For Immediate Release: October 15, 2001

CDNX: PXN
Cusip: 704276 10 4

PAXTON INTERNATIONAL RESOURCES LTD. - New Directors

At the Annual General Meeting of the Company held on September 27, 2001 in Vancouver, Robert J. Macdonald and Robert A. Hubbard were elected as new directors of Paxton. Both Mr. Macdonald and Mr. Hubbard have been involved in the real estate industry for many years. They join Leroy Rothrock, Robert K. Wallace and Brian W. Elliott who were all re-elected for another term as directors.

Robert Wallace was re-elected Chairman of the Board of Directors. Brian Elliott was appointed President, Chief Executive Officer and Chief Operating Officer and Robert Macdonald was appointed Corporate Secretary of the Company.

The Board wants to thank Wilfrid T. (Digby) Porter and Barry L. Whelan, who have served as directors for a number of years and who remain as shareholders, for their dedication to the Company. We want to acknowledge the contributions they have made to the Company and wish them well in their retirement from Paxton.

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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