Eagle Plains/Rosedale Enter Into Option Agreement on Rohan Copper-Gold Project, NW British Columbia

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[{"type":"text","content":"\nEagle Plains/Rosedale Enter Into Option Agreement on Rohan Copper-Gold Project, NW British Columbia\n\n\n Feb. 23, 2011 (Filing Services Canada) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTCBB_Pink_Sheets), and Rosedale Resources Ltd. (a private B.C. company) have entered into an agreement whereby Rosedale may earn an interest in the Rohan copper-gold property, located in northwestern British Columbia. Under terms of the agreement, Rosedale has the option to earn a 60% interest in the 3,000 ha property by completing $5M in exploration expenditures, making $500,000 in cash payments and issuing 1.0M common shares to Eagle Plains over 5 years.  Eagle Plains will maintain a 4% Gross Metal Royalty on the claims, which may be reduced to 2% upon payment of $2M. The Rohan property is located immediately south of the Yukon border, 80 kilometres south of White Horse, YK, and 80 kilometres northwest of Atlin BC.  Logistically, the property is well situated along the White Pass rail line, 60 kilometres north of the port of Skagway, Alaska, with easy boat access to the property from Carcross, Yukon. The project area covers a 6 kilometre span of the prospective Llewellyn/Tally-Ho shear zone, part of a larger (>150 kilometre long) crustal-scale fault system, host to numerous gold, silver and base metal properties.  The land package covers several regional stream-silt (RGS) anomalies that includes better than 95th percentile values for gold, copper, antimony, arsenic and lead.  The presence of on-strike gold-bearing showings to the north and south gives the underexplored property good potential for precious metal discoveries. Rosedale and Eagle Plains intend to carry out an airborne geophysical survey followed up by silt-sampling and prospecting to define specific target areas for future work. Update on Wildhorse ProjectEagle Plains has recently received notice from Excelsior Mining Corp that Excelsior is terminating its option on the Wildhorse gold-copper property located in southeastern BC.  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 part...

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