Eagle Plains Announces Drill Results from Black Diamond Project, South-eastern British Columbia

Eagle Plains Resources Ltd. (EPL:TSX-V) announces drill resultsfrom its 100% owned, road-accessible 3,554 ha Black Diamond
project located 35km west of Invermere, B.C. Two holes were drilled on
the property in 2012 for a total of 430m, testing the Black Diamond Zone
down-dip and along strike to the west.

Highlights

• 
  Hole BD12-01 intersected 2.83m grading 4.34% lead, 5.13% zinc and
  111.1g/t silver from 170.43m to 173.26m, with true thickness
  calculated to be 1.58m.
  
• 
  Entire mineralized interval returned 3.98 % combined lead-zinc and
  49.3 g/t silver over 17.37m (true thickness 9.8m), from 164.46m to
  181.83m
  
• 
  Additional claims staked subsequent to drilling, with the resultant
  land package containing a 12km-long mineralized structural corridor
  

Black Diamond Summary

The property contains a prominent structure which hosts quartz vein
material up to 8m in width and locally contains high-grade silver, lead
and zinc mineralization. Located within the Toby Creek area, the
steeply-dipping north/south-oriented structure is exposed for
approximately 760m vertically. Historical pits, trenches and tunnels are
located along irregular, exposed intervals over 12kms.

The Black Diamond Zone saw limited production in 1906-1907. Tunnels up
to 65m in length were driven into mineralization in three separate areas
over 790m (2600′) on the north side of Toby Creek. Historical production
of 47 tons of ore was reported, containing 1,929 oz. Ag (40.0 oz/t), and
15,801 lbs. Pb (63%)(source: MEMPR MINFILE). Zinc-rich material was
probably left as waste, as evidenced by inspection of waste dumps.

In 1995, a four-hole, helicopter-supported drilling program was
completed, funded by a private partnership. Four holes were drilled from
a single set-up for a total of 179.1m. Results ranged from trace values
to the best intersection in Hole 95-02 at 28.0m to 31.0m, which graded
93.73 g/t silver, 9.66% lead and 5.17% zinc over 3.0m, with elevated
amounts of cadmium (true thickness estimated at approximately 1.4m).

Concurrent with the 1995 drill program, continuous panel-sampling of an
historic 66m-long tunnel located 60m vertically below the drill set-up
returned an average of 746.3 g/t silver, 25.0% lead and 4.95% zinc over
a 24m section which ran along the structure. Within this section, 6m of
the tunnel length assayed 1444.7 g/t silver, 50.4% lead and 5.37% zinc.

The high-grade vein mineralization is interpreted to be representative
of a possible feeder structure which may present opportunities for
larger manto-type deposits located elsewhere along the structure within
host rocks in areas where exposure is limited.

2012 Program

Supervision was provided by J.K Ryley of TerraLogic Exploration Ltd., a
wholly-owned subsidiary of Eagle Plains, based out of Cranbrook, B.C.
Contract diamond drilling services were provided by FB Drilling Ltd.,
also of Cranbrook. The project was conducted under the overall
supervision of C.C. Downie, P.Geo., hereby identified as the 'Qualified
Person? under N.I. 43-101.

Further details on the project may be found here.

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, $6M cash and 14M shares in
partner companies. Completed agreements have yielded over $5M in
exploration spending, $900,000 cash to EPL and a total of 12M shares of
partner companies including Alexco Resource Corp., NovaGold Resources
Inc., Giyani Gold Corp. and numerous others.

Expenditures during 2011 and 2012 on Eagle Plains-related projects were
approximately $13M, which was funded by Eagle Plains and third-party
partners. This exploration work resulted in approximately 16,000m
diamond drilling and extensive ground-based exploration work
facilitating the advancement of more than 15 projects at various stages
of development.

The contents of this news release have been reviewed and approved by Tim
J. Termuende, P.Geo.

On behalf of the Board of Directors

'Tim J. Termuende?

President and CEO

For further information on EPL, please contact Mike Labach at

1 866
HUNT ORE (486 8673)

Email: mgl@eagleplains.com
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.

Eagle Plains Resources

Mike Labach, 1 866 HUNT ORE (486 8673)

mgl@eagleplains.com

http://www.eagleplains.com