VANCOUVER, BC--(Marketwired - August 15, 2016) - War Eagle
Mining Company Inc. (TSX VENTURE: WAR) ("War Eagle" or the "Company") announced today
that Paul A. Carroll QC, a Director and Chairman of the Board of the Company, has been appointed as its President and Chief
Executive Officer replacing Thomas R. Atkins who continues as a Director. Mr. Carroll has been a Director of War Eagle since
November 7, 2012 and is the owner of 2.1 million (9.8%) of the common shares of the Company and holds options to acquire an
additional 600,000 shares of the Company.
Mr. Carroll has had a lengthy business career in the mining industry, both as a lawyer and as a director and
officer of mining companies. He has been engaged in mineral exploration and mining in Canada, the US, Mexico, Central and South
America, Africa, China, Russia and Kazakhstan. Companies with which he has been involved include Dundee Corporation, Corona
Corporation and World Wide Minerals Ltd.
War Eagle also announced today that having recently received US$400,000 from the sale of its Tres Marias
zinc-lead mine in Mexico, it appeared to be regularizing receipt of the balance of US$1,700,000 with the next installment of
US$200,000 due in September 2016 and the final installment due in January 2017.
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.