EAGLE PLAINS RES LTD - EGPLF STOCK NEWS

Eagle Plains Resources Ltd. has initiated a drilling program on its 100%-owned Donna Project in British Columbia, targeting gold and silver mineralization in 5-7 holes, totaling 1,500 meters. The area shows significant potential due to historical findings and geochemical anomalies. Additionally, Eagle Plains has an agreement to earn a 100% interest in the nearby Dictator Property, involving substantial exploration expenditures. Recent assays from the Dictator site indicate promising gold and silver values, highlighting the company's strategic focus on mineral exploration and resource development.

Eagle Plains Resources has mobilized crews for a 12-hole, 1,850-meter diamond drilling program at its 100%-owned Olson property in Saskatchewan, aiming to investigate previously drilled gold zones and new targets based on recent geological studies. The program, funded by SKRR Exploration, will test three key areas: Jena/Juba, Point-Tuscan, and Sisko, identified through extensive past exploration data. The Olson project has historical gold intersections of up to 2.07 g/t Au and is considered underexplored, with potential for significant mineral discoveries.

Eagle Plains Resources Ltd. has successfully closed a non-brokered private placement, raising a total of $529,060 CDN. This includes 1,015,000 non-flow-through units at $0.16 CDN each and 2,037,000 flow-through units at $0.18 CDN each. The proceeds will be allocated for exploration projects in British Columbia and Saskatchewan, enhancing shareholder value. The company is committed to responsible exploration practices and has invested over $20M in projects since 2011. The common share purchase warrants are exercisable at $0.30 CDN for 24 months.

CRANBROOK, BC – Eagle Plains Resources Ltd. (TSXV:EPL) announced that shareholders approved all resolutions during the Annual and Special Meeting held on September 24, 2020. Key decisions included the election of six directors, the appointment of Crowe MacKay LLP as auditors, and the renewal of the Stock Option Plan. The company maintains financial health with $5.9M cash, over $3.4M in short-term investments, and no debt. Eagle Plains continues to advance various mineral exploration projects across western Canada while its subsidiary generates revenue through consulting services.

Eagle Plains Resources Ltd. intends to complete a non-brokered private placement totaling $520,000 CDN, consisting of both non-flow-through and flow-through units priced at $.16 and $.18 CDN, respectively. Each unit includes a common share and half a purchase warrant, exercisable at $.30 CDN for a 24-month period. Proceeds will fund exploration in British Columbia, Saskatchewan, and Yukon. The company has previously invested over $20M in its projects since 2011, focusing on gold, uranium, and base metals, in a region recently recognized for its investment attractiveness.

Eagle Plains Resources Ltd. has entered a formal option agreement with Amaroq Gold Corp. to transfer up to an 80% interest in its 100%-owned Pine Channel project, spanning 6,000 hectares in Saskatchewan. Amaroq can earn a 60% stake by completing $3 million in exploration, issuing 1 million shares, and paying $500,000 over three years. An additional 20% can be earned through $2 million in further exploration and additional share and cash payments. Historical data reveal promising gold mineralization with values up to 77.5 g/t Au.

Eagle Plains Resources, in collaboration with SKRR Exploration, has released positive results from the Phase 1 geological and geophysical program at the Olson property. The program, funded by SKRR, has revealed extensive gold mineralization through rock and soil samples, with notable assays including up to 14.7 g/t Au from the Juba area. The next phase aims to drill both historically and newly identified targets. The Olson project, underexplored, has potential for significant gold deposits, supported by historical drilling results. A joint venture is expected to follow SKRR's potential 75% acquisition of the property.

Eagle Plains Resources Ltd. announced the acquisition of the historic Nyberg Lake Iron Deposit through staking, covering 575 hectares in Saskatchewan. This property is free from royalties and encumbrances. Historical estimates suggest the deposit contains 115.4 million tons of iron, averaging 34.92% Fe. The company sees potential for gold mineralization similar to nearby projects. However, it cautions that historical estimates are not classified as current resources and may not be economically viable. Eagle Plains aims to enhance shareholder value through exploration and strategic acquisitions.

Eagle Plains Resources has entered into a formal option agreement to sell its 100% interest in the Manson Bay South claims to SKRR Exploration Inc. for $10,000 cash and 750,000 shares. The deal includes a 2% over-riding royalty, reducible to 1% for $1,000,000. The Manson Bay South property contains significant historical mineral showings, surrounding an existing resource. Drilling highlights include intersections of up to 20.25 g/t Au, indicating potential for further exploration. Eagle Plains remains optimistic about future developments as a significant shareholder of SKRR.