Communiqués de presse

Triax Resource Limited Partnership

TORONTO, Nov. 15 /CNW/ - The Partnership would like to respond to numerous questions from Limited Partners concerning the redemption feature. The Partnership confirms that the Partnership is open for unlimited redemptions. As previously announced by the Partnership on October 7, 2002, the 4% cap on redemptions was removed in October following confirmation that the Partnership had sold its interest in RMX Exploration Ltd. Limited Partners wishing to tender their units for redemption should contact their financial advisor.

The Partnership also announces that it has reached a settlement of the litigation commenced in respect of its 1997 investment in REA Gold Corporation. The settlement transaction will be closed upon the exchange of the already agreed upon, but yet to be fully executed documentation, and delivery of the consent Court order dismissing the litigation. The proceeds of the settlement to be realized upon obtaining receipt of the court order were reflected in the net asset value per unit of the Partnership for Thursday, November 14, 2002.

Triax Resource Limited Partnership trades on The Toronto Stock Exchange under the symbol TRF.UN.

For further information: please call the General Partner at (416) 362-2929 or (800) 407-0287