Eagle Plains partner completes Theory project program

Executive Summary

• Eagle Plains Resources Ltd. partner Sun Summit Minerals Corp. has completed its 2025 field program at the Theory copper-gold project in the Toodoggone District, British Columbia.
• The program identified significant new targets and alteration assemblages, including a potential large, buried porphyry system at the Bev showing area and new mineralized zones at Saboteur and Fred-DM.
• Geochemical and assay results from 257 rock grab samples, 417 soil samples, and 27 silt samples are pending and will be reported upon receipt and interpretation.

Key Details

• Project Ownership & Structure: The Theory project is 100% owned by Eagle Plains Resources Ltd., with an underlying 0.5% net smelter royalty held by a third party. Sun Summit has an exclusive option agreement to earn up to a 100% interest.
• Bev Showing Area: Preliminary mapping suggests potential for a large, buried porphyry system. Widespread epidote-carbonate plus/minus chlorite plus/minus hematite alteration is associated with copper mineralization (chalcopyrite, bornite, or chalcocite) in epidote-carbonate-quartz veining/fractures.
• Saboteur Zone: A new target identified in 2025, located northeast of the main Bev showing area. It represents a ~3 km length zone of chalcopyrite, bornite, and chalcocite mineralization associated with a northeast-trending magnetic high.
• Fred-DM Area: Prospecting focused on a ~5 km linear magnetic low trend. Mineralized veins and fractures are spatially associated with north-northeast-trending barite veins. There is over 150 meters of continuous barite vein exposure up to 4 meters thick, with subcrop/float exposures suggesting strike length of copper mineralization in excess of a kilometer.
• STIK1 Area: Fieldwork identified epithermal style alteration and mineralization within a granodioritic to dioritic intrusion and in metasediments along the intrusive contact.
• Sampling Statistics: A total of 257 rock grab samples, 417 soil samples, and 27 silt samples were collected.
• Historical Context: The last significant fieldwork was over 30 years ago. Historical work in 1988 documented low-sulphidation epithermal-related mineralization, including quartz-barite veins with up to 8.2 g/t Au, 195 g/t Ag, and 6.2% Cu at the DM occurrence.
• Option Agreement Terms:
  • Phase 1: Sun Summit can acquire a 75% interest by paying $255,000, issuing 750,000 common shares, and funding $3 million in exploration expenditures over four years (including diamond drilling in years 3 and 4).
  • Phase 2: Sun Summit can acquire an additional 25% (for 100% total) by paying $1 million cash (half may be paid in shares).
  • Royalty: A 2% smelter returns royalty is granted upon exercise, with 1% repurchasable for $1 million.
• Geological Setting: The 9,676-hectare project is located in the Toodoggone mining district, known for epithermal gold and porphyry copper-gold deposits. The property encompasses the Jurassic-Triassic unconformity (the "red line"), which has a high spatial correlation to known deposits in the Golden Triangle and Toodoggone.
• Recent Regional Activity: The area has seen recent success from Thesis Gold (Lawyers-Ranch project) and Amarc Resources (Joy project).

Notable Quotes

• "The last significant boots on the ground fieldwork at the Theory property was over 30 years ago," commented Chuck Downie, president and chief executive officer of Eagle Plains Resources. "The discovery of new mineralized zones as well as identifying widespread porphyry indicators underscores the potential for a significant copper-gold mineralizing system at Theory. We look forward to the results and to working with Sun Summit to advance the project to drill testing."