Kobex Terminates Option on Eagle Plains’ “Titan” Molybdenum Project

Cranbrook, B.C., 17 December, 2004: Eagle Plains Resources Ltd. (EPL:TSX-V) has been notified by Kobex Resources Ltd. (KBX – TSX-V) that Kobex has terminated its option agreement with Eagle Plains on the Titan molybdenum project located west of Atlin, BC. Eagle Plains believes that potential for a high grade molybdenum resource still exists on the property and will seek to advance the project with participation by a joint venture partner.

Eagle Plains Resources continues to conduct research, acquisition and exploration projects in western Canada. The Company controls over 30 gold and base-metal projects, many of which are currently optioned to or joint-ventured with third parties including NovaGold Inc., Northern Continental Resources Inc., Shoshone Silver Mining Co., and Golden Cariboo Resources Inc. 18 of these projects have seen exploration work in the past twelve months and Eagle Plains anticipates minimum expenditures of $1.5 million on their projects over the next twelve months. In recent years, Eagle Plains has completed option agreements with Billiton Metals, Rio Algom Exploration, Kennecott Exploration, Viceroy Resource Corp. and numerous other junior exploration companies, resulting in over 18,000m (60,000 ft) of drilling and over $6,000,000 in exploration spending on its projects since 1998.

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

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