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)

TORONTO, October 22nd, 2007 – 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

(g/t)

Feet Ounces/ Ton

(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

(in Metres) Length

Gold

Grams

per

Tonne

(g/t)

Ounces

per

Ton

(oz/t)

From To Metres Feet

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

(in Metres) Length

Gold

Grams

per

Tonne

(g/t)

Ounces

per

Ton

(oz/t)

From To Metres Feet

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 length 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

(in Metres) Length

Gold

Grams

per

Tonne

(g/t)

Ounces

per

Ton

(oz/t)

From To Metres Feet

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 lenght 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

(in Metres) Length

Gold

Grams

per

Tonne

(g/t)

Ounces

per

Ton

(oz/t)

From To Metres Feet

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