TSX: GEA
TORONTO, Sept. 16 /CNW/ - Gold Eagle Mines Ltd. ("Gold Eagle") (TSX:GEA).
-   Over 96% of Gold Eagle shareholders voting at the special meeting
    approve acquisition by Goldcorp
-   Gold Eagle extends the election deadline to September 22, 2008
    allowing shareholders to elect Cash Consideration, Share
    Consideration or a combination thereof
-   Gold Eagle's Board of Directors recommends that those shareholders
    who have not yet made an election and tendered their letters of
    transmittal do so by September 22, 2008

Gold Eagle announces that at a special meeting held on September 15, 2008, over 96% of the Gold Eagle shareholders present in person or by proxy at the meeting voted in favour of a special resolution approving the acquisition of Gold Eagle by Goldcorp Inc. ("Goldcorp"), pursuant to a plan of arrangement (the "Plan") under the Business Corporations Act (Ontario).

In addition, Gold Eagle announces that it is extending the election date by which Gold Eagle shareholders can submit letters of transmittal and election forms ("Letters of Transmittal") from 3:00 p.m. (Toronto time) on September 11, 2008 to 4:30 p.m. (Toronto time) on September 22, 2008 (the "Extended Election Deadline"). This extension allows additional time for all Gold Eagle shareholders to elect the form of consideration to be provided to them pursuant to the Plan. Gold Eagle shareholders are entitled to elect either the Cash Consideration, consisting of $13.60 per Gold Eagle Share, the Share Consideration, consisting of 0.292 of a Goldcorp share and $0.0001 in cash, or any combination thereof consisting of any combination of the Cash Consideration and the Share Consideration, subject to pro-ration as discussed below, all as described in Gold Eagle's management information circular dated August 15, 2008 (the "Circular") and as set out in the Letter of Transmittal. The initial election date has been extended following numerous inquiries received by Gold Eagle from Gold Eagle shareholders.

The Extended Election Deadline provides Gold Eagle shareholders who have not made an election and tendered their Letters of Transmittal a further opportunity to do so. In the event that a Gold Eagle shareholder does not make an election by the Extended Election Deadline, such shareholder will be deemed to have elected to receive the Cash Consideration for 50% of his or her Gold Eagle shares and the Share Consideration for the remaining 50% of his or her Gold Eagle shares, subject to pro-ration as discussed below.