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Cranbrook, B.C.,
09 May, 2007: Eagle Plains Resources Ltd.
(EPL:TSX-V) has acquired by
staking a 100% interest in the FIN group of
mineral claims located 135km south of Ross River, Yukon. The
property consists of 108 claims covering an area of some 22
square kilometers located within 12km of the Robert Campbell
Highway.
The claims cover a
Sedex-style mineralized system explored by past operators from
1978 to 1996. Mineralization consists of numerous lenses of
massive sulphide material reported over a strike length of
1.1km, hosted by sediments of the Devono-Mississippian Earn
Group.
Previous work
consisted of stream-sediment sampling, geological mapping,
soil geochemical sampling, geophysical surveys, and limited
Diamond drilling. The best reported drill intercept was 12.55%
zinc and 33 g/T silver over 1.2m.
Eagle Plains plans
to complete a compilation of all existing data, followed by
systematic exploration of the property area.
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), Wellstar
Energy Corp. (TSX-V:WST),
Blue Sky Uranium Corp. (TSX-V:BSK),
Blind Creek Resources and Golden
Cariboo Resources Inc. (TSX-V:GCC).
These agreements expose Eagle Plains to over $18.0 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
Signed
“Tim J.
Termuende”
President and CEO
For further information, please
contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit
our website at http://www.eagleplains.com
The TSX Venture
Exchange has not reviewed and does not accept 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. |