Eagle Plains/Northern Continental Commence Drill Program on Abo Gold Project, South-Western B.C.
Cranbrook, B.C., 08 December, 2005: Eagle Plains Resources Ltd. (EPL:TSX-V) and option partner Northern Continental Resources (NCR:TSX-V) have initiated a 600m (2,000’) $100,000 diamond drilling program on the Abo Gold Project, located 5 km north of Harrison Hot Springs, approximately 100 km east of Vancouver, British Columbia. The current program is designed to follow-up on a new zone of high grade mineralization discovered during drilling activity conducted in April of this year. The mineralized zone has been traced over approximately 100m (open in all directions) along the north-western border of the Hill Stock and returned the following intersections (initially reported in a news release dated May 5th, 2005):
- Hole AB05008: 4.0m to 9.0m (5.0m) @ 2.7 g/T Au
- Hole AB05009: 137.5m to 138.3m (0.8m) @ 39.4 g/T Au, and 176.0m to 177.0m (1.0m) @ 60.9 g/T Au
- Hole AB05010: 169.0m to 181.0m (12.0m) @ 3.0 g/T Au Including 5.0m @ 6.8 g/T Au
The central area of the property consists of 76 units (1900 ha) owned 100% by EPL, and subject to an option agreement whereby NCR may earn a 60% interest in the claims by completing $3,000,000 in exploration expenditures and issuing 1,200,000 shares over 5 years. An additional 84 contiguous claim units were subsequently acquired by staking, and are held 100% by NCR. Hydroelectric power, natural gas and rail service are located within 3km of property boundaries.
The property area has been held or optioned by various operators since the early 1970’s including Abo Resources Ltd., Kerr Addison Mines Ltd. and Bema International Resources Ltd. Exploration work includes mapping, soil sampling, ground-based geophysics, 444m of underground development work and a total of 13,856m (45,448’) of diamond drilling.
The current program is being carried out under the supervision of C.C. Downie, P.Geo., (the “Qualified Person”) and is expected to take 10 days to 2 weeks to complete.
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 with third parties including NovaGold Inc. (NG:AMEX,TSX), Amarc Resources Ltd. - a Hunter Dickinson Group Company (AHR:TSX-V), Northern Continental Resources Inc. (NCR:TSX-V), and Golden Cariboo Resources Inc. (GCC:TSX-V). These agreements expose Eagle Plains to over $16.5 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 27,000m (90,000 ft) of drilling and over $8,000,000 in exploration spending on its projects since 1998. During the 2005 season alone, EPL has seen over 11,300m (37,000’) of diamond drilling on its properties.
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.