Eagle Plains Resources Ltd fka EPL

[btrain]

Nov 1, 2011 - Eagle Plains and Gold Royalties Corporation Execute Agreement on Blende NSR

Cranbrook, British Columbia CANADA, Nov 01, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink)

The Board of Directors of Eagle Plains Resources Ltd. (the "Company" or "Eagle
Plains") announces that it has executed an agreement with Gold Royalties
Corporation, whereby Gold Royalties Corporation has purchased the 2% Net Smelter
Royalty ("NSR") currently held by Eagle Plains relating to any future production
at the Blende Property, located in central Yukon approximately 65km NE of Keno.
The total consideration for this purchase is CDN$1,000,000.

Blind Creek Resources acquired an option on the property in August, 2005. In
2009, Blind Creek completed earn-in requirements to exercise the option and
acquired a 60% interest in the property by completing a total of $5,000,000 in
exploration expenditures, paying $175,000 in cash and issuing 1,000,000 common
shares to Eagle Plains and an underlying interest holder. Later in 2009, Blind
Creek purchased the remaining 40% interest from Eagle Plains by issuing an
additional 4,500,000 voting-class common shares.

About Eagle Plains Resources

Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.

Current third party agreements, if maintained to completion, expose EPL to over
$50M in exploration expenditures, $5.7M cash and 13M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.

Expenditures during 2011 on Eagle Plains-related projects are expected to be
approximately $8,000,000, to be funded by Eagle Plains and third party partners.
This exploration work is expected to 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] 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.

To view this release as a web page, please click on the following link:

http://www.usetdas.com/pr/eagle11012011.htm

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

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