Mr. Tim Termuende reports

EAGLE PLAINS ACQUIRES SCHOTTS LAKE VMS COPPER DEPOSIT

Eagle Plains Resources Ltd. has acquired, by staking, a block of claims that cover the historic Schotts Lake copper-zinc volcanogenic massive sulphide deposit. The claims cover an area of 1,160 hectares and are located 40 kilometres northwest of Flin Flon, Man. The claims are 100 per cent owned by Eagle Plains and carry no underlying royalties or encumbrances.

Schotts Lake geology and history

The Schotts Lake property hosts metamorphic and intrusive rocks, which are dominantly volcanic in origin and associated with an island arc environment. The rocks are folded into an easterly dipping synform.

Mineralization consists of semi-massive-to-massive pyrrhotite and pyrite with associated chalcopyrite (copper) and sphalerite (zinc) mineralization. The Schotts Lake deposit is interpreted to be a typical exhalative massive sulphide zone. The mineralized zone has an average thickness of 20.4 metres, is overturned and lies on the eastern limb of a major northeasterly plunging fold. The deepest mineralized intercept is at a vertical depth of 266 metres, with mineralization open to depth.

The attached table outlines significant historical drill intercepts.

      SIGNIFICANT DRILL INTERCEPTS-SCHOTTS LAKE PROJECT
   
Hole ID    Width (m)    From (m)    To (m)    Cu (%)    Zn (%)

1              16.7           -         -       1.1      1.83 
4              0.76           -         -       4.3       3.3  
13              5.8        30.4      36.2       2.5      0.17 
35              1.7       256.8     258.5      2.07      0.01 
65             15.8        82.3      98.1      0.38      1.84 
66              7.6        71.6      79.2      0.96      5.48 
67              3.0        49.1      52.1      1.71      3.48 
68             17.9       133.8     151.7      0.85      1.53 
69             18.3       128.2     146.5      0.53      1.09 
70             22.7       149.7     172.4      0.54      1.96 
75             27.4       183.5     210.9      0.35      2.25 

The Schotts Lake property has seen a number of different owners over its history, with work including airborne and ground-based geophysics, geological mapping, prospecting and 77 drill diamond drill holes (7,918 metres).

The first claims were staked in the Schott's Lake area in 1953 by Kay Lake Mines to cover the surface exposure of a number of gossans. The property was optioned to Hudson Bay Exploration and Development, which completed 39 drill holes between 1954 and 1955. The next major work was undertaken in 1968 by the Scope Resources-Stall Lake Mines joint venture, which drilled 26 holes in 1968. Over the next 40 years, the property was worked by a number of different operators, including Homestake, Quest Canada Resources Ltd. and Aur Resources Inc., before being restaked by Hudbay Minerals Inc. in 2010. Hudbay Minerals completed a property-scale geochemical survey in 2014, followed by a 215-line-kilometre HeliSAM deep-penetrating electromagnetic geophysical survey in 2015, which identified seven conductors that were recommended for follow-up.

A number of different historical resources have been estimated for the Schott's Lake deposit. They range from 925,000 tonnes averaging 0.64 per cent copper and 1.16 per cent zinc (Hudson Bay Exploration and Development in 1954) to 4.5 million tonnes of 0.41 per cent copper and 1.26 per cent zinc (Aur Resources 1998). The most recent resource estimate was by Aur Resources in 2003, which estimated a geological resource of 1,985,850 tonnes grading 0.61 per cent copper and 1.35 per cent zinc.

Eagle Plains Resources' management considers these estimates to be historical in nature and cautions that a qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves in accordance with National Instrument 43-101. These estimates do not comply with current definitions prescribed by NI 43-101 or the Canadian Institute of Mining, and are disclosed only as indications of the presence of mineralization and are considered to be a guide for additional work. The historical models and data sets used to prepare these historical estimates are not available to Eagle Plains Resources, nor are any more recent resource estimates or drill information on the property.

Charles Downie, PGeo, a qualified person for the purposes of NI 43-101 -- Standards of Disclosure for Mineral Projects, has prepared, reviewed and approved the scientific and technical disclosure in the news release.

About Eagle Plains Resources Ltd.

Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout Western Canada. It is committed to steadily enhancing shareholder value by advancing its diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team. The management's current focus is to preserve its treasury while advancing the company's most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions.

We seek Safe Harbor.