EAGLE PLAINS RES LTD - EGPLF STOCK NEWS

Eagle Plains Resources has entered a formal option agreement with Annacotty Resources for a 60% interest in the Donna Property in British Columbia. Annacotty will invest $4 million in exploration, pay $520,000 in cash, and issue 1.2 million shares to earn this interest over five years. The Donna Property spans 11,494 hectares and is well-positioned within a mineral-rich area but has seen limited exploration. Eagle Plains has invested significantly in previous exploration activities, including 1,152m of diamond drilling.

Eagle Plains Resources Ltd. has successfully closed a non-brokered private placement, as announced on June 30, 2022. The financing generated gross proceeds of $1,287,080 CDN from the sale of 7,571,058 flow-through units at $0.17 CDN per unit. Each unit includes a common share and a warrant exercisable at $0.25 CDN for 24 months. Proceeds are earmarked for exploration projects in British Columbia and Saskatchewan. Notably, management has a strong history of enhancing shareholder value, with over $100 million transferred to shareholders since inception.

Eagle Plains Resources Ltd. plans a non-brokered private placement of up to 7,000,000 flow-through units, priced at $0.17 CDN per unit, aiming for gross proceeds of $1,190,000 CDN. Each unit comprises a flow-through common share and a half non-flow-through common share purchase warrant, with a 24-month exercise price of $0.25 CDN. An additional 10% overallotment is authorized. The proceeds will fund exploration projects in British Columbia, Saskatchewan, and Yukon. The financing closing is expected in July 2022.

Eagle Plains Resources partners with Rockridge Resources to advance the Knife Lake Project in Saskatchewan. The recent completion of 3D Geophysical Plate Modelling utilizing VTEM data reveals up to 15 km of conductive anomalies, aiding in targeted drilling set to commence in mid-July 2022. Rockridge, fully funded for the program, focuses on the Gilbert Lake target area, anticipated to yield valuable copper and other mineral occurrences. This initiative follows successful historical drilling, which identified significant mineralization, including 2.03% Cu in previous drill results.

Eagle Plains Resources Ltd. has initiated a diamond drilling program at its 100% owned Iron Range Project in Southern British Columbia. The drilling, consisting of 5-6 holes totaling 3,500 meters, is expected to last 8-9 weeks, with Hole IR22049 currently reaching 725 meters. The option partner can earn a 60% stake by investing $3.5 million and making $250,000 in cash payments to Eagle Plains. The project has historically shown potential for iron-oxide copper-gold and lead-zinc-silver mineralization, although past drilling has yielded varying results.

Eagle Plains Resources (TSXV:EPL) and Shooting Star Acquisition Corp. have signed an option agreement for the Eldridge Property in Saskatchewan. Shooting Star can earn a 60% interest by investing $4 million, paying $500,000, and issuing 1 million shares over four years. The Eldridge Property covers 13,500ha and is situated in a geologically promising area. Historical exploration has been minimal, but recent assessments indicated significant gold potential, with assays ranging from 0.1 - 9.7 ppb. A follow-up exploration is recommended to further evaluate the property.

Eagle Plains Resources announces that its option partner Rockridge Resources plans to initiate a fully funded drilling program at the Knife Lake Copper VMS Project in Saskatchewan, set for mid-July 2022. The program targets geophysical areas identified in 2021, focusing on the highly prospective Gilbert Lake zone while evaluating other targets across the property, which spans 56,865 hectares. Rockridge has secured contracts for necessary logistics and aims to update shareholders on the exploration progress, highlighting the project's potential in a favorable mining jurisdiction.

Eagle Plains Resources has completed a 10-hole, 1867m drill program at its 100%-owned Olson property, revealing significant gold mineralization across various zones. SKRR Exploration may earn up to a 75% interest in the Olson property through a structured agreement. Key findings include 50.35m @ 0.56 g/t Au at Michael's Lake and 8.07m @ 1.62 g/t Au at the Olson Zone. The program, fully funded by SKRR, confirms the presence of high-grade gold and extends known mineralized trends. The Olson property remains significantly underexplored, with numerous opportunities for further discoveries.