The Golden Eagle deposit is located on Red Mountain, 10 kilometres south-southwest of Nelson. The Golden Eagle claim (Lot 4215) was staked in 1899 and workings were developed on the adjacent T.S., Sun and Golden Eagle claims at various times. In 1928, Bill Rozan began prospecting in the area and continued for more than 40 years. Eric Denny and Frank Cameron acquired the property in 1972. Various options included Harrison Drilling, Hiawatha Resources Inc. and Yukon Revenue Mines Ltd. who completed surface mapping, sampling and trenching on the property. Development comprises six underground workings and more than 600 metres of surface trenching. The main adit was rehabilitated in the early 1980's.

The area is underlain by sedimentary rocks of the Archibald Formation and volcanic rocks of the Elise Formation, both of the Lower Jurassic Rossland Group. These have been intruded by Middle to Late Jurassic Nelson Intrusions. The Red Mountain fault crosscuts the area. Lithologies consist of argillite, siltstone, andesite tuff, lapilli tuff, granodiorite and quartz monzonite.

North striking quartz veins, up to 1 metre wide, crosscut granodiorite and tuff. Mineralization consists of pods and disseminations of pyrite, galena, sphalerite, chalcopyrite and, locally in the main vein, visible gold. Veins in the vicinity of the main workings are often associated with a limonite cap which is reported to contain visible gold. Gold values are apparently related to pyrite content. Quartz filled fractures in aplite dykes also carry small amounts of sulphides. The pockets, or lenses, of sulphides in the vein are typically highly oxidized in the exposures near surface. Breccia occurs in the footwall of the ore shoot that was mined. The Red Mountain fault occurs immediately to the west of, or in, the workings.

Production totals 104 tonnes of hand selected ore yielding 3951 grams of gold, 4385 grams silver, 2028 kilograms lead and 1082 kilograms zinc. Chip sampling indicates values up to 6 grams per tonne gold, locally, and samples taken in the area have assayed up to 2.16 per cent copper (Assessment Report 18188).

For a full property history, see MINFILE 082FSW308 (Flying Dutchman).

In January 2010, Valterra Resource Corp. optioned the Rozan property from Emgold. Valterra conducted topographical and geophysical compilation studies, and relogged, resampled and catalogued some of the historic drillcore (Assessment Report 32128).

In 2011, Valterra conducted a program of geological mapping (approximately 2 square kilometres), collecting and analyzing four rock samples and 119 soil samples. In total, 10 gold anomalies were identified by Valterra. A northwest-southeast–-trending gold soil anomaly (target A) extends for approximately 1.8 kilometres and is up to 200 metres wide (the true width is unknown). Along the surface trace of the Mount Verde fault, a strong anomaly (target B) is identified by gold, tungsten, arsenic and manganese in the soils. The remaining gold soil anomalies are generally northeast-southwest– orientated and are considered related to high-grade or sheeted quartz vein gold mineralization on the property (Assessment Report 32592).

In 2012, Emgold completed 1,495.3 metres of BTW-size diamond core drilling in 15 drill holes on the property, focusing on gold exploration targets. Highlights of the 2012 drill program include 11.13 grams per tonne gold over 1.45 metres in drillhole 12ROZ-08 in the sheeted vein zone and 1.65 grams per tonne gold over 1 .00 metre in drillhole 12ROZ-01 in the main vein zone (V STOCKWATCH, January 28, 2013).