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From: heinz443/8/2011 12:18:44 PM
   of 233869
 
Another deal 50 to go!!stock doing Zilch
Eagle Plains options Findlay to MMG

2011-03-08 08:35 ET - News Release

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
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Mr. Tim Termuende reports

EAGLE PLAINS AND MMG ANNOUNCE LETTER OF INTENT ON THE FINDLAY PROPERTY

Eagle Plains Resources Ltd. has executed a letter of intent with Minerals and Metals Group whereby Eagle Plains has agreed to grant an option to MMG to earn a 60-per-cent interest in Eagle Plains' 100-per-cent-owned Findlay/Greenland Creek properties, located 30 kilometres north of Kimberley in British Columbia. Under terms of the proposed agreement, MMG may earn a 60-per-cent interest in the 33,500-hectare property by making staged cash payments to EPL totalling $500,000 and completing $5-million in exploration expenditures over five years. MMG may earn an additional 15-per-cent interest (for a total of 75 per cent) by delivering a bankable feasibility study by 2021.

The Findlay project overlies Aldridge formation stratigraphy, considered prospective for sedimentary-exhalative deposits. Structurally, this area has been identified as an extension of the North Star-Sullivan corridor which hosts the world-class Sullivan deposit 30 km to the south. The Findlay property displays Sullivan-style exhalative tourmalinite (boron) horizons, massive fragmental sections, anomalous lead, zinc, indicator geochemistry and base metal occurrences. This Sullivan smoke occurs throughout the lower to upper Aldridge formation and indicates the potential for Sullivan-style mineralization at multiple stratigraphic levels. Fieldwork by Eagle Plains has identified a number of targets, including
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