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Eagle
Plains/Northern Continental Complete
Airborne Geophysical Survey on
Terrace-Area Gold Projects
Cranbrook,
B.C., 01 April, 2004: Eagle Plains Resources Ltd. (EPL:TSX-V)
and Northern Continental Resources (NCR:TSX-V)
have recently completed an airborne geophysical survey
on two separate mineral projects located 30-40km north
of Terrace, in west-central British Columbia. The survey
was conducted by Geotech Geophysical Ltd., and consisted
of airborne magnetometer and time-domain electromagnetic
(EM) instrumentation.
Two separate surveys were conducted, both on properties
held 100% by Eagle Plains. The Kalum
property consists of 540 units (32,000 acres), and was
covered by a 1500-line km survey, financed by EPL. The
LCR property (180 units/11,000 acres)
is located 5km north of Kalum, and is also owned 100%
by EPL. The property is currently under option to Northern
Continental (see News Release January 15th, 2004), who
financed a 500 line-km survey over the entire LCR project
area. Detailed technical reports are expected to be
received by late April.
Both the Kalum and LCR projects contain intrusive-related
gold targets associated with Cretaceous-aged granitic
stocks. Government regional stream-sediment sampling
of the two property areas outlined highly anomalous
metal enrichment in streams draining areas known to
host large intrusive bodies. Eagle Plains committed
$250,000 to reconnaissance-scale geological work on
the Kalum property during 2003 which confirmed the presence
of high-grade gold and silver-mineralized structures
associated with the intrusive rocks.
Eagle Plains has committed $1.4M for exploration work
on Kalum in 2004, with the airborne geophysical survey
being Phase 1 of a 3-phase program. Geological mapping
and sampling will follow in late spring, with a 10,000
foot diamond drilling program expected to commence in
mid-August. Northern Continental has indicated that
it will spend between $300,000 and $500,000 this season
on the LCR claims.
Eagle Plains Resources continues to conduct research,
acquisition and exploration projects in western Canada.
Through a network of experienced prospectors, consultants
and contractors in addition to seasoned employees and
a well-rounded Board of Directors, the Company has assembled
a diverse portfolio of gold and base-metal properties.
Eagle Plains seeks to attract joint-venture participation
on its properties, thereby leveraging exploration spending
to the ultimate benefit of the Company’s shareholders.
In recent years, Eagle Plains has completed option agreements
with Billiton, Rio Algom, Kennecott, NovaGold/SpectrumGold
Inc., Viceroy Resource Corp. and numerous other junior
exploration companies, resulting in nearly 13,000m (43,000’)
of drilling and over $5,000,000 in exploration spending
on its properties since 1998.
On Behalf of the Board of Directors
Tim J. Termuende, P.Geo.
President and CEO
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