For Immediate Release: November 29, 2000

CDNX: PXN
Cusip: 704276 10 4

PAXTON INTERNATIONAL RESOURCES LTD. - Management Report for Six Months Ended September 30, 2000

Finally some good news!

For a change, we are pleased to report a profit for one of quarterly reports. During the second quarter of this year, the company earned a profit of $44,000. The turnaround in operations continues, as the loss for the six months ended September 30, 2000 has been reduced to $88,000 compared to a net loss of $648,000 last year. The net improvement over the same six months last year is $560,000. While sales only increased minimally, our gross profit margin increased to 22.7% from 16.2% last year. In addition, our general and administrative expenses decreased by over $100,000 over the same six months last year.

With a few breaks, we expect to show a modest profit for the year ended March 31, 2001. This would mean a $1 million improvement over last year’s results. While the operations have been turned around, we are still tight for cash. The recently announced private placement of $1.5 million will help considerably in this regard. We will be in a position to take advantage of opportunities that we have had to pass up because of the lack of funds. There will be reduced interest costs and other operating efficiencies. While the past year has been a challenge, we see the future as a real opportunity. Both operating divisions are operating profitably at present and, while the winter will be slow, we envision a great spring.

The Directors greatly appreciate the patience and support shown by shareholders while we have been going through these tough times and we believe your patience will be rewarded in the not-too- distant future.

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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