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.