Step-out drilling continues to expand the Bruce Channel Discovery at depth and to the southwest



    Latest results include 4.50 Metres at 13.13 g/t Gold (0.38 oz/t over
    14.76 ft) and 0.30 Metres at 225 g/t Gold (6.56 oz/t over 0.98 ft)

    TSX: GEA

    TORONTO, July 16 /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
located in Red Lake, Ontario. The Gold Eagle property is situated along the
prolific Red Lake Trend, west of Goldcorp Inc's operating Red Lake and
Campbell Mines and immediately southwest of Goldcorp Inc's past producing
Cochenour-Willans Mine.

    
    Highlights:

    -   Step-out drilling expands the BCD mineralized envelope by
        approximately 80 metres to the southwest and by approximately
        350 metres vertically
    -   The mineralized envelope extends a minimum of 1,450 metres vertically
        with horizontal dimensions of approximately 800 metres northeast-
        southwest and by 450 metres northwest-southeast
    -   The mineralized envelope remains open in all directions
    -   Drilling continues to intersect significant multiple high grade zones
        with visible gold


    Highlights of latest drilling:

    Hole Number        Metres       Grams/Tonne        Feet       Ounces/Ton
                                       (g/t)                        (oz/t)
    -------------------------------------------------------------------------
    BC 30-1             0.30          225.00           0.98          6.56
    -------------------------------------------------------------------------
    BC 30-1             4.20            7.19          13.78          0.21
    -------------------------------------------------------------------------
    including           0.85           23.50           2.79          0.69
    -------------------------------------------------------------------------
    BC 30-1             0.70           41.30           2.30          1.20
    -------------------------------------------------------------------------
    BC 30-2             6.00            6.88          19.69          0.20
    -------------------------------------------------------------------------
    including           2.70           12.57           8.86          0.37
    -------------------------------------------------------------------------
    BC 30-3             4.50           13.13          14.76          0.38
    -------------------------------------------------------------------------
    including           0.70           60.87           2.30          1.78
    -------------------------------------------------------------------------
    BC 30-3             0.30          122.00           0.98          3.56
    -------------------------------------------------------------------------
    BC 30-3             0.30           55.10           0.98          1.60
    -------------------------------------------------------------------------
    BC 33-1             0.55           63.18           1.80          1.84
    -------------------------------------------------------------------------
    BC 33-1             1.65           28.71           5.41          0.83
    -------------------------------------------------------------------------
    including           0.75           54.83           2.46          1.60
    -------------------------------------------------------------------------
    

    The BCD is a significant gold structure intersected at approximately
800 metres beneath the shallow Bruce Channel waterway. The mineralized
envelope is currently estimated to extend a minimum of 1,450 metres
vertically, with a horizontal footprint of approximately 800 metres
northeast-southwest and approximately 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 both 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 these structures exhibit horizontal and
vertical continuity.

    BC 30 Series

    The BC 30 Series of drill holes are intended to test for a continuation
of the BCD mineralized envelope in a southwest direction towards the Finn
Zone. These holes were collared on McKenzie Island and are being directed
eastwards across the Bruce Channel towards the mainland.

    See map, "Drill Plan (BC Series-16Jul08)", on the company website

    BC 30-1
    -------
    BC 30-1 is the mother hole for the BC 30 step-out series and was drilled
to a final depth of 2,409.90 metres. The drill hole intersected granodiorite,
quartz diorite and augite diorite phases of the McKenzie Island Stock to a
depth of 1,500.99 metres. Several narrow zones of quartz veining enveloped by
sericitic alteration and associated with gold mineralization were encountered
within the intrusive stock.
    Meta-sedimentary rocks of the Bruce Channel Assemblage were intersected
between 1,500.99 and 1,717.30 metres, with lithologies comprising greywacke,
siltstone and sandstone. A quartz diorite between 1,717.30 and 1,771.00 metres
marked the transition from the Bruce Channel Assemblage to rocks of the Balmer
Assemblage which were intersected to a final depth of 2,409.90 metres.
    The Balmer Assemblage lithologies comprised mafic volcanic and
sedimentary rocks, with minor felsic volcanics to a depth of 1,960.00 metres.
Ubiquitous garnet, biotite, and chlorite alteration characterized this
interval. At 1,825.80 metres to 1,834.00 metres alteration comprising
silicification as quartz veins and sericite was associated with sulphide
mineralization including disseminated pyrrhotite, pyrite, and fine felted
arsenopyrite with local visible gold. Variolitic mafic flows with pervasive
biotite alteration were intersected between 1,960.00 and 2,188.00 metres.
    A zone of carbonate followed by silicification and brecciation between
2,188.00 and 2,196.40 metres is similar in appearance to zones seen in the
area of the "Upper Main Zone" located to the northeast within the BCD.
    Below this to a final depth of 2,409.90 metres, biotite altered mafic
volcanics with intercalations of chert-magnetite iron formation were noted.
Gold mineralization occurs within sheared and brecciated zones associated with
quartz veining and disseminated pyrrhotite and arsenopyrite mineralization
within the iron formations.
    This drill hole was oriented more steeply than the previous mother holes
to allow for more optimum flattening of the ensuing wedge holes. Mineralized
zones encountered at depth within iron formations are similar in style to
those in the hanging wall sequences in the BC 19 and BC 21 series of holes.
Compilation incorporating the information from this round of drilling in
conjunction with the BC 19 and 21 Series allows for the extension of the Bruce
Channel Discovery by approximately 80 metres horizontally along its
northeast-southwest axis and by approximately 350 metres vertically.
Additional wedge holes are currently in progress.

    
    BC 30-1
    -------------------------------------------------------------------------
      Intersection                                  Gold
      (in Metres)               Length        ------------------
    ------------------------------------------  Grams  Ounces
                                                 per     per       Comments
    From         To       Metres       Feet     Tonne    Ton
                                                (g/t)  (oz/t)
    -------------------------------------------------------------------------
                                                                    McKenzie
    270.00      270.28     0.28        0.92      3.39   0.10  VG  Island Stk.
    -------------------------------------------------------------------------
                                                                    McKenzie
    570.00      570.80     0.80        2.62      3.87   0.11      Island Stk.
    -------------------------------------------------------------------------
                                                                    McKenzie
    605.00      605.80     0.80        2.62      7.53   0.22      Island Stk.
    -------------------------------------------------------------------------
                                                                    McKenzie
    626.00      626.80     0.80        2.62      9.56   0.28      Island Stk.
    -------------------------------------------------------------------------
                                                                    McKenzie
    879.40      879.70     0.30        0.98    225.00   6.56  VG  Island Stk.
    -------------------------------------------------------------------------
                                                                      Balmer
    1,713.00  1,714.00     1.00        3.28      3.56   0.10      Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    1,825.80  1,826.60     0.80        2.62      3.69   0.11      Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    1,829.80  1,834.00     4.20       13.78      7.19   0.21  VG  Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
        including          0.85        2.79     23.50   0.69  VG  Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,150.70  2,152.10     1.40        4.59      3.22   0.09      Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,276.50  2,276.80     0.30        0.98      3.42   0.10  VG  Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,316.90  2,317.60     0.70        2.30     41.30   1.20      Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,327.40  2,328.10     0.70        2.30      3.07   0.09      Assemblage
    -------------------------------------------------------------------------
    

    BC 30-2
    -------
    BC 30-2 was wedged off the mother hole at a depth of 1,494.50 metres and
oriented to direct the hole to the north of, and shallower than, the trace of
BC 30-1. The hole was drilled to a final depth of 1,990.00 metres.
    A quartz diorite of the McKenzie Island Stock was intersected from the
wedge to a depth of 1,506.55 metres. Meta-sediments of the Bruce Channel
Assemblage followed to a depth of 1,673.00 metres, with lithologies comprising
greywacke, siltstone and sandstone.
    A granodiorite at 1,673.00 to 1,748.50 metres marked the transition into
Balmer Assemblage rocks to the final hole depth. Gold mineralization in the
granodiorite occurred in quartz veins hosting disseminated pyrrhotite, pyrite
and chalcopyrite between 1,740.20 and 1,744.00 metres.
    The Balmer Assemblage lithologies consisted of mafic volcanic and
associated sedimentary rocks, with lesser felsic volcanics to 1,910.50 metres.
Pervasive chloritic alteration overprinted by a zone of silicification and
brecciation with disseminated pyrrhotite, pyrite, sphalerite, arsenopyrite and
gold mineralization occurred between 1,796.50 to 1,802.50 metres. Between
1,923.00 and the final depth of 1,990.00 metres the Balmer Assemblage
comprised pervasively biotite altered mafic volcanic flows.

    
    BC 30-2
    -------------------------------------------------------------------------
      Intersection                                  Gold
      (in Metres)               Length        ------------------
    ------------------------------------------  Grams  Ounces
                                                 per     per       Comments
    From         To       Metres       Feet     Tonne    Ton
                                                (g/t)  (oz/t)
    -------------------------------------------------------------------------
                                                                       Bruce
                                                                     Channel
    1,552.00  1,553.00     1.00        3.28      3.07   0.09      Assemblage
    -------------------------------------------------------------------------
                                                                    McKenzie
    1,742.20  1,744.00     1.80        5.91      5.81   0.17      Island Stk.
    -------------------------------------------------------------------------
                                                                      Balmer
    1,796.50  1,802.50     6.00       19.69      6.88   0.20  VG  Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
        including          2.70        8.86     12.57   0.37  VG  Assemblage
    -------------------------------------------------------------------------
    

    BC 30-3
    -------
    BC 30-3 was wedged off the mother hole at a depth of 1,636.80 metres and
directed upwards and north of the traces of BC 30-1 and BC 30-2. It was
drilled to a final depth of 2,577.00 metres.
    Greywacke of the Bruce Channel Assemblage was intersected to
1,677.30 metres. A granodiorite, followed to a depth of 1,741.40 metres.
Quartz stringers with disseminated pyrrhotite and gold mineralization occurred
between 1,729.00 to 1,730.00 metres.
    Meta-sediments of the Bruce Channel Assemblage were intersected from
1,741.40 to 1,790.00 metres. Strong silicification between 1,789.20 and
1,794.80 marked the transition into meta-volcanic and meta-sedimentary rocks
of the Balmer Assemblage. This silicified zone is associated with disseminated
pyrrhotite, magnetite, arsenopyrite and gold mineralization.
    The Balmer Assemblage comprises mafic volcanic and associated sedimentary
rocks, with lesser felsic volcanics to a depth of 1,894.50 metres followed by
biotite altered mafic flows to a depth of 2,031.65 metres. A sheared zone of
carbonate overprinted by silica alteration at 2,031.65 to 2,046.00 metres host
weakly disseminated pyrrhotite, pyrite and arsenopyrite, and is similar to the
zone noted in BC 30-1 at 2,188.00 metres.
    Between 2,046.00 and the final depth of 2,577.00 metres the hole
intersected pervasively biotite altered mafic volcanics with intercalations of
chert-magnetite iron formation. Gold mineralization occurred in zones of
shearing, fracturing and brecciation with quartz veins and disseminated
pyrrhotite and arsenopyrite within the iron formations.
    BC 30-3 was flatter than the mother hole, and traversed further across
the Bruce Channel. The mineralized structures encountered in BC 30-3 are
similar in style to mineralized structures noted at greater depth from the
drill holes that have been directed from the mainland.

    
    BC 30-3
    -------------------------------------------------------------------------
      Intersection                                  Gold
      (in Metres)               Length        ------------------
    ------------------------------------------  Grams  Ounces
                                                 per     per       Comments
    From         To       Metres       Feet     Tonne    Ton
                                                (g/t)  (oz/t)
    -------------------------------------------------------------------------
                                                                    McKenzie
    1,729.00  1,730.00     1.00        3.28      9.11   0.27      Island Stk.
    -------------------------------------------------------------------------
                                                                       Bruce
                                                              Channel/Balmer
    1,789.20  1,794.80     5.60       18.37      6.02   0.18      Assemblage
    -------------------------------------------------------------------------
                                                                       Bruce
                                                              Channel/Balmer
        including          1.60        5.25     11.47   0.34      Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,202.90  2,207.40     4.50       14.76     13.13   0.38      Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
        including          0.70        2.30     60.87   1.78  VG  Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,209.10  2,209.40     0.30        0.98    122.00   3.56  VG  Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,216.20  2,216.90     0.70        2.30      3.62   0.11      Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,276.75  2,277.05     0.30        0.98     55.10   1.60  VG  Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,410.95  2,411.75     0.80        2.62      4.22   0.12      Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,416.60  2,416.85     0.25        0.82     21.10   0.62  VG  Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,421.50  2,423.00     1.50        4.92      4.08   0.12  VG  Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,479.20  2,480.00     0.80        2.62      5.20   0.15      Assemblage
    -------------------------------------------------------------------------
                                                                      Balmer
    2,562.00  2,563.00     1.00        3.28      3.84   0.11      Assemblage
    -------------------------------------------------------------------------
    

    The BC 30 Series of drill holes are continuing and results will be
reported as they become available.

    BC 33 Series

    The BC 33 Series of holes are collared on the mainland at the same
location as the BC 31 and BC 19 Series but oriented in a more westerly
direction than the BC 31 Series, and inclined less steeply to evaluate the
open area between the BC 19 and BC 31 Series of drill holes.

    BC 33-1
    -------
    BC 33-1, the mother hole for the BC 33 Series of holes was drilled from
the collar to a final depth of 1,881.00 metres.
    The drill hole intersected iron formation, meta-sedimentary and volcanic
rocks of the Bruce Channel Assemblage to a depth of 783.50 metres. This was
followed by a succession of mafic volcanics with subordinate ultramafic rocks
of the Balmer Assemblage to a depth of 1,239.20 metres. At 1,239.20 to
1,281.18 metres the hole intersected carbonate zones associated with shearing.
Disseminated magnetite and pyrrhotite was noted throughout this interval,
however no significant assays were returned. From 1,281.18 to 1,677.05 metres
the hole encountered mafic volcanic rocks which were variably altered to
biotite and chlorite. Between 1,677.05 and 1,721.20 metres pervasively biotite
and chlorite alerted mafic volcanics host local sheared and brecciated zones
with associated silica and carbonate alteration containing disseminated
pyrrhotite and arsenopyrite with fine disseminated gold. Below this, the hole
remained in variably biotite altered mafic volcanics of the Balmer Assemblage
to its final depth of 1,881.00 metres.

    
    BC 33-1

    -------------------------------------------------------------------------
      Intersection                                        Gold
       (in Metres)                Length           ------------------
    -----------------------------------------------   Grams  Ounces
                                                       per     per
    From           To       Metres       Feet         Tonne    Ton
                                                      (g/t)  (oz/t)
    -------------------------------------------------------------------------
    1,683.45    1,684.00     0.55        1.80         63.18   1.84     VG
    -------------------------------------------------------------------------
    1,709.30    1,710.10     0.80        2.62          3.35   0.10
    -------------------------------------------------------------------------
    1,720.10    1,721.75     1.65        5.41         28.71   0.83     VG
    -------------------------------------------------------------------------
          including          0.75        2.46         54.83   1.60     VG
    -------------------------------------------------------------------------

    The BC 33 Series of drill holes are continuing and additional results will
be reported as 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 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 metallic's 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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