Diamond Drilling to Commence Immediately on Abo (Harrison Gold) Project

British Columbia |

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V) announces that it intends to complete a non-brokered private placement with an arms-length corporate entity. Application will be filed with the TSX Venture Exchange (TSX-V) to sell up to 600,000 units at a price of $.25 CDN per unit. Units will consist of a non flow-through common share and two-year warrant, exercisable at $.30 CDN for a one-year period and $.35 for a second year. Maximum gross proceeds of the offer are expected to be $150,000. No finders fees or commissions will be paid. The financing is anticipated to close by the end of February.

Funds generated by the financing will be used by the company for general working capital.

On behalf of the Board of Directors


“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

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.