Eagle Plains Commences Fieldwork on Kalum Gold-Silver Project; L.W. MacEachern Resigns from Board
Cranbrook, B.C., 01 June, 2004: Eagle Plains Resources Ltd. (EPL:TSX-V) has mobilized crews to commence fieldwork on the Kalum project located 30km northwest of Terrace, near the central coast of British Columbia. The claims consist of 540 units (32,000/13,500 ha) covering an area of approximately 10 km x 12 km, and are 100% owned by Eagle Plains. Fieldwork during 2004 is budgeted at over $1,000,000 and will follow up on very encouraging results obtained during 2003 fieldwork (see Sept 30, 2003 News Release). Focus will also be given to additional areas recently outlined by a 2000 line-km airborne geophysical program completed in March of this year.
The claims cover numerous high-grade gold-silver vein occurrences related to a Cretaceous-aged intrusive stock that has surface dimensions of approximately 7 x 12 km. The project is accessed by a network of logging roads and transected by a hydro-electric power-line. It is located 90 km by road from port facilities in Kitimat, or 100 km by rail from Terrace to port facilities in Prince Rupert. Extensive logging activity has taken place throughout the project area, with additional road-building and logging activity planned over the next three years.
Results from the 2003 exploration program indicate the potential for a major system or systems of high-grade Au-Ag mineralization in several areas of the property. 2004 fieldwork will consist of detailed geologic mapping in areas of known mineralization, followed by soil geochemical sampling, trenching and a 10,000’ (3000m) diamond drilling program, which is expected to commence in late August. A detailed plan map of geology, infrastructure and showing areas in PDF format may be viewed on the Eagle Plains website (www.eagleplains.ca) under the “British Columbia Properties” heading.
Preliminary fieldwork on EPL’s East Kootenay projects as announced on April 25th and May 5th has largely been completed, with analytical results pending. Detailed reports of these programs will be released after compilation, analysis and interpretation has been concluded.
The Board of Directors reports the resignation of L.W. (Lou) MacEachern, effective May 28th, 2004. Mr. MacEachern has been involved with Eagle Plains since 1999, and has made a significant contribution to the development of the Company. The Board would like to thank Lou for his service and wishes him well in his many ventures.
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 SpectrumGold Inc., Kobex Resources Ltd., Northern Continental Resources Inc., Shoshone Silver Mining Co., and Golden Cariboo Resources Inc. These agreements expose Eagle Plains to over 18 million dollars 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, NovaGold 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’ 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.