SECURITIES AND EXCHANGE COMMISSION
                                 Washington, DC




                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934




                         Date of Report: August 3, 1999




                        GOLDEN EAGLE INTERNATIONAL, INC.
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)




   Colorado                         0-23726                    84-1116515
   --------                         -------                    ----------
(State of other                   (Commission                 (IRS Employer
jurisdiction of                   File Number)              Identification No.)
incorporation)




          4949 South Syracuse Street, Suite 300, Denver, Colorado 80237
          -------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)




       Registrant's telephone number, including area code: (303) 694-6101


<PAGE>



Item 5.    Other Events

     Golden Eagle  International,  Inc.  ("Golden  Eagle" or the  "Company") has
received a new  metallurgical  report  relating to its  Cangalli,  Bolivia  gold
deposit from Ronald L Atwood, Ph.D., a metallurgical consultant and former chief
metallurgist  for Newmont Mining.  Dr. Atwood is also a member of Golden Eagle's
technical  advisory board.  Dr. Atwood  expressed his opinion in the report that
operating costs at the Cangalli site (including general and administrative costs
and an allocable  share of corporate  overhead)  will range from $31 to $123 per
ounce of gold produced, depending on the feed grade and tonnage being mined. Dr.
Atwood also expressed his opinion that the  difficulty  other  consultants  have
identified  in  recovering  fine gold in Cangalli  can be overcome  with certain
specified   technology  and  equipment.   Dr.   Atwood's   report,   "Report  of
Investigation on the Cangalli,  Bolivia Gold Deposit--Recovery of Fine Gold with
a Mine Plan and Economic Projections," is the result of his field work on Golden
Eagle's  Cangalli  site, as well as bench testing and laboratory  analysis.  Dr.
Atwood has visited and  investigated  the Cangalli  gold deposit  several  times
since March 1997.  His most recent  work was  performed  between  April and June
1999.

     Dr.  Atwood's  most  significant  findings  reported to Golden Eagle are in
three categories:

      Fine  gold  recoveries.   Other  consultants  have  raised  concerns  that
     traditional  mining and recovery methods used in the Cangalli area will not
     result in the recovery of a significant  amount of the "fine gold" known to
     be present in the deposit.  Dr. Atwood stated in his report,  "Based on the
     work performed, the gold recoveries in the Chaco area [of the Cangalli gold
     deposit]  can be  expected  to be in  excess  of 95%." He  further  stated,
     "Through enhanced  acceleration in the centrifugal  concentrator systems we
     have  demonstrated  that the  historical  fine gold losses  suffered in the
     Cangalli area can be resolved."

      Cost per ounce of gold produced.  Dr. Atwood  expressed his opinion in the
     report that  operating  costs at the Cangalli site  (including  general and
     administrative  costs and an allocable  share of corporate  overhead)  will
     range from $31 to $123 per ounce of gold  produced,  depending  of the feed
     grade and tonnage being mined.  (It should be noted that Dr.  Atwood's cost
     per ounce projections were not based on estimates of resources or reserves.
     Dr.  Atwood  based  his  projections  on  information  from  sampling  data
     collected   on  the   Cangalli   site  by  other   consulting   geologists,
     geophysicists and mining engineers.)

<PAGE>


      Recommendation regarding operations.  Dr. Atwood recommended in his report
     that    Golden    Eagle    consider    installing    a    400-ton-per-hour,
     8,800-ton-per-day,  mining  operation and recovery plant at the Chaco Playa
     site. He provided a mine plan and economic  projections for his recommended
     operation  based on various  scenarios.  His  estimated  cost for the plant
     construction,    mining   equipment   acquisition,    and   operating   and
     administrative  costs during the start-up phase was $3 million, but ramping
     up operations could begin with a smaller investment. Dr. Atwood stated that
     he  believes  that his  recommended  mine  plan  would be the best and most
     cost-effective  method for  creating  positive  cash flow for the  company,
     while also  gathering a  significant  amount of  information  regarding the
     Cangalli gold deposit.

     Regarding  Dr.   Atwood's  report  and   recommendations,   Golden  Eagle's
President, Terry C. Turner, commented, "On the heels of the Behre Dolbear report
confirming the nature of the Cangalli gold deposit, Dr. Atwood's report provides
Golden Eagle with a practical  framework for the future.  It is very exciting to
read Dr. Atwood's  opinion that we can solve our fine gold losses while creating
positive cash flow, and at the same time generate important, additional sampling
data from production."

     Golden Eagle is attempting  to raise the  financing  necessary to implement
certain of Dr. Atwood's recommendations.  This will take a significant amount of
investment,  however,  and at this time Golden Eagle does not have those sources
readily  available to it. In addition,  Golden Eagle  recognizes  the continuing
risks  inherent in its  operations  in Bolivia,  including  risks that there are
insufficient  gold resources for a profitable  operation;  significant,  current
working  capital  deficits;  and other risks  inherent  in  carrying  out mining
activities in Latin America.

     Golden  Eagle  International,  Inc.  is  a  Denver-based  gold  mining  and
exploration company. The Company is currently focusing its efforts on developing
its mining rights in Cangalli,  Bolivia. For more information about the Company,
call Sabrina  Martinez at (303) 694-6101 or Guy Murrel at (303) 581-7760.  Media
inquires should be directed to Richard Pinto at (212) 688-8599. Golden Eagle can
also be found at its website www.geii.com,  where management recommends that all
shareholders  and  prospective  shareholders  review its Annual  Reports on Form
10-KSB, Quarterly Reports on Form 10-QSB and Periodic Reports on Form 8-K.

     The future  conduct of Golden  Eagle's  business and its response to issues
raised by third parties are dependent upon a number of factors, and there can be
no  assurance  that  Golden  Eagle will be able to  conduct  its  operations  as
contemplated.  Certain  statements  contained  in this press  release and Golden
Eagle's  other  reports  using the terms  "may",  "expects  to," and other terms
denoting future possibilities,  are forward-looking  statements. The accuracy of
these statements  cannot be guaranteed as they are subject to a variety of risks
that are beyond Golden Eagle's ability to predict or control and which may cause
actual results to differ materially from the projections or estimates  contained
herein.  These risks include, but are not limited to, the risks described in the
above press release;  those risks set out in Golden Eagle's disclosure documents
and its annual,  quarterly and periodic reports;  and the other risks associated
with  start-up  mineral  exploration  operations  with  insufficient  liquidity,
negative  working  capital,  and  no  historical  profitability.   Golden  Eagle
disclaims any obligation to update any forward-looking statement made herein.


                                   SIGNATURES

     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 thereunto duly authorized.


Date:   August 3, 1999                 Golden Eagle International, Inc.



                                       By:  /s/  Terry c. Turner
                                            ------------------------------------
                                            Terry C. Turner, President
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SECURITIES AND EXCHANGE COMMISSION
                                 Washington, DC

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

                         Date of Report: August 3, 1999

                        GOLDEN EAGLE INTERNATIONAL, INC.
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)

   Colorado                         0-23726                    84-1116515
   --------                         -------                    ----------
(State of other                   (Commission                 (IRS Employer
jurisdiction of                   File Number)              Identification No.)
incorporation)

          4949 South Syracuse Street, Suite 300, Denver, Colorado 80237
          -------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (303) 694-6101
Item 5.    Other Events

     Golden Eagle  International,  Inc.  ("Golden  Eagle" or the  "Company") has
received a new  metallurgical  report  relating to its  Cangalli,  Bolivia  gold
deposit from Ronald L Atwood, Ph.D., a metallurgical consultant and former chief
metallurgist  for Newmont Mining.  Dr. Atwood is also a member of Golden Eagle's
technical  advisory board.  Dr. Atwood  expressed his opinion in the report that
operating costs at the Cangalli site (including general and administrative costs
and an allocable  share of corporate  overhead)  will range from $31 to $123 per
ounce of gold produced, depending on the feed grade and tonnage being mined. Dr.
Atwood also expressed his opinion that the  difficulty  other  consultants  have
identified  in  recovering  fine gold in Cangalli  can be overcome  with certain
specified   technology  and  equipment.   Dr.   Atwood's   report,   "Report  of
Investigation on the Cangalli,  Bolivia Gold Deposit--Recovery of Fine Gold with
a Mine Plan and Economic Projections," is the result of his field work on Golden
Eagle's  Cangalli  site, as well as bench testing and laboratory  analysis.  Dr.
Atwood has visited and  investigated  the Cangalli  gold deposit  several  times
since March 1997.  His most recent  work was  performed  between  April and June
1999.

     Dr.  Atwood's  most  significant  findings  reported to Golden Eagle are in
three categories:

      Fine  gold  recoveries.   Other  consultants  have  raised  concerns  that
     traditional  mining and recovery methods used in the Cangalli area will not
     result in the recovery of a significant  amount of the "fine gold" known to
     be present in the deposit.  Dr. Atwood stated in his report,  "Based on the
     work performed, the gold recoveries in the Chaco area [of the Cangalli gold
     deposit]  can be  expected  to be in  excess  of 95%." He  further  stated,
     "Through enhanced  acceleration in the centrifugal  concentrator systems we
     have  demonstrated  that the  historical  fine gold losses  suffered in the
     Cangalli area can be resolved."

      Cost per ounce of gold produced.  Dr. Atwood  expressed his opinion in the
     report that  operating  costs at the Cangalli site  (including  general and
     administrative  costs and an allocable  share of corporate  overhead)  will
     range from $31 to $123 per ounce of gold  produced,  depending  of the feed
     grade and tonnage being mined.  (It should be noted that Dr.  Atwood's cost
     per ounce projections were not based on estimates of resources or reserves.
     Dr.  Atwood  based  his  projections  on  information  from  sampling  data
     collected   on  the   Cangalli   site  by  other   consulting   geologists,
     geophysicists and mining engineers.)
Recommendation regarding operations.  Dr. Atwood recommended in his report
     that    Golden    Eagle    consider    installing    a    400-ton-per-hour,
     8,800-ton-per-day,  mining  operation and recovery plant at the Chaco Playa
     site. He provided a mine plan and economic  projections for his recommended
     operation  based on various  scenarios.  His  estimated  cost for the plant
     construction,    mining   equipment   acquisition,    and   operating   and
     administrative  costs during the start-up phase was $3 million, but ramping
     up operations could begin with a smaller investment. Dr. Atwood stated that
     he  believes  that his  recommended  mine  plan  would be the best and most
     cost-effective  method for  creating  positive  cash flow for the  company,
     while also  gathering a  significant  amount of  information  regarding the
     Cangalli gold deposit.

     Regarding  Dr.   Atwood's  report  and   recommendations,   Golden  Eagle's
President, Terry C. Turner, commented, "On the heels of the Behre Dolbear report
confirming the nature of the Cangalli gold deposit, Dr. Atwood's report provides
Golden Eagle with a practical  framework for the future.  It is very exciting to
read Dr. Atwood's  opinion that we can solve our fine gold losses while creating
positive cash flow, and at the same time generate important, additional sampling
data from production."

     Golden Eagle is attempting  to raise the  financing  necessary to implement
certain of Dr. Atwood's recommendations.  This will take a significant amount of
investment,  however,  and at this time Golden Eagle does not have those sources
readily  available to it. In addition,  Golden Eagle  recognizes  the continuing
risks  inherent in its  operations  in Bolivia,  including  risks that there are
insufficient  gold resources for a profitable  operation;  significant,  current
working  capital  deficits;  and other risks  inherent  in  carrying  out mining
activities in Latin America.

     Golden  Eagle  International,  Inc.  is  a  Denver-based  gold  mining  and
exploration company. The Company is currently focusing its efforts on developing
its mining rights in Cangalli,  Bolivia. For more information about the Company,
call Sabrina  Martinez at (303) 694-6101 or Guy Murrel at (303) 581-7760.  Media
inquires should be directed to Richard Pinto at (212) 688-8599. Golden Eagle can
also be found at its website www.geii.com,  where management recommends that all
shareholders  and  prospective  shareholders  review its Annual  Reports on Form
10-KSB, Quarterly Reports on Form 10-QSB and Periodic Reports on Form 8-K.

     The future  conduct of Golden  Eagle's  business and its response to issues
raised by third parties are dependent upon a number of factors, and there can be
no  assurance  that  Golden  Eagle will be able to  conduct  its  operations  as
contemplated.  Certain  statements  contained  in this press  release and Golden
Eagle's  other  reports  using the terms  "may",  "expects  to," and other terms
denoting future possibilities,  are forward-looking  statements. The accuracy of
these statements  cannot be guaranteed as they are subject to a variety of risks
that are beyond Golden Eagle's ability to predict or control and which may cause
actual results to differ materially from the projections or estimates  contained
herein.  These risks include, but are not limited to, the risks described in the
above press release;  those risks set out in Golden Eagle's disclosure documents
and its annual,  quarterly and periodic reports;  and the other risks associated
with  start-up  mineral  exploration  operations  with  insufficient  liquidity,
negative  working  capital,  and  no  historical  profitability.   Golden  Eagle
disclaims any obligation to update any forward-looking statement made herein.

                                   SIGNATURES

     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 thereunto duly authorized.

Date:   August 3, 1999                 Golden Eagle International, Inc.

                                       By:  /s/  Terry c. Turner
                                            ------------------------------------
                                            Terry C. Turner, President