Eagle Plains/Prize Mining Receive Small Mines Permit for Yellowjacket Gold Project, Atlin, B.C.

CRANBROOK, British Columbia--(Business Wire)--
Eagle Plains Resources Ltd. (EPL:TSX-V) and Prize Mining Corp. (PRZ:TSX-V)
jointly announce that the British Columbia Ministry of Energy, Mines and
Petroleum Resources ("BC-MEMPR") has awarded the Yellowjacket Venture
("Yellowjacket JV") a Small Mines Act Permit for development and production at
the Yellowjacket Gold Project in northwestern British Columbia. The Permit
allows for the development and operation of an open pit gold mine and onsite
concentrator processing up to 75,000 tons per year of ore.

The Yellowjacket JV, Eagle Plains and Prize Mining management teams consider the
delivery of the mining and milling permit a major achievement and milestone for
the project, its advisors and consultants. The permit is one of only three small
mine permits issued by BC-MEMPR since May 2007. The permit process was steered
by the Northwest Mine Development Review Committee (NWMDRC).

The Yellowjacket Gold Project is located within the traditional territory of the
Taku River Tlingit First Nation (TRTFN) who have been active participants in the
review and approval of the Small Mines Act Permit both through their
representation on the NWMDRC and in direct consultation with the Yellowjacket JV
proponents.

Commissioning and test work on the mill facility at the Yellowjacket Gold
Project was recently completed (NR June 29 2009) confirming a mill capacity of
350 tonnes per day. Metallurgical test work and plant engineering designs show
that expected gravity concentration gold recoveries will be between 73% and 80%.
Using ratios of average gold in tailings compared to average total gold values
in conveyor cut assays, it appears that the gold loss to tailings is well within
the targeted acceptable recovery range. On-going studies will be conducted to
improve recoveries.

On site, modifications will commence on the tailings storage facility, in order
to comply with federal and provincial environmental regulations. Tailings
facility construction will be followed by dewatering of the existing open pit
(previously excavated during the bulk sampling program) and extraction of up to
35,000 tonnes ofore. Processing of ore is expected to commence in August 2009.

Linda Dandy, P.Geo., Mine Manager, is the "Qualified Person" for the purpose of
National Instrument 43-101, has reviewed and verified the contents of this news
release.

A detailed history of the project and recently updated photo-gallery may be
found here

About Eagle Plains Resources

Eagle Plains Resources plans to commence gold production at the Yellowjacket
project in mid-2009 and continues to conduct research, acquire and explore metal
projects in western Canada. In addition to holding mining royalties on various
projects, the Company controls over 35 gold, base-metal and uranium projects,
several with third parties including Waterloo Resources Ltd (TSX-V:WAT.P) and XO
Gold Resources Ltd. (a private B.C. company). In recent years, Eagle Plains has
completed option agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp.
(TSX-V:AXR), Billiton Metals, Rio Algom Exploration, NovaGold Resources,
Kennecott Exploration and numerous other junior exploration companies, resulting
in over 53,000m (158,500`) of drilling and over $27.0 million in exploration
spending on its projects since 1998.

Expenditures during 2008 on Eagle Plains` projects were approximately
$6,000,000, funded equally between Eagle Plains and third party partners. This
work resulted in approximately 6,300m of drilling and extensive ground-based
exploration work and facilitated the advancement of numerous projects at various
stages of development.

On behalf of the Board of Directors

Signed

"Tim J. Termuende"

President and CEO

For further information, 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

The TSX Venture Exchange has not reviewed and does not accept 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 Ltd.
Mike Labach, 1 866 HUNT ORE (486 8673)
mgl@eagleplains.com
http://www.eagleplains.com

Copyright Business Wire 2009