News

Eagle Plains Stakes High-Grade Zinc Occurrence in Yukon

Cranbrook, B.C.:Eagle Plains Resources Ltd. (EPL:ASE) is pleased to announce that it has completed additional staking on a high-grade zinc occurrence located 210 km north of Dawson City, Yukon. Surface occurrences were examined by Eagle Plains geologists in July of this year, and six claim units (PAMA 1-6) were staked over the mineralized showings. A staking crew was recently mobilized from Whitehorse, and secured an additional 32 units (PAMA 7-38), making the total property area approximately 1900 acres in size.

Eagle Plains Announces the Execution of a Formal Option Agreement with Billiton Exploration Canada Limited

Cranbrook, B.C.:Eagle Plains Resources Ltd. (EPL:ASE) (the "Company") is pleased to announce the execution of a formal Option Agreement with Billiton Exploration Canada Limited respecting the Company's North Findlay Property, the completion of a private placement with Billiton Metals Canada Inc. for gross proceeds of $450,000, and the completion of a first closing of a concurrent Unit private placement for gross proceeds of $281,000, all as initially announced May 20, 1999.

Eagle Plains Commences "Hit" Property Drilling Program

Cranbrook, B.C.:Eagle Plains Resources Ltd. (EPL:ASE) announces that it has commenced the second phase of a two-phase exploration program on its' 100% owned Hit property located in east-central Yukon, 210 km northeast of Ross River. The 1999 Phase 1 program consisted of trenching and geologic mapping. Results were encouraging, and warrant follow-up by diamond drilling. The phase-two drill program will consist of 1000 feet (300m) in two to four holes, and is expected to take 7 to 10 days to complete.

Eagle Plains Commences Dragon Lake Drilling Program

Cranbrook, B.C.:Eagle Plains Resources Ltd. (EPL:ASE) announces that it has commenced the second phase of a two-phase exploration program on its' 100% owned Dragon Lake property located in south-central Yukon, 85 km northeast of Ross River. The 1999 Phase 1 program consisted of trenching, geologic mapping and a magnetometer survey on the property. Results were encouraging, and warrant follow-up by diamond drilling. The phase-two drill program will consist of 1000 feet (300m) in two to four holes, and is expected to take 10 days to complete.

Eagle Plains Commences North Findlay Program

Cranbrook, B.C.:Eagle Plains Resources Ltd. (EPL:ASE) announces that it has commenced a two-phase exploration program on its' 100% owned North Findlay property located 40 kilometres north of Cominco's Sullivan base metal mine at Kimberley, B. C. Phase 1 objectives are to carry out property-wide geological mapping in conjunction with soil-geochemical sampling. Phase 2 work will consist of a 5-7 hole, 6000' (1800m) diamond drilling program, and is expected to commence in late August.

CanAustra to Drill Eagle Plains' Rusty Springs Property

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:ASE) Crews have been mobilized to an area north of Dawson City, Yukon to commence a $250,000 diamond drilling project on the Rusty Springs base-metal property, owned 100% by Eagle Plains Resources Ltd. (EPL:ASE). CanAustra Resources Ltd. (CTA:ASE) has an option to earn a 60% interest in the 541 unit (27,000 acre) property by completing $2,000,000 in exploration expenditures, and making $70,000 in cash payments to Eagle Plains over 4 years.

Eagle Plains Forms Strategic Alliance With Billiton Plc

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:ASE) announces that it has entered into an agreement with London-based Billiton Plc through its wholly owned subsidiary Billiton Exploration Canada Limited, covering claims in the Findlay Creek area located 45 km north of the Sullivan Mine in southeastern B.C., Canada. This area is considered highly prospective for the discovery of new zinc sedex deposits located within the Proterozoic Aldridge Formation. The Sullivan deposit, owned by Cominco Ltd.

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