------------------------------------------------------
    1,398.90   1,399.70    0.80     2.62          4.29          0.13
    -------------------------------------------------------------------------
    1,507.70   1,510.90    3.20    10.50          4.77          0.14
    -------------------------------------------------------------------------
         Including         0.80     2.62         15.45          0.45
    -------------------------------------------------------------------------
    1,582.60   1,583.30    0.70     2.30          3.50          0.10
    -------------------------------------------------------------------------
    1,680.90   1,683.20    2.30     7.55         10.25          0.30
    -------------------------------------------------------------------------
         Including         1.05     3.44         16.77          0.49      VG
    -------------------------------------------------------------------------
    1,865.00   1,866.00    1.00     3.28          6.50          0.19
    -------------------------------------------------------------------------
    1,970.00   1,970.80    0.80     2.62          7.40          0.22
    -------------------------------------------------------------------------
    

    BC 19-12
    --------
    BC 19-12 was 'wedged' off BC 19-11 at a depth of 1,127 metres. The hole
was drilled to a final depth of 2,219.80 metres and directed to flatten and
track south of BC 19-11. The hole intersected carbonate zones between 1,294
and 1,341 metres followed by mafic meta-volcanics and metasediments of the
Balmer Assemblage to the final depth. A number of mineralized structures, some
with associated visible gold were intersected between 1,410.20 and
2,173 metres, a core length of 762.80 metres.

    
    BC 19-12

    -------------------------------------------------------------------------
        Intersection                                 Gold
         (in Metres)          Length       ---------------------------
    -------------------------------------    Grams per    Ounces per
        From        To    Metres    Feet     Tonne (g/t)    Ton (oz/t)
    -------------------------------------------------------------------------
    1,410.20   1,410.60    0.40     1.31         11.85          0.35      VG
    -------------------------------------------------------------------------
    1,434.20   1,436.00    1.80     5.91          6.27          0.18
    -------------------------------------------------------------------------
    1,681.00   1,684.20    3.20    10.50         24.38          0.71      VG
    -------------------------------------------------------------------------
        Including          0.80     2.62         90.57          2.64      VG
    -------------------------------------------------------------------------
    1,710.80   1,714.80    4.00    13.12         17.74          0.52
    -------------------------------------------------------------------------
        Including          0.80     2.62         80.70          2.35      VG
    -------------------------------------------------------------------------
    1,848.60   1,849.40    0.80     2.62          3.97          0.12
    -------------------------------------------------------------------------
    1,969.20   1,970.70    1.50     4.92         11.55          0.34      VG
    -------------------------------------------------------------------------
        Including          0.25     0.82         51.80          1.81      VG
    -------------------------------------------------------------------------
    2,146.70   2,147.30    0.60     1.97        165.50          4.83
    -------------------------------------------------------------------------
    2,170.60   2,173.00    2.40     7.87          3.94          0.11
    -------------------------------------------------------------------------

    BC 19-13
    --------
    BC 19-13 was 'wedged' off BC 19-12 at a depth of 1,157 metres and drilled
to a final hole depth of 1,972 metres. The hole was designed to test the area
north of BC 19-12, between BC 19-12 and BC 19-11. A number of mineralized
structures were intersected between 1,362 to 1,963 metres, a core length of
601 metres.

    BC 19- 13
    -------------------------------------------------------------------------
        Intersection                                 Gold
         (in Metres)          Length       ---------------------------
    -------------------------------------    Grams per    Ounces per
        From        To   Metres     Feet    Tonne (g/t)    Ton (oz/t)
    -------------------------------------------------------------------------
    1,362.00  1,365.00     3.00     9.84          4.36          0.13
    -------------------------------------------------------------------------
    1,429.00  1,430.00     1.00     3.28          3.37          0.10
    -------------------------------------------------------------------------
    1,490.0   1,491.00     1.00     3.28          4.08          0.12
    -------------------------------------------------------------------------
    1,499.00  1,500.00     1.00     3.28          4.87          0.14
    -------------------------------------------------------------------------
    1,530.00  1,533.00     3.00     9.95          3.95          0.12
    -------------------------------------------------------------------------
    1,545.00  1,546.00     1.00     3.28         16.30          0.48
    -------------------------------------------------------------------------
    1,665.00  1,667.00     2.00     6.56          9.56          0.28
    -------------------------------------------------------------------------
    1,758.00  1,765.00     7.00    22.97         12.82          0.37
    -------------------------------------------------------------------------
        Including          2.00     6.56         38.03          1.11
    -------------------------------------------------------------------------
    1,771.00  1,777.00     6.00    19.68          3.41          0.10
    -------------------------------------------------------------------------
    1,782.00  1,789.60     7.60    24.93         19.83          0.58
    -------------------------------------------------------------------------
        Including          1.00     3.28        141.50          4.13
    -------------------------------------------------------------------------
    1,818.20  1,819.60     1.40     4.59          4.10          0.12
    -------------------------------------------------------------------------
    1,962.00  1,963.00      1.0     3.28         14.50          0.42
    -------------------------------------------------------------------------
    

    BC 19-14
    --------
    BC 19-14 was 'wedged' off the "mother hole" at a depth of 797.40 metres
and was designed to test the mineralized structures intersected in BC 19-10 
further to the southwest. A number of mineralized structures were intersected
between 891 to 1,329.80 metres, a core length of 438.80 metres. The drill hole
was abandoned at a depth of 1,370.30 metres, short of its targeted depth.

    
    BC 19-14
    -------------------------------------------------------------------------
        Intersection                                 Gold
         (in Metres)          Length       ---------------------------
    -------------------------------------    Grams per    Ounces per
        From        To   Metres     Feet    Tonne (g/t)    Ton (oz/t)
    -------------------------------------------------------------------------
      891.00    893.00     2.00     6.56         17.17          0.50
    -------------------------------------------------------------------------
    1,286.90  1,292.80     5.90    19.36          3.12          0.09      VG
    -------------------------------------------------------------------------
    1,299.10  1,301.90     2.80     9.19          4.22          0.12
    -------------------------------------------------------------------------
    1,305.90  1,308.50     2.60     8.53          3.19          0.09
    -------------------------------------------------------------------------
        Including          0.40     1.31          7.28          0.21      VG
    -------------------------------------------------------------------------
    1,328.20  1,329.80     1.60     5.25          4.11          0.12
    -------------------------------------------------------------------------
    

    BC 23 Series

    The BC 23 Series of drill holes are collared on the mainland 225 metres
northeast of the BC 19 Series. This series is aimed at further examining the
under explored area between the BC 23 and BC 19 Series of holes.
    See map, "Drill Plan (BC Series-18Oct07)", on the company website
http://www.goldeaglemines.com/_bin/images/maps.cfm

    BC 23-3
    -------
    BC 23-3 was wedged off the "mother hole" at a depth of 980 metres and was
designed to further test the mineralized structures southwest of the
intersections reported in BC 23-2. The hole intersected a number of
mineralized structures between 1,484 and 1,784.72 metres, a core length of
300.72 metres. The mineralized structures were hosted within heavily altered
Balmer Assemblage, mafic meta-volcanics and metasediments.

    
    BC 23 - 3
    -------------------------------------------------------------------------
        Intersection                                 Gold
         (in Metres)          Length       ---------------------------
    -------------------------------------    Grams per    Ounces per
        From        To   Metres     Feet    Tonne (g/t)    Ton (oz/t)
    -------------------------------------------------------------------------
    1,484.00  1,488.00     4.00    13.12          3.71          0.11
    -------------------------------------------------------------------------
    1,492.80  1,496.00     3.20    10.50          4.59          0.13
    -------------------------------------------------------------------------
    1,547.40  1,548.20     0.80     2.62          3.28          0.10
    -------------------------------------------------------------------------
    1,563.30  1,564.70     1.40     4.59          5.12          0.16
    -------------------------------------------------------------------------
    1,581.30  1,587.40     6.10    20.03          7.30          0.21
    -------------------------------------------------------------------------
        Including          1.90     6.23         20.56          0.60      VG
    -------------------------------------------------------------------------
    1,612.50  1,613.20     0.70     2.30         13.95          0.41
    -------------------------------------------------------------------------
    1,633.72  1,634.00     0.28     0.92         10.40          0.30      VG
    -------------------------------------------------------------------------
    1,654.60  1,655.00     0.40     1.31         25.10          0.73      VG
    -------------------------------------------------------------------------
    1,671.40  1,675.30     3.90    12.80          7.04          0.21
    -------------------------------------------------------------------------
        Including          0.30     0.98         48.20          1.41      VG
    -------------------------------------------------------------------------
    1,767.30  1,767.10     0.80     2.62          9.35          0.27
    -------------------------------------------------------------------------
    1,784.31  1,784.72     0.41     1.35          8.34          0.24      VG
    -------------------------------------------------------------------------
    

    This hole marks the completion of the BC 23 Series of drill holes.

    BC 27 Series

    The BC 27 Series of drill holes are collared on the mainland at the
location of the BC 21 and 25 Series'. The BC 27 Series are step-out holes
designed to test the area immediately southwest of the current BCD mineralized
envelope.
    See map, "Drill Plan (BC Series-19Dec07)  on the company website
http://www.goldeaglemines.com/_bin/images/maps.cfm

    BC 27-4
    -------
    BC 27-4 intersected significant gold mineralization approximately 50
metres to the southwest of the currently identified BCD mineralized envelope.
The hole intersected several mineralized structures some with associated
visible gold between 1,559.20 and 1,813.43 metres, a core length of 234.23
metres. These mineralized structures are hosted within altered mafic
meta-volcanics and metasediments of the Balmer Assemblage. Consistent with
several of the BC 19 series holes located to the northeast, significant
carbonate zones were intersected underneath which the altered volcanics host
the mineral structures.

    
    BC 27-4
    -------------------------------------------------------------------------
        Intersection                                 Gold
         (in Metres)          Length       ---------------------------
    -------------------------------------    Grams per    Ounces per
        From        To   Metres     Feet    Tonne (g/t)    Ton (oz/t)
    -------------------------------------------------------------------------
    1,559.20  1,562.60     3.40    11.15          3.48          0.10
    -------------------------------------------------------------------------
        Including          1.60     5.25          6.10          0.18      VG
    -------------------------------------------------------------------------
    1,565.00  1,570.50     5.50    18.04          3.17          0.09      VG
    -------------------------------------------------------------------------
    1,653.20  1,655.80     2.60     8.53         13.12          0.38
    -------------------------------------------------------------------------
        Including          0.40     1.31         63.90          1.86      VG
    -------------------------------------------------------------------------
    1,677.20  1,678.00     0.80     2.62         44.30          1.29
    -------------------------------------------------------------------------
    1,813.12  1,813.43     0.31     1.02         41.40          1.21      VG
    -------------------------------------------------------------------------
    

    Additional drilling is ongoing on the BC 27 Series and results will be
reported as they become available.

    BCD Step-out Drilling Program

    During 2007, four drill rigs were active on the Gold Eagle property.
Drilling operations are currently shut down for the Christmas season but are
scheduled to recommence by mid January, 2008. A fifth drill rig, capable of
drilling to a depth of 2,500 metres, is expected to be on site for the 2008
drilling campaign. Upon arrival, both 2,500m drill rigs will be relocated to
the southwesterly "edge" of the current BCD mineralized envelope, one set up
on the mainland and one on McKenzie Island. These drill rigs will commence a
systematic step-out drilling program in a south-west direction from the BCD
towards the Finn Zone, located some 470 horizontal metres away.

    GEA Added to S&P/TSX Composite Index

    Standard & Poor's Canadian Index Operations has announced that Gold Eagle
will be included in the S&P/TSX Composite Index as of December 24, 2007.
    The S&P/TSX Composite Index is the headline index and the principal broad
market measure for the Canadian equity markets.
    Changes to the S&P/TSX Composite Index will also affect the S&P/TSX
Capped Composite Index. Stocks added to or removed from the S&P/TSX Composite
Index will also be added to or removed from the appropriate Global Industry
Classification Standard (GICS) sector index.
    For the Standard & Poor's press release ourlining Gold Eagle's addition
to their index, please the link below:
    http://www2.standardandpoors.com/spf/pdf/index/121407_Canada-Rebal.pdf

    
    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

    Gold Eagle Mines Ltd is a Canadian based junior 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: Feel free to contact our offices at: Tel: (416)
867-8998, Fax: (416) 867-9393, www.goldeaglemines.com

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