Attention Business Editors:

Gold Eagle Mines Ltd. announces closing of Cdn$80 million bought deal of common shares

     TSX: GEA
     TORONTO, April 24 /CNW/ - Gold Eagle Mines Ltd. (TSX: GEA) ("Gold Eagle"
or the "Company") announced today that it has closed its previously announced
public offering of 8,900,000 common shares ("Common Shares") of the Company at
a price of CDN$9.00 per Common Share ("the Offering Price") for gross proceeds
of CDN$80,100,000. The Common Shares were sold through a syndicate of
underwriters co-led by Orion Securities Inc. and Westwind Partners Inc. and
including, BMO Nesbitt Burns Inc., Dundee Securities Corporation and Genuity
Capital Markets.
     The Company has granted to the underwriters an option, exercisable in
whole or in part for a period of 30 days following the closing of the
offering, to purchase up to an additional 1,335,000 Common Shares at the
Offering Price.
     The net proceeds of the offering will be used for the continued
exploration of Gold Eagle's Bruce Channel Discovery, including a work program
to sink an exploration shaft to facilitate continued exploration of the
mineralized envelope.
     The securities offered have not been registered under the U.S. Securities
Act of 1933 (the "1933 Act"), as amended and may not be offered or sold in the
United States except pursuant to available exemptions from the registration
requirements of the 1933 Act and applicable blue-sky laws and as are agreed to
by the Company and the underwriters. This release does not constitute an offer
for sale of securities in the United States.
     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.
     Forward-Looking Statement
     This News Release contains forward-looking statements regarding the
proposed use of proceeds from the offering. Forward-looking statements may
involve a number of risks and uncertainties. Actual events or results could
differ materially from the Company's current 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.

For further information: Tel: (416) 867-8998, Fax: (416) 867-9393,
www.goldeaglemines.com