For Immediate Release: April 2, 2001

CDNX: PXN
Cusip: 704276 10 4

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

The Company is pleased to announce that it has received $500,000, the proceeds of the final tranche of 2,500,000 units ($0.20 per unit) of the non-brokered Private Placement of 7,500,000 units originally subscribed for by Macdonald Development Corporation. Each unit consists of one common share in the capital stock of the Company and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.30 per common share for a term of two years. The private placement was carried out in three tranches. The Company had previously received $1,000,000 in two tranches from Macdonald Development Corporation. With the approval of the directors, Macdonald Development Corporation assigned its right to this final tranche of 2,500,000 units to Adriatic USA, Inc.of 3533 262nd Avenue S.E., Sammamish, WA. USA, a corporation controlled by Robert A. Hubbard.

Robert A. Hubbard, through Adriatic USA, Inc., has direct or indirect beneficial ownership over 2,500,000 common shares and 2,500,000 share purchase warrants, representing approximately 16% of the issued and outstanding share capital.

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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