Vancouver, B.C. - War Eagle Mining Company Inc. (TSX Venture Exchange -- WAR) War Eagle Mining Company Inc. (the "Company") announces that it has granted a total of 425,167 incentive stock options to Directors, Officers, consultants and employees under its Stock Option Plan, which received shareholder approval on September 22, 2003, subject to the approval of the TSX Venture Exchange. The stock options will be exercisable at a price of $0.40 per share for a period up to five years. The Company is also seeking Exchange approval for the re-pricing of 345,500 incentive stock options from $0.60 per share to $0.40 per share. These options were granted in February and March, 2001 to Directors, Officers and consultants and expire in 2006.
The Company also announces a private placement of up to 312,500 common shares at a price of $0.40 per share, for total proceeds to the Company of $125,000. The proceeds of the Private Placement will be used for general working capital. The Private Placement is subject to TSX Venture Exchange approval.
For further information contact: Bob Faris, Vice President, Corporate Development at 1-800-877-1626 or 604-606-7973.
"Terence F. Schorn, P. Geo" President War Eagle Mining Company Inc
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