Eagle Plains / Blue Sky to Drill Saskatchewan Uranium Projects
Cranbrook, B.C., February 27th, 2008: Eagle Plains Resources (TSX-V:EPL) and Blue Sky Uranium Corp. (BSK-TSX.V) are pleased to announce that crews have been mobilized to the Karin Lake uranium property in the Athabasca Region of Saskatchewan, Canada. The 1,500 metre diamond drill program will test the Craig Bay mineral showing, along portions of a strong EM-conductor identified during the 2006 GEOTEM airborne survey.
The EM conductor coincides with a >2 kilometer long pronounced topographic lineament that is associated with yellow and red stained mineralized boulders that have returned historical values up to 0.93% U3O8 (see Karin Lake 43-101 and AR 74A14-0011). Recent mapping, sampling and radon and scintillometer surveys along this lineament by EPL geologists have revealed an extensive anomalous outcrop area, which returned sample values of up to 0.18% U3O8.
The claims lie 30 kilometres south of the edge of the Athabasca Formation, and are underlain by basement rocks of the Wollaston Domain comprised of Aphebian metasedimentary gneisses and schists, including pelitic schists and gneisses with graphitic horizons. The Craig Bay mineral showing is located along the southeast margin of a 27 kilometer long conductive EM anomaly ring feature, entirely within the Karin Lake property claim area. At least two other uranium mineral occurrences along this ring feature have seen historical drilling which proved graphite dominant horizons to explain the EM-conductor. The focus will be to explore for uranium deposits along the ring EM-conductive feature at intersections with north to northwest-trending faults which are interpreted to have formed structural traps where uranium mineralization may have been preserved.
Blue Sky is earning a 60% interest in the Eagle Lake/Karin Lake projects that cover 69,000 hectares and are located approximately 35 km east of Cameco's Key Lake mining operation in north-central Saskatchewan, Canada. The 2008 drilling program will be under the direction of EPL Chief Geologist Jarrod Brown, P.Geo.
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 Teck Cominco Ltd. (TSE:TCK), Alexco Resource Corp. (TSX-V:AXR), Wellstar Energy Corp. (TSX-V:WST), Sandstorm Resources Ltd. (TSX-V:SSL.P), Mountain Capital Inc (TSX-V:MCI.P), Blue Sky Uranium Corp. (TSX-V:BSK) and XO Gold Resources Ltd. These agreements expose Eagle Plains to over $27.0 million in exploration expenditures over a five year period. In recent years, Eagle Plains has completed option agreements with Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior exploration companies, resulting in over 47,000m (154,200’) of drilling and over $21,000,000 in exploration spending on its projects since 1998. During the 2007 season, EPL and its partners completed over 9,000m (29,500’) of diamond drilling on its properties.
This news release has been reviewed and approved by C.C. (Chuck) Downie, P.Geo., hereby designated as a “Qualified Person” under National Instrument 43-101.
On behalf of the Board of Directors
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