EAGLE PLAINS RES LTD - EGPLF STOCK NEWS

Eagle Plains Resources Ltd. (TSXV:EPL) has announced positive results from its 2022 drilling program at the Vulcan critical metals project. The program included three holes totaling 1,700 meters, with drill hole VU22004 revealing significant sulphide mineralization over large intervals. Notable findings include 11.55m @ 0.46% Zn and a strong conductivity anomaly detected through BHEM surveying. The presence of primary bedded sulphides suggests proximity to a mineralizing vent, indicating the potential for further exploration. Eagle Plains maintains 100% ownership of Vulcan and aims to continue drilling in 2023 as they reassess historical data to guide future efforts.

Eagle Plains Resources has granted incentive stock options for 2,487,000 shares at an exercise price of $0.24, expiring on January 6, 2028, subject to approvals. The company, established in 1992, has consistently delivered value to shareholders, transferring over $100 million through various spin-outs. Recently, a separate division, Eagle Royalties Ltd., was formed to manage the company's royalty assets, covering multiple commodities. Notably, expenditures from 2011-2022 exceeded $30 million, mainly funded by third parties, facilitating significant exploration advancements.

Eagle Plains Resources Ltd. has entered a non-binding letter of intent with 1386884 BC Ltd. to spin out its royalty interests into a new subsidiary, Eagle Royalties Ltd. This transaction involves transferring royalties in exchange for 42 million Spin-out Shares, with 36.5 million distributed to former shareholders. 138 plans to raise approximately $3 million through private placements and amalgamate with Eagle Royalties. The public listing on the Canadian Securities Exchange is anticipated post-transaction closure, expected by Q2 2023.

Eagle Plains Resources has received promising results from its Kalum Property in British Columbia, where gold values were confirmed through a 2022 field program conducted by partner Rex Resources. Soil and rock sampling yielded significant assay results, with rock samples returning as high as 12.55 g/t Au. The fieldwork aimed to identify future drilling targets, collecting a total of 67 rock and 277 soil samples. Rex holds an option to earn a 60% interest in the property by fulfilling specified financial commitments. The project showcases potential for high-grade gold deposits.

Eagle Plains Resources has reported final results from its Fall 2022 drilling program at the Vulcan Project, located 30km from the Sullivan deposit in BC. The three-hole, 1,700m drilling campaign successfully intersected the Lower-Middle Aldridge Formation contact in all holes, with significant findings in hole VU22004, suggesting proximity to a lead-zinc mineralized feeder system. Results showed notable mineralization including 4.77m at 0.14% Zn and 0.21% Pb. Management is optimistic about further exploration in 2023, despite the overall sub-economic nature of the results.

Eagle Plains Resources Ltd. announced the formation of a new division, Eagle Royalties Ltd., to enhance shareholder value by managing royalty assets across British Columbia, Yukon, and Saskatchewan. This strategic move aims to oversee a diverse range of commodities including gold, silver, and rare-earth elements. Eagle Plains has invested over $30M in related projects from 2011 to 2022, with significant advancements in exploration. The company maintains its core focus on grassroots precious and critical metal projects while seeking new royalty opportunities.

Eagle Plains Resources Ltd. held its Annual and Special Meeting on November 25, 2022, where shareholders approved all proposed matters. Key outcomes included the election of directors, the appointment of auditors, and the renewal of the Stock Option Plan. The Company is financially robust, with $9.4M in cash, no debt, and an ongoing successful subsidiary, TerraLogic Exploration Inc. Additionally, Eagle Plains announced the formation of Eagle Royalties Ltd. to manage its royalty assets, enhancing its valuation and growth potential.

Eagle Plains Resources has announced a strategic reorganization to enhance shareholder value by forming a new division, Eagle Royalties Ltd., which will manage its royalty assets across various commodities. The company aims to identify and value specific royalty interests more effectively and facilitate independent marketing and development of these assets. The portfolio includes royalties from gold, silver, copper, and diamonds, primarily in British Columbia, Yukon, and Saskatchewan. This move is part of Eagle Plains' ongoing efforts to optimize its core exploration activities and maintain steady growth.

Eagle Plains Resources Ltd. has completed a 1,700m drilling program at its 100% owned Vulcan Project, located 30km west of Kimberley, BC. All three drill holes intersected the Lower-Middle Aldridge contact, significant for potential mineralization. Hole VU22004 showed promising results with high concentrations of zinc, lead, and silver, indicating proximity to a mineralized feeder system. This suggests further drilling is warranted, as management highlighted the geological similarities to the nearby Sullivan deposit, one of the largest in the world.