Eagle Plains Resources Announces Results of Annual General Meeting
Cranbrook, B.C., 03 October, 2014: Eagle Plains Resources Ltd. (TSX-V:EPL) shareholders approved all matters put before them at the Company's annual and special general meeting held on October 2nd, 2014 as follows:
- Elected the following directors of the Company for the ensuing year: Timothy Jay Termuende, Charles C. Downie, Ronald K. Netolitzky, Glen J. Diduck, and Darren B. Fach;
- Appointed MacKay LLP as auditors of the Company for the ensuing year;
- Passed a resolution approving the renewal of the Company's Stock Option Plan;
The 2014 AGM represents a significant milestone for the Company, marking its 20th anniversary as a junior mining/exploration company. Eagle Plains remains active in the junior mining space, with ongoing projects targeting a variety of commodities located in British Columbia, Saskatchewan, Yukon, and NWT. The company remains financially stable, with $4.2M cash in its treasury and $1.9M in short-term investments. In addition, the company owns an office building, additional lands in the East Kootenay region, automobiles, field and office equipment. TerraLogic Exploration Inc., EPL’s 100%-owned subsidiary, continues to generate revenue through its mineral exploration consulting activities for third-party clients.
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 50 properties, EPL invites joint-venture participation to expedite development, reduce risk and enhance exposure to discovery.
Current third-party agreements if maintained to completion will have exposed EPL to over $35M in exploration expenditures, $3.6M cash and 12M shares in partner companies. Completed agreements have yielded over $27M in exploration spending, $1.8M cash to EPL and a total of 22M shares of partner companies.
Expenditures from 2011-2013 on Eagle Plains-related projects were approximately $15M, which was funded by Eagle Plains and for the most part, by 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.