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Published on 11/1/2007 in the Prospect News PIPE Daily.

New Issue: War Eagle Mining ups private placement of units to C$4.25 million

By Devika Patel

Knoxville, Tenn., Nov. 1 - War Eagle Mining Co. Inc. said it is increasing its previously announced non-brokered private placement of units to C$4.25 million from $4 million. The deal priced on Oct. 18.

The company will now sell up to 8.5 million units, up from 8 million units, of one share and one half-share warrant at C$0.50 per unit. Each whole warrant will be exercisable at C$0.75 for 18 months.

Proceeds will be used for development of the company's Tres Marias project and for general administration.

War Eagle is a mining company based in Vancouver, B.C.

Issuer:War Eagle Mining Co. Inc.
Issue:Units of one share and one half-share warrant
Amount:C$4.25 million
Units:8.5 million
Price:C$0.50
Warrants:One half-warrant per unit
Warrant expiration:18 months
Warrant strike price:C$0.75
Agent:Non-brokered
Pricing date:Oct. 18
Upsized:Nov. 1
Stock symbol:TSX Venture: WAR
Stock price:C$0.49 at close Oct. 17

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