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Friday, 09/17/2010 10:39:28 AM

Friday, September 17, 2010 10:39:28 AM

Post# of 51
News -Sept.17- Eagle Plains Commences Drilling Program at Yellowjacket Gold Project

Cranbrook, British Columbia CANADA, Sep 17, 2010 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), has mobilized crews and equipment to commence a 2000-2500m
drilling program on its 100% owned Yellowjacket Gold Project located near Atlin,
BC.The program will consist of approximately 50 reverse-circulation ("RC") drill
holes targeting gold mineralization within the Yellowjacket Zone, within an area
targeted for future excavation and development.Additional mapping and sampling
is also being carried out in the Rock of Ages Zone, where two historic shafts
have recently been exposed during ongoing placer mining activity.A budget of
$450,000 has been set for the program which is expected to take 3-4 weeks to
complete.

The Yellowjacket Project is located 9 km east of Atlin, BC and is accessed by
all-season road. Hydro-electric power is located within 5km of property
boundaries. The project received a B.C. Mines Act permit in July, 2009 for an
open pit gold mine and onsite 400 tpd mill and concentrator, processing up to
75,000 tons per year. The Permit contemplates a 7-9 year mine life from a series
of open pits entirely within an area of disturbed placer workings. The gold is
recovered using a simple gravity concentrating recovery plant without the use of
chemicals or additives.Eagle Plains owns both mineral (hard-rock) and placer
rights within the Project area. In October 2009, Eagle Plains and Prize
announced the formal ratification of an Impact and Benefits Agreement with the
Taku River Tlingit First Nation.

The property is known to host significant gold mineralization. Gold is
erratically distributed throughout the Yellowjacket structure such that accurate
exploration and economic assessment of the property is challenged by a
pronounced "nugget effect".

C.C. (Chuck) Downie, P.Geo, VP Exploration, Eagle Plains Resources and Project
Manager for the Yellowjacket Venture states: "Going forward we need to focus on
better definition of the Yellowjacket Zone in terms of near surface grade and
tonnage through detailed chip sampling and shallow drilling. Expansion of the
east pit indicates that the mineralized zone extends into areas that have not
been tested by any diamond drilling and a better understanding of the
distribution of the nugget gold should result in more efficient grade control.
Our goal is to mine and process the near surface ore grade material, while
continuing to explore and expand the overall gold resource. We will also be
looking for potential partners to provide technical expertise and financing as
the project moves forward."

Tim Termuende, President and CEO of Eagle Plains recently stated: "The
Yellowjacket project gives EPL strong leverage on rising gold prices. By using
funds generated from the already permitted, low-cost gold production near
surface, we can avoid dilution to shareholders and continue systematic
exploration of this significant gold system with the aim of identifying a
million-plus ounce gold resource."

A detailed history of the project and photo-gallery may be found at
http://www.eagleplains.com/projects/bc/yellowjacket/

Project History

In 1983, local area prospectors staked the area of the Yellowjacket Property and
then optioned portions of the property to Canova Resources and Tri-Pacific
Resources.During 1984 and 1985 these companies conducted programs consisting of
ground geophysics, rotary- and diamond drilling.In 1986 Homestake Mineral
Development Company optioned the property from Canova and initiated programs of
mapping, reverse circulation drilling and diamond drilling.

In 1988, Homestake completed a ground geophysical program which consisted of 5.5
kilometres of magnetic and VLF-EM surveys.By 1988, Homestake Mining Company
outlined the Yellowjacket Zone; a mineralized area containing significant gold
intercepts over 2 kilometres by drilling 58 diamond drill holes to depths up to
183m.

As a result of this work, Homestake estimated an historical resource estimate of
453,500 tonnes grading 10.26 g/t gold (BC Dept Mines Open File 2000-2 page 41).
(These are historical figures and do not currently comply with NI 43-101, though
they are considered by management to be relevant and form a basis for future
exploration of the Property)

Muskox Minerals (later renamed Prize Mining Corp.) optioned the property in late
2003 and began exploration in December of that same year to further outline the
extent, nature, grade and geometry of gold mineralization at the Yellowjacket
Zone.41 holes were drilled in 2003-2004, thirteen of which encountered coarse
gold that yielded assay intercepts similar to those obtained by Homestake.Muskox
reported significant gold intersections (among others) of up to:*

* 80.3 g/t over 38.94 meters including 513.5 g/t over 5.56 metres in

drill hole YJ03-01

* 80.5 g/t over 30.83 meters including 2397 g/t over 0.91 meters in drill

hole TW05-02, a twin hole to YJ03-10

* 40.10 g/t over 6.10 metres in drill hole YJ04-07

* 142.40 g/t over 1.0 metres in drill hole YJ04-20

* 156.95 g/t over 0.5 metres in drill hole YJ04-22

(*press releases, November 15, 2004 and February 03, 2005):

In 2004, Canamera Geoscience Corp. under contract to Muskox conducted an
airborne geophysical survey over the Property. A total of 820 line kilometres of
airborne survey were flown by helicopter, using 50 metre spaced flight lines.

In 2005, Muskox/Prize performed a 50km magnetic survey which delineated three
distinct zones:Yellowjacket, Rock of Ages and Gold Run.Six holes were drilled in
the Yellowjacket Zone and 1.5 kilometres to the southwest, three holes were
drilled in the Rock of Ages Zone, for a total of 895 metres.

In 2006, Muskox/Prize commenced an exploration bulk sampling program, which
included diversion of Pine Creek, overburden/placer tailings excavation,
construction of a 400 ton-per-day milling facility, bedrock mapping and channel
sampling, bedrock excavation and processing.In 2007, Prize reported production
of 6.43 kilograms (206.9 ounces) of gold produced from sluicing the
placer-bedrock interface material excavated during bulk sample excavation.In
2008, Prize processed 4200 tonnes of material. Of this material, 2880 tonnes
were considered to be taken from the main mineralized Zone and returned gold
bars totaling 18.63 kilograms (599 ounces).About 800 kilograms of low grade gold
concentrates from 2008 remain and are estimated to contain approximately 1.5
kilograms (50 ounces) of gold.These gold volumes back-calculate, using a formula
that allows for smelting and processing plant recoveries, to a head grade of
approximately 9 g/t gold.

In 2009, Eagle Plains and Prize contracted Barry Price, P.Geo. and Linda Dandy,
P.Geo. to complete a 43-101 compliant technical reportwhich summarize
development of the property to date.The report identifies that "Based on the
results of the exploration and development conducted to date on the Property,
the authors conclude that the Yellowjacket Gold Zone represents a legitimate
development target with the potential to host an economically feasible mineral
deposit.Such potential is not quantifiable and can only be verified by
additional exploration and development work."The entire technical report may be
found on the Eagle Plains website at
http://www.eagleplains.com/projects/bc/yellowjacket/

Details of the Yellowjacket Purchase

Under the terms of the original JVA, Eagle Plains earned an initial 40% interest
in the Project from Prize by making a $2,000,000 cash payment. Since commencing
activities, Eagle Plains has advanced the JV an additional amount of
approximately $2,600,000. Prize Mining subsequently agreed to accept dilution of
its interest in the project in accordance with a formula established in the YJV
agreement.Prior to the purchase of the remaining Prize interest and dissolution
of the YJV, Eagle Plains held a 59.62% interest. The total consideration for the
purchase of Prize's remaining 40.38% interest was $400,000 plus 2,000,000 Eagle
Plains common shares. These shares are subject to escrow restrictions over a two
year period (see NR August 18th, 2010).

About Eagle Plains Resources

Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Prize Mining Corp. (TSX-V:PRZ), Windstorm Resources Inc., 0802906 BC (a private
BC Corporation); Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and
99 Capital Corp. (TSX-V:WDG). In recent years, Eagle Plains has completed option
agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR),
Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott
Exploration and numerous other junior exploration companies, resulting in over
53,600m (163,370') of drilling and over $28.3 million in exploration spending on
its projects since 1998.

Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.

Technical aspects of this news release have been reviewed and approved by C.C.
Downie, P.Geo., hereby designated as a qualified person under National
Instrument 43-101.

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

All of my posts are my own opinion. Always perform your own due diligence on every investment you are considering, or contact your licensed investment adviser.

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