CGC Inc to Commence Drilling on Eagle Plains’ Coyote Creek Property
Cranbrook, B.C., 28 May, 2007: Crews and equipment have been mobilized to the Coyote Creek gypsum project located in the Coyote Creek/Lussier River area 50km NE of Cranbrook, BC. As announced October 19th, 2006, CGC Inc. has agreed to purchase a 100% interest in the property, and is in the process of completing their due diligence work. The transaction is expected to close on October 2nd, 2007.
The property consists of 1300 hectares acquired by Eagle Plains in 2001 by staking, and holds no underlying royalties or encumbrances. The property is road-accessible with hydro-electric power and rail transportation located 24 km by existing road from property boundaries. The claims cover numerous gypsum occurrences hosted within the Burnais Formation.
In late fall, 2006, CGC carried out a 3,642 ft (1,110m), 24 hole program on the property, confirming the presence of high-quality gypsum material over significant widths. The 2007 drill program will be a continuation of this work. The current drill program is expected to take 10 days to 2 weeks to complete, and will consist of approximately 2,500 feet (762m) in 15-20 holes. The program will be funded by CGC and operated by Eagle Plains. Aggressive Diamond Drilling Ltd. of Kelowna, B.C. is the drilling contractor. Project Supervision will be the responsibility of Jim Ryley, P.Geo.- Exploration Manager of Eagle Plains.
This news release has been reviewed and approved by Tim J. Termuende, P.Geo., hereby designated as a “Qualified Person” under National Instrument 43-101.
Eagle Plains Resources continues to conduct research, acquire and explore metal projects in western Canada. The Company controls over 35 gold, base-metal and uranium projects, many with third parties including Alexco Resource Corp. (TSX-V:AXR), Wellstar Energy Corp. (TSX-V:WST), Blue Sky Uranium Corp. (TSX-V:BSK), Blind Creek Resources and Golden Cariboo Resources Inc. (TSX-V:GCC). These agreements expose Eagle Plains to over $18.0 million in exploration expenditures over the next five years. In recent years, Eagle Plains has completed option agreements with Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration, Viceroy Resource Corp. and numerous other junior exploration companies, resulting in over 38,000m (125,000’) of drilling and over $16,000,000 in exploration spending on its projects since 1998. During the 2006 season, EPL and its partners completed over 7,000m (23,000’) 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.