Eagle Plains/Excelsior Execute Option Agreement on Wildhorse Gold/Copper
Property, South-eastern British Columbia

Cranbrook, B.C., 11 March, 2010: Eagle Plains Resources Ltd. (EPL:TSX-V) and
Excelsior Mining Corp. (TSX-V:MIN.P) have entered into an option agreement on
Eagle Plains' 100% owned Wildhorse project located 40km north of Cranbrook,
B.C. Under the terms of the Agreement, Excelsior may earn a 70% interest in the
property by completing $3,000,000 in exploration expenditures, making $250,000
in cash payments and issuing 1,000,000 shares to EPL over 4 years. Upon
Excelsior exercising its option, a 60/40 joint venture between Excelsior and
Eagle Plains will be formed.


The Option Agreement

Under the terms of the Option Agreement, Excelsior has an option (the �Option�)
to earn a 60% interest in the Property which may be exercised by:

� Making cash payments to Eagle Plains totaling $250,000 over four years;
� Issuing a total of 1,000,000 Excelsior common shares to Eagle Plains over a
period of four years; and
� Incurring exploration expenditures totaling $3,000,000 over four years.

Excelsior has an option to earn an additional 10% interest (the �Additional
Option�), thereby increasing its total interest in the Property to 70%, which
may be exercised by:

� Exercising the Option;
� Issuing a total of 300,000 Excelsior common shares to Eagle Plains; and
� Incurring exploration expenditures totaling $1,000,000.

Excelsior has been appointed as the operator of the Property and has the
exclusive and sole responsibility of administering and carrying out the
exploration programs on the Property. The Option Agreement includes standard
representations and warranties, termination provisions and a three kilometre
area of interest. Additionally, the parties have agreed that upon Excelsior
exercising the Option to earn a 60% interest, a joint venture will be deemed to
have automatically formed and the parties will negotiate in good faith to enter
into a formal joint venture agreement.


The property consists of 355 ha located along the Wildhorse River in
southeastern British Columbia, the site of BC's third-largest gold rush in the
latter part of the 1800's. Placer gravels yielded more than 1,000,000 ounces of
gold, with active placer operations in place today along the river.


A number of high-grade mineral occurrences are present on the property:

Dardenelles (gold):

Historically this area was known as the Dardenelles and Motherlode Crown grants
which were surveyed by the Crown in 1898. An arrastra (mill) was built on
nearby Victoria Creek to process gold-bearing massive quartz from two adits
drifted on the Dardenelles claim at the end of the nineteenth century. A 95t
bulk-sample of vein material was completed in 1975, returning 14.4 g/t (0.463
oz/t) average grade.

Eagle Plains in 2008 completed a 9-hole, 731m Diamond drilling program designed
to expand the known dimensions of the vein system. Drilling extended the known
vein system both laterally and to depth.

Tit for Tat (gold):

Located approximately 800m south of the Dardenelles occurrence, high grade vein
mineralization has been reported, with gold values ranging from trace to a high
of 41.5g/t (1.334 oz/t) over widths up to 0.5m reported by past operators.

Copper Creek (sedimentary copper-silver):

Quartzite-hosted sedimentary copper-silver mineralization has been reported in
rocks age-equivalent to those which host the Spar Lake and Montanore deposits
located near Troy, Montana. During the 1970s, the Spar Lake mine produced 44
million tons of ore grading .74% copper and 53 g/t silver. Sampling of
disseminated copper-silver mineralization in the Copper Creek area returned
5185ppm Cu and 40 g/t Ag (widths unknown).

About Eagle Plains Resources

Eagle Plains 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 Swift Resources Inc. (TSX-V:SWR), Prize Mining Corp..
(TSX-V:PRZ), Waterloo Resources Ltd. (TSX-V:WAT.P), Touchdown Capital Inc.
(TSX-V: TDW) and 99 Capital Corp. (TSX-V:WDG). 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 53,600m (163,370') of drilling and over $28.3 million in
exploration spending on its projects since 1998.


Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.


This news release has been reviewed and approved by Tim J. Termuende, P.Geo..,
hereby designated as a qualified person under National Instrument 43-101.

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.



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