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<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>Date of Report: December 24, 2008</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>
     <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=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>
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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 1 &#150;
Registrant&#146;s Business and Operations </FONT></H1>

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<A NAME=A016></A>
<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>&nbsp;&nbsp;&nbsp;&nbsp;a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          On December 24, 2008 we entered into a Secured Promissory Note (the
          &#147;Note&#148;) for $220,000 with Casco Credit (the &#147;Lender&#148;), a
          Belize corporation. The Note is payable in full, with interest at 12% per annum,
          on March 24, 2009. Interest in the event of default is set at 5% per month. The
          Lender charged a loan processing and origination fee of $20,000. We gave the
          Lender a security position in the Gold Bar mill located approximately 25 miles
          northwest of Eureka, Nevada. We cannot project with certainty that our current
          level of operations will provide sufficient funds to repay the Loan when due,
          and (as described below), we cannot offer any assurance that sufficient funds
          will be available to pay the Loan when it is due. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
received the funds from the Lender (a net of $200,000) on December 26, 2008, and used the
funds approximately as follows: </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
We used some of the proceeds from this Note to satisfy an existing Secured Promissory Note
in the face amount of $70,000, plus accrued interest, that was being secured by the Gold
Bar mill. The previous lender released its security position on the Gold Bar mill. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
We used additional amounts to pay $22,000 arrangement fee to Livstar (discussed in
paragraph (b), below), which amount Livstar reinvested in Golden Eagle by purchasing
27,500,000 shares of restricted common stock as discussed below (see Item 3.02). </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>We
used approximately $100,000 to pay certain other existing liabilities.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
In the Note we also agreed to use some of the proceeds of the loan to close an installment
purchase transaction that has been pending for some time for the acquisition of the
40-acre tract of land underlying the Gold Bar mill and record the Lender&#146;s security
interest in that real property as well, in an amount of $220,000, plus accrued interest. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
We retained the balance (approximately $30,000, including the $22,000 reinvested by
Livstar) for working capital. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
anticipate that the funds, together with our operating proceeds from our previously
announced agreement with Queenstake Resources, Inc. (see Part II, Item 5 of our Form 10-Q
for the quarter ended September 30, 2008), as well as a continuing deferral of certain
ongoing operating expenses will provide us sufficient working capital to permit continuing
operations through at most the first quarter of calendar year 2009. It is likely that we
will need additional funds in the near future if we expand our operations at the Jerritt
Canyon site, although these expenditures are intended to be covered by Queenstake and an
anticipated loan to be received from Queenstake. To the extent that we need any additional
funds to repay the Loan when due, for our U.S. operations or any operations that we may
conduct in Bolivia, we cannot provide any assurance that the additional funds will be
available on reasonable terms, if at all. Our financial statements have a &#147;going
concern&#148; statement, and we anticipate that this issue will continue until, if ever,
we are adequately financed or our revenues increase sufficiently to support our operations
and capital expenditures. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          On December 12, 2008 we entered into an Agreement (the &#147;Agreement&#148;)
          with Livstar Management Services, Inc. (&#147;Livstar&#148;) to arrange for an
          operating loan for us. Although we entered into this Agreement on December 12,
          2008, we did not incur any financial commitment and consequently the Agreement
          did not become material until December 26, 2008 when we received the funds from
          Casco as described above. The Agreement calls for an arrangement fee for Livstar
          in the amount of 10% of the face value of any loan that Livstar arranged for us
          which we paid to Livstar from the proceeds received from the Casco loan. </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
Agreement also committed Livstar, an accredited investor, to invest its arrangement fee in
the purchase of our common restricted shares so that we could have available to us the
entire loan, less the loan processing and origination fee charged by the Lender. Livstar
completed this investment on December 26, 2008 at $.0008 per share (50% of the closing
price of our common stock on the Over-the-Counter Bulletin Board (&#147;OTCBB&#148;) that
date) as described below in Item 3.02. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          On December 29, 2008 our board of directors voted to approve a Certificate of
          Designation of the Preferences and Rights of Series C Contingent Convertible
          Preferred Stock (&#147;Certificate of Designation&#148;). That Certificate of
          Designation (which is an amendment to our articles of incorporation) is attached
          as Exhibit to this Current Report. This act by our board designated one Series C
          contingent convertible preferred share out of our 10 million preferred shares
          authorized in our Articles of Incorporation. The Certificate of Designation made
          each share of Series C Contingent Convertible Preferred Stock (the &#147;Series
          C Preferred&#148;) convertible to 487,746,250 of our common shares. The
          conversion may only occur following the occurrence of a &#147;Conversion
          Event&#148; as defined in the Certificate of Designation. A Conversion Event
          will occur upon additional common shares being available after the authorization
          by our shareholders of an increase in our number of common shares or the
          reorganization of our common stock through a reverse split. Each share of Series
          C Preferred votes with the common stock, and is entitled to as many votes as the
          shares of common stock into which the Series C Preferred is convertible,
          assuming that a Conversion Event has occurred. The Series C Preferred is
          entitled to dividends and distributions upon liquidation as though it were fully
          converted to common stock. We will make a recommendation to our shareholders at
          our next shareholders&#146; meeting. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Currently,
we have two prior classes of preferred stock authorized: In March 2005, we authorized
3,500,000 shares of our Series A Convertible Preferred Stock, none of which are currently
issued or outstanding; and in December 2006 we authorized 4,500,000 shares of our Series B
Contingent Convertible Preferred Stock, of which there are currently 113,334 shares
currently issued and outstanding. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          On December 29, 2008 we received from Golden Eagle Mineral Holdings, Inc.
          (&#147;GEMH&#148;) the tender of, and our board of directors approved the
          receipt by us into treasury of, 487,746,250 shares of our common stock owned by
          GEMH in exchange for one share of our Series C contingent convertible preferred
          stock. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
exchange, together with the issuance of 27,500,000 shares to Livstar, results in the total
number of our issued and outstanding shares being 1,522,027,183 out of the total
authorized common stock of 2,000,000,000. </FONT></P>

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<A NAME=A017></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 2 &#151;
Financial Information </FONT></H1>

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<A NAME=A018></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.01 Completion of
Acquisition or Disposition of Assets</I> </FONT></P>

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<A NAME=A019></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A020></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.02 Results of
Operations and Financial Condition </I></FONT></P>

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<A NAME=A021></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A022></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.03 Creation of
a Direct Financial Obligation or an Obligation Under an Off-Balance SheetArrangement of a
Registrant</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;On
December 24, 2008, Golden Eagle entered into a secured promissory note, payable with
interest on or before March 24, 2009, in the total amount of $220,000, as described in
Item 1.01, above. </FONT></P>

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<A NAME=A023></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.04 Triggering
Events That Accelerate or Increase a Direct Financial Obligation or an ObligationUnder
and Off-Balance Sheet Arrangement</I> </FONT></P>

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<A NAME=A024></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None</FONT></P>

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<A NAME=A025></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.05 Costs
Associated with Exit or Disposal Activities</I> </FONT></P>

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<A NAME=A026></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None</I></FONT></P>

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<A NAME=A027></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.06 Material
Impairments </I></FONT></P>

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<A NAME=A028></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A029></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 3 &#151;
Securities Trading Markets </FONT></H1>




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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 3.01         Notice
of  Delisting  or Failure to Satisfy a Continued  Listing  Rule or  Standard;  Transfer of Listing</I></FONT></P>

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<A NAME=A031></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None</FONT></P>

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<A NAME=A032></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 3.02 Unregistered
Sales of Equity Securities </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;On
December 29, 2008 we issued one share of our Series C contingent convertible preferred
stock (&#147;Series C Preferred&#148;) to one accredited investor in exchange for its
surrender for cancellation of 487,746,250 shares of our common stock. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
December 26, 2008 one accredited investor purchased 27,500,000 shares of our common stock
for $22,000. </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
following sets forth the information required by Item 701 in connection with these
transactions: </FONT></P>




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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The transactions were completed
when:  </FONT></P>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
                    <TR VALIGN=TOP>
                    <TD WIDTH=10%><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=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    one accredited investor exchanged 487,746,250 shares of our common stock for one
                    restricted share of our Series C Preferred on December 29, 2008; </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
                    <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    one accredited investor purchased 27,500,000 shares of our restricted common
                    stock for $22,000 on December 26, 2008</FONT></TD> </TR>
                    </TABLE>
                    <BR>





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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There were no placement agents
or                     underwriters for the transactions.  </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The total offering price in each
                    transaction was:  </FONT></P>


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                    <TR VALIGN=TOP>
                    <TD WIDTH=10%><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=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    We did not receive any cash as a result of the exchange of the common stock for
                    the Series C Preferred described in transaction (a)(i) above. The consideration
                    received consisted of 487,746,250 shares of common stock which had a value (as
                    determined by our board of directors) at the time of the exchange of
                    $731,619.37; </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
                    <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    $22,000 cash was received in transaction (a)(ii) above.&nbsp; </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
underwriting discounts or commissions were paid. &nbsp; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We relied on the exemption from registration provided by Sections 4(2) and 4(6) under the
Securities Act of 1933 for this transaction, as well as Regulation D.&nbsp; We did not
engage in any public advertising or general solicitation in connection with this
transaction. We provided the accredited investors with disclosure of all aspects of our
business, including providing the accredited investors with our reports filed with the
Securities and Exchange Commission, our press releases, access to our auditors, and other
financial, business, and corporate information.&nbsp; Based on our investigation, we
believe that the accredited investors obtained all information regarding Golden Eagle
International, Inc. they requested, received answers to all questions they posed, and
otherwise understood the risks of accepting our securities for investment purposes. &nbsp;
(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our Series C Preferred is convertible for
common shares of our stock at the conversion ratio of 487,746,250 shares of common stock
for each share of Series C Preferred.&nbsp; We have no registration obligation with
respect to the share of Series C Preferred issued or with respect to the 27,500,000 shares
of restricted common stock described in (a)(ii), above. </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No cash was received as a result of the issuance of the Series C Preferred described in
(a)(i) above. We will use the proceeds received from the sale of the common stock
(described in (a)(ii), above) for general corporate purposes. </FONT></P>

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<A NAME=A033></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 3.03 Material
Modification to Rights of Security Holders</I> </FONT></P>

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<A NAME=A034></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None</FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<A NAME=A035></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 4 &#151; Matters
Related to Accountants and Financial Statements </FONT></H1>

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<A NAME=A036></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 4.01 Changes in
Registrant&#146;s Certifying Accountants</I> </FONT></P>

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<A NAME=A037></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None</FONT></P>

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<A NAME=A038></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item
4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or
Completed<BR>Interim Review</I></FONT></P>

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<A NAME=A039></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<A NAME=A040></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 5 &#151;
Corporate Governance and Management </FONT></H1>

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<A NAME=A041></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 5.01 Changes in
Control of Registrant</I> </FONT></P>

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<A NAME=A042></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None</FONT></P>

<!-- MARKER FORMAT-SHEET="Head Sub 3 Left-TNR" FSL="Workstation" -->
<A NAME=A043></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item
5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of
PrincipalOfficers</I></FONT></P>

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<A NAME=A044></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None</FONT></P>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<A NAME=A045></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 5.03 Amendments to
Articles of Incorporation or Bylaws; Change in Fiscal Year</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;The
Company amended its articles of incorporation on December 29, 2008, by filing its
Certificate of Designation of the Preferences and Rights of Series C Contingent
Convertible Preferred Stock. This is further described in Item 1.01, above. </FONT></P>

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<A NAME=A046></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 5.04 Temporary
Suspension of Trading Under Registrant&#146;s Employee Benefit Plans </I></FONT></P>

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<A NAME=A047></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None</FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 5.05 </I> <I>Amendments to
the Registrant&#146;s Code of Ethics, or Waiver of a Provision of the Code of Ethics.</I> </FONT></P>

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<A NAME=A048></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None</FONT></P>

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<A NAME=A049></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 6 &#151;
[Reserved] </FONT></H1>

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<A NAME=A050></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 7 &#151; Regulation
FD </FONT></H1>

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<A NAME=A051></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 7.01 Regulation FD
Disclosure</I> </FONT></P>

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<A NAME=A052></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<A NAME=A053></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 8 &#151; Other
Events </FONT></H1>

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<A NAME=A054></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 8.01 Other Events</I> </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Sub 2 Left-TNR" FSL="Workstation" -->
<A NAME=A055></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<A NAME=A056></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 9 &#151;
Financial Statements and Exhibits </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<A NAME=A057></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 9.01 Financial
Statements and Exhibits</I> </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.1(i)         <A HREF="ge_8kdec3008seriesc.htm"> Certificate
of Designation of the Preferences and Rights of Series C Contingent           Convertible
Preferred Stock.</A>  </FONT></P>

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<A NAME=A058></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1 Secured Promissory
Note with Casco Credit</FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.2 Agreement with
Livstar Management Services, Inc. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.3 Livstar Management
Services, Inc. Subscription Agreement  </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.4     Common Stock
Tender Letter from Golden Eagle Mineral Holding, Inc.</FONT></P>


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<A NAME=A059></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
30th day of December, 2008. </FONT></P>






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<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<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>
</TABLE>
<BR>



</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "ge_8kdec3008.htm", "secsgml_size_bytes": 34795}]
{"company-data": {"conformed-name": "GOLDEN EAGLE INTERNATIONAL INC", "cik": "0000869531", "assigned-sic": "1000", "irs-number": "841116515", "state-of-incorporation": "CO", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23726", "film-number": "081276509"}, "business-address": {"street1": "9661 SOUTH 700 EAST", "city": "SALT LAKE CITY", "state": "UT", "zip": "84070", "phone": "8016199320"}, "mail-address": {"street1": "9661 SOUTH 700 EAST", "city": "SALT LAKE CITY", "state": "UT", "zip": "84070"}, "former-company": {"former-conformed-name": "BENEFICIAL CAPITAL FINANCIAL SERVICES CORP", "date-changed": "19940329"}}
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: December 24, 2008
Golden Eagle
International, Inc.
(Exact Name of Registrant as
Specified in its Charter)
Colorado
0-23726
84-1116515
(State or Other
(Commission
(I.R.S. Employer
Jurisdiction of
File Number)
Identification
Incorporation)
No.)
9661 South 700 East, Salt Lake City, Utah 84070
(Address of Principal
Executive Offices) (Zip Code)
(801) 619-9320
(Registrant's
Telephone Number, Including Area Code)
Not applicable
(Former Name or Former
Address, If Changed Since Last Report.)
Section 1 –
Registrant's Business and Operations
Item 1.01 Entry into a
Material Definitive Agreement
a.       
          On December 24, 2008 we entered into a Secured Promissory Note (the
          "Note") for $220,000 with Casco Credit (the "Lender"), a
          Belize corporation. The Note is payable in full, with interest at 12% per annum,
          on March 24, 2009. Interest in the event of default is set at 5% per month. The
          Lender charged a loan processing and origination fee of $20,000. We gave the
          Lender a security position in the Gold Bar mill located approximately 25 miles
          northwest of Eureka, Nevada. We cannot project with certainty that our current
          level of operations will provide sufficient funds to repay the Loan when due,
          and (as described below), we cannot offer any assurance that sufficient funds
          will be available to pay the Loan when it is due.
We
received the funds from the Lender (a net of $200,000) on December 26, 2008, and used the
funds approximately as follows:
o
We used some of the proceeds from this Note to satisfy an existing Secured Promissory Note
in the face amount of $70,000, plus accrued interest, that was being secured by the Gold
Bar mill. The previous lender released its security position on the Gold Bar mill.
o
We used additional amounts to pay $22,000 arrangement fee to Livstar (discussed in
paragraph (b), below), which amount Livstar reinvested in Golden Eagle by purchasing
27,500,000 shares of restricted common stock as discussed below (see Item 3.02).
o
We
used approximately $100,000 to pay certain other existing liabilities.
o
In the Note we also agreed to use some of the proceeds of the loan to close an installment
purchase transaction that has been pending for some time for the acquisition of the
40-acre tract of land underlying the Gold Bar mill and record the Lender's security
interest in that real property as well, in an amount of $220,000, plus accrued interest.
o
We retained the balance (approximately $30,000, including the $22,000 reinvested by
Livstar) for working capital.
We
anticipate that the funds, together with our operating proceeds from our previously
announced agreement with Queenstake Resources, Inc. (see Part II, Item 5 of our Form 10-Q
for the quarter ended September 30, 2008), as well as a continuing deferral of certain
ongoing operating expenses will provide us sufficient working capital to permit continuing
operations through at most the first quarter of calendar year 2009. It is likely that we
will need additional funds in the near future if we expand our operations at the Jerritt
Canyon site, although these expenditures are intended to be covered by Queenstake and an
anticipated loan to be received from Queenstake. To the extent that we need any additional
funds to repay the Loan when due, for our U.S. operations or any operations that we may
conduct in Bolivia, we cannot provide any assurance that the additional funds will be
available on reasonable terms, if at all. Our financial statements have a "going
concern" statement, and we anticipate that this issue will continue until, if ever,
we are adequately financed or our revenues increase sufficiently to support our operations
and capital expenditures.
b.       
          On December 12, 2008 we entered into an Agreement (the "Agreement")
          with Livstar Management Services, Inc. ("Livstar") to arrange for an
          operating loan for us. Although we entered into this Agreement on December 12,
          2008, we did not incur any financial commitment and consequently the Agreement
          did not become material until December 26, 2008 when we received the funds from
          Casco as described above. The Agreement calls for an arrangement fee for Livstar
          in the amount of 10% of the face value of any loan that Livstar arranged for us
          which we paid to Livstar from the proceeds received from the Casco loan.
The
Agreement also committed Livstar, an accredited investor, to invest its arrangement fee in
the purchase of our common restricted shares so that we could have available to us the
entire loan, less the loan processing and origination fee charged by the Lender. Livstar
completed this investment on December 26, 2008 at $.0008 per share (50% of the closing
price of our common stock on the Over-the-Counter Bulletin Board ("OTCBB") that
date) as described below in Item 3.02.
c.       
          On December 29, 2008 our board of directors voted to approve a Certificate of
          Designation of the Preferences and Rights of Series C Contingent Convertible
          Preferred Stock ("Certificate of Designation"). That Certificate of
          Designation (which is an amendment to our articles of incorporation) is attached
          as Exhibit to this Current Report. This act by our board designated one Series C
          contingent convertible preferred share out of our 10 million preferred shares
          authorized in our Articles of Incorporation. The Certificate of Designation made
          each share of Series C Contingent Convertible Preferred Stock (the "Series
          C Preferred") convertible to 487,746,250 of our common shares. The
          conversion may only occur following the occurrence of a "Conversion
          Event" as defined in the Certificate of Designation. A Conversion Event
          will occur upon additional common shares being available after the authorization
          by our shareholders of an increase in our number of common shares or the
          reorganization of our common stock through a reverse split. Each share of Series
          C Preferred votes with the common stock, and is entitled to as many votes as the
          shares of common stock into which the Series C Preferred is convertible,
          assuming that a Conversion Event has occurred. The Series C Preferred is
          entitled to dividends and distributions upon liquidation as though it were fully
          converted to common stock. We will make a recommendation to our shareholders at
          our next shareholders' meeting.
Currently,
we have two prior classes of preferred stock authorized: In March 2005, we authorized
3,500,000 shares of our Series A Convertible Preferred Stock, none of which are currently
issued or outstanding; and in December 2006 we authorized 4,500,000 shares of our Series B
Contingent Convertible Preferred Stock, of which there are currently 113,334 shares
currently issued and outstanding.
d.       
          On December 29, 2008 we received from Golden Eagle Mineral Holdings, Inc.
          ("GEMH") the tender of, and our board of directors approved the
          receipt by us into treasury of, 487,746,250 shares of our common stock owned by
          GEMH in exchange for one share of our Series C contingent convertible preferred
          stock.
This
exchange, together with the issuance of 27,500,000 shares to Livstar, results in the total
number of our issued and outstanding shares being 1,522,027,183 out of the total
authorized common stock of 2,000,000,000.
Section 2 —
Financial Information
Item 2.01 Completion of
Acquisition or Disposition of Assets
None.
Item 2.02 Results of
Operations and Financial Condition
None.
Item 2.03 Creation of
a Direct Financial Obligation or an Obligation Under an Off-Balance SheetArrangement of a
Registrant
On
December 24, 2008, Golden Eagle entered into a secured promissory note, payable with
interest on or before March 24, 2009, in the total amount of $220,000, as described in
Item 1.01, above.
Item 2.04 Triggering
Events That Accelerate or Increase a Direct Financial Obligation or an ObligationUnder
and Off-Balance Sheet Arrangement
None
Item 2.05 Costs
Associated with Exit or Disposal Activities
None
Item 2.06 Material
Impairments
None.
Section 3 —
Securities Trading Markets
Item 3.01         Notice
of  Delisting  or Failure to Satisfy a Continued  Listing  Rule or  Standard;  Transfer of Listing
None
Item 3.02 Unregistered
Sales of Equity Securities
On
December 29, 2008 we issued one share of our Series C contingent convertible preferred
stock ("Series C Preferred") to one accredited investor in exchange for its
surrender for cancellation of 487,746,250 shares of our common stock.
On
December 26, 2008 one accredited investor purchased 27,500,000 shares of our common stock
for $22,000.
The
following sets forth the information required by Item 701 in connection with these
transactions:
(a)        The transactions were completed
when:
(i)
one accredited investor exchanged 487,746,250 shares of our common stock for one
                    restricted share of our Series C Preferred on December 29, 2008;
(ii)
one accredited investor purchased 27,500,000 shares of our restricted common
                    stock for $22,000 on December 26, 2008
(b)        There were no placement agents
or                     underwriters for the transactions.
(c)        The total offering price in each
                    transaction was:
(i)
We did not receive any cash as a result of the exchange of the common stock for
                    the Series C Preferred described in transaction (a)(i) above. The consideration
                    received consisted of 487,746,250 shares of common stock which had a value (as
                    determined by our board of directors) at the time of the exchange of
                    $731,619.37;
(ii)
$22,000 cash was received in transaction (a)(ii) above.
No
underwriting discounts or commissions were paid.
(d)       
We relied on the exemption from registration provided by Sections 4(2) and 4(6) under the
Securities Act of 1933 for this transaction, as well as Regulation D.  We did not
engage in any public advertising or general solicitation in connection with this
transaction. We provided the accredited investors with disclosure of all aspects of our
business, including providing the accredited investors with our reports filed with the
Securities and Exchange Commission, our press releases, access to our auditors, and other
financial, business, and corporate information.  Based on our investigation, we
believe that the accredited investors obtained all information regarding Golden Eagle
International, Inc. they requested, received answers to all questions they posed, and
otherwise understood the risks of accepting our securities for investment purposes.  
(e)        Our Series C Preferred is convertible for
common shares of our stock at the conversion ratio of 487,746,250 shares of common stock
for each share of Series C Preferred.  We have no registration obligation with
respect to the share of Series C Preferred issued or with respect to the 27,500,000 shares
of restricted common stock described in (a)(ii), above.
(f)        
No cash was received as a result of the issuance of the Series C Preferred described in
(a)(i) above. We will use the proceeds received from the sale of the common stock
(described in (a)(ii), above) for general corporate purposes.
Item 3.03 Material
Modification to Rights of Security Holders
None
Section 4 — Matters
Related to Accountants and Financial Statements
Item 4.01 Changes in
Registrant's Certifying Accountants
None
Item
4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or
Completed
Interim Review
None.
Section 5 —
Corporate Governance and Management
Item 5.01 Changes in
Control of Registrant
None
Item
5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of
PrincipalOfficers
None
Item 5.03 Amendments to
Articles of Incorporation or Bylaws; Change in Fiscal Year
The
Company amended its articles of incorporation on December 29, 2008, by filing its
Certificate of Designation of the Preferences and Rights of Series C Contingent
Convertible Preferred Stock. This is further described in Item 1.01, above.
Item 5.04 Temporary
Suspension of Trading Under Registrant's Employee Benefit Plans
None
Item 5.05
Amendments to
the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics.
None
Section 6 —
[Reserved]
Section 7 — Regulation
FD
Item 7.01 Regulation FD
Disclosure
None.
Section 8 — Other
Events
Item 8.01 Other Events
None.
Section 9 —
Financial Statements and Exhibits
Item 9.01 Financial
Statements and Exhibits
3.1(i)
Certificate
of Designation of the Preferences and Rights of Series C Contingent           Convertible
Preferred Stock.
10.1 Secured Promissory
Note with Casco Credit
10.2 Agreement with
Livstar Management Services, Inc.
10.3 Livstar Management
Services, Inc. Subscription Agreement
10.4     Common Stock
Tender Letter from Golden Eagle Mineral Holding, Inc.
SIGNATURES
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
30th day of December, 2008.
Golden Eagle
International, Inc.
By: /s/ Terry C. Turner
——————————————
Terry C. Turner
President and Chief Executive Officer