For Immediate Release: April 8, 2002

CDNX: PXN
Cusip: 704276 10 4

PAXTON INTERNATIONAL RESOURCES LTD. - Financial News

I am pleased to report that as a result of Mr. Robert J. Macdonald providing a personal guarantee in the amount of $500,000 to the Royal Bank as further collateral for the loans, the Royal Bank of Canada has withdrawn its' demand for the repayment of all loans to our subsidiary, Paxton Forest Products Inc. For providing this personal guarantee, the directors have approved a bonus of 583,333 shares and 1,000,000 warrants exercisable at $0.10 per share for a period of two years expiring November 26, 2003 to Mr. Macdonald.

While the removal of the Royal Bank's demand was a welcome relief to us, it provided no additional funds. To provide us with additional working capital, we have negotiated a Private Placement with Adriatic Investments Canada Ltd. in the form of a $300,000, 7% Convertible Debenture maturing November 30, 2002. Conversion price, if exercised, is at $0.10 per share.

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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