Eagle Plains Joins Mineral Deposit Research Unit of UBC
Cranbrook, B.C., May 23rd, 2013: Eagle Plains Resources Ltd. (EPL:TSX-V) announces that it has recently joined the Mineral Deposit Research Unit (“MDRU”) of the University of British Columbia, a collaborative venture between the mining industry and The University of British Columbia (UBC). The unit, which was established in 1989 with support and financial assistance from the mining industry and the Natural Sciences and Engineering Research Council of Canada (NSERC), is an important part of the Department of Earth and Ocean Sciences and an internationally recognized research group devoted to solving mineral exploration-related problems. Current corporate members include Agnico-Eagle Mines Ltd., BHP Billiton Ltd., Freeport McMoRan Exploration Corp. and numerous exploration-focused junior mining companies.
Eagle Plains continues to support research initiatives at Canadian universities and looks forward to working with MDRU and others so that the knowledge and information generated from these research efforts will support Eagle Plains’ ability to make more informed exploration decisions. EPL has a history of participating in industry-academic partnerships, working with the University of New Brunswick, University of Alberta and Simon Fraser University to support graduate studies focused on a number of EPL’s diverse exploration projects.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. Since 1992, EPL has been acquiring and developing early stage projects utilizing an in-house team of geologists, technicians and specialists. Considered a prolific project generator with over 35 properties, EPL invites joint venture participation to expedite development, reduce risk and enhance exposure to discovery.
Current third party agreements if maintained to completion expose EPL to over $50M in exploration expenditures, $6M cash and 14M shares in partner companies. Completed agreements have yielded over $17M in exploration spending, $1.8M cash to EPL and a total of 18M shares of partner companies including Alexco Resource Corp., NovaGold Resources Inc., Giyani Gold Corp. and numerous others.
Expenditures during 2011 and 2012 on Eagle Plains-related projects were approximately $14M, which was funded by Eagle Plains and third-party partners. This exploration work resulted in approximately 15,000m of diamond drilling and extensive ground-based exploration work facilitating the advancement of more than 23 projects at various stages of development.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
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.