Eagle Plains and Golden Cariboo Amend "Bar" Option Agreement

British Columbia |

Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:CDNX) announces that it has amended an agreement with Golden Cariboo Resources Ltd. ("Cariboo"), whereby Cariboo may obtain an option to purchase a 100% interest (less 2% NSR reserved for EPL) in the "Bar" mineral claims located 18km SW of Barkerville, in central British Columbia. Original terms of the agreement included Caribou completing $1,000,000 in exploration expenditures, making cash payments to EPL of $100,000 over four years and issuing EPL 100,000 voting-class common shares of Caribou. Under the amended agreement, Cariboo will complete $900,000 in exploration expenditures, make cash payments to EPL of $100,000 by December 31st, 2004 and upon CDNX approval, issue EPL a total of 200,000 voting-class common shares of Caribou.

The Bar property consists of 26 units (1580 acres) located within the "Wells trend", a belt of rocks which has seen intensive exploration recently by Golden Cariboo/ International Wayside Gold Ltd. The property is considered to hold good potential for hosting "Bonanza Ledge"-type gold mineralization similar to that recently discovered by Wayside near Barkerville. Originally staked in 1992, the property was actively explored by Miner River Resources in 1994-1995, with ownership transferred to Eagle Plains when the two companies merged in 1999.

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.