Eagle Plains/Northern Continental Commence Diamond Drilling on Elsiar (LCR) Project, WestCentral B.C.
Cranbrook, B.C., 12 July, 2005: Eagle Plains Resources Ltd. (TSXV: EPL) and Northern Continental Resources Ltd. (TSXV: NCR) have commenced diamond drilling activity on the Elsiar (LCR) project, located 40 km northwest of Terrace, B.C., and 2km north of EPL’s Kalum project. The 5650 ha property is controlled 100% by Eagle Plains (subject to a 1% NSR), and is under option to Northern Continental, who may earn a 60% interest in the property (see NR Jan 15, 2004). Up to 10 holes are planned for the property, for a total of 10,000’ (3000m).
The property was originally acquired by due to the presence of a strong multielement geochemical signature in stream sediments and similar geology / geophysics to the nearby Kalum property. In addition to highgrade gold targets, preliminary exploration work completed in 2004 suggests that the project area also has the potential to host a coppermolybdenum porphyry system. The property boasts an excellent infrastructure including logging roads, hydroelectric power lines and close proximity to rail and deepwater international ports in Kitimat and Prince Rupert.
The claims cover a number of intrusive plugs, sills and dykes hosted in sediments of the Bowser Basin. These intrusive rocks contain widespread sulphide mineralization including chalcopyrite (copper) alteration haloes. Initial exploration on the property completed in 2004 included a 500 linekm geophysical survey which proved useful for mapping intrusive bodies and their magnetic alteration haloes. Geochemical surveys delineated a strong CuMo soil geochemical anomaly some 800m x 800m in area, coincident with a prominent magnetic geophysical anomaly. Prospecting and geologic mapping resulted in the discovery of the Shae coppergold occurrence. Encouraging 2004 results justified an aggressive exploration program for 2005, with an available budget of over $800,000. The 2005 field program will be carried out under the supervision of C.C. Downie, P.Geo., identified as a “Qualified Person” under National Instrument 43101.
Diamond drilling has recently been completed on the Sphinx project in southeastern British Columbia. 14 holes were completed for a total of 10,921’ (3,330m). 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: AHR), 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 26,000m (85,000 ft) of drilling and over $7,500,000 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.