EAGLE PLAINS RES LTD - EGPLF STOCK NEWS

Eagle Plains Resources Ltd. (EGPLF) has announced plans for its 2023 diamond drill program at the fully-owned Vulcan Project, located 30km from the Sullivan deposit. Scheduled to begin in mid-June, the program will encompass at least 3,000 meters of drilling at the Hilo & West Basin Zones, conducted by Terralogic Exploration Inc. Results from the previous 2022 drill program indicated potential mineralization, including significant intersections of sphalerite and galena. The management expresses confidence in the upcoming program's ability to uncover additional mineralizations linked to historical successes nearby, while cautioning that results from nearby deposits do not guarantee outcomes at Vulcan. The company has also reported progress on the Brownell Lake Project, where preliminary geophysical surveys have identified promising conductors for further exploration.

Eagle Plains Resources Ltd. has announced that its option partner, Pacific Imperial Mines Inc., has mobilized a geophysical team to the Brownell Lake project in Saskatchewan. This project is located 17 km northwest of Deschambault Lake and spans 1863 hectares. PPM may earn up to a 60% interest by investing $5 million, issuing 1 million shares, and making $500,000 cash payments over four years. A Time Domain Electromagnetic (TDEM) survey will cover 12 line kilometers to enhance mineralization understanding. Historical drilling has shown promising results, including 3.35 m of 0.48% Cu and 2.28% Zn. Despite the positive data, Eagle Plains cautions these results are historical and not current mineral resources according to NI 43-101 standards. This exploration effort is part of a broader strategy to enhance shareholder value through mineral project development.

Eagle Plains Resources Ltd. has acquired a strategic mineral disposition within its Pine Channel Gold Property, which includes historical Algold Bay mineralization. Apogee Minerals Ltd. holds the exclusive option to acquire an 80% stake in the property. Algold Bay's tenure, active since 1979, has reported significant gold mineralization with values up to 100.1 g/t Au. The Pine Channel Property spans 6,519 hectares and contains 29 mineral dispositions, with numerous recorded mineral showings. The agreement requires Apogee to invest CAD $3 million over four years, issuing shares and cash payments to Eagle Plains.

Eagle Plains Resources Ltd. has entered into an option agreement with Pacific Imperial Mines Inc. concerning the Brownell Lake VMS-polymetallic exploration project in Saskatchewan. PPM can earn up to a 60% interest by investing $5 million in exploration, issuing 1 million shares, and making $500,000 in cash payments over four years. Historical drilling at Brownell Lake indicated significant mineralization, including 0.48% Cu and 2.28% Zn over 3.35 m. The company plans to conduct further geophysical surveys to explore the project's potential.