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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES AND EXCHANGE
COMMISSION </FONT></P>

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<A NAME=A002></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Washington, D.C. 20549 </FONT></P>

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<A NAME=A003></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM 8-K </FONT></P>

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<A NAME=A004></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>CURRENT REPORT </U></FONT></P>

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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934 </FONT></P>

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<A NAME=A005></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of Report (Date of
Earliest Event) June 16, 2003 </FONT></P>

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<A NAME=A006></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Golden Eagle
International, Inc. </U><BR>(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;Colorado</FONT><HR WIDTH="35%" ALIGN="Center"></TD>
     <TD WIDTH=30% ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0-23726</FONT><HR WIDTH="35%" ALIGN="center"></TD>
     <TD WIDTH=32% ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>84-1116515</FONT><HR WIDTH="35%" ALIGN="Center"></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>No.)</FONT></TD></TR>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>12401 South 450
East, Building D1, Salt Lake City, Utah 84020 </U><BR>(Address of Principal
Executive Offices) (Zip Code) </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>(801) 619-9320 </U></FONT><BR><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(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>Not Applicable  </U></font><BR><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Former Name or Former
Address, If Changed Since Last Report.) </FONT></P>

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<A NAME=A014></A>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition or
Disposition of Asset. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May
30, 2003, Golden Eagle International, Inc., entered into a Letter of Intent for the
purchase of all right, title and interest in and to one mining concession in Bolivia known
as &#147;Buen Futuro&#148; (the &#147;concession&#148;). The concession consists of 1,000
hectares (2,471 acres) and is located 160 miles north of the city of Santa Cruz, Bolivia,
in the Department of Santa Cruz, Province of Ascension de Guarayos, and Township of
Ascension de Guarayos. The concession sits directly in the center of four mining
concessions owned by Golden Eagle (&#147;the Golden Eagle concessions&#148;) in the same
area totaling 125,000 acres. </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
parties to the Letter of Intent, in addition to the Company, are Cecilia Calla de Arraya
(&#147;Mrs. Calla de Arraya&#148;) and Michael H. Biste, Ph.D. (&#147;Dr. Biste&#148;).
Mrs. Calla de Arraya was the owner of 100% of all right, title and interest in the
concession, and sold, transferred and conveyed her title to Golden Eagle in the Letter of
Intent. Due diligence regarding the title of the concession was completed, and the Company
accepted that title, on June 16, 2003. Golden Eagle expects to complete the transaction
when the formal documents are notarized and accepted by the Superintendent of Mines of the
Department of Santa Cruz, Bolivia, which the Company projects will take place by July 10,
2003. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, Mrs. Calla de Arraya and Dr. Biste sold all data; information; intellectual
property; physical reports and studies; drilling and sampling results; cores, cuttings and
geo-chemical analyses; and geological maps and assessments, which resulted from
exploration work performed by, or under the direction of, Tanganika, A.V.V., Empresa
Minera Suruqui, S.R.L., or Dr. Biste, regarding the concession, or the Golden Eagle
concessions, as well as any additional concessions claimed by Golden Eagle within a
20-kilometer area of influence (&#147;area of influence&#148;) extending in every
direction from Golden Eagle&#146;s concessions. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mrs.
          Calla de Arraya sold the concession to Golden Eagle in exchange for a perpetual
          three percent (3%) net smelter return on any and all mineral production
          resulting from ore mined from the concession. Mrs. Calla de Arraya will also
          receive payments in cash and stock over a 27-month period following the
          execution of the definitive legal documents in Bolivia. The cash payment will
          total $250,000 and the payment in the Company&#146;s common stock, restricted
          pursuant to Regulation &#147;S&#148; and Rule 144, will have a total value of
          $175,000. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, Golden Eagle agreed to grant to Dr. Biste a perpetual one percent (1%) net
smelter return on any and all production of minerals from any new concession that Golden
Eagle claims in the area of influence resulting from Dr. Biste&#146;s recommendation based
on his geological expertise and experience in the area; as well as on any ore deposit, or
potential ore deposit, which is known to Dr. Biste, or shall become known to him as a
result of his further work, but which was not previously known to Golden Eagle, within any
of Golden Eagle&#146;s current concessions in the area. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden
Eagle also agreed with Mrs. Calla de Arraya and Dr. Biste to maintain an exploration
program that will replace mineral reserves as they are depleted through mining as long as
the potential for feasible mineral reserves continues on the ore deposits found within the
concession. At a minimum, Golden Eagle agrees to invest $1 million in exploration over the
three years following the date of execution of the formal legal documents in Bolivia. </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 also agreed to enter into mineral production on the concession within the 18
months following the execution of the formal legal documents in Bolivia, and to expend a
minimum of $2 million to initiate that production. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
described above, Golden Eagle&#146;s agreement requires it to spend up to $3 million on
the concession over the next 18 months to three years. Golden Eagle does not currently
have those funds available, and has no commitment at this time from any person or
institution to provide such financing. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden
Eagle also agreed to enter into a consulting contract with Dr. Biste for a five-year
period after the execution of the documents in Bolivia, with a compensation schedule of
$3,000 per month in cash and $2,000 per month in the common stock of the Company that has
been included in Golden Eagle&#146;s existing Form S-8 registration statement. </FONT></P>

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<A NAME=A016></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 7. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements, Pro-Forma Financial Information and Exhibits </FONT></H1>

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<A NAME=A017></A>

<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) Exhibits </FONT></P>

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<TR VALIGN="BOTTOM">
     <TD ALIGN="center" WIDTH="65%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Exhibit Number</B>
</FONT></TD>
     <TD ALIGN="Left"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Description</B>
</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">1.0
</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><A HREF="actualletter_biste.htm">Letter of Intent dated May 30, 2003.</A>
</FONT></TD></TR>
</TABLE>


<BR><BR><BR><BR><BR>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURE </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 has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>



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<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. (Registrant)</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<BR><BR> Date: June 25, 2003</FONT></TD>
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[{"type": "8-K", "sequence": "1", "filename": "lettertobiste_8k.htm", "description": "LETTER OF INTENT TO BISTE MAY 30, 2003", "secsgml_size_bytes": 13046}]
{"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": "03758464"}, "business-address": {"street1": "12401 SOUTH 450 EAST", "street2": "BLDG D2 SUITE A", "city": "SALT LAKE CITY", "state": "UT", "zip": "84020", "phone": "8016199320"}, "mail-address": {"street1": "12401 SOUTH 450 EAST", "street2": "BLDG D2 SUITE A", "city": "SALT LAKE CITY", "state": "UT", "zip": "84020"}, "former-company": {"former-conformed-name": "BENEFICIAL CAPITAL FINANCIAL SERVICES CORP", "date-changed": "19940329"}}
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 (Date of
Earliest Event) June 16, 2003
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.)
12401 South 450
East, Building D1, Salt Lake City, Utah 84020
(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.)
Item 2.        Acquisition or
Disposition of Asset.
On May
30, 2003, Golden Eagle International, Inc., entered into a Letter of Intent for the
purchase of all right, title and interest in and to one mining concession in Bolivia known
as "Buen Futuro" (the "concession"). The concession consists of 1,000
hectares (2,471 acres) and is located 160 miles north of the city of Santa Cruz, Bolivia,
in the Department of Santa Cruz, Province of Ascension de Guarayos, and Township of
Ascension de Guarayos. The concession sits directly in the center of four mining
concessions owned by Golden Eagle ("the Golden Eagle concessions") in the same
area totaling 125,000 acres.
The
parties to the Letter of Intent, in addition to the Company, are Cecilia Calla de Arraya
("Mrs. Calla de Arraya") and Michael H. Biste, Ph.D. ("Dr. Biste").
Mrs. Calla de Arraya was the owner of 100% of all right, title and interest in the
concession, and sold, transferred and conveyed her title to Golden Eagle in the Letter of
Intent. Due diligence regarding the title of the concession was completed, and the Company
accepted that title, on June 16, 2003. Golden Eagle expects to complete the transaction
when the formal documents are notarized and accepted by the Superintendent of Mines of the
Department of Santa Cruz, Bolivia, which the Company projects will take place by July 10,
2003.
In
addition, Mrs. Calla de Arraya and Dr. Biste sold all data; information; intellectual
property; physical reports and studies; drilling and sampling results; cores, cuttings and
geo-chemical analyses; and geological maps and assessments, which resulted from
exploration work performed by, or under the direction of, Tanganika, A.V.V., Empresa
Minera Suruqui, S.R.L., or Dr. Biste, regarding the concession, or the Golden Eagle
concessions, as well as any additional concessions claimed by Golden Eagle within a
20-kilometer area of influence ("area of influence") extending in every
direction from Golden Eagle's concessions.
Mrs.
          Calla de Arraya sold the concession to Golden Eagle in exchange for a perpetual
          three percent (3%) net smelter return on any and all mineral production
          resulting from ore mined from the concession. Mrs. Calla de Arraya will also
          receive payments in cash and stock over a 27-month period following the
          execution of the definitive legal documents in Bolivia. The cash payment will
          total $250,000 and the payment in the Company's common stock, restricted
          pursuant to Regulation "S" and Rule 144, will have a total value of
          $175,000.
In
addition, Golden Eagle agreed to grant to Dr. Biste a perpetual one percent (1%) net
smelter return on any and all production of minerals from any new concession that Golden
Eagle claims in the area of influence resulting from Dr. Biste's recommendation based
on his geological expertise and experience in the area; as well as on any ore deposit, or
potential ore deposit, which is known to Dr. Biste, or shall become known to him as a
result of his further work, but which was not previously known to Golden Eagle, within any
of Golden Eagle's current concessions in the area.
Golden
Eagle also agreed with Mrs. Calla de Arraya and Dr. Biste to maintain an exploration
program that will replace mineral reserves as they are depleted through mining as long as
the potential for feasible mineral reserves continues on the ore deposits found within the
concession. At a minimum, Golden Eagle agrees to invest $1 million in exploration over the
three years following the date of execution of the formal legal documents in Bolivia.
The
Company also agreed to enter into mineral production on the concession within the 18
months following the execution of the formal legal documents in Bolivia, and to expend a
minimum of $2 million to initiate that production.
As
described above, Golden Eagle's agreement requires it to spend up to $3 million on
the concession over the next 18 months to three years. Golden Eagle does not currently
have those funds available, and has no commitment at this time from any person or
institution to provide such financing.
Golden
Eagle also agreed to enter into a consulting contract with Dr. Biste for a five-year
period after the execution of the documents in Bolivia, with a compensation schedule of
$3,000 per month in cash and $2,000 per month in the common stock of the Company that has
been included in Golden Eagle's existing Form S-8 registration statement.
Item 7.        Financial
Statements, Pro-Forma Financial Information and Exhibits
(c) Exhibits
Exhibit Number
Description
1.0
Letter of Intent dated May 30, 2003.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
Golden Eagle International, Inc. (Registrant)
By: /s/ Terry C. Turner
——————————————
Terry C. Turner
President and Chief Executive Officer
Date: June 25, 2003