Day: August 19, 2015

In October 2014, as a result of a review of its disclosure record as of that date by staff of the British Columbia Securities Commission, War Eagle concluded that clarification of certain aspects of its previous disclosure is required to clarify prior disclosure made by it respecting mineral properties then held by the Company in Mexico and Canada. This was in reference to previous Company statements related to the Tres Marias former producing zinc-lead-germanium mine in Chihuahua, Mexico, and the MAC rare earth exploration project in the Northwest Territories, Canada. Since that disclosure was made the Company has disposed of the Tres Marias mine and has dropped the MAC claims.

During Q4, a total of 77,279 tonnes were milled at an average grade of 2.00 g/t gold and 19 g/t silver resulting in the production of 4,694 gold equivalent ounces. Mill recoveries averaged 86.9% for gold and 57.4% for silver. Equivalent gold ounce calculation is based on the actual daily average gold:silver ratio of 73.01 during the quarter.