Eagle Plains Announces Stornoway Participation in Orchid Property Agreement

Cranbrook, British Columbia (FSCwire) - Eagle Plains Resources Ltd. (EPL:TSX-V) is pleased to announce that Stornoway Diamonds Corp (T.SWY) has exercised its right to participate in the Orchid option agreement between Eagle Plains and North Arrow Minerals Inc. (NAR:TSV-V). North Arrow and Stornoway will finance exploration according to their respective earn in terms under a pre-existing joint-venture agreement. As announced on September 25, 2014, North Arrow and Stornoway can earn a 70-per-cent undivided interest in the diamond rights on Eagle Plains' 100-per-cent-owned Orchid property (the “Property”), located in east-central Saskatchewan, approximately 140 km east of LaRonge and 15 km east of North Arrow’s Pikoo diamond discovery.  See map here: http://www.eagleplains.com/projects/sask/images/Orchid_North_Arrow_NR_Map.pdf  by funding exploration and evaluation of the Property to a discovery within a three year period. Eagle Plains will maintain a 100% interest in any non-diamondiferous materials on the property, and will continue to hold 100% interest in the titles themselves. 

2014 work carried out by North Arrow included the collection of three till samples on the Orchid property and an additional 7 till samples on properties immediately adjacent to the Orchid. The samples are being processed at Microlithics Laboratories Inc. of Thunder Bay, Ontario for kimberlite mineral indicators.

Management cautions mineralization present on proximal properties is not necessarily indicative of mineralization on the Orchid Property.

The Orchid property was acquired by Eagle Plains through the Saskatchewan MARS on-line tenure system after it was identified as covering a series of significant gold occurrences related to the regional scale Tabbernor fault complex. The Orchid claims include seven documented SMDI gold and base-metal mineral occurrences associated with highly deformed and metamorphosed mafic volcanics and tonalitic intrusions within the 200 to 1500 m wide Tabbernor Strain Zone. The gold mineralization is found in pyritic quartz veins and is typically associated with copper, lead and zinc.

The Orchid has seen extensive historical work including geological mapping, prospecting, soil sampling, trenching and ground-based geophysics with the last significant work programs reported in 1995. The Property has seen only a single drill hole which was completed in the Tim’s Au Zone area and returned 1.3 g/t Au over two separate 0.5 meter intervals. Results from historical work on the Orchid mineral occurrences include:

SMDI 2646 Orchid Zone