Eagle Plains Commences Exploration Activity on Selwyn Basin ZincLead Project, Western N.W.T.
Cranbrook, B.C., 05 July, 2005: Eagle Plains Resources Ltd. (TSXV: EPL) is pleased to announce the start of field work on a project to evaluate ZnPb deposits and showings within a belt of carbonate rocks in the Mackenzie Mountains southwest of Norman Wells N.W.T. The company currently holds eight prospecting permits and two claim blocks covering many of the 85 known significant ZnPb occurrences in the area, including those at Gayna River and the Twitya River.
Eagle Plains has assembled a group of experts in the field of carbonatehosted ZnPb deposits to assess the economic and exploration potential of the known showings and the regional potential of the zinc belt. The carbonatehosted ZnPb belt of the Mackenzie Mountains is extensively altered and is considered contiguous with the alteration system present at the Pine Point ZnPb mining camp in the southwestern N.W.T. Numerous highgrade showings, some of which have a resource of several million tonnes (preN. I. 43101), indicate that this carbonate belt has the potential to host high grade ZnPb deposits similar to those found in the Pine Point, Polaris and Nanisivik districts of the NWT and Nunavut.
The economic potential of the district and individual showings will be assessed through field and laboratory work. Field examination of the significant ZnPb showings in the carbonate belt is intended to establish the geological controls of the mineralizing systems. Laboratory research work is aimed at establishing critical factors controlling ore deposition within each of these mineralizing systems. Fluid temperature and chemistry, and isotopic age and composition of the mineralization will be established using labs at the GSC in Calgary, University of Alberta and Laurentian University. This work will determine the number and age of mineralizing event(s) and identify which areas and which showings have the best potential for hosting large or highgrade deposits.
Project participants are: Robert Sharp, P.Geol., geological consultant from Calgary who was chief geologist at Polaris Mine for 15 years and who has 33 years of exploration experience; Dr. Elizabeth Turner, Laurentian University, brings her extensive experience with Proterozoic Paleozoic carbonates and the Nanisivik and Polaris ZnPb districts in Nunavut; Dr. Sarah Gleeson, University of Alberta, is an expert in the geochemistry of carbonatehosted ZnPb deposits and has recently completed a study of the Pine Point deposit and has also worked on Irishtype deposits; Dr. Keith Dewing, a geologist with the Geological Survey of Canada – Calgary, has recently completed a study on the Polaris ZnPbCu district in Nunavut; Luke Ootes, Metallogenist with NWT Geoscience Office in Yellowknife, will assess the regional correlation of PbZn showings in the district; and Michael Lawson will be doing an M.Sc. thesis on the geochemistry of the Gayna River deposit.
The fieldwork component of the project is expected to continue for 23 weeks, while the laboratory component will be completed in the fall.
Diamond drilling activity has recently been completed on the Rusty Springs project in the Yukon Territory. Two holes were successfully completed for a total of 1,330’ (405m) results will be released when analytical data has been received, compiled and interpreted.
Eagle Plains Resources continues to conduct research, acquisition and exploration projects in western Canada. The Company controls over 30 gold and basemetal projects, many of which with third parties including NovaGold Inc. (AMEX,TSX:NG), Amarc Resources Ltd. (a Hunter Dickinson Group Company;TSXV: ARC), Northern Continental Resources Inc. (TSXV: NCR), and Golden Cariboo Resources Inc. (TSXV: GCC). These agreements expose Eagle Plains to over $11.5 million in exploration expenditures over the next five years. 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 21,000m (70,000 ft) of drilling and over $7,000,000 in exploration spending on its projects since 1998.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
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.