The Albany Gazette - Eagle Plains and Earthwise Intersect Gold Mineralization in all Holes at the Iron Range Precious Metals Project, SE BC

Highlights

• All three holes intersected mineralization

• IR26053: 15m @ 0.53g/t Au; and 0.50m @ 7.26 g/t Au;

• IR26054: 24m @ 0.73 g/t Au; and 0.5m @ 11.75 g/t Au;

• IR26055: 60.5m @ 0.76 g/t Au; including 1.0m @ 6.62 g/t Au;

• Potential for multiple ore shoots within Talon Zone;

The 2026 drill program was designed to infill historical mineralized intercepts and assess continuity of mineralization along trend at the Talon Zone structure, where 2010 drilling by Eagle Plains intersected 2 intervals of strong and continuous mineralization including 14.0m grading 5.1g/t gold, 1.86% lead, 2.1% Zinc, 75.3g/t silver and 7.1m grading 8.13g/t gold, 2.84% lead, 3.07% zinc, 86.6g/t silver (DDH IR10010).

The 20,021ha Iron Range Project is considered by management of both Eagle Plains and Earthwise to hold excellent potential for the presence of structurally controlled gold-silver mineralization, iron-oxide copper-gold ("IOCG") and Sullivan-style lead-zinc-silver sedimentary-exhalative ("sedex") mineralization. The property is owned 100% by Eagle Plains, with part of the property subject to an underlying 1.0% Net Smelter Royalty held by a third party. The drill program was managed by Terralogic Exploration Inc. and diamond drilling was contracted to QB Drilling.

Chuck Downie, President and CEO of Eagle Plains commented "We are very encouraged by the results from the 2026 drilling program. Hole IR26055 indicates the potential for additional ore shoots within the broader Talon Zone. Similar structural splays off of the Iron Range Fault system, coincident with anomalous pathfinder geochemistry and IP geophysical anomalies that are modelled to extend to depth exist elsewhere in the Talon Zone area, and are untested by drilling."

DDH Plan Map Link

Table 1 Drill Hole Information

*Collar locations projected in NAD83 UTM Zone 11N

2026 Drill Results

Table 2 Analytical Results

* All drill indicated intercepts as reported in this news release are measured along core length and true thickness is yet to be determined.

All drillholes collared in Middle Aldridge and ended in Lower Aldridge Formation sediments, typical of the Purcell Basin turbidite stratigraphy. Talon Zone style mineralization is defined by strong silica-feldspar alteration associated with chaotic quartz-feldspar-ankerite veins. Polymetallic mineralization (pyrrhotite-pyrite-sphalerite-galena-arsenopyrite-sulfosalts) is typical throughout the structural zone as veins, fracture infill and localized breccia cement. The Talon Zone structure is interpreted to be a NE-SW trending structural splay off the regional Iron Range Fault and is marked by a multi element soil geochemical anomaly and coincident geophysical Induced Polarization (IP) chargeability and resistivity anomalies. The IP chargeability + resistivity anomaly remains open to the southwest and north and drilling has only tested

DDH IR26053 was designed to cross-cut the Talon Zone structure, infilling historical holes IR11011 and IR11015. At target depth the boreholes are spaced approximately 120m along trend. IR26053 successfully infilled the historical drilling, piercing target stratigraphy ~70m NE of IR11015 and ~50m SW of IR11011. Geochemical results defined a number of anomalous zones of gold mineralization, confirming continuity of gold mineralization between historical holes. The interval from 342.0 - 342.5 returned 7.26 g/t Au and 49.9 g/t Ag, associated with semi-massive pyrrhotite veining in weakly altered Aldridge sediments. Interval 374.0 - 389.0 returned 0.53 g/t Au over 15m and is associated with intense, pervasive silica and feldspar alteration of Aldridge sediments that is typical of mineralized stratigraphy within the main (lower) Talon Zone.

DDH IR26053 Section

DDH IR26054 was designed to cross-cut the Talon Zone structure, infilling between historical holes IR10010 and IR11011. At target depth the boreholes are spaced approximately 60m along trend. IR26054 successfully infilled the historical drilling, piercing target stratigraphy ~ 30m NE of IR11011 and ~30m SW of IR10010. An interval of well developed pyrrhotite veining in weakly altered Aldridge sediments returned 11.75 g/t Au and 79.9 g/t Ag over 0.5m from 243.25 - 243.75m. Geochemical results from the main (lower) Talon Zone Structure, intercepted between 258-345m, include 24m at 0.73 g/t Au from 303.5 - 327.5m. Within this broader interval, 305.0 - 306.5 returned 4.47 g/t Au over 1.5m. Mineralization in the main (lower) Talon Zone horizon is associated with strong, pervasive silica-felspar alteration and chaotic swarms of variably mineralized quartz-feldspar-carbonate veins and lesser breccia cement.

DDH IR26054 Section

DDH IR26055 was designed to overcut IR11015, assessing continuity of an upper mineralized structural trend to the southwest, an area that is historically underexplored. The hole successfully intercepted an upper and lower mineralized horizon first defined in DDH IR11015. The hole was collared in the upper mineralized horizon (15-104m), where polymetallic mineralization (pyrrhotite-pyrite-sphalerite-galena-arsenopyrite-sulfosalts) is associated with intense oxidization of sulphides and strong silica and feldspar alteration of the Middle Aldridge sediments. The strong-intense alteration associated with polymetallic mineralization is consistent with the mineralization style observed at the main (lower) Talon Zone horizon and could indicate the potential for multiple ore shoots within the broader Talon Zone Structure. Geochemical results from the upper horizon included 60.5m of 0.76 g/t Au from 21.0 - 81.5m. including 1.0m at 6.62 g/t Au and 67.1 g/t Ag from 77.2 - 78.2m.

The main (lower) Talon Zone mineralized horizon was intercepted between 241-380m, a 40m step-out from IR11015. The best results were 3.09 g/t Au over 1.5m from 258.5 - 260.0m.

DDH IR26055 Section

Quality Assurance and Quality Control

All drill core samples were analyzed at ALS Canada Ltd. in North Vancouver, BC. The sampling program was undertaken by TerraLogic Exploration personnel under the direction of Kerry Bates, P.Geo. QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and coarse reject duplicates within the sample stream. Drill core is cut in-half with a diamond saw with one-half placed in sealed bags and shipped to the laboratory and the other half retained in permanent core store in Cranbrook, BC. A secure chain of custody is maintained in transporting and storing of all samples.

The entire sample is crushed to 70% passing 2mm (10 mesh), of which a 250g split is pulverized to 80% passing 75 micron (200 mesh). Multi-element analyses were determined by 4-acid digestion followed by Inductively Coupled Plasma Mass Spectrometry (ICP-MS), reporting 48 elements. Samples with >9,500 ppm As, Cu, Zn Pb were further analyzed with Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES). Samples with > 95ppm Ag were further analyzed with Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES). Au is determined by fire assay on a 50g split utilizing Atomic Absorption Spectroscopy (AAS). Samples with >9 ppm Au were further analyzed using fire assay fusion with gravimetric analysis.

See Iron Range Property Information and Map here

Iron Range Project Summary

The 20,021ha Iron Range Project located near Creston, BC, is owned 100% by Eagle Plains, subject to a 1% NSR held by a third party on a portion of the claim group. A well-developed transportation and power corridor transects the southern part of the property, including a high-pressure gas pipeline and a high-voltage hydro-electric line, both of which follow the CPR mainline and Highway 3. The rail line provides efficient access to the Teck smelter in Trail, B.C. The project is fully permitted with a Multi-Year Area Based (MYAB) permit in place issued by the BC Ministry of Mining and Critical Minerals that includes provisions for geophysical work, mechanical trenching, access trail construction and diamond drilling.

The Iron Range property covers an extensive area approximately 10km x 32km which overlies the regional Iron Range Fault System ("IRFS"). Prior to the acquisition by Eagle Plains in 2001, the property had seen little systematic exploration for other than iron resources known to exist on the property since the late 1800s. Since 2001, Eagle Plains and its partners have completed 21,593m of diamond-drilling in 87 holes, collected 2482 line-km of airborne and surface geophysical data and analysed 10,053 soil geochemical samples, 495 rock samples and 6955 drill core samples.

Drilling at Iron Range in 2010 resulted in the discovery of the Talon Zone, where drill-hole IR10-010 intersected 2 intervals of strong and continuous mineralization including 14.0m grading 5.1g/t gold, 1.86% lead, 2.1% Zinc, 75.3g/t silver and 7.1m grading 8.13g/t gold, 2.84% lead, 3.07% zinc, 86.6g/t silver (Eagle Plains news release December 21st, 2010). Previous drilling 10km north of the Talon Zone in 2008 by Eagle Plains intersected gold mineralization in drill-hole IR08006 which assayed 7.0m grading 51.52g/t (1.50 oz/ton) gold (Eagle Plains news release dated April 20th, 2009).

Mineralization at the Pyromorphite Zone (BC MinFile 082FSE141) was discovered in 2009 after construction of logging roads exposed sheared and brecciated sediments hosting cm-scale quartz veins bearing pyromorphite (lead) mineralization. No significant work has been completed at the zone since its initial discovery by the previous tenure holder. Rock (grab) sample SK10-207 reports 27.0 g/t Au, 173.0 g/t Ag, and 13.4% Pb (BC Assessment Report 31659). Rock (grab) sample MK10-170 reports 54.7 g/t Au, 42.2 g/t Ag, and 2.8% Pb (BC Assessment Report 31659). 2025 fieldwork at the Pyromorphite returned up to 13.4 g/t Au, 27.2 g/t Ag, > 10,000 ppm As, and 2.7% Pb from an in situ grab sample. (KBBIRR004) (Eagle Plains news release dated November 17, 2025). The poly-metallic (As-Pb-Zn) nature of the mineralization at the Pyromorphite Zone and the association between arsenopyrite (As) and Au mineralization are consistent with the structurally hosted mineralization that defines the Talon Zone target 12 km to the SW.

Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. Some of the above results were taken directly from MINFILE descriptions and assessment reports (ARIS) filed with the BC government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject properties. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.

Iron Range Option Agreement Details

To exercise the Option, Earthwise must make a series of cash payments and share issuances to Eagle Plains and fund exploration expenditures on the Project. These payments, share issuance and expenditures are separated into two phases, with the first Option entitling the Company to acquire a 70% interest in the Project by paying CA$250,000, issuing an aggregate of 1,500,000 common shares to EPL and funding CA$4,000,000 in exploration expenditures on the Project by over a four-year term. Pursuant to the second phase of the Option, the Company may acquire an additional 10% interest in the Project (for an 80% total interest) by notifying Eagle Plains of its intent to increase its interest to 80% and making an additional one-time payment of CDN$ 1,000,000 cash, and completing a bankable feasibility study on the Property, before the eighth anniversary of the Option.

If the First Option or the Second Option is exercised, a 2% smelter returns royalty will be granted to the Eagle Plains over the entire property, 1% of which may be repurchased for CA$1,500,000.

Eagle Plains will serve as Operator under the terms of Option and will reserve the right to use TerraLogic Exploration Inc. as geoscience consultant. Following the exercise of either Option 1 or 2, Earthwise and Eagle Plains shall then form a 70/30 or 80/20 joint venture ("JV") to further explore and develop the Property.

Qualified Persons

Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and an officer and director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.

About Eagle Plains Resources

Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.

The Company was formed in 1992 and is the fourth-oldest listed issuer on the TSX-V (and the only one of these four that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $115,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout, Eagle Royalties Ltd. (CSE:"ER") was listed on May 24, 2023, and on October 30, 2025, ER shareholders overwhelmingly approved a three-cornered amalgamation that resulted in a reverse takeover of Eagle Royalties by Summit Royalty Corp. The resulting issuer is named Summit Royalties Ltd. and trades under the symbol SUM on the TSX Venture Exchange with a market capitalization of over $100M.

On October 2, 2024, Eagle Plains announced the formation of a separate division within the Company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. ("OP") will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on Western Canada.

Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.

Expenditures from 2010-2025 on Eagle Plains-related projects exceed $41M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

On behalf of the Board of Directors of Eagle Plains

"C.C. (Chuck) Downie, P.Geo"
President and CEO

For further information on EPL, please contact Andrew Wilson at 1 866 HUNT ORE (486 8673)

Email: [email protected] or visit our website at https://www.eagleplains.com

Cautionary Note Regarding Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Eagle Plains Resources Ltd.

View the original press release on ACCESS Newswire

(P.Davis--TAG)