May 2010

Gold Mine Acquisition

In late 2008 Eagle Plains was in a good financial position with approximately $6 million in cash and investments.  Management, being committed to the concept that crisis creates opportunity, prospected for an opportunity that would fufill the following mandate:

With this in mind, management began networking and found an opportunity through a collegue that had been working on a gold mining project 9km east of Atlin, BC for the past five years.  The company had ran into finacial difficulties just as it had capitalized a mining operation and was in the midst of preparing an NI43-101 gold resource for further financing.  Upon conducting due diligence, both companies found that a joint venture arrangement would be a good fit as EPL offers an experienced team of exploration geologists, in-house GIS capabilities and permitting and tenure management experience.  On April 16, 2009 Eagle Plains and Prize Mining formed a joint venture company, the Yellowjacket Joint Venture.   For more information regarding this, please see our news release announcing the intent to produce gold at the Yellowjacket project, located 7 km east of Atlin, BC.

During the summer of 2009 the Yellowjacket Joint Venture acheived the following goals:

General Corporate Strategy

Current Treasury

Eagle Plains’ is currently in a sound financial position, maintaining a healthy treasury and continuing to be debt-free.  Management has implemented a number of measures to protect and enhance the treasury and reduce overhead expenditures. The Company is committed to maintaining the technical team and is well-positioned for when market conditions improve.

Joint Ventures
Eagle Plains continues to find success with the business model of inviting joint venture participation to assist with the exploration and development of our projects.

Bootleg Exploration Services

Another element of the corporate strategy is to provide a competitively priced geological consulting service to partners and third party clients.  This consulting company, Bootleg Exploration Services, offers a full range of GIS, data management, data collection, and geological services as well as diamond drilling support.  If you are seeking exploration services please contact Jesse Campbell toll free at 1 866 486 8673 or visit www.bootlegexploration.com for more details

Creating Shareholder Value

To create shareholder value when a discovery is made, EPL may spin-off the project into a new corporate entity.  This spotlights the projects value, creates value with new shares and makes it available for acquisition by a producing company.  An example of this is Copper Canyon Resources (CPY : TSX-V).  This spin-off was conducted through a "Plan of Arrangement" and resulted in a one-for-one share distribution.

Eagle Plains Staff

The staff of Eagle Plains are as outlined below:

- 7 in-house geologists

- 5 contract geologists

- 3 GIS specialists

- 10 contract geological technicians

- 1 office administrator

- 1 tenure manager

- 1 comptroller

- 1 accounting and office assistant

- 1 equipment technician

- 1 investor relations

Eagle Plains is proud to have assembled this impressive technical team and continues to value the support of the administrative staff.  Given that Eagle Plains controls more than 35 mineral exploration properties representing a wide variety of types of mineralization, the diversity of experience and knowledge with our team of geologists and technicians is integral to the efficient and thorough exploration of our properties.

Updated May 3, 2010