Eagle Plains Corporate Update
Cranbrook, B.C.; 26 January, 2007: Eagle Plains Resources Ltd. (EPL:TSX-V) is pleased to announce that it intends to file a Form 20-F Registration Statement with the United States Securities and Exchange Commission. Filing of the Form 20-F will require the Company to file registration statements, periodic reports, and other forms electronically through EDGAR. Form 20-F registration will provide brokers in the US the confidence that the Company is registered with the United States Securities and Exchange Commission and will enable individuals to access all of our filed documents by way of the website of the Commission which is www.sec.gov.
Eagle Plains management considers this an important step towards raising awareness of its activities to investors in the United States. Eagle Plains intends to retain A.B. Korelin and Associates of Vancouver, Washington to assist the company in writing, submitting and maintaining all required filing documents. In conjunction with this filing, Eagle Plains intends to participate in a market awareness program and has agreed to issue 75,000 share purchase options priced at $.70.
Eagle Plains also wishes to announce the appointment of Jim Ryley to the role of Exploration Manager, reporting directly to the VP Exploration. Mr. Ryley attained an Associate Degree in Petroleum Geology from the Southern Alberta Institute of Technology in 1981, followed by a BA Geology from the University of Montana in 1989. Mr. Riley brings wide range of technical experience to the company with exposure to a variety of base and precious metal projects, as well as industrial mineral, coal, and oil and gas projects. Of particular interest to the Eagle Plains is his experience in Sedex-style, carbonate-hosted and molybdenum deposits, as well as his project management experience including extensive diamond drill program supervision. The Company welcomes Jim and looks forward to using his considerable talents to continue to advance our wide range of projects. In connection with his appointment, The Company has reserved 100,000 share purchase options priced at $.70 under terms consistent with the Company’s Option Plan.
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 Alexco Resource Corp. (TSX-V:AXR), Solomon Resources Inc (TSX-V:SRB), Mulligan Capital Corp (TSX-V:MCC.P), Blind Creek Resources and Golden Cariboo Resources Inc. (TSX-V:GCC). These agreements expose Eagle Plains to over $13.5 million in exploration expenditures over the next five years. In recent years, Eagle Plains has completed option agreements with Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration, Viceroy Resource Corp. and numerous other junior exploration companies, resulting in over 38,000m (125,000’) of drilling and over $16,000,000 in exploration spending on its projects since 1998. During the 2006 season, EPL and its partners completed over 7,000m (23,000’) of diamond drilling on its properties.
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.