News

Newmont Enters Agreement With Novagold to Explore Eagle Plains' McQuesten Gold Property, Yukon

Eagle Plains Resources Ltd. (EPL:CDNX) wishes to report that NovaGold Resources Inc. (NRI:TSE) announced today that they have entered an agreement with Newmont Exploration of Denver, Colorado to explore the McQuesten (formerly Wayne) property, located in the Keno Hill Mining District, 40 kilometers northeast of Mayo, Yukon. The property consists of 46 quartz mining claims and is accessed via the all-weather Silver Trail highway with an adjacent hydro-electric power transmission line.

Newmont Enters Agreement With Novagold to Explore Eagle Plains' McQuesten Gold Property, Yukon

Eagle Plains Resources Ltd. (EPL:CDNX) announces that it intends to complete a non-brokered flow-through private placement to arms length and non-arms-length investors. Application will be filed with the CDNX to sell up to 1.6 million shares at a price of $.25 for maximum proceeds of $400,000. The financing is anticipated to be closed by late April.

Eagle Plains signs Letter of Intent with Rio Algom Exploration on Bootleg base-metal Property, southeastern B.C.

Rio Algom Exploration Inc. has signed a Letter of Intent with Eagle Plains Resources Ltd. (EPL:CDNX) on its 100% owned Bootleg project located 1.5 km west of Kimberley, British Columbia. The property is situated just 5 km from Cominco's world-class Sullivan deposit, and is contiguous with the Sullivan crown grants.

1999 Program Completed on Eagle Plains' North Findlay Property, southeastern British Columbia

Cranbrook, B.C.:Eagle Plains Resources Ltd. (EPL:ASE) has successfully completed a $400,000 two-phase exploration program on its 100% owned North Findlay property, located 40km northwest of Kimberley, B.C.. Billiton Exploration Canada Inc. ("Billiton") may earn a 50% interest in the 208 unit (12,600 acre) property by spending $2,000,000 on exploration over four years.

1999 Program Completed on Eagle Plains' Greenland Creek Property, Southeastern British Columbia

Cranbrook, B.C.:Eagle Plains Resources Ltd. (EPL:ASE) is pleased to announce that it has received notification from optionee Kennecott Canada Exploration Inc. ("Kennecott") that it has successfully completed a $240,000 first phase exploration program on Eagle Plains' 100% owned Greenland Creek property, located 30km northwest of Kimberley, B.C..

1999 Program Completed on Eagle Plains' South Findlay Property, Southeastern British Columbia

Cranbrook, B.C.:Eagle Plains Resources Ltd. (EPL:ASE) is pleased to announce that it has received notification from optionee Rio Algom Exploration Inc. that it has successfully completed a first phase exploration program on Eagle Plains' 100% owned South Findlay property, located 35km northwest of Kimberley, B.C.. Rio Algom may earn a 60% interest in the 271 claim unit (16,460 acre) property by completing $2,000,000 in exploration expenditures and making cash payments of $310,000 to Eagle Plains over 4 years.

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.

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