War Eagle Mining Company Inc.

War Eagle Mining Company Inc.

September 28, 2005 10:00 ET

War Eagle Mining Company Inc.: Surface Diamond Drilling Completed, Additional Underground Channel Sampling Continues to Confirm High Grade Zinc and Germanium Mineralization at the Tres Marias

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 28, 2005) - War Eagle Mining Company Inc. (TSX VENTURE:WAR) The Company is pleased to announce that a 9 Hole, 1,512 meter surface diamond drilling program outlined in War Eagle's July 13, 2005 Press Release has been completed and assay results should be available during October. This exploration drilling tested two large solution collapse structures and fault intersections visible on surface that are each up to 500 metres from the Tres Marias shaft. Four holes were also drilled in the mine area to establish extensions to the know mineralization.

The second group of results from the underground channel sampling program have returned assay values comparable to results reported by Mineva Kennecott de Mexico S.A. in 1996. The assays from a total of 160 (#140 - #299) one and one half (1 1/2) meter long horizontal channel samples averaged 96 grams Germanium (Ge) and 17% Zinc (Zn) (See Map and Table on web site). Samples #1 - #299 were taken around the external periphery and pillars of virtually the whole accessable portion of level 6 1/2 and a portion of the 6th level which were mined by Zinc Nacional de Mexico and are distributed over a lateral extent of roughly 55 meters. This implies that at least approximately 4,000 tonnes of mineralization per vertical meter was mined from the 6 1/2 level portion of the deposit alone and augers well for War Eagle to achieve the anticipated minimum economic threshold of 500,000 tonnes.

The Market Price for Germanium is presently quoted at approximately US$ 600/kg. while Zinc is presently selling for about US$ 0.65/lb. The average grade of all 298 samples taken to date is 208 gm/tonne Germanium (Ge) and 19% Zinc (Zn) which represents a contained Ge content of about 0.2 kg./tonne along with 418 lbs/tonne of Zn.

Underground channel sampling is being conducted under the guidance of War Eagle's Dr. David Hackman, Ph.D. (Director) who supervises the Tres Marias Exploration Program. The Tres Marias project is under the direction of Terence Schorn, P.Geo, the qualified person pursuant to the National Instrument 43-101.

Photo's and detailed Sample Analytical reports for the Tres Marias Project are available on the Company web site at www.wareaglemining.com.

Terence F. Schorn, P. Geo, President

War Eagle Mining Company Inc.

CUSIP. No. 933901209

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • War Eagle Mining Company Inc.
    Bob Faris
    Vice President, Corporate Development
    1-800-877-1626 or (604) 606-7973