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Thursday, 01/06/2011 1:06:45 PM

Thursday, January 06, 2011 1:06:45 PM

Post# of 51
News Jan. 6, 2010 - News for EPL.V/EGPLF.PK - (Eagle Plains Provides Analytical Results from Reverse
Circulation Drill Program at Yellowjacket Project, Northwestern BC)


Cranbrook, British Columbia CANADA, Jan 06, 2011
(Filing Services Canada via COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF - OTCBB_Pink_Sheets), has received complete analytical results for the 2010 reverse circulation drill program at the Yellowjacket project.

In the fall of 2010, Eagle Plains conducted a 64-hole drill program at the Yellowjacket property using a reverse circulation ("RC") drill rig.A total of 2181meters in 64 holes was completed over a 30 day period. The drilling consisted of a series of shallow, closely spaced angle holes designed to delineate mineralization and structural controls and to test an area designated for the next open pit mining phase.

RC Drill Highlights:

* L100E-60B:

* 10.19-16.28m : 6.09m @ 26.8 g/t Au

* Including 13.23-15.27m: 2.04m @ 78.71g/t Au

* Also Including 14.25-15.27m: 1.02m @ 138.26g/t Au

* L077E-48A:

* 27.68-38.85m : 11.17m @ 5.83g/t Au

* Including 27.68-29.71m: 2.03m @ 6.02g/t Au

* Also Including 27.68-28.69m: 1.01m @ 10.53g/t Au

* Including 36.82-38.85m: 2.03m @ 25.12g/t Au

* Also Including 37.84-38.85m: 1.01m @ 46.63g/t Au

* L076E-18A:

* 8.07-16.81m : 8.74m @ 7.73 g/t Au

* Including 12.75-14.78m: 2.03m @ 30.48g/t Au

*intervals interpreted to approximate true thickness

Detailed Description of Drilling

The 2010 drill program targeted an area directly east of the 2009 pit extension.
The tight-spaced drill grid was designed to test the projected pit to a bedrock
depth of 25 meters. The data from the program will be used to build geologic
models for pit design and grade control. The area of the Pine Creek fault zone
that was drilled defined a wedge-shaped package of volcanics (andesites and
lamprophyres) sandwiched within carbonate-altered ultramafics, and bounded below
by a major fault zone.

Two main gold bearing zones were identified. Gold mineralization is associated
with quartz stockwork and intense Fe-carbonate alteration within the ultramafic
rocks and within quartz-stockwork associated with silicified and pyritic
volcanic rocks.

Chuck Downie, P.Geo VP Exploration states that "we are encouraged by the
presence of two relatively continuous, near surface mineralized gold zones
within the area of the next pit. The tight-spaced drilling will give us a very
detailed geologic model which will greatly enhance the effectiveness of grade
control during our mining operation".





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Table of Selected 2010 Drill Results

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HoleOrderFrom_MTo_MIntersection

Number

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L064E-42A 25.64 28.693.05m at 21.24g/t Au

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L064E-42A Including 26.66 27.681.02m at 48.21g/t Au

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L066E-24A 21.38 24.423.04m at 10.39g/t Au

-------------------------------------------------------------------------

33.57 34.58 1.01m at 5.69g/t Au

-------------------------------------------------------------------------

L070E-24A 25.64 26.66 1.02m at 7.44g/t Au

-------------------------------------------------------------------------

L070E-30A 20.8729 8.13m at 4.91g/t Au

-------------------------------------------------------------------------

Including 27.9829 1.02m at 31.4g/t Au

-------------------------------------------------------------------------

L073E-54A 31.3932.4 1.01m at 3.33g/t Au

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L076E-18A8.07 16.81 8.74m at 7.73g/t Au

-------------------------------------------------------------------------

Including 12.75 14.782.03m at 30.48g/t Au

-------------------------------------------------------------------------

L076E-24A 18.84 20.87 2.03m at 5.79g/t Au

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L076E-54A 41.69 42.71 1.02m at 5.22g/t Au

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L077E-42A 33.63 36.67 3.04m at 3.74g/t Au

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L077E-48A 27.68 38.8511.17m at 5.83g/t Au

-------------------------------------------------------------------------

Including 27.68 29.71 2.03m at 6.02g/t Au

-------------------------------------------------------------------------

Also Including 27.68 28.691.01m at 10.53g/t Au

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Including 36.82 38.852.03m at 25.12g/t Au

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Also Including 37.84 38.851.01m at 46.63g/t Au

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L082E-30A 20.42 21.441.02m at 10.26g/t Au

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L082E-36A 23.26 25.292.03m at 4.2g/t Au

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L088E-18A 12.23 13.25 1.02m at 3.22g/t Au

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L088E-30A 18.79 19.81 1.02m at 3.01g/t Au

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L088E-42A 22.29 23.31 1.02m at 6.58g/t Au

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L088E-64A 8.19.11 1.01m at 3.48g/t Au

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30.45 31.46 1.01m at 2.89g/t Au

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L088E-64B5.92 13.03 7.11m at 2.25g/t Au

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Including6.937.95 1.02m at 8.42g/t Au

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L094E-24A 12.29 13.31 1.02m at 3.25g/t Au

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L094E-30A 14.53 15.54 1.01m at 9.45g/t Au

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L094E-36A 10.1911.2 1.01m at 11.8g/t Au

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L100E-24A8.33 10.362.03m at 12.11g/t Au

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L100E-48A 17.63 22.71 5.08m at 3.05g/t Au

-------------------------------------------------------------------------

Including 18.64 19.66 1.02m at 7.74g/t Au

-------------------------------------------------------------------------

L100E-60B 10.19 16.28 6.09m at 26.8g/t Au

-------------------------------------------------------------------------

Including 13.23 15.272.04m at 78.71g/t Au

-------------------------------------------------------------------------

Also Including 14.25 15.27 1.02m at 138.26g/t Au

-------------------------------------------------------------------------

L106E-56A 11.14 12.161.02m at 8.8g/t Au

-------------------------------------------------------------------------



The drilling was oriented perpendicular to the known structural trends and it is
believed that most of the drill intercepts represent true widths of the
mineralized zones.

A detailed history of the project, including complete 2010 drill results and
locations, and a photo-gallery may be found at
http://www.eagleplains.com/projects/bc/yellowjacket/index.asp

Analytical Details and QAQC

Sampling started at the surface with the overlying placer material and the
bedrock / placer interface sampled separately from the bedrock. Bedrock cuttings
were sampled continuously over 1.016m intervals.In total, 1590 bedrock samples
and 171 placer material samples were sent to Stewart Group of Kamloops, BC, an
ISO17025 accredited analytical facility,for Au-4 500g Screen Metallic Assay.

QAQC: External QAQC samples, consisting of blanks, Au standards, and sample
duplicates, were routinely introduced into the sample chain of custody. A total
of 188 check samples were also sent to ALS-Chemex of Vancouver, BC for check
analysis via 500g Screen Metallic Assay. Statistical analysis of the QAQC and
check data for Au data was completed and the results are consistent with all
analytic procedures completed by Stuart Group being well within acceptable
parameters.

Geological exploration contracting services on the Yellowjacket property during
2010 were provided by TerraLogic Exploration of Cranbrook, B.C., (a wholly-owned
subsidiary of Eagle Plains), Merlin Geosciences Inc. of Atlin, BC and the Atlin
Tlingit Development Corporation. Reverse circulation drilling was contracted to
Northspan Exploration of Kelowna, B.C.

Overall project supervision was done by C.C. Downie, P.Geo., hereby designated
as a qualified person under National Instrument 43-101 and who also reviewed and
approved technical aspects of this news release.

Yellowjacket Project Summary

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 ton per day 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. Since
the recent completion of the buy-out from Prize, Eagle Plains owns a 100%
interest in both mineral (hard-rock) and placer rights within the project area.
(see EPL news release August 19th, 2010). 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 structural zone such that
accurate exploration and economic assessment of the property is challenged by a
pronounced "nugget effect".

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 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 of which gold was intercepted to 140m depth.

As a result of this work, Homestake estimated an historical resource estimate of
453,500 tonnes grading 10.26 grams per tonne 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 Corp. (renamed Prize Mining Corporation) 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 grams per tonne over 38.94 meters including 513.5 grams per tonne over
5.56 metres in drill hole YJ03-01

80.5 grams per tonne over 30.83 meters including 2397 grams per tonne over
0.91 meters in drill hole TW05-02, a twin hole to YJ03-10

40.10 grams per tonne over 6.10 metres in drill hole YJ04-07

142.40 grams per tonne over 1.0 metres in drill hole YJ04-20

156.95 grams per tonne 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
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 report which 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."

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), Drexel
Capital Corp (TSX-V:DX.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), Windstorm Resources Inc., 0802906BC Ltd. (a private B.C.
company); Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW), Active
Growth Capital (TSX-V:ACK) 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.

Signed,

"C.C. (Chuck) Downie"

VP Exploration

For further information on EPL, please contact:

Mike Labach at 1 866 HUNT ORE (486 8673)

Email: mgl@eagleplains.com

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.

Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca

Maximum News Dissemination by Filing Services Canada Inc. *

www.usetdas.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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