For Immediate Release: November 9, 2000

CDNX: PXN
Cusip: 704276 10 4

PAXTON INTERNATIONAL RESOURCES LTD. - $1,500,000 Private Placement

The Company is pleased to announce that it has negotiated a non-brokered private placement of 7,500,000 units to MacDonald Development Corporation at a price of $0.20 per unit for gross proceeds of $1,500,000. Each unit will consist of one common share in the capital stock of the Company and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.30 per common share for a term of two years.

The proceeds from the private placement will be used to pay corporate obligations and for the retirement of a portion of the term debt. The remainder of the proceeds will be used for working capital. The private placement will be carried out in tranches, with funding to be completed by January 15, 2001.

The issuance of the private placement shares and non-transferable share purchase warrants is subject to regulatory approval.

On behalf of the Board of Directors
PAXTON INTERNATIONAL RESOURCES LTD.

Brian W. Elliott, M.B.A, C.A.
President and C.E.O.

The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.

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