War Eagle Mining Company Inc.

War Eagle Mining Company Inc.

March 03, 2005 09:00 ET

War Eagle Mining Company Inc.: Tres Marias Mine Exploration and Development Underway


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: WAR EAGLE MINING COMPANY INC.

TSX VENTURE SYMBOL: WAR

MARCH 3, 2005 - 09:00 ET

War Eagle Mining Company Inc.: Tres Marias Mine
Exploration and Development Underway

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 3, 2005) - War Eagle
Mining Company Inc. (TSX VENTURE:WAR) War Eagle Mining Company Inc.
closes the first $400,000 of the proposed $1 million financing and the
Tres Marias Mine Development program is underway.

During the first quarter of 2005 and in preparation for the underground
drilling and sampling program the Company is purchasing the required
surveying and sampling equipment as well as installing the air and water
lines to the 6th level. Photogeology mapping of the entire concession
continues, along with geochemical analysis and geophysical reporting.

The extensive underground workings will be sampled and assayed during
the second quarter of 2005 and the underground and surface drill
programs will follow.

The Tres Marias mine last produced high-grade zinc/germanium ore in 1992
but was shut down by the operator, Zinc National S.A., when the smelter
used to treat the ore in Monterrey Mexico was forced to close. The
average grade of ore produced from the mine since 1948 is 20% zinc,
400gm/ton germanium and 6% lead. Given today's metal prices, the ore
would have a value of more than US $500 per ton. War Eagle's development
program hopes to prove a minimum minerable resource of 500,000 tonnes
with the potential to add additional tonnage considering the numerous
targets identified on the concession to date.

Terence F. Schorn, P. Geo, President

War Eagle Mining Company Inc.

CUSIP. No. 933901209

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    War Eagle Mining Company Inc.
    Bob Faris
    Vice President, Corporate Development
    1-800-877-1626 or (604) 606-7973
    www.wareaglemining.com
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    responsibility for the adequacy or accuracy of the contents of the
    foregoing.