Andromeda and War Eagle Shareholder Meeting Update
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/19/10 -- War Eagle Mining Company Inc. (TSX VENTURE: WAR) ('War Eagle' or the 'Company') is continuing to work with the management of Andromeda Resources Inc. ('Andromeda') on the previously announced reverse takeover transaction. War Eagle and Andromeda are currently in discussion with several parties concerning the planned concurrent financing. The proposed transaction will require the approval of War Eagle's shareholders, but it will not be possible to seek shareholder approval until War Eagle and Andromeda have established the terms of the concurrent financing.
The Company previously scheduled its annual and special meeting for December 17, 2010. In order to minimize expenses, War Eagle's management and board would like to combine the statutory shareholder meeting with approval of the Andromeda transaction. Due to the approaching holiday season, it will not be practical to close a financing transaction in 2010 and so the Company intends to postpone its annual and special meeting until 2011. War Eagle will need to seek the approval of appropriate regulatory authorities as it would otherwise be required to hold a shareholder meeting in 2010. The Company will announce a new date for the annual general and special meeting in due course.
About War Eagle
War Eagle Mining Company Inc. is an experienced mineral exploration company publicly traded since 1987 and listed on the TSX Venture Exchange under the symbol WAR. The Company is in the exploration phase of the Tres Marias zinc-lead project in Mexico. Tres Marias is a former producing high-grade zinc and germanium mine that first produced ore in 1949.
This news release was prepared by management of War Eagle, which takes full responsibility for its contents.
Legal Notice Regarding Forward Looking Statements
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 future results, performance or achievements could differ materially from those expressed in these forward-looking statements will transpire. 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 include references to a future drill program and related plans. These statements are based on assumptions made by the company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
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.
Contacts:
War Eagle Mining Company Inc.
Simon Anderson
President
604-681-7010
info@wareaglemining.com
www.wareaglemining.com