EAGLE PLAINS RES LTD - EGPLF STOCK NEWS

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.

Eagle Plains Resources has begun fieldwork on its 100%-owned Adamant Property in British Columbia, covering 9,461 hectares. This project focuses on rare earth element mineralization and is supported by a $100,000 budget. Historical exploration has uncovered significant rare earth elements, niobium, and molybdenum grades. Plans for 2022 include geological mapping, sampling, and studies led by experts, aimed at assessing the economic viability of the site. The company, established in 1992, emphasizes enhancing shareholder value through mineral exploration and partnerships.

Eagle Plains Resources has initiated fieldwork on its 100%-owned Ice River Property in British Columbia, with a budget of $100,000. The Ice River Property is rich in precious metals and rare earth elements, with significant mineralization documented, including over 34300 ppm of Total Rare-Earth-Elements. The 2022 fieldwork will focus on several priority targets that show promise from previous sampling. A geology professor has been brought on for advanced studies to further evaluate the area's mineral potential.

Eagle Plains Resources (TSXV:EPL) announces that its option partner, Rockridge Resources (TSXV:ROCK), has initiated a summer drill program at the Knife Lake Copper VMS Project in Saskatchewan, covering approximately 1,000m. The project includes the Knife Lake Cu-Zn-Ag-Co deposit with robust potential for new discoveries and resource expansion. Rockridge is fully funded and permitted for the drilling, which targets both Gilbert Lake zones and the existing Knife Lake deposit. This opportunity highlights the project's value in a top mining jurisdiction amidst high demand for copper and other base metals.

Eagle Plains Resources announced the completion of the 2022 field program at its 100%-owned Schotts Lake Cu-Zn project in Saskatchewan, conducted by partner Canter Resources Corp.. This program included soil and lithogeochemical sampling, with further geophysical modeling planned. Canter has the option to earn a 60% stake by investing $5 million over four years and making cash payments of $500,000. Historical estimates show a resource of approximately 1.98 million tonnes at average grades of 0.61% copper and 1.35% zinc, although these are considered historical and not compliant with current standards.

Eagle Plains Resources has announced that option partner Rex Resources Corp. has mobilized field crews to the Kalum Property in British Columbia, aiming to explore the site with an investment plan totaling $3 million in exploration expenses, $500,000 in cash payments, and 1 million shares over four years. The 2,871 ha property shows potential for high-grade gold-silver deposits, drawing from its historical exploration success, including a notable 35g/t Au find. The 2022 work will feature various geological mapping and prospecting activities.