TORONTO, December 20th, 2007 – 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:

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.

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 19-11
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 19-12
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 was 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- 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 BC19-11.  A number of mineralized structures were intersected between 1,362 to 1,963 metres, a core length of 601 metres.

BC 19-14
BC 19-14 was ‘wedged’ off the “mother hole” at a depth of 797.40 metres and was desgned 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 1,370.3 metres, short of its targeted depth.

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 are hosted within heavily altered Balmer Assemblage, mafic meta-volcanics and metasediments.

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.

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 254.23 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 beneath which the altered volcanics host the mineralized structures.

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 outlining 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

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.