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Stock manipulation targeted

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Salt Lake-based Golden Eagle International Inc. said Tuesday it believes that it has been subject to manipulation by unknown parties of the price of its shares on the Over-the-Counter Bulletin Board in the form of illegal short selling.

Golden Eagle said it believes the actions have "created an artificial market response to Golden Eagle's positive progress regarding gold production trends at its Cangalli gold mine in western Bolivia and expansion efforts at its Buen Futuro gold/copper deposit in eastern Bolivia."

Terry C. Turner, chief executive officer, said increases in gold production at Cangalli and potential production growth of gold and copper at Buen Futuro "we believe ordinarily would have contributed to a significant increase in our share price."

The company has hired a law firm to delist Golden Eagle shares from the Berlin Stock Exchange, hired another firm to evaluate whether to join certain lawsuits and is requesting that its shareholders request that their shares be converted to paper certificates and either be physically sent to the shareholder or physically be held by the shareholder's stockbroker.