Eagle Plains Acquires Additional Claims near Donna Gold Project, Issues Incentive Options
Eagle Plains Acquires Additional Claims near Donna Gold Project,
Issues Incentive Options
Cranbrook, B.C., March 13th, 2017: Eagle Plains Resources Ltd. (TSX-V: “EPL”) is pleased to
announce that it has successfully acquired by staki ng additional claims adjacent to the Donna Property
located in south-central British Columbia approxima tely 65 km east of Vernon. The Property, owned
100% by Eagle Plains (subject to 2.0% NSR), is a co ntiguous block of eight mineral claims covering
2,858 ha. The claims overlie two BC Minfile occurre nces named “Dona” (082LSE016) and “Barnes”
(082LSE073), and are considered to hold good potential to host skarn-related gold mineralization.
The core of the Donna property was acquired by Eagl e Plains through an agreement ALX Uranium Corp
(see EPL NR June 29, 2016), with additional tenures recently added through MTO staking. The Property
is located in the Monashee Mountains within the sou rce headwaters of the historic Kettle River and
Yeoward Creek placer gold camps. The property lies within one of the largest clusters of anomalous
values in gold and typical associated pathfinder el ements identified in the British Columbia Regional
Geochemical Surveys stream-sediment program carried out in the joint Federal - Provincial programs
from 1985 -1990. The Property is underlain by a sequence of marine sediments comprising carbonaceous
black argillite, limestone, and volcanic rocks of Permian to Lower Triassic age. Locally these rocks w ere
intruded by stocks and plugs mafic intrusive rocks.
The Dona showing was discovered in 1973 by El Paso Mining and Milling Company ("El Paso"), during
follow up of anomalous gold values generated by a r egional stream sediment sampling program.
Trenching by El Paso in 1974 in an area defined by an As-Au-Ag-Pb soil anomaly exposed numerous
narrow quartz veins which returned assays including 29.5 g/t Au and 89.4 g/t Ag over 2.29 m in Trench
4, and 122.4 g/t Au and 39.3 g/t Ag over 0.8 m in Trench 8 (Ainsworth, 2009).
Subsequent work carried out between 1975 and 2009 b y previous operators consisted of trenching, silt
sampling, extensive soil and biogeochemical surveyi ng and limited drilling. Between 2009 - 2011 ESO
Uranium (later named Alpha Minerals) conducted expl oration programs consisting of reconnaissance
stream sediment and rock geochemical surveys, and d etailed soil surveys to define targets for a total of
20 diamond drill holes. Alpha carried out the most recent work on the property in 2014 comprising an
induced polarization ("IP") geophysical survey, fol lowed by a four-hole, 492m diamond drilling
program. All four holes intersected gold mineraliza tion. The best intercept was in DDH14-21 which
returned 2 m of 8.72 grams/tonne gold. This drill c ollar is located 1.5 km west of the area of histori c
trenching and drilling, significantly expanding the area of known gold mineralization.
Technical aspects of this news release were reviewed and approved by C.C. Downie, P.Geo.
Grant of Options: Eagle Plains has recently granted incentive stock o ptions to directors, employees and
key consultants of the company for the purchase of a total of 1,650,000 shares at an exercise price of
$.30 per share, expiring March 13th, 2022. The maj ority of these options replace those which have
recently expired.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral
projects throughout western Canada. The Company is committed to steadily enhancing shareholder value
by advancing our diverse portfolio of projects towa rd 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 explora tion projects. In addition, Eagle Plains continues to
seek out and secure high-quality, unencumbered proj ects through research, staking and strategic
acquisitions. Since 2012, Eagle Plains has added t o 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 F raser Institute as the second best place in the wor ld in
terms of Investment Attractiveness. Throughout the exploration process, our mission is to help mainta in
prosperous communities by exploring for and discove ring 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 th ird-party partners. This exploration work resulted in
approximately 15,000 m of diamond-drilling and exte nsive 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.