STEP-OUT DRILLING CONTINUES TO EXPAND THE BRUCE CHANNEL DISCOVERY
AT DEPTH AND TO THE SOUTHWEST
Latest results include 4.50 Metres at 13.13 g/t Gold (0.38 oz/t over 14.76 ft) and 0.30 Metres at 225 g/t Gold (6.56 oz/t over 0.98 ft)

TORONTO, July 16th, 2008 � 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 located in Red Lake, Ontario. The Gold Eagle property is situated along the prolific Red Lake Trend, west of Goldcorp Inc's operating Red Lake and Campbell Mines and immediately southwest of Goldcorp Inc�s past producing Cochenour-Willans Mine.

Highlights:

• Step-out drilling expands the BCD mineralized envelope by approximately 80 metres to the southwest and by approximately 350  metres vertically
• The mineralized envelope extends a minimum of 1,450 metres vertically with horizontal dimensions of approximately 800 metres northeast-southwest and by 450 metres northwest-southeast
• The mineralized envelope remains open in all directions
• Drilling continues to intersect significant multiple high grade zones with visible gold

Highlights of latest drilling:

Hole Number	Metres	Grams/Tonne (g/t)	Feet	Ounces/Ton (oz/t)
BC 30-1	0.30	225.0	0.98	6.56
BC 30-1	4.20	7.19	13.78	0.21
including	0.85	23.50	2.79	0.69
BC 30-1	0.70	41.30	2.30	1.20
BC 30-2	6.00	6.88	19.69	0.20
including	2.70	12.57	8.86	0.37
BC 30-3	4.50	13.13	14.76	0.38
including	0.70	60.87	2.30	1.78
BC 30-3	0.30	122.00	0.98	3.56
BC 30-3	0.30	55.10	0.98	1.60
BC 33-1	0.55	63.18	1.80	1.84
BC 33-1	1.65	28.71	5.41	0.83
including	0.75	54.83	2.46	1.60

The BCD is a significant gold structure intersected at approximately 800 metres beneath the shallow Bruce Channel waterway. The mineralized envelope is currently estimated to extend a minimum of 1,450 metres vertically, with a horizontal footprint of approximately 800 metres northeast�southwest and approximately 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 both 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 these structures exhibit horizontal and vertical continuity.

BC 30 Series

The BC 30 Series of drill holes are intended to test for a continuation of the BCD mineralized envelope in a southwest direction towards the Finn Zone. These holes were collared on McKenzie Island and are being directed eastwards across the Bruce Channel towards the mainland.

See map, �Drill Plan (BC Series-16Jul08)�, on the company website

BC  30-1
BC 30-1 is the mother hole for the BC 30 step-out series and was drilled to a final depth of 2,409.90 metres. The drill hole intersected granodiorite, quartz diorite and augite diorite phases of the McKenzie Island Stock to a depth of 1,500.99 metres. Several narrow zones of quartz veining enveloped by sericitic alteration and associated with gold mineralization were encountered within the intrusive stock.

Meta-sedimentary rocks of the Bruce Channel Assemblage were intersected between 1,500.99 and 1,717.30 metres, with lithologies comprising greywacke, siltstone and sandstone. A quartz diorite between 1,717.30 and 1,771.00 metres marked the transition from the Bruce Channel Assemblage to rocks of the Balmer Assemblage which were intersected to a final depth of 2,409.90 metres.

The Balmer Assemblage lithologies comprised mafic volcanic and sedimentary rocks, with minor felsic volcanics to a depth of 1,960.00 metres. Ubiquitous garnet, biotite, and chlorite alteration characterized this interval. At 1,825.80 metres to 1,834.00 metres alteration comprising silicification as quartz veins and sericite was associated with sulphide mineralization including disseminated pyrrhotite, pyrite, and fine felted arsenopyrite with local visible gold. Variolitic mafic flows with pervasive biotite alteration were intersected between 1,960.00 and 2,188.00 metres.

A zone of carbonate followed by silicification and brecciation between 2,188.00 and 2,196.40 metres is similar in appearance to zones seen in the area of the �Upper Main Zone� located to the northeast within the BCD.

Below this to a final depth of 2,409.90 metres, biotite altered mafic volcanics with intercalations of chert-magnetite iron formation were noted. Gold mineralization occurs within sheared and brecciated zones associated with quartz veining and disseminated pyrrhotite and arsenopyrite mineralization within the iron formations.

This drill hole was oriented more steeply than the previous mother holes to allow for more optimum flattening of the ensuing wedge holes. Mineralized zones encountered at depth within iron formations are similar in style to those in the hanging wall sequences in the BC 19 and BC 21 series of holes. Compilation incorporating the information from this round of drilling in conjunction with the BC 19 and 21 Series allows for the extension of the Bruce Channel Discovery by approximately 80 metres horizontally along its northeast-southwest axis and by approximately 350 metres vertically. Additional wedge holes are currently in progress.

BC 30-2
BC 30-2 was wedged off the mother hole at a depth of 1,494.50 metres and oriented to direct the hole to the north of, and shallower than, the trace of BC 30-1. The hole was drilled to a final depth of 1,990.00 metres.

A quartz diorite of the McKenzie Island Stock was intersected from the wedge to a depth of 1,506.55 metres. Meta-sediments of the Bruce Channel Assemblage followed to a depth of 1,673.00 metres, with lithologies comprising greywacke, siltstone and sandstone.

A granodiorite at 1,673.00 to 1,748.50 metres marked the transition into Balmer Assemblage rocks to the final hole depth. Gold mineralization in the granodiorite occurred in quartz veins hosting disseminated pyrrhotite, pyrite and chalcopyrite between 1,740.20 and 1,744.00 metres.

The Balmer Assemblage lithologies consisted of mafic volcanic and associated sedimentary rocks, with lesser felsic volcanics to 1,910.50 metres. Pervasive chloritic alteration overprinted by a zone of silicification and brecciation with disseminated pyrrhotite, pyrite, sphalerite, arsenopyrite and gold mineralization occurred between 1,796.50 to 1,802.50 metres.  Between 1,923.00 and the final depth of 1,990.00 metres the Balmer Assemblage comprised pervasively biotite altered mafic volcanic flows.

BC 30-3
BC 30-3 was wedged off the mother hole at a depth of 1,636.80 metres and directed upwards and north of the traces of BC 30-1 and BC 30-2. It was drilled to a final depth of 2,577.00 metres.

Greywacke of the Bruce Channel Assemblage was intersected to 1,677.30 metres. A granodiorite, followed to a depth of 1,741.40 metres. Quartz stringers with disseminated pyrrhotite and gold mineralization occurred between 1,729.00 to 1,730.00 metres.

Meta-sediments of the Bruce Channel Assemblage were intersected from 1,741.40 to 1,790.00 metres. Strong silicification between 1,789.20 and 1,794.80 marked the transition into meta-volcanic and meta-sedimentary rocks of the Balmer Assemblage. This silicified zone is associated with disseminated pyrrhotite, magnetite, arsenopyrite and gold mineralization.
The Balmer Assemblage comprises mafic volcanic and associated sedimentary rocks, with lesser felsic volcanics to a depth of 1,894.50 metres followed by biotite altered mafic flows to a depth of 2,031.65 metres. A sheared zone of carbonate overprinted by silica alteration at 2,031.65 to 2,046.00 metres host weakly disseminated pyrrhotite, pyrite and arsenopyrite, and is similar to the zone noted in BC 30-1 at 2,188.00 metres.

Between 2,046.00 and the final depth of 2,577.00 metres the hole intersected pervasively biotite altered mafic volcanics with intercalations of chert-magnetite iron formation.  Gold mineralization occurred in zones of shearing, fracturing and brecciation with quartz veins and disseminated pyrrhotite and arsenopyrite within the iron formations.

BC 30-3 was flatter than the mother hole, and traversed further across the Bruce Channel. The mineralized structures encountered in BC 30-3 are similar in style to mineralized structures noted at greater depth from the drill holes that have been directed from the mainland.

The BC 30 Series of drill holes are continuing and results will be reported as they become available.

BC 33 Series

The BC 33 Series of holes are collared on the mainland at the same location as the BC 31 and BC 19 Series but oriented in a more westerly direction than the BC 31 Series, and inclined less steeply to evaluate the open area between the BC 19 and BC 31 Series of drill holes.

BC 33-1 
BC 33-1, the mother hole for the BC 33 Series of holes was drilled from the collar to a final depth of 1,881.00 metres.

The drill hole intersected iron formation, meta-sedimentary and volcanic rocks of the Bruce Channel Assemblage to a depth of 783.50 metres. This was followed by a succession of mafic volcanics with subordinate ultramafic rocks of the Balmer Assemblage to a depth of 1,239.20 metres. At 1,239.20 to 1,281.18 metres the hole intersected carbonate zones associated with shearing. Disseminated magnetite and pyrrhotite was noted throughout this interval, however no significant assays were returned. From 1,281.18 to 1,677.05 metres the hole encountered mafic volcanic rocks which were variably altered to biotite and chlorite. Between 1,677.05 and 1,721.20 metres pervasively biotite and chlorite alerted mafic volcanics host local sheared and brecciated zones with associated silica and carbonate alteration containing disseminated pyrrhotite and arsenopyrite with fine disseminated gold. Below this, the hole remained in variably biotite altered mafic volcanics of the Balme r Assemblage to its final depth of 1,881.00 metres.

The BC 33 Series of drill holes are continuing and additional results will be reported as 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 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 metallic�s 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

Renmark Financial Communications Inc.
Maurice Dagenais : mdagenais@renmarkfinancial.com
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Media � Eva Jura : ejura@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com

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