GOLD EAGLE MINES LTD.

Gold Eagle Exploration Update

TORONTO, May 29th, 2007 – Gold Eagle Mines Ltd. (TSX: GEA) (OTCBB:GEAFF) (“Gold Eagle” or the “Company”) is pleased to provide an exploration update  on 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.

Exploration Update

There are currently four drill rigs operating on the Gold Eagle property (see map
  http://www.goldeaglemines.com/_bin/images/maps.cfm). Three of the drill rigs (BC 23, BC 19 and BC 25) are drilling to expand and further delineate the Bruce Channel Discovery (“BCD”).  The fourth rig (FN Series) is being used for further exploration of the regional structure and geology of the Gold Eagle property. It is anticipated that additional rigs will be secured in the near future in order to expand the regional exploration program.

Exploration Manager John Whitton, (B.Sc Geology, P.Geo.) states that  “the 2007 drill program is progressing according to plan and will include both “wedge” holes and “step-out” holes.  The series of “wedge“ drill holes released by the company on 3rd May 2007 and February 16th, 2007, provide extremely important data that continues to affirm the horizontal and vertical continuity of high-grade gold zones within the large BCD mineralized envelope. ‘Step-out’ drill holes, aimed at expanding the overall size or “footprint” of the mineralized zone both horizontally and vertically, are also in progress and results will be released as the program develops. The BCD mineralized envelope remains open in all directions.”

Bruce Channel Discovery

The Bruce Channel Discovery is a significant gold structure beneath the Bruce Channel waterway. To date approximately 63,000 metres of diamond drilling has been completed and the mineralized envelope is currently estimated to extend a minimum of 1,100 metres vertically and approximately 615 metres northeast–southwest and 450 metres northwest–southeast. In common with Goldcorp Inc’s Red Lake Mine, Campbell Mine and Cochenour-Willans Mine, the gold mineralization of the BCD is hosted within the Balmer Assemblage.

The BCD remains open in all directions and the 2007 drilling program is designed to further delineate the several high grade structures within the mineralized envelope and expand the size of the mineralized envelope by drilling step-out holes. A minimum of 25,000 metres of drilling has been planned for 2007.

BC 23 Series

Located on the mainland and is assessing the “gap” between the BC 10/11 and BC 17 Series of holes. The BC 17 Series is located at the North East “corner” of the Gold Eagle property and these holes have defined the BCD close to the boundary with Goldcorp’s Cochenour-Willans property. Goldcorp has been drilling for the past 18 months along this “border zone” contiguous with the Gold Eagle property’s northeast boundary.

BC 19 Series

Located on the mainland approximately 200 metres southwest of the BC 23 Series. The BC 19 Series is aimed at establishing continuity between the BC 10/11 series of holes to the northeast and the BC 21 Series located a further 200 metres southwest. These ‘’wedge’ drill holes are very important as they provide structural and mineralogical continuity of gold zones within the mineralized envelope.

BC 25 Series

Located on the mainland close to BC 21 (the location of the step-out hole reported in press release November 21st 2006). The BC 25 Series “mother” hole is a step-out to the southwest of the currently defined mineralized envelope.

Regional Exploration

The fourth drill rig is exploring the structural and stratigraphic framework of the Bruce Channel. This rig is completing an initial assessment of the broader geological structure within which the BCD is located. The current regional exploration holes are the FN or WW series

FN Series

Located on McKenzie Island and collared approximately 1.5 kilometres west-southwest of BC 21 on the mainland, the FN (FN 1 and FN 2) Series was initiated as a reconnaissance exploration program to test the conformation and extent of the McKenzie Island Granodiorite and to further examine the potentially prospective “contact” area between the granodiorite and the  metavolcanic/metasedimentary Bruce Channel/Balmer Assemblages.

The FN 1, “mother” hole has been successfully completed and a series of “wedge” holes are now underway. It is anticipated that results from the FN 1 and FN 2 holes will be released in due course.

WW Series

Located on the mainland, WW 1 and WW 2 are collared approximately 600 metres south-southeast of BC 25.   A relatively small rig was obtained on a short term basis and has been used to collar and drill “pilot” holes to approximately 1,000 metres. These may then be deepened by a larger drill rig when one becomes available.

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.

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.