GOLD EAGLE MINES LTD.

Latest drill results include 65.70 Metres (215.55 ft) At 8.74 g/t Gold (0.25 oz/t)
and 196.77 g/t Over 0.37 Metres (5.74 oz/t Over 1.21 ft)

TORONTO, February 16th, 2007 – Gold Eagle Mines Ltd (TSX:GEA) (OTCBB:GEAFF) (“Gold Eagle”) 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's Red Lake and Campbell Mines and immediately southwest of Goldcorp’s Cochenour-Willans Mine.

Highlights:

• The BCD mineralized envelope is currently 615m NE-SW by 450m NW-SE by 1100m vertically
• The BCD mineralized envelope remains open in all directions
• Drilling continues to intersect significant grade and widths
• Drilling continues to intersect multiple high grade zones
• Drilling in 2007 to continue southwards down the Bruce Channel

Highlights of the latest drilling:

Hole Number	Metres	Grams/tonne	Feet	Ounces/ton
BC 17-16	1.25	8.49	4.10	0.25
BC 17-19	65.70	8.74	215.55	0.25
BC 17-19	0.37	196.77	1.21	5.74
BC 19-3	8.80	8.44	28.87	0.25*
BC 19-3	1.35	37.88	4.43	1.10
BC 19-3	1.15	65.88	3.77	1.90
BC 19-4	3.70	28.48	12.14	0.83
BC 19-4	7.20	8.45	23.62	0.25

The latest series of holes represent the balance of the wedged holes drilled during 2006 from the BC 17, BC 19 and BC 21 ‘mother holes’. Drilling to date has consistently intersected vein hosted high-grade gold values and extensive gold-rich sulphide zones within brecciated structures.  Moreover, the drilling continues to highlight significant grades over significant widths and the increasing size of the drill database is establishing mineralogical continuity.

The 2007 exploration program for Bruce Channel will consist of over 25,000 meters of drilling. This drilling will further test the dimensions of the large BCD mineralized envelope, which is currently estimated to extend a minimum of 615 metres in a northeast-southwest direction, 450 metres in a northwest-southeast direction, and 1,100 metres vertically. Mineralization remains open in all directions.

Drill Results:

BC 17 Series
The BC-17 series of wedged drill holes has continued to further delineate the gold bearing zones in the North East area of the BCD. Drilling from the BC-17 setup has now been completed and the drill rig will be relocated to the south west. Further drilling will focus on continuing to establish continuity between these holes and the previously announced BC-10 and BC-11 series located further to the South West.

BC 17-15
Intersection (in Metres)		Length		Gold
From	To	Metres	Feet	Grams per Tonne (g/t)	Ounces per Ton (oz/t)
922.70	923.50	0.80	2.62	8.71	0.25
1008.80	1009.50	0.70	2.30	9.86	0.29

BC 17-16
Intersection (in Metres)		Length		Gold
From	To	Metres	Feet	Grams per Tonne (g/t)	Ounces per Ton (oz/t)
1216.65	1221.14	4.49	14.73	2.61	0.08	VG
1222.55	1223.80	1.25	4.10	8.49	0.25
1310.10	1310.80	0.60	1.97	1.97	0.16

BC 17-17
Intersection (in Metres)		Length		Gold
From	To	Metres	Feet	Grams per Tonne (g/t)	Ounces per Ton (oz/t)
844.30	845.00	0.70	2.30	3.67	0.11
850.80	858.30	7.50	24.61	3.30	0.10

BC 17-19
Intersection (in Metres)		Length		Gold
From	To	Metres	Feet	Grams per Tonne (g/t)	Ounces per Ton (oz/t)
1029.00	1094.70	65.70	215.55	8.74	0.25
1121.90	1122.60	0.70	2.30	6.56	0.19
1124.00	1126.90	2.90	9.51	5.89	0.17
1131.10	1131.80	0.70	2.30	4.96	0.14
1248.00	1248.70	0.70	2.30	28.90	0.81
1293.83	1294.20	0.37	1.21	196.77	5.74	VG
1297.95	1299.25	1.30	4.27	7.56	0.22

BC 19 Series
The BC-19 series of wedged drill holes continues to establish continuity in the area between the BC-10 and BC-11 series of holes to the North East and the BC-21 series of holes to the South West of BC-19.

BC 19-3
Intersection (in Metres)		Length		Gold
From	To	Metres	Feet	Grams per Tonne (g/t)	Ounces per Ton (oz/t)
1357.00	1369.80	12.80	41.99	6.48	0.19
including		8.80	28.87	8.44	0.25
1497.77	1498.43	0.66	2.17	3.29	0.10	VG
1638.70	1639.40	0.70	2.30	9.11	0.27
1652.10	1653.50	1.40	4.59	9.92	0.29	VG
1663.30	1664.65	1.35	4.43	37.88	1.10	VG
including		0.40	1.31	116.23	3.39	VG
1676.90	1679.38	2.48	8.14	5.33	0.16	VG
1682.40	1683.55	1.15	3.77	65.08	1.90	VG
including		0.27	0.89	267.02	7.79	VG
1,758.45	1758.72	0.27	0.89	10.73	0.31	VG
1778.30	1779.70	1.40	4.59	3.97	0.12
1827.00	1831.80	4.80	15.75	4.41	0.13	VG
2026.33	2026.70	0.37	1.21	46.25	1.35	VG
2,041.40	2,043.00	1.60	5.25	4.76	0.14

BC 19-4
Intersection (in Metres)		Length		Gold
From	To	Metres	Feet	Grams per Tonne (g/t)	Ounces per Ton (oz/t)
1285.30	1297.30	12.00	39.37	3.51	0.10
1337.30	1338.10	0.80	2.62	3.43	0.10
1346.90	1347.70	0.80	2.62	4.18	0.12
1372.80	1376.50	3.70	12.14	28.48	0.83	VG
including		0.96	3.15	97.43	2.84	VG
1,389.80	1,390.60	0.80	2.62	3.47	0.10
1394.60	1396.80	2.20	7.22	21.02	0.61
1408.00	1415.20	7.20	23.62	8.45	0.25
including		2.40	7.87	22.72	0.66
1470.60	1471.10	0.50	1.64	3.74	0.11
1506.00	1507.60	1.60	5.25	3.05	0.09
1664.25	1666.25	2.00	6.56	2.93	0.09
1705.90	1706.40	0.50	1.64	5.36	0.16
1738.20	1739.00	0.80	2.62	3.05	0.09
1792.20	1792.85	0.65	2.13	5.81	0.17
1828.40	1829.20	0.80	2.62	3.71	0.11
1374.50	1375.45	0.96	3.15	97.43	2.84

BC 19-5
Intersection (in Metres)		Length		Gold
From	To	Metres	Feet	Grams per Tonne (g/t)	Ounces per Ton (oz/t)
1659.80	1660.40	0.60	1.97	7.51	0.22
1682.20	1672.80	0.60	1.97	10.70	0.31
1706.80	1707.26	0.46	1.51	9.70	0.28
1773.40	1773.71	0.31	1.02	3.87	0.11
1903.60	1904.40	0.80	2.62	6.32	0.18

BC 21 Series

The BC-21 series of wedged holes are aimed at establishing further continuity in the area between BC-21 and BC-19. Poor ground conditions have necessitated both BC 21-2 and BC 21-3 be stopped short before reaching their targeted depth. Drilling is continuing from BC-21.

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: grams per tonne times 0.0292 equals troy ounce per short ton.

Qualified Person
The Gold Eagle Mine Property 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 SGS Laboratories in Red Lake 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.

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.

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.