Eagle Plains to sell Ketch, Portland to Kodiak Copper

Executive Summary

• Eagle Plains Resources Ltd. has entered into a definitive agreement to sell a 100% interest in its Ketch and Portland properties in the Nicola District, British Columbia, to Kodiak Copper Corp.
• The transaction consideration consists of 300,000 shares of Kodiak stock, with Eagle Plains retaining a 2% Net Smelter Return (NSR) royalty, including a buyback option for 1% of the NSR for $1.75 million.
• The Ketch and Portland properties are contiguous with Kodiak’s MPD project and are adjacent to the Ketchan deposit, serving to consolidate Kodiak’s regional holdings.

Key Details

• Transaction Structure: Eagle Plains sells 100% interest in Ketch and Portland projects to Kodiak Copper Corp.
• Consideration: 300,000 shares of Kodiak Copper Corp.
• Royalty Terms:
  • Eagle Plains retains a 2% Net Smelter Return (NSR) royalty on the claims.
  • Kodiak retains the right to buy back 1% of the NSR for $1.75 million.
• Property Details:
  • Ketch Property: 1,210 hectares.
  • Portland Property: 104 hectares.
  • Location: South-central British Columbia, 37 km north-northwest of Princeton and 40 km southeast of Merritt.
  • Geology: Highly prospective for porphyry-related copper-gold mineralization.
  • Proximity: Immediately adjacent to the Ketchan deposit (part of Kodiak’s MPD project initial mineral resource estimate); contiguous with Kodiak’s MPD project.
  • Access: Bisected by a high-powered transmission line; accessible via Highway 5A and maintained road network.
• Conditions: The agreement is subject to approval by the TSX Venture Exchange and other customary conditions.
• Company Context: Eagle Plains is a project generator with a history of spinouts (e.g., Copper Canyon, Taiga Gold, Eagle Royalties). The release notes the formation of Osprey Power Inc. as a subsidiary for green energy opportunities and mentions the pending RTO of Eagle Royalties by Summit Royalty Corp.

Notable Quotes

• "We are very pleased to have reached an agreement with Kodiak to help them further consolidate the MPD project... This agreement represents a solid return on investment for Eagle Plains while maintaining upside exposure with our equity position in Kodiak and a royalty." — Jesse Campbell, Vice-President of Exploration, Eagle Plains Resources Ltd.