News

Eagle Plains and SpectrumGold Execute Agreement to Consolidate Galore Creek District, Eagle Plains Closes Financing

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V) and SpectrumGold Inc., a 59% owned subsidiary of NovaGold Resources Inc. (TSX: NRI) have reached an agreement whereby SpectrumGold may acquire up to an 80% interest in the Copper Canyon gold-silver-copper prospect adjoining their Galore Creek Project located in northwestern British Columbia, Canada.

Eagle Plains Announces Financing

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V) announces that it intends to complete a non-brokered private placement to directors and officers of the Company. Application will be filed with the TSX Venture Exchange (TSX-V) to sell up to 2.0 million units at a price of $.15 CDN per unit. Units will consist of a non flow-through common share and warrant, exercisable at $.30 CDN for a two-year period. Maximum gross proceeds of the offer are expected to be $300,000. No finders fees or commissions will be paid.

Eagle Plains Completes Phase One Fieldwork on Kalum Gold Project

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V) has completed fieldwork on the Company’s 100% owned Kalum project located 30km northwest of Terrace, near the central coast of British Columbia. Phase One field work consisted of property-scale geological mapping and rock-chip, soil and stream-sediment geochemical sampling. Exploration activity took place over 21⁄2 months, and saw the collection of 1,221 soil samples, 343 stream-sediment samples and 377 rock samples at a total cost of $190,000.

10,000’ Drilling Program Commences on McQuesten Gold Project

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V) announces that a 10,000’ (3,000m) 20-25 hole diamond drilling program has commenced on the McQuesten Gold project, located in the Keno Hill Mining District, 40 kilometres northeast of Mayo, Yukon. Drilling is being carried out by Novagold Resources Inc. (TSE:NRI), through its subsidiary Spectrum Gold, which holds an option to earn a 70% interest in the property from owner Eagle Plains. A 2% NSR is reserved for the underlying vendor.

Eagle Plains Commences Fieldwork on Kalum Gold Project

04 June, 2003, Eagle Plains Resources has commenced fieldwork on the company's 100-per-cent-owned 489-unit (29,700-acre) Kalum project located 30 kilometres northwest of Terrace, near the central coast of British Columbia. The claims cover a number of high-grade gold occurrences related to a Cretaceous-aged granitic intrusive stock with kilometre-scale dimensions.

New gold mineralization discovered at Abo Gold Project, 2003 work program underway

Cranbrook, B.C.: The Board of Directors of Northern Continental Resources Ltd. (NCR:TSX-V) have recently provided Eagle Plains Resources Ltd. (EPL:TSX-V) with an update on the progress of the 2003 exploration program on the Abo Gold Project, located 5 km north of Harrison Hot Springs, approximately 100 km east of Vancouver, British Columbia.

Eagle Plains Acquires Option on BC Copper-Gold Project

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V) announces the acquisition of an option to earn a 100% interest in the LCR mineral claims located approximately 40km northwest of Terrace, near the central coast of British Columbia. The claims consist of 100 units (6075 acres) covering copper occurrences related to Cretaceous-aged granitic intrusive stocks. The property is located near Eagle Plains’ 100% owned Kalum project (see news release February 20, 2002) and is accessed by a network of logging roads.

Eagle Plains Acquires Option on Yukon Gold Project

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V) announces the acquisition of an option to earn a 100% interest in the Severance mineral claims located approximately 125km northwest of Carmacks, in west-central Yukon Territory. The claims consist of 30 units (1500 acres) covering a broad gold-in-soil geochemical anomaly identified in 2002. The property is underlain by granodiorite of the Cretaceous Dawson Range Batholith, which is intruded by Tertiary quartz-feldspar porphyry dykes.

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