RAB Special Situations (fka RAB)

[Tackler]

WAR War Eagle raises $1-million for Tres Marias

2005-04-14 15:14 ET - News Release

Mr. Terence Schorn reports

WAR EAGLE RAISES $1,000,000 FOR TRES MARIAS MINE, MEXICO

War Eagle Mining Company Inc. has completed a total of $1-million in private placement financings in 2005. Bolder Investment Partners and RAB Special Situations LP have each completed $400,000 and a private investor also participated for $200,000.

The company has received approval for an extension and repricing of shareholder warrants originally due to expire Dec. 29, 2004, at 60 cents, now expiring Dec. 29, 2005, at 30 cents per share. The company is seeking exchange and warrantholders' approval to reprice shareholder warrants originally due to expire March 1, 2006, at 45 cents per share also to 30 cents per share.

War Eagle Mining is progressing with the mine development and exploration program at the Tres Marias zinc/germanium mine in Chichuahua, Mexico, and will report developments on a timely basis throughout the year.