EAGLE PLAINS RES LTD - EGPLF STOCK NEWS

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.

Eagle Plains Resources announces that its option partner, Rockridge Resources Ltd., has earned a 100% interest in the Knife Lake Copper VMS Project in Saskatchewan. The project spans 56,865 hectares and includes a NI 43-101 resource estimate of 3.8 million tonnes at 1.02% CuEq and 7.9 million tonnes at 0.67% CuEq. Rockridge paid $150,000, issued 5,550,000 shares, and completed $3,250,000 in exploration expenditures. Ongoing drilling aims to expand the resource and explore the promising Gilbert Lake target area. The project benefits from proximity to a powerline and existing geological data.

Eagle Plains Resources Ltd. (TSXV:EPL) announced the successful completion of its first drilling hole (VU22003) at the Vulcan project, reaching a depth of 630m. Notable mineralization, including minor sphalerite and a narrow band of pyrrhotite, was observed, suggesting potential for zinc enrichment. A follow-up geophysical survey is planned. Additionally, the company secured a 12-month extension for the expiry of 1,526,000 common share purchase warrants, now set to expire on September 25, 2023, at a price of $0.30 per warrant.

Eagle Plains Resources Ltd. has applied to amend the term of 1,526,000 outstanding common share purchase warrants due to expire on September 25, 2022, seeking an extension to September 25, 2023. The warrants will continue to have an exercise price of 30 cents and an acceleration clause if the share price exceeds 50 cents for 20 consecutive trading days. Established in 1992, Eagle Plains is a project generator focused on mineral exploration in western Canada, with over $27M spent on projects from 2011-2021 and significant royalty interests in multiple resource projects.

Eagle Plains Resources has mobilized field crews to commence a 1,600m drilling program at its Vulcan property in British Columbia, which spans 8,617 hectares. This area is believed to have significant potential for silver-lead-zinc mineralization, akin to the nearby Sullivan deposit that has yielded substantial historical ore totals. The drilling aims to explore sedimentary-exhalative mineralization at the Lower-Middle Contact (LMC) horizon. Previous exploration efforts and recent geophysical surveys have highlighted favorable geological features, further validating the prospects of Vulcan.