TORONTO, October 11, 2007 – Gold Eagle Mines Ltd. (TSX: GEA) (“Gold Eagle” or the “Company”) is pleased to report that reconnaissance drilling has commenced at the Goldray Channel target, along the North West section of the Gold Eagle Property.

The first hole has been collared on Goldray Island with an azimuth of 162o and a dip of -62o, directed towards McKenzie Island (refer to Map). The hole is targeting structures that have the potential to host the westerly extensions of the mineralized zones mined at Goldcorp’s McKenzie Red Lake Mine. Regionally, this drilling is located proximal to the postulated intersection of the Post Narrows Deformation Zone and the Red Lake Trend, and their associated zones of alteration. Initially 2 holes totalling approximately 3,000 meters are planned, with the first hole expected to reach a depth of around 1,400 meters. This program is part of the ongoing evaluation of the regional structural and stratigraphic framework of the Gold Eagle property.

Drilling has also commenced on the “pilot hole” for Gold Eagle’s new exploration shaft on McKenzie Island. Once completed, the core will undergo detailed examination by Gold Eagle’s consultants for inclusion in the final engineering design work that is currently in progress.

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.

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

Contact Us
For further information please feel free to contact our offices at:
Tel: 416-867-8998; Fax: 416-867-9393
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.