Eagle Plains Announces Request For Trading Halt Pending Shareholder Meeting to Consider Plan of Arrangement

Cranbrook, B.C. 31 May, 2006 Eagle Plains Resources Ltd. (“Eagle Plains” or the “Company”)(EPL:TSX-V) announces that the Company has requested a temporary trading halt of its shares as of the opening of trading on June 1st, 2006 noting that May 31st, 2006 was the last day for processing trade orders for settlement on or before June 5th, 2006. As previously disclosed, Eagle Plains shareholders of record on June 5th, 2006, referred to as the “Share Distribution Record Date”, will be entitled to receive Eagle Plains New Shares and Copper Canyon Shares under the Company’s proposed plan of arrangement (the “Arrangement”). As any shareholder acquiring shares in Eagle Plains after the Share Distribution Record Date will not participate in the distribution of Copper Canyon Shares, the Company has requested the halt of trading of its shares until after its shareholders have had an opportunity to consider the Arrangement at the Eagle Plains shareholder meeting set to be held on June 9th, 2006 (the “Meeting”). Eagle Plains anticipates that trading of its shares will resume shortly after the Meeting, at which time a further news release will be disseminated.

 

On behalf of the Board of Directors

“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.