Eagle Plains Resources Ltd fka EPL

[btrain]

July 6, 2011 News for EPL.V/'EGPLF' - Eagle Plains/Olympic Commence Drilling Program at Dragon Lake
Gold Project, Yukon


Cranbrook, British Columbia CANADA, Jul 06, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture),announces that
drilling activity has commenced on the 2,300 acre Dragon Lake project (the
"Property") located 85km northeast of Ross River, Yukon. Approximately 750m
(2500') of drilling is planned for three separate areas of the Property. The
budget for 2011 work is $400,000 and is expected to take 2-3 weeks to complete.

As announced June 20th, Eagle Plains and Olympic recently executed a formal
option agreement (subject to TSX-V approval) whereby Olympic has the exclusive
right to earn a 60% interest in the Property.To exercise the option, Olympic
must complete $3,000,000 in exploration expenditures, issue 1,000,000 common
shares and make cash payments of $500,000 to Eagle Plains over 4 years.

Property Geology and Mineralization

Mineralization on the property is associated with an elongate Tombstone Suite
intrusive which has intruded sedimentary rocks of the Hyland Group. Contact
metamorphism related to intrusion of the pluton has resulted in a distinct
alteration halo which hosts known mineralization.Work carried out by Eagle
Plains in 2010 on the Main Zone included continuous chip trench sampling which
returned 4.9 g/t gold over 6.0m, including 6.7 g/t over 4.0m (T-11) and 6.0m
grading 2.8 g/t (T-02). A grab sample of material from a 1.2m wide quartz vein
returned 19.8 g/t gold. Exploration pits dug in 2010 by Eagle Plains in areas of
anomalous soil samples from past programs returned 2.85 g/t gold and 2.25 g/t
gold, respectively.

Property History

The property was first staked in 1966 by Kennco Exploration, which completed
geological and geophysical survey work. Canamax and Welcome north carried out
additional surface work in 1983 and 1988, respectively. Eagle Plains staked the
property in 1996 and have completed 7 separate exploration programs in the
ensuing years. In 2010, Eagle Plains completed rock and soil geochemical
sampling and an airborne geophysical survey.

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), Providence
Capital Corp. (TSX-V:PV), Waterloo Resources Ltd. (TSX-V:WAT.P), Blackrock
Resources Ltd. (a private B.C. company); Heemskirk Canada Ltd., Drexel Resources
Ltd. (TSX-V), Rosedale Resources Ltd (a private B.C. company), Slater Mining
Corp (TSX-V:SLM), Olympic Resources Ltd. (TSX-V: OLA.P), Touchdown Capital Inc.
(TSX-V: TDW), Bluefire Minerals Corp (a private BC company), 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 2011 are expected to be approximately $8,000,000 to be
funded by Eagle Plains and third party partners.This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 projects at
various stages of development.

Signed,

"Tim J. Termuende"

President and CEO

For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)

Email: [e-mail] visit our website at http://www.eagleplains.com