Eagle Plains Closes Financing

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V) announces that it has completed a non-brokered private placement to arms-length and non arms-length investors, as announced December 3rd, 2003. A total of $632,000 CDN was raised through the issuance of 1,264,000 flow-through common shares at $.50 CDN per share. The subject securities are restricted from trading for a four-month period. A finders fee of $3,450 in cash and shares was paid in relation to certain subscribers of the offering.

Funds generated by the financing will be used by the company to advance exploration work on its BC and Yukon projects.

No. of shares: 1,264,000
Price: 50 cents per share
Warrants: None Issued
Placees: 35 Individuals

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.