Eagle Plains Discovers Base-Metals on Pelly Mountain VMS Properties, Central Yukon Territory

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:CDNX) is pleased to announce analytical results on two of its 100% owned properties located in the Pelly Mountains of south-central Yukon Territory, approximately 30km south of Ross River. Volcanogenic massive sulphide (VMS) polymetallic (gold-silver-copper-lead-zinc) mineralization was targeted on the St. Cyr, Fire, and Ice properties. Though no significant mineralization was encountered on the St. Cyr property, on the Fire and nearby Ice properties, five of six holes intersected thick barite material containing variable amounts of silver-lead-zinc mineralization. Five holes were collared on the Fire property from two locations some 800m apart. No significant results were obtained from Hole 1. Holes 2-5 (all drilled from the same location) intersected mineralized barite material over apparent thicknesses ranging from 5.3m to 15.1m. Results include:

• DDH F00-02 (-78°/265°) 23.0-38.1: 15.1m @ 22.4g/T Ag, 1529ppm Pb and 6033ppm Zn, including 3.3m (approximate true thickness) @ 65.5g/T Ag, 4930ppm Pb and 2.15% Zn. Hole lost at 38.1m.
   
• DDH F00-03 (-50°/175°) 23.5-34.7: 11.2m @ 5.8gm/T Ag, 415ppm Pb and 1903ppm Zn.
   
• DDH F00-04 (-50°/355°) 43.2-48.5: 5.3m @ 17.8g/T Ag, 1293ppm Pb and 3654ppm Zn.
   
• DDH F00-05 (-78° /265°) 24.6-81.9: 57.3m @ 4.4g/T Ag, 428ppm Pb and 1219ppm Zn, including 24.6-31.3 : 6.7m @ 14.4g/T Ag, 1561ppm Pb and 3833ppm Zn; and 57.4-69.6: 12.2m (approximate true thickness) @ 3.3g/T Ag, 199ppm Pb and 1437ppm Zn.

On the Ice property, located 7km SW of the Fire, a single vertical hole (DDH I00-01) was drilled to a total depth of 107m (351'), and intersected a thick exhalitive bedded barite horizon containing numerous stratiform sulphide horizons over an approximate true thickness of 48.4m (158.8 feet) from a depth of 30.2m (99.1') to 78.6m (258'). The best mineralized interval within the barite was found from 56.7m to 58.0m, which returned 5.64% zinc, 0.17% lead, and 12.3 g/T silver. Overall, the entire barite interval averaged 8.9g/T Ag, 5019ppm zinc and 1659ppm lead over its 48.4m thickness. Located immediately beneath the mineralized barite is intensely altered, sulphide and barite bearing volcaniclastic and exhalitive rock to 107.0m (351'), where the hole was stopped due to swelling clays. This material was also highly anomalous in base-metal mineralization, with the interval 78.6m-94.8m averaging 6.31 g/T Ag, 2235 ppm zinc and 757 ppm lead. Samples were processed using Atomic Absorbtion Spectroscopy (AAS) and Inductively Coupled Plasma (ICP) geochemistry at Northern Analytical Laboratories in Whitehorse. Detailed analyses may be viewed downloaded here [PDF Document] for all holes mentioned above.

Subsequent to drilling activities, Eagle Plains staked 250 additional claims in the area, adjoining the Fire and Ice properties, and securing additional VMS targets within the region.

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.