Cranbrook, B.C., 10 October, 2007: Eagle Plains Resources Ltd. (EPL:TSX-V) announces that it has executed a formal option/purchase agreement with Alexco Resource Corp (AXR:TSX; AXU:AMEX) whereby Eagle Plains has granted Alexco an option to purchase Eagle Plains’ 30% interest in the McQuesten Joint Venture (currently held 70/30% by Alexco and Eagle Plains). The property is located approximately 40km north of Mayo, within the Keno Hill Mining District.