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Page 3 <br />News Release /Calais Resources Inc. <br />November 13, 2003 <br />Calais is also pleased to report it has recently acquired a number of <br />key patented lode mining claims and staked additional unpatented lode <br />mining claims in the district to expand the land position at Caribou by <br />approximately 125 acres in areas of the mineral systems. <br />Calais is also pleased to announce it completed a recent private <br />placement with a Canadian citizen for $93,600 USD for 80,000 shares at <br />$1.17 with a warrant for the same number of shares over 1 year or at $ <br />1.50 per share or at $ 2.00 per share for the second year. The transaction <br />was closed on October 31, 2003. <br />For further information please contact: <br />Mr. Tom Hendricks <br />President <br />Mine Office -Caribou <br />Phone: 303 258-3806 <br />Fax: 303 258-0402 <br />Mr. Matt Witt <br />CFO <br />Greenwood Village Office <br />Phone: 720 529-9500 <br />Fax: 720 529-9747 <br />Email: <br />matt.witt@worldnet.att.net <br />"Safe Harbor Statement" <br />