Nov. 9, 2009 (Filing Services Canada) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTCBB_Pink_Sheets),

The Taku River Tlingit First Nation ("TRTFN"), Eagle Plains Resources Ltd. (TSX-V:EPL) and Prize Mining Ltd. (TSX-V:PRZ) jointly announce that the parties have completed and executed a formal Impact and Benefit Agreement ("IBA") relating to mineral exploration and gold production activities at the Yellowjacket Gold Project ("Yellowjacket Project") located near Atlin, British Columbia. The project is operated through the Yellowjacket Joint-Venture ("YJV") comprised of Eagle Plains and Prize Mining. The completion of this document is a very important event and may signify a new era of Aboriginal participation in mineral resource exploration and extraction in British Columbia. The TRTFN is hopeful that the signing of this IBA will pave the way for future relationships with third party interests in the TRTFN traditional territory.

TRTFN Clan Director for Land and Resources, Bryan Jack stated that "the TRTFN is supportive of responsible mineral exploration and mine development in the TRTFN Territory.  In addition, the TRTFN are keen to ensure that the benefits from all responsible development ought to be realized by the TRTFN and Atlin community residents."

The Agreement recognizes that the Yellowjacket Project is located within the TRTFN Territory; and, the YJV holds certain interests and rights granted by British Columbia to extract gold resources. Furthermore, the parties recognize that they have a mutual and beneficial interest in cooperating with each other to advance and complete the Yellowjacket Project in a timely, environmentally responsible and orderly manner.

The Agreement provides employment and training opportunities to TRTFN members and contracts for fuel purchases and other services necessary for mining and exploration activities, including a contract to conduct environmental monitoring at the Project.

In addition, Yellowjacket has agreed to contract TRTFN to study the feasibility of supplying power to the Project from a hydroelectric facility nearby that is owned and operated by the Atlin Tlingit Development Corporation. In turn, TRTFN has agreed to provide to support the Project and grant access, use and occupation to the joint venture to conduct the project within its traditional territory.

The agreement sets out a clear understanding between the parties of the opportunities and benefits that may result from such an undertaking, while taking into consideration the challenges relating to economic sustainability and responsible environmental stewardship. The document itself reflects the clear and forthright communication present throughout the negotiating process and further underscores the mutual respect of all parties.