Eagle Plains Announces Offer to Purchase Yellowjacket Project

Eagle Plains Resources reports its offer to purchase the remaining interest in Yellowjacket project from Prize Mining Ltd.

As announced in the EPL/PRZ News Release dated February 01, 2010, the project has a current NI43-101 Technical report prepared by Barry Price, P.Geo. Based on the results of the exploration and development conducted to date on the Property, the report concludes that the Yellowjacket Gold Zone represents a legitimate development target with the potential to host an economically feasible mineral deposit. The report also states that additional zones on the Property are legitimate early stage exploration targets and recommends a tentative budget of $520,000 for the next stage of exploration. Currently the Yellowjacket Zone is open along strike in both directions and to depth. Upon formal approval of the purchase agreement by Prize Shareholders and the TSX-V, Eagle Plains intends to carry out an exploration program on the property in 2010, which will include drilling.

For complete news release, click here.