SECURITIES AND EXCHANGE COMMISSION Washington, D.C. SECURITIES EXCHANGE ACT OF 1934 RELEASE NO. 34-40104 / June 19, 1998 The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of over the counter trading of the securities of Golden Eagle International, Inc. ( Golden Eagle ), of Denver, Colorado at 9:30 a.m. on June 22, 1998, and terminating at 11:59 p.m. on July 6, 1998. The Commission temporarily suspended trading in the securities of Golden Eagle because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the basis for Golden Eagle's claims of proven gold reserves on its Bolivian mineral concessions. On May 22, 1998, Golden Eagle, which purports to be in the business of developing and mining mineral property in Bolivia and is a defendant in a pending Commission lawsuit [SEC v. Golden Eagle International, Inc. et al., No 98-Z-1020 (D. Colo. May 7, 1998)], issued a press release stating that the company's independent geologist had determined that the proven gold reserves on the property exceeded six million ounces. The company also stated in the press release that indicated [and] inferred resources of gold on the property exceeded, respectively, 78 million and 157 million ounces. The Commission cautions broker dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company. Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to Golden Eagle's securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action. If any broker dealer or other person has any information which may relate to this matter, contact Daniel F. Shea, Regional Director, Central Regional Office, U.S. Securities and Exchange Commission, at (303) 844-1000. ======END OF PAGE 1======