GOLD EAGLE MINES LTD.

Significant Grades and Widths Continue to be Interested at the Bruce Channel Discovery

Latest drill results include 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:

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.

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 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.

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 23-2.
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 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 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.

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 Person
The 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 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.