SECURITIES AND EXCHANGE COMMISSION


          LITIGATION RELEASE NO. 16079 / March 8, 1999


          Golden Eagle International, Inc. Enjoined by Consent

          (Civil Action No.  98-Z-1020 (D. Colo.)

               The Securities and Exchange Commission announced that on
          March 4, 1999 the Honorable Zita L. Weinshienk, United States
          District Judge for the District of Colorado entered an order of
          permanent injunction against Golden Eagle International, Inc.
          ("Golden Eagle") The order, which was entered pursuant to the
          company's consent, in which in which it neither admitted nor
          denied the allegations of the complaint, prohibits the company
          from further violations of various provisions of the federal
          securities laws, including the anti-fraud, periodic filings, and
          books and records provisions.

               Specifically the company is prohibited from further
          violations of Section 17(a) of the Securities Act of 1933,
          Section 10(b) of the Securities Exchange Act of 1934 ("Exchange
          Act")and Rule 10b-5 thereunder, Section 13(b)(2)(B) of the
          Exchange Act, Section 13(a) of the Exchange Act and Rules 13a-1,
          13a-11, 13a-13, and 12b-20 thereunder.

               The complaint, which was filed in May 1998 charged that
          Golden Eagle had issued a series of false public statements,
          including false filings with the Commission concerning ownership
          of mineral properties and reserves on those properties. The
          complaint also charged that Golden Eagle had been delinquent in
          filing periodic reports with the Commission. In November 1998 the
          Commission amended its complaint alleging that Terry Turner,
          Golden Eagle's president had issued a false press release in May
          1998 that fraudulently claimed that Golden Eagle's Bolivian
          properties had substantial amounts of gold reserves.

               Litigation is continuing against the remaining defendants
          who include, Terry Turner, Ronald Knittle, Mary Erickson, Greg
          Vernon Timberline Consulting Inc. (See, Litigation Release No.
          15733, May 7, 1998; Litigation Release No. 15862, August 28,
          1998).