Eagle Plains Announces Financing

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V) announces that it intends to complete a non-brokered private placement to arm’s-length and non-arm’s length investors. Application will be filed with the TSX Venture Exchange (TSX-V) to sell 800,000 to 1,200,000 flow-through common shares at a price of $.50 CDN per share. It is expected that a 3% finders fee will apply to a portion of the offering purchased by non-arm’s length investors. No other commissions will be paid. The financing is anticipated to close by the end of December.

Funds generated by the financing will be used by the company to advance exploration on a number of its British Columbia and Yukon projects.

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.