Eagle Plains Resources Ltd fka EPL

[btrain]

Tuesday, Feb 15, 2011 News for 'EPL.V/EGPLF.PK' - Eagle Plains/Providence Add Second Drill Rig to Iron Range
Project and Provide Update on Current Drill Program


Cranbrook, British Columbia CANADA, Feb 15, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), and ProvidenceResources Corp. (TSX-V:PV)have completed 5
additional diamond drill holes since the re-commencement of drilling on the Iron
Range project in January 2011,for a total of 15 drill holes and 7,165m (23,500')
of drilling to date. The 2011 holes (IR11-011 to 015), have been systematically
testing the Talon Zone in which significant gold and base-metal mineralization
was reported in Hole IR10-010 by Eagle Plains/Providence (see news release Dec
21, 2010). All 5 holes completed during the 2011 program have intersected base
metal and gold-related mineralization.

Highlights from Hole IR10-010 included 14.0m grading 5.1g/t gold and 75.3g/t
silver from 192.0 to 206.0m and 8.5m grading 6.0g/t gold and 47.8g/t silver from
272.0 to 280.5m.Accompanying base metal values include 13.24% combined lead-zinc
over 1.6m from 196.9-198.5m, and 9.24% combined lead-zinc over 2.0m from
277.5-279.5m, the latter of which is interpreted to lie at Sullivan Time.

A total of 450m of new road has been constructed and a second drill will
commence work immediately.The budget for the winter 2011 program is currently
$1.6M, and is planned to consist of 12-16 holes for a estimated 5,000m (16,000')
of drilling. The receipt of permits and construction of new roads will give the
partners the ability to utilize step-out drill pad locations, and if warranted,
work towards definition of an inferred resource. Additional staff have been
added to the project to assist in core-logging and sampling operations.
Analytical results will be forthcoming as they are received, compiled and
interpreted.

Additional drill targets within a 2.5km radius will continue to test structural
features and geochemical signatures for Sullivan-style SEDEX and precious metal
mineralization.

The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. Providence holds the option to earn a 60% interest in
the Property by spending $3,000,000 on exploration, making $500,000 in cash
payments and issuing 1,000,000 shares to EPL over 4 years. As announced on
November 2nd, an additional 35,800 ha of claims were added to the existing land
package, resulting in a total of 56,200 ha - an area approximately 11km x 50km.

Iron Range Project Summary

The Iron Range property consists of 56,200 hectares. The claims are
well-situated with respect to infrastructure with a high-pressure gas pipeline,
high-voltage hydroelectric line, railway and major highway all located within
property boundaries.

The Iron Mountain structure has been mapped with widths of up to 150m and a
strike length of over 50km.Claims held by Eagle Plains cover over 30km of the
structure, with significant iron-oxide mineralization occurring over 15km.Copper
and gold mineralization have been discovered along the structure, highlighting
the potential for iron-oxide copper-gold ("IOCG") mineralized systems associated
with the structure.The claims also overlie rocks of the Aldridge Formation,
including the same stratigraphic time horizon which hosts the world-class
Sullivan Deposit located 70km to the northeast.Over its 100 year lifetime,
Sullivan produced approximately 150,000,000 tonnes of ore including 300,000,000
ounces of silver, 8,000,000 tonnes of zinc and 8,000,000 tonnes of lead,
collectively worth over $25 billion at current metal prices.The parties caution
that past results or discoveries on proximate land are not necessarily
indicative of the results that may be achieved on the Iron Range property.

A map outlining pertinent details of the property may be found at:


http://www.eagleplains.ca/projects/bc/ironrange/documents/iron_range_compilation_map.pdf

Property History

The Iron Range deposits were originally staked in 1897 and were covered by Crown
Grants held by Cominco Ltd. and the Canadian Pacific Railway.Past work on the
Iron Range deposits by Cominco focused on the considerable iron oxide resource
with trenching and very shallow (20m depth) diamond drilling along the Iron
Range Mountain ridge.Eagle Plains staked the current claims immediately after
the Crown Grants reverted in 2000 and have been exploring the property since
then. Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690 line-km airborne geophysical survey.

Drill programs were carried out by Eagle Plains in 2005 and 2008. Swift
Resources optioned the property in late 2009 and completed a total of 580 m of
drilling in 7 holes. One hole was drilled in close proximity to IR 08006 and
returned 1.0m grading 7.53 g/t gold. (see EPL news release dated March 5th,
2010). Swift subsequently relinquished their option on the property.

Fieldwork on the Iron Range property is being carried out under the supervision
of geologist J.K. Ryley. C.C. Downie, P.Geo. is hereby identified as the overall
project supervisor. Technical aspects of this news release have been reviewed
and approved by T.J. Termuende, P.Geo., hereby designated as a qualified person
under National Instrument 43-101.

About Providence Resources

Providence Resources Corp. is a junior mining exploration company focused on
delivering shareholder value through project acquisition and
development.Currently the company is focused on its Iron Range Project in
British Colombia, Canada.

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 Aben Resources Ltd. (TSX-V:ABN), Excelsior
Mining Corp (TSX:MIN.P), Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals
and Energy Ltd. (TSX-V:SND), Providence Resources Corp., Waterloo Resources Ltd.
(TSX-V:WAT.P), Windstorm Resources Inc., Blackrock Resources Ltd. (a private
B.C. company); Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW),
Active Growth Capital (TSX-V:ACK) and Giyani Gold 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.

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: [e-mail]

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

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