Vancouver, British Columbia — November 20, 2012 – War Eagle Mining Company Inc. (TSXV – WAR) (“War Eagle” or the “Company”) proposes to raise up to $500,000 by way of a non-brokered private placement offering (the “Offering”) of units of the Company.

The Offering will be priced at $0.07125 per unit with each unit consisting of one common share of War Eagle and one common share purchase warrant exercisable at $0.10. Each warrant will entitle the holder to purchase one common share of War Eagle for a period of two years following the date of closing of the Offering.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including acceptance of the TSX Venture Exchange (“TSX-V”). The net proceeds of the Offering will be used for working capital and for general corporate purposes.

The Offering is expected to close on or before November 30, 2012. All common shares issued under the Offering will be subject to a four-month hold period. Subject to regulatory approval, finders’ fees may be paid to certain finders. Some insiders of the Company may purchase shares, though this is expected to be not more than 25% of the Offering.

About War Eagle
The Company is an experienced mineral exploration company publicly traded since 1987 and listed on the TSX-V under the symbol WAR. The Company is in the exploration phase of the Tres Marias zinc-lead project in Mexico and the MAC tantalum-tin-lithium property in the Northwest Territories of Canada.

For additional information please contact:

War Eagle Mining Company Inc.
Don Padgett, Director
604-689-1515 ext. 104

Email: [email protected]
Website: www.wareaglemining.com

This news release was prepared by management of War Eagle, which takes full responsibility for its contents. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.