<SUBMISSION>
<ACCESSION-NUMBER>0000869531-06-000002
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20060103
<ITEMS>1.01
<ITEMS>8.01
<ITEMS>9.01
<FILING-DATE>20060103
<DATE-OF-FILING-DATE-CHANGE>20060103
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>GOLDEN EAGLE INTERNATIONAL INC
<CIK>0000869531
<ASSIGNED-SIC>1000
<IRS-NUMBER>841116515
<STATE-OF-INCORPORATION>CO
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-23726
<FILM-NUMBER>06500147
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>12401 SOUTH 450 EAST
<STREET2>BLDG D1
<CITY>SALT LAKE CITY
<STATE>UT
<ZIP>84020
<PHONE>8016199320
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>12401 SOUTH 450 EAST
<STREET2>BLDG D1
<CITY>SALT LAKE CITY
<STATE>UT
<ZIP>84020
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>BENEFICIAL CAPITAL FINANCIAL SERVICES CORP
<DATE-CHANGED>19940329
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ge_8kjan0306.htm
<TEXT>


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<A NAME=A001></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>UNITED STATES<BR>SECURITIES AND EXCHANGE
COMMISSION <BR><U>Washington, D.C. 20549 </U></B></FONT></P>

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<A NAME=A003></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>FORM 8-K</B> </FONT></P>

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<A NAME=A004></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>CURRENT REPORT

<BR>Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</B> </FONT></P>

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<A NAME=A005></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> <B>January 3, 2006<BR>Date of Report: (Date of earliest reported event)</B></FONT></P>

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<A NAME=A006></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Golden Eagle
International, Inc.</B>  </FONT></P>

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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Exact Name of Registrant as
Specified in its Charter) </FONT></P>


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     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=38% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;<U><B>Colorado</B></U></FONT></TD>
     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U><B>0-23726</B></U></FONT></TD>
     <TD WIDTH=32% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U><B>84-1116515</B></U></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(State or Other</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Commission</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(I.R.S. Employer</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jurisdiction of</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>File Number)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Identification</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;Incorporation)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>No.)</FONT></TD></TR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U><B>9661 South 700 East, Salt Lake City, Utah 84070</B> </U><BR>(Address of Principal
Executive Offices) (Zip Code) </FONT></P>

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<A NAME=A010></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U><B>(801) 619-9320</B> </U><BR>(Registrant&#146;s
Telephone Number, Including Area Code) </FONT></P>

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<A NAME=A012></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U><B>Not applicable</B></U>  <BR>(Former Name or Former
Address, If Changed Since Last Report.) </FONT></P>
<BR><BR><BR>
<HR>
<BR>
<BR><BR>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 1.01 Entry into a
Material Definitive Agreement</I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Joint-Venture Agreement with
Carlos Adriazola and Sabrina Jordan, husband and wife, for the Exploration and Development of the
Rio Mojos Gold Mining Project.</I> </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On January 3, 2006, Golden Eagle
International, Inc. a Colorado corporation (hereinafter referred to as &#147;we&#148;,
&#147;us&#148; or &#147;our&#148;), through its wholly-owned subsidiary, Golden Eagle
International, Inc. (Bolivia) (hereinafter referred to as &#147;GEII Bolivia&#148;)
entered into a Joint-Venture Agreement (the &#147;Agreement&#148;) with Carlos Adriazola
and Sabrina Jordan, husband and wife, (hereinafter referred to as &#147;the Adriazolas&#148;),
Bolivian nationals, for the exploration and development of the Rio Mojos gold mining
project in Bolivia. The Rio Mojos project is located 250 miles north of La Paz, Bolivia,
and covers 7,163 acres that extend along a 25-mile section of the Mojos River. The general
terms of the Agreement include the following: </FONT></P>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>a. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Agreement forms a joint-venture for 20 years (renewable for another 20 years
               at the discretion of GEII Bolivia) between GEII Bolivia and the Adriazolas,
               which will have its own identity and tax number, for the exploration and
               development of four mining concessions owned by the Adriazolas that extend for
               approximately 25 kilometers along the Mojos River in the Department (State) of
               La Paz. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>b. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               GEII Bolivia will own 94% of the joint-venture and the Adriazolas 6%. The
               Adriazolas participation in the production of the joint-venture will be through
               a net smelter return (&#147;NSR&#148;) of 6%. The NSR is established based on
               the following definition: &#147;The invoiced price on the day of the sale of the
               products (minerals), less the cost of refining, commercialization, transport,
               port expenses, shipping, insurance, royalties, taxes and penalties when
               applicable.&#148; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>c. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               GEII Bolivia will have one year from April 2006 (until April 2007) in which to
               invest $500,000 in the exploration of the subject mining concessions and the
               production of a feasibility study. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>d. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Within 15 days of the expiration of the year of exploration and feasibility
               work, or the presentation of the feasibility study to the Adriazolas, GEII
               Bolivia must inform the Adriazolas if, based on its feasibility study, it
               intends to continue to the next phase, which would be production, and on what
               schedule in accordance with the recommendations resulting from the feasibility
               study. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>e. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The parties will have 30 days from the Notice of Intent to Enter into Production
               in which to elaborate an acceptable Mining Plan based on the feasibility study. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>f. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Adriazolas only contribution to the joint-venture is the right for the
               joint-venture to explore and develop the subject mining concessions. GEII
               Bolivia will be responsible for all other investments and capital contributions. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>g. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Distributions to the Adriazolas of the NSR will be made on a quarterly basis
               within 30 days of the end of each quarter. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>h. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               GEII Bolivia will be responsible for the administration and operation of the
               joint-venture with the exception of the composition of the board of directors of
               the joint venture. The Adriazolas will be entitled to name one director out of
               three to the joint-venture board of directors. The board&#146;s decisions will
               be taken by a majority vote. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>i. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Adriazolas will be entitled to have a representative present on-site who may
               circulate freely within the exploration workings or the mine and recovery plant,
               and who will be entitled to be notified of, and present for, all clean-ups when
               the recovered minerals, principally gold, are removed from the recovery
               equipment. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>j. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               GEII Bolivia is required to pay all annual mining concession patents (claims
               fees) during the term of the Agreement beginning with the patents for 2006,
               which are due in January of 2007, and to ensure that all environmental laws and
               permitting requirements are met. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>k. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The joint-venture will be audited on an annual basis. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>l. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               All disputes will be settled in arbitration before a panel of three arbitrators
               chosen from a list provided by the Bolivian National Chamber of Commerce. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>m. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Agreement will be subject to, and suspended by, force majeure, impossibility
               and third-party interference. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 8.01 Other Events.</I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On January 3, 2006 we issued a press
release regarding the Joint-Venture Agreement for the exploration and development of the
Rio Mojos gold project. A copy of the press release is attached hereto as Exhibit 99.1 and
is incorporated herein by reference. &nbsp; </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Statements and Exhibits </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 9.01 Financial
Statements and Exhibits</I> </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>99.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="ge_pr-jan0306.htm">Press release dated
January 3, 2006</A>. </FONT></P>

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<A NAME=A007></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant caused this
report to be signed on its behalf by the undersigned, thereunto duly authorized, on the
3<SUP>rd</SUP> day of January, 2006. </FONT></P>

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<A NAME=A008></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT></P>


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<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Golden Eagle International, Inc.</B><BR><BR>
<BR>By: /s/ Terry C. Turner<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Terry C. Turner<BR>President and Chief Executive Officer</FONT>

</TD>
</TR>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ge_pr-jan0306.htm
<TEXT>
<HTML>
<HEAD>
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</HEAD>
<BODY>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH></TR>

<TR VALIGN=Bottom>
     <TD WIDTH=33% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>9661 South 700 East</FONT></TD>
     <TD WIDTH=33% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Avenida Arce y Montevideo</FONT></TD>
     <TD WIDTH=33% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Jaimes Freire, 4 Norte</FONT></TD></TR>

<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Salt Lake City, Utah 84070</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Edificio Montevideo, Piso 4, Of. 1</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Calle Las Jardineras #16</FONT></TD></TR>

<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>USA</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>La Paz, Bolivia</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Santa Cruz de la Sierra, Bolivia</FONT></TD></TR>

<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(801) 619-9320 Office</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(591-2) 244-4140 Oficina</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(591-3)312-1148 Oficina</FONT></TD></TR>

<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(801) 619-1747 Fax</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(591-2) 215-5533 Fax</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(591-3)312-1149 Fax</FONT></TD></TR>

<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>info@geii.com</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>info@geii.com</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=1>info@geii.com</FONT></TD></TR>
</TABLE>
<A NAME=A001></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>FOR IMMEDIATE RELEASE </U></FONT></H1>

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<A NAME=A002></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Golden Eagle Signs
Joint-Venture for the Development <BR>of the Rio Mojos Gold
Project in Bolivia </FONT></H1>

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<A NAME=A003></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></H1>

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<A NAME=A004></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Company Lauds
Democratic Process in Recent Elections</I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SALT
LAKE CITY, UTAH&#151;(BusinessWire) &#151; January 3, 2005 &#151; <B>Golden Eagle
International, Inc. (<I>MYNG</I>, OTCBB) </B>announced today that it has signed
a joint-venture contract for the development of the Rio Mojos gold project 250 miles north
of La Paz, Bolivia. The Company will own 94% of the joint-venture project, while the
landowner will own the other 6%, which will entitle him to a 6% net smelter return on
minerals recovered. The Rio Mojos gold project will become the third major Golden Eagle
project in Bolivia, building on the Company&#146;s relationships and knowledge base in the
country. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Rio Mojos gold project area covers 7,163 acres along a 25-mile section of the Mojos River.
Based on existing geological studies, three distinct types of mineralization occur within
the project area: gold bearing alluvial gravels in the current river channel, beaches and
terraces; gold bearing cemented conglomerates in ancient terraces formed above the current
river system; and, primary quartz and pyrite gold deposits at the headwaters of the Mojos
River. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;We
have been impressed by our review of the existing geological studies of the Rio Mojos gold
project,&#148; stated Terry C. Turner, Golden Eagle&#146;s CEO. &#147;This is an area that
we have watched for years, but access was always an issue. Now, however, because an
all-weather road has been completed to within 20 miles of the project area we knew that it
was the time to secure the rights to explore and mine.&#148; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comparing
the new project area to the Tipuani Gold District in which Golden Eagle has operated its
Cangalli Gold Mine, Turner stated, &#147;The Mojos River has many of the same
characteristics when compared to the Tipuani River located only 70 miles to the south. The
Tipuani River produced 32 million ounces of gold during its known history; however, the
Mojos River area is relatively virgin because it was previously inaccessible. In moving
forward with the Rio Mojos project we also considered our ability to use our heavy
earthmoving equipment and recovery plant from our Cangalli project until we can bring that
project back on-line. We will still have sufficient component parts to build a second
recovery plant in Cangalli if, and when, the time comes.&#148; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Summarizing
Golden Eagle&#146;s present portfolio of projects in Bolivia, Terry Turner stated,
&#147;Our Buen Futuro gold and copper project in Eastern Bolivia will continue as our top
priority given its state of advancement. However, with our two other important gold
projects only 70 miles apart in Western Bolivia, we believe we can capitalize on the
available synergies there as well to the benefit of our shareholders.&#148; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Studies
carried out in the Rio Mojos project area include work by H.G. Freydanck in 1962 and 1963
on behalf of the Bolivian Geological Survey; St. George Mines in 1986; a consortium of
Canadian junior mining companies in the early 1990s; and Atlas Precious Metals, Inc. in
2004. Geophysics were performed and bulk sampling methods were used to test the deposit.
Sampling to date indicates the presence of gold in quantities that strongly suggest the
potential of commercial viability. In one study, pits were dug in the alluvial gravels of
the river bed to a depth of 16 feet in eight separate points. A total of 150 cubic meters
of sampled gravels produced 150 grams of gold through standard gravity recovery
techniques, for an average grade of 1 gram per cubic meter. The gold grade increased with
depth. That study&#146;s geologists estimated that there are approximately 200 million
cubic meters of alluvial river gravels in the project area. In addition, a grouping of
four channel samples in the consolidated conglomerate terraces of the Mojos River returned
an average of 39 grams of gold per cubic meter. Study geologists estimated that there are
approximately 30 million cubic meters of consolidated conglomerates in the deposit. It is
important to note that these samplings and estimates do not meet the requirements for
estimating proven or probable reserves, and there is no assurance by any means that any
operation in the project area will be commercially viable. Golden Eagle intends to begin
its feasibility work once the Bolivian rainy season is over in April of 2006 and base its
open pit mine and operational plan on the resulting study. During the initial phase of the
joint-venture, Golden Eagle must invest $500,000 in exploration and the production of a
full feasibility study by April of 2007. The Company is currently considering several debt
financing options to fund its exploration commitment. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
other news important to Golden Eagle, on December 18, 2005, Evo Morales was elected as
Bolivia&#146;s new president and will be inaugurated on January 22, 2006. Representatives
of Mr. Morales&#146; transition team have already assured the mining sector in general,
and the Company specifically, that Mr. Morales intends to give an extremely high priority
to providing the mining sector with a stable working environment and legal framework to
allow it to increase mining production and employment in the future. Golden Eagle intends
to work vigorously with the new administration to resolve pending issues at its Cangalli
gold mine and to finalize permitting on its Buen Futuro gold and copper project in
Bolivia&#146;s Precambrian Shield. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eagle
E-mail Alerts: If you are interested in receiving Eagle E-mail Alerts, please e-mail the
company at: eaglealert@geii.com. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden
Eagle International, Inc. is a gold and copper exploration and mining company located in
Salt Lake City, Utah; and La Paz and Santa Cruz, Bolivia. The Company is currently
focusing its efforts on developing its mining rights on its Buen Futuro gold and copper
project within its 136,500 acres (213 square miles) in Eastern Bolivia&#146;s Precambrian
Shield, and beginning its final feasibility work on its Rio Mojos gold project in Western
Bolivia. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden
Eagle recommends that you review its disclosures, risk statements, previous press
releases, annual reports, quarterly reports and current reports found at its website:
<I><U>www.geii.com</U>.</I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Sabrina Martinez &#151; Investor
Relations: (801) 619-9320 </FONT></P>

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<A NAME=A005></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>CAUTIONARY NOTE
REGARDING FORWARD-LOOKING STATEMENTS AND RISKS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
statements in this press release are forward-looking statements and are based on an
assumed set of economic conditions and courses of action, including: (a) Golden
Eagle&#146;s ability to obtain the necessary financing on reasonable terms; (b) estimates
of mineral reserves and future production levels; (c) expectations regarding estimated
mine production costs, expected trends in mineral prices, and statements that describe
Golden Eagle&#146;s future plans, objectives or goals; and (d) other risk factors and
matters disclosed in Golden Eagle&#146;s Securities and Exchange Commission
(&#147;SEC&#148;) filings which may be accessed at <U>www.sec.gov</U>. There is a
significant risk that actual material results will vary from projected results depending
on such factors as changes in general economic conditions and financial markets, changes
in gold and copper prices, technological and operational hazards in Golden Eagle&#146;s
mining and mine development activities, uncertainties inherent in the calculation of
mineral reserves, mineral resources and metal recoveries, the timing and availability of
financing, governmental and other approvals and other risk factors listed from
time-to-time in Golden Eagle&#146;s Form 10-K and its other reports filed with the SEC.
The joint venture agreement and joint venture described above should not be construed by
any means as an indication of the present or future value of the Company or its common
stock. Additionally, the formation of the joint venture and our plans in conjunction with
the joint venture should not be construed by any means as an indication of whether we will
ever conduct successful mining operations in connection with the Rio Mojos mining project.
Golden Eagle disclaims any responsibility to update forward-looking statements made
herein. </FONT></P>

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