Eagle Plain’s Partner Aben Resources Suspends Drilling Program at the Chico Gold Project, Saskatchewan
Eagle Plain’s Partner Aben Resources Suspends Drilling Program
at the Chico Gold Project, Saskatchewan
Cranbrook, B.C., March 23, 2018: Eagle Plains Resources Ltd. (TSX-V: “EPL”) (the “Company”)
announces the suspension of the planned and permitted Chico drill program in Saskatchewan as a result
of a request by the citizens of the community of Pelican Narrows and members of the Peter Ball antyne
Cree Nation (“PBCN”). Details of the intended program were previously announced in a news release
dated March 1st, 2018.
Eagle Plains as optionor and project operator informed partner Aben Resources Ltd. (TSX-
V:ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) of this request after a M arch 2 1, 2018 community
meeting was convened in Pelican Narrows, attended by local stakeholders and Eagle Plains management.
Following the meeting a decision was made by Aben and Eagle Plains to suspend the program. Aben
may revisit plans to explore the property in the future , following meaningful consultation with the
community and PBCN members. Government permits to undertake the proposed drilling program were
issued on Feb. 28, 2018 by the Saskatchewan Ministry of Energy.
Aben holds the exclusive right to earn an undivided 80 -per-cent interest in the property by completing
$3.5-million in exploration expenditures, issuing 2.5 million shares and making $150,000 in cash
payments to Eagle Plains Resources (TSX -V: EPL) by 2020. Aben recently made a ca sh payment of
$25,000 and issued 250,000 common shares to Eagle Plains, pursuant to the terms of the current option
agreement.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore minera l
projects throughout western Canada. The Company is committed to steadily enhancing shareholder value
by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and
development of a highly experienced technical team . Managements’ current focus is to preserve its
treasury while advancing its most promising exploration projects. In addition, Eagle Plains continues to
seek out and secure high -quality, unencumbered projects through research, staking and strategic
acquisitions. Since 2012, Eagle Plains has added to its portfolio a number of new projects exceeding
130,000 ha targeting mainly gold, uranium and base-metals in Saskatchewan, a highly-prospective mining
jurisdiction which was recently recognized by the Fraser Institute as the second best place in the world in
terms of Investment Attractiveness . Throughout the exploration process, our mission is to help maintain
prosperous communities by exploring for and discovering resource opportunities while building lasting
relationships through honest and respectful business practices.
Expenditures from 2011 -2016 on Eagle Plains -related projects were approximately $16.0M, which was
funded by Eagle Plains and for the most part , by third -party partners. This exploration work resulted in
approximately 15,000 m of diamond-drilling and extensive ground-based exploration work facilitating the
advancement of numerous projects at various stages of development.
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: [email protected] 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.