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Page 2 <br />News Release /Calais Resources Inc. <br />November 13, 2003 <br />and several additional assays are pending adjacent to those reported and <br />for zones below the pegmat ite reef. Initial assays of interest received to <br />date are: <br />From (ft). To(ft.) Gold oz./tn Silver oz./tn. Depth Below Surface <br />358.0 359.0 0.277 0.300 310 feet <br />388.0 389.0 0.116 0.80 340 feet <br />474.0 482.0* 0.295 0.625 420 feet <br />635.5 638.0 0.084 0.729 555 feet <br />1,435.0 1,437.5 1.235 30.30 1,250 feet <br />1,571.0 1,573.0 0.277 0.100 1,375 feet <br />* Including a 4.0 foot interval assaying 0.533 oz. Gold/ton and 0.729 oz. Ag/ton. <br />Core hole CR-03-127 is currently underway and has reached a depth <br />of -350 feet as of the date of this news release. The hole is located at East <br />8,165' and North 13,090' with an approximate collar elevation of 9,8b5 <br />feet. The azimuth for this hole is -135 degrees at a down hole angle of -60 <br />degrees. This hole is designed to intercept the No Name vein <br />approximately 100 feet south west of Calais hole CR-97-104 drilled in <br />August of 1997 which had a true width intercept in the No Name vein of <br />44 feet averaging 0.36 oz./tn gold. Hole CR-97-104 hit the No Name at a <br />down hole depth of -1,341 feet approximately 1800 feet north east on <br />strike of the historic No Name workings on Caribou Hill. Core Hole CR- <br />03-127 is expected to hit the No Name at a higher elevation <br />approximately - 950 feet down hole and 1,700 feet from the old workings. <br />Calais is employing the services of Drexel Barren Surveyors and <br />Engineers to survey the collar coordinates and azimuth of each hole. <br />Strata Data is being employed to provide down hole gyroscopic <br />directional surveys. Assaying is being completed by ALS Chemex Labs. <br />Samples are being initially run by 1 ton standard gravimetric fire assay. <br />Any samples that exceed 0.10 oz.ltn gold are being run by metallic screen <br />assay and with an additiona131 element ICP scan. All the data from the <br />drill program is being added into the Vulcan program at Mapte.k in <br />Lakewood, Colorado. Calais bas been working on a cold weather <br />equipment program to allow drilling to continue through the winter <br />months as possible. <br />