Drilling To Commence on Eagle Plains' Bootleg Base-Metal Property, Southeastern B.C.
British Columbia | August 24, 2000Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:CDNX) is pleased to announce that it has received notification from optionee Rio Algom Exploration Inc. that diamond drilling will commence on Eagle Plains' 100% owned Bootleg property, located near Kimberley, British Columbia.
The property is situated 5 km from Cominco's world-class Sullivan deposit, and is contiguous with the Sullivan crown grants. Rio Algom may earn a 60% interest in the 184 unit (11,200 acre) property by carrying out $2,000,000 in exploration expenditures and making cash payments of $310,000 over 4 years (see news release May 31, 2000).
Rio Algom has completed geological mapping and sampling of the property during the 2000 summer season, and is planning to test the Sullivan time-stratigraphic horizon with a single drillhole. Drilling activities are expected to take approximately one week.
On behalf of the Board of Directors
Signed
“Tim J. Termuende”
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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