Significant grades and widths continue to be intersected at the Bruce Channel Discovery



    70.43 g/t Gold over 1.20 Metres (2.05 oz/t over 3.93 ft) and 18.70 Metres
    at 8.05 g/t Gold (0.23 oz/t over 61.35 ft)

    TSX: GEA

    TORONTO, Oct. 22 /CNW/ - Gold Eagle Mines Ltd. (TSX: GEA) ("Gold Eagle"
or the "Company") is pleased to announce the latest series of drill holes 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 continues to intersect significant grades and widths
    -   Drilling continues to intersect multiple high grade zones with
        visible gold
    -   The mineralized envelope extends a minimum of 1,100 metres vertically
        with horizontal dimensions of 645 metres northeast-southwest by
        450 metres northwest-southeast
    -   The mineralized envelope remains open in all directions

    Highlights of latest drilling:

       Hole Number       Metres      grams/tonne      Feet       ounces/ton
                                       (g/t)                       (oz/t)
    -------------------------------------------------------------------------
         BC 19-9         18.70          8.05         61.35          0.23
    -------------------------------------------------------------------------
         BC 23-1          0.80          6.87          2.62          0.20
    -------------------------------------------------------------------------
         BC 23-2         10.40         16.95         27.56          0.49
    -------------------------------------------------------------------------
        Including         1.20         70.43          3.93          2.05
    -------------------------------------------------------------------------
         BC 25-2          0.40          7.63          1.31          0.22
    -------------------------------------------------------------------------
    

    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 645 metres northeast-southwest and 450 metres
northwest-southeast.
    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. Drilling continues at the BCD
which remains open in all directions.
    Four rigs are currently drilling on the Gold Eagle property. A fifth
drill rig, capable of drilling to 2,500 metres, is expected shortly. Upon
arrival, this rig will be relocated to the south-westerly "edge" of the
current BCD mineralized envelope. Both of the 2,500 metre drill rigs will then
commence a systematic step-out drilling program in a south-west direction
towards the Finn Zone located some 450 horizontal metres away. One of the
drill rigs will be located on the mainland and the other on McKenzie Island.

    BC 19 Series

    The BC 19 Series of holes are aimed at testing the under-explored area
between the BC 10 and BC 11 Series of holes to the northeast and the BC 21
Series located a further 200 metres to the southwest. These 'wedge' drill
holes are very important as they further establish the structural and
mineralogical continuity of gold zones within the mineralized envelope.
    See map, "Drill Plan (BC Series-18Oct07)", on the company website
http://www.goldeaglemines.com/_bin/images/maps.cfm

    BC 19-9
    -------
    BC 19-9 intersected a number of high grade structures between
1,222 metres to 1,684 metres, a core length of 462 metres. These structures
contain visible gold and show potential for both vertical and horizontal
continuity. Importantly, and in common with the other holes in the vicinity,
the main carbonate zone was intersected and proved again to be an excellent
marker horizon for high grade gold values occurring in the underlying Balmer
Assemblage metavolcanics and metasediments.

    
    BC 19-9
    -------------------------------------------------------------------------
         Intersection               Length              Gold
          (in Metres)                          --------------------
    -------------------------------------------
                                                   Grams    Ounces
                                                     per       per
                                                   Tonne       Ton
        From         To       Metres      Feet      (g/t)    (oz/t)
    -------------------------------------------------------------------------
    1,222.00      1,231.60      9.60     31.50      3.94      0.11
    -------------------------------------------------------------------------
    1,258.80      1,277.50     18.70     61.35      8.05      0.23        VG
    -------------------------------------------------------------------------
          including             9.67     31.73     11.28      0.33        VG
    -------------------------------------------------------------------------
    1,642.00      1,645.00      3.00      9.84      3.60      0.20
    -------------------------------------------------------------------------
    1,683.00      1,684.00      1.00      3.28      3.98      0.12
    -------------------------------------------------------------------------
    

    BC 23 Series

    The BC 23 'mother hole' is collared on the mainland 225 metres to the
northeast of the BC 19 Series. The BC 23 Series of drill holes are aimed at
further examining the under-explored area between BC 23 and the BC 19 series.
The BC 23 Series have successfully outlined several large zones of gold
mineralization in the northeastern section of the BCD, which show potential
for both vertical and horizontal continuity.
    See map, "Drill Plan (BC Series-18Oct07)", on the company website
http://www.goldeaglemines.com/_bin/images/maps.cfm

    BC 23-1.
    --------
    BC 23-1 intersected a number of high grade structures between
1,215.8 metres to 1,433.2 metres, a core length of 217.4 metres. These
mineralized structures show potential for both vertical and horizontal
continuity. BC 23-1 intersected a heavily altered sequence of Balmer
Assemblage metavolcanics and metasediments.

    
    BC 23-1
    -------------------------------------------------------------------------
         Intersection               Length              Gold
          (in Metres)                          --------------------
    -------------------------------------------
                                                   Grams    Ounces
                                                     per       per
                                                   Tonne       Ton
        From         To       Metres      Feet      (g/t)    (oz/t)
    -------------------------------------------------------------------------
    1,215.80      1,218.20      2.40      7.87      3.44      0.10
    -------------------------------------------------------------------------
          including             0.80      2.62      7.88      0.23
    -------------------------------------------------------------------------
    1,279.20      1,280.00      0.80      2.62      6.87      0.20
    -------------------------------------------------------------------------
    1,432.80      1,433.20      0.40      1.31      7.96      0.23
    -------------------------------------------------------------------------
    

    BC 23-2.
    --------
    BC 23-2 intersected a number of high grade structures between
1,210 metres to 1,325 metres, a core lenth of 115 metres. These structures
contain visible gold and show potential for both vertical and horizontal
continuity. BC 23-2 also intersected a heavily altered sequence of Balmer
Assemblage metavolcanics and metasediments.

    
    BC 23-2
    -------------------------------------------------------------------------
         Intersection               Length              Gold
          (in Metres)                          --------------------
    -------------------------------------------
                                                   Grams    Ounces
                                                     per       per
                                                   Tonne       Ton
        From         To       Metres      Feet      (g/t)    (oz/t)
    -------------------------------------------------------------------------
    1,210.00      1,211.00      1.00      3.28      7.25      0.21
    -------------------------------------------------------------------------
    1,281.00      1,282.00      1.00      3.28      5.39      0.16
    -------------------------------------------------------------------------
    1,291.00      1,293.00      2.00      6.56      4.32      0.13
    -------------------------------------------------------------------------
    1,314.60      1,325.00     10.40     27.56     16.95      0.49        VG
    -------------------------------------------------------------------------
          including             0.40      1.31    115.00      3.35        VG
    -------------------------------------------------------------------------
          including             1.20      3.93     70.43      2.05        VG
    -------------------------------------------------------------------------
    

    BC 25 Series

    The BC 25 "mother" hole is collared on the mainland at the location of
the BC 21 Series some 200 metres south-southwest of the BC 19 Series. The BC
25 Series of drill holes are targeted to further explore the area to the south
of the current BCD mineralized envelope.
    See map, "Drill Plan (BC Series-18Oct07)", on the company website
http://www.goldeaglemines.com/_bin/images/maps.cfm

    BC 25-1
    -------
    Several attempts to control excessive deviation were unsuccessful and BC
25-1 was eventually stopped at a depth of 972 metres, short of the targeted
zone.

    BC 25-2.
    --------
    BC 25-2 is a 'wedge' hole off BC 25-1 and was started at a depth of
446 metres. The hole entered the metavolcanics and metasediments of the Balmer
Assemblage at approximately 625 metres. Several 'wedges' were inserted to
correct the deviation and steer the drill hole westwards These were not able
to satisfactorily correct the hole direction and it was capped at a depth of
1,286 metres. BC 25-2 intersected a number of mineralized gold structures
between 1,006 metres to 1,074 metres, a core length of 68 metres.
    The results obtained from this hole indicate that the current BCD
mineralized envelope may extend further to the south-southeast than previously
thought. Importantly, this further supports the robust 450 metre
northwest-southeast mineralized envelope footprint outlined further to the
north. More drilling is planned for this specific area.

    
    BC 25-2
    -------------------------------------------------------------------------
         Intersection               Length              Gold
          (in Metres)                          --------------------
    -------------------------------------------
                                                   Grams    Ounces
                                                     per       per
                                                   Tonne       Ton
        From         To       Metres      Feet      (g/t)    (oz/t)
    -------------------------------------------------------------------------
    1,006.00      1,007.00      1.00      3.28      4.71      0.14
    -------------------------------------------------------------------------
    1,073.60      1,074.00      0.40      1.31      7.63      0.22
    -------------------------------------------------------------------------
    

    BC 27 Series

    The BC 27 "mother" hole is collared on the mainland at the location of
the BC 25 and BC 21 Series. The BC 27 holes are step-out holes aimed at
testing the area immediately to the southwest of the current mineralized
envelope. The initial drill holes in this series have been difficult to
control directionally, and BC 27-1, BC 27-2 and BC 27-3 have been stopped
short of the targeted zone due to excessive deviation.
    Drilling is continuing from the BC 27 Series and results will be released
when they become available.

    
    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 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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