War Eagle Mining Company Inc.
TSX VENTURE : WAR

War Eagle Mining Company Inc.

April 29, 2008 09:00 ET

War Eagle Mining Company Inc.: Core Drilling Confirms Surface Mineralization Continues to Depth

Initial assay results for Lithium, Tin, Tantalum and Niobium on the MAC Property lays groundwork for an aggressive 2008 exploration program including a Phase II Drilling Program of up to 18,000 feet (6,000 meters)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2008) - War Eagle Mining Company Inc. (TSX VENTURE:WAR) today is pleased to announce that the results from the 2007 diamond drilling program on the MAC Property, Northwest Territories (Canada) which have set the stage for an aggressive 2008 exploration program with a planned Phase III, depending on results, to be an underground adit.

The 2008 exploration program will consist of fence drilling the two areas near DDH MAC001 (north-end), and DDH MAC006 and 007 (mid-property). The drilling program may prove additional mineralization and may require drilling of up to twenty (20) holes for total of about 18,000 feet. Concurrent with the 2008 diamond drilling will be detailed mapping and mini-bulk sampling from 3 trenches within the immediate vicinity of the drill sites.

The MAC Property contains several hundred pegmatite dikes with anomalous concentrations of tantalum (Ta), lithium (Li), and tin (Sn). The property consists of twenty (20) contiguous claims that cover a 6,197 hectare area located approximately 47 km northwest of the Cantung tungsten mine and 54 km southeast of the Howard's Pass zinc, lead, and silver district. War Eagle Mining has an Agreement whereby Eagle Hill Exploration Corporation has the right to earn up to a 70% working interest in the MAC Property over a period of three years from War Eagle Mining Company Inc. (TSX VENTURE:WAR) by incurring work expenditures of up to $2,800,000.

The 2007 drilling program consisted of eight holes and totaled 5,900 feet (1,798 meters). The drill holes MAC001, MAC006, and MAC007 show the most promising results. The further five drill holes show continuation of the pegmatite system to depth. In six of the eight holes, pegmatite was encountered within the last approximately 10 meters of the drill holes.

All drill holes intersected the pegmatite dikes including an approximate 25.4 meter (83 feet) section from MAC006 (from 165.9 meters to 191.33 meters) that was sampled continuously to include the host rock (metasediments) of the pegmatite. The continuously sampled section indicates mineralization beyond the margin of the pegmatite and into the host rock. Lithium diffuses the most (up to 1070 parts per million approximately 1.2 meters away from the contact). Tantalum (up to 102.5 parts per million 0.5 meters away from the contact) and tin (up to 236 parts per million 0.5 meters away from the contact) that are more restricted to the pegmatite rocks.

The grades of the 2007 geochemical sampling from the diamond drilling program correlate well with the previous surficial specimen, channel and chip sampling. Thus, the results from the diamond drilling, coupled with historical surface sampling programs, confirm not only the large aerial extent of the mineralized system but also the continuation of the system to depths in the order of 1000 meters (3,281 feet) (plateau height to valley bottom). Tables 1a and 1b below show the normalized grade highlights as indicated from multi-element evaluation of lithium, tantalum and tin.



Table 1a. Selected "individual" intercepts with minimum mineable width of
2.5 meters applied

--------------------------------------------------------------------------
Collec-
tive
Total Pegma- Lith-
To Width tite Lith- ium % Tantalum Tin
DDH From (met- (met- Width ium Oxide Spod- Oxide Oxide
Hole (meters) ers) ers) (meters) (ppm) (%) umene (g/t) (g/t)
--------------------------------------------------------------------------
MAC001 62.50 63.60 2.50 1.10 98 0.02 0.26 317.46 307.34
--------------------------------------------------------------------------
MAC001 68.80 70.10 2.50 1.30 609 0.13 1.64 84.25 250.19
--------------------------------------------------------------------------
MAC001 86.00 89.20 3.20 2.10 2497 0.54 6.74 76.92 384.81
--------------------------------------------------------------------------
MAC001 102.80 105.94 3.14 1.74 2910 0.63 7.86 140.42 189.23
--------------------------------------------------------------------------
MAC006 61.88 66.86 4.98 2.18 1186 0.26 3.20 76.92 231.14
--------------------------------------------------------------------------
MAC006 85.60 87.00 2.50 1.40 1703 0.37 4.60 177.05 298.45
--------------------------------------------------------------------------
MAC006 172.37 190.64 18.27 13.00 4294 0.92 11.59 32.97 149.86
--------------------------------------------------------------------------
MAC007 30.22 33.62 3.40 0.98 911 0.20 2.46 57.39 171.45
--------------------------------------------------------------------------
MAC007 105.84 116.78 10.94 9.86 5581 1.20 15.07 35.41 219.71
--------------------------------------------------------------------------
MAC007 143.73 149.20 5.47 1.69 1536 0.33 4.15 26.86 104.14
--------------------------------------------------------------------------
MAC008 37.58 38.73 2.50 1.15 1243 0.27 3.36 79.37 241.30
--------------------------------------------------------------------------
MAC008 153.93 158.45 4.52 2.02 898 0.19 2.42 35.41 82.55
--------------------------------------------------------------------------


Table 1b. Selected "bulk" intercepts with widths larger than 50 meters

--------------------------------------------------------------------------
Collec-
tive
Total Pegma- Lith-
To Width tite Lith- ium % Tantalum Tin
DDH From (met- (met- Width ium Oxide Spod- Oxide Oxide
Hole (meters) ers) ers) (meters) (ppm) (%) umene (g/t) (g/t)
--------------------------------------------------------------------------
MAC001 62.50 122.10 59.60 8.93 345 0.07 0.93 39.07 68.58
MAC006 61.88 190.64 128.76 30.16 735 0.16 1.98 13.43 40.64
MAC007 100.85 179.10 78.25 15.25 977 0.21 2.64 9.77 54.61
--------------------------------------------------------------------------


Lithium assays are received in ppm, however, product is typically delivered as a lithium bearing silicate mixture (i.e., spodumene) with a minimum Li2O content reported in per cent (%). Tantalum and tin assays are also received in ppm but often reported in oxide form (Ta2O5 and SnO2, respectively) and reported in grams per tonne (g/t).

Ivan Young, P. Geo., is the qualified person under National Instrument 43-101 who is supervising the exploration program on the MAC Property. All analytical work was completed by ALS Chemex Laboratories Ltd. of North Vancouver, BC, using standard assay procedures that included analysis of Li via method MEMS61 (four-acid "near total" digestion), while all other elements were obtained via method MEMS81 (a more robust technique using sample fusion in lithium borate). A technical report in respect of 2007 diamond drilling program on the MAC Property will be filed on www.sedar.com within 45 days of the date of this news release.

War Eagle Mining Company Inc.

War Eagle Mining Company Inc. is an experienced mineral exploration company publicly traded since 1987 and is listed on the TSX Venture Exchange under the symbol WAR. The company is also in the exploration and development phase of the Tres Marias Germanium and Zinc Mine in Mexico. The Tres Marias is a former producing high-grade germanium and zinc mine that first produced ore in 1949.

The Project is under the direction of Mr. Terence Schorn, P. Geo., the qualified person pursuant to the National Instrument 43-101.

This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities.

In addition there are risks and uncertainties associated with mining operations, therefore the Company's actual results, performance or achievements could differ materially from those expressed in or implied by these forward-looking statements. There can be no assurance that any future events will transpire, or occur, or if any of them do so, what benefits, including the amounts of proceeds, the Company will derive therefrom. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the company based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.

CUSIP. No. 933901209

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.

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