Eagle Plains Completes Financing

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V) announces that it has completed a non-brokered private placement to an arms-length corporate entity, as announced February 12th, 2003. A total of $150,000 CDN was raised through the issuance of 600,000 units at $.25 CDN per unit. Units consist of a non flow-through common share and a two-year warrant to acquire an additional common share, exercisable at $.30 the first year and $.35 for the second year. The subject securities are restricted from trading for a one-year period. No finders fees or commissions were paid.

Funds generated by the financing will be used by the company for general working capital.

  • No. of shares:  600,000
  • Price:                25 cents per share
  • Warrants:         600,000 (two year exercise period- $.30 for year one, $.35 for year two)
  • Placees:            Viceroy Resource Corporation

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

 

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.