WAR EAGLE MINING COMPANY INC.

FEBRUARY 26, 2007                                                                                                                                                TSX Venture Symbol WAR

NEWS RELEASE                                                                                                                                                             CUSIP. No. 933901209

PROGRESS REPORT,

UNDERGROUND Diamond DRILLING RESULTS CONFIRM GRADE FROM THE ADIT, 2.5, 3 AND 4 LEVELS AT THE

TRES MARIAS MINE, CHIHUAHUA, MEXICO

Vancouver, BC War Eagle Mining Company Inc. Mr. Terence Schorn, P.Geo., President and CEO of War Eagle Mining Company Inc. reports that after reviewing all resource delineation results to date with Glenn O'Gorman, B.Sc., P. Eng., of OREM INC., an independent mining consultant, the Board of Directors has approved an expanded mine development program for the Tres Marias Mine. As part of the mine development program, War Eagle is pleased to release 16 initial underground core hole assay results from three upper level workings located at the adit, 2.5, 3^rd and 4^th levels.

These results are similar in grade to 855, 1.5 meter channel samples previously taken in the mine workings which assayed an averaged of 19.26% Zinc with 151 grams / tonne Germanium using a 5% Zinc equivalent cut-off grade. The underground drill program is continuing and is currently drilling on the 4^th level and is expected to move to the 6.5 level in March. 

As previously mentioned in the company's progress report of February 07, the underground drilling program will also include several core holes to be drilled below the 6.5 level where 138 channels samples averaged 339 grams/tonne germanium and 22.17% zinc which is higher grade than assays received from the levels above. 

The surface Diamond drill program which is designed to test several of the many known anomalies elsewhere on the Tres Marias Property has been underway for several days. This will include the drill testing of the La Blanca anomaly located some 800 meters (2,625 feet) to the south east of the Tres Marias Mine which has samples assaying up to 29% zinc and 98 grams/tonne germanium.

Further assay results will be reported as they are received from our lab, Copperstate Analytical Laboratory in Tucson, Arizona.

The Tres Marias Project is under the direction of Mr.Terence Schorn, P.Geo., a qualified person pursuant to the National Instrument 43-101.

War Eagle Mining would also like to announce the final payment of $100,000 has been made to Strategic Metals Ltd. which will give War Eagle Mining 100% ownership in its' MAC Tantalum, Tin, Lithium property subject to a 2.0% NSR.

For further information contact:         

Bob Faris, Vice President, Corporate Development

or Steve McGuire

at 1-800-877-1626 or 604-606-7973.

www.wareaglemining.com  

info@wareaglemining.com 

"Terence F. Schorn"

Terence F. Schorn, P. Geo

President

War Eagle Mining Company Inc

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