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Re: News Release - Tuesday, April 29, 2008
Core Drilling Confirms Surface Mineralization Continues to Depth
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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 War Eagle Mining Company Inc. (TSX Venture
Exchange - WAR) War Eagle Mining Company Inc. (WAR:TSX.V) today is
pleased to announce that the results from the 2007
Diamond drilling
program on the MAC Property, Northwest Territories (Canada) have set
the stage for an aggressive 2008 exploration program with a planned
Phase III, depending on results, to be an underground adit. The adit
will be engineered for further exploration drilling but could be useful
as a haulage drift to ship ore if found in sufficient quantities.
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 facilitated by hand
trenching 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 ~10 meters of the
drill holes.
All drill holes intersected the pegmatite dikes including a ~25.4 meter
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 ~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) these 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 (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
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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)
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MAC001 62.50 63.60 2.50 1.10 98 0.02 0.26 317.46 307.34
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MAC001 68.80 70.10 2.50 1.30 609 0.13 1.64 84.25 250.19
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MAC001 86.00 89.20 3.20 2.10 2497 0.54 6.74 76.92 384.81
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MAC001 102.80 105.94 3.14 1.74 2910 0.63 7.86 140.42 189.23
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MAC006 61.88 66.86 4.98 2.18 1186 0.26 3.20 76.92 231.14
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MAC006 85.60 87.00 2.50 1.40 1703 0.37 4.60 177.05 298.45
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MAC006 172.37 190.64 18.27 13.00 4294 0.92 11.59 32.97 149.86
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MAC007 30.22 33.62 3.40 0.98 911 0.20 2.46 57.39 171.45
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MAC007 105.84 116.78 10.94 9.86 5581 1.20 15.07 35.41 219.71
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MAC007 143.73 149.20 5.47 1.69 1536 0.33 4.15 26.86 104.14
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MAC008 37.58 38.73 2.50 1.15 1243 0.27 3.36 79.37 241.30
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MAC008 153.93 158.45 4.52 2.02 898 0.19 2.42 35.41 82.55
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Table 1b. Selected "bulk" intercepts with widths larger than 50 meters
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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)
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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
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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).
"We are very pleased with the results of this first drilling program on
the MAC Property" stated Brad Kitchen, President of Eagle Hill. "With
increasing global demand for lithium and severe shortages of tantalum,
a rare metal that is expected to record a four-fold consumption
increase in the near future, along with the recent increase in the
price of tin, Eagle Hill is well positioned to create value for its
shareholders."
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 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.
For further information please go to
or contact
Bob Faris, V.P. Corporate Development
at 1-800-877-1626 or 604-606-7973
Media Relations
Nancy Tamosaitis
Vorticom Public Relations
212.532.2208
The TSX Venture Exchange has not reviewed and does not accept the
responsibility for the adequacy or accuracy of the contents of the
foregoing.
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
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Copyright (c) 2008 WAR EAGLE MINING COMPANY INC. (WAR) All rights
reserved. For more information visit our website at
http://www.wareaglemining.com/ or send
mailto:news@sweetwatercapital.net
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