News

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.

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.

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.

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.