Eagle Plains Completes $350,000 Financing

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:CDNX) announces that it has closed a non-brokered flow-through private placement to arms length and non-arms-length investors. $350,000 was raised through the sale of 1.4 million common shares at a price of $.25 per share. No commission or finders fees were granted relating to the transaction. The shares will have a four month hold period expiring September 15th, 2000.

Funds generated by the financing will be used by the company to advance exploration on a number of its gold and base-metal properties in British Columbia and Yukon. With its option partners, Eagle Plains expects to see over 15,000 feet of diamond drilling completed on 4-6 individual properties during the next four months.

Eagle Plains has a 100% interest in over twenty base metal and precious metal properties in western Canada. Its properties are currently under option to Canadian and international corporations including Kennecott Canada Exploration Ltd., Rio Algom Exploration Ltd., Newmont Exploration Ltd., CanAustra Resources Ltd., and Novagold Resources Inc. Through existing agreements, the company is carried for $9,000,000 in exploration expenditures, and stands to receive $1,000,000 in cash payments. Eagle Plains is well-funded, and is aggressive in its efforts to carry out responsible, effective exploration activities throughout its theatre of operation.

On behalf of the Board of Directors

Signed

“Tim J. Termuende”
President and CEO

For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com

 

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