Eagle Plains and Pacific Bay Minerals Execute Option Agreement for Haskins Critical Minerals Project, British Columbia

Eagle Plains Resources Ltd. (EPL) and Pacific Bay Minerals executed an option agreement granting Pacific Bay the exclusive right to acquire up to 100% of the 578-hectare Haskins Critical Minerals Project in British Columbia. Pacific Bay must pay Eagle Plains 4,250,000 common shares of PBM over four years, contingent on completing $900,000 in exploration expenditures.

The Haskins property is contiguous with Pacific Bay's Haskins-Reed property, creating a combined ~1,850-hectare exploration footprint. The project carries a 2% NSR payable to a third party; Eagle Plains holds the right to repurchase 1% for $1,000,000.

Eagle Plains Resources Ltd. (EPL) has entered into a standard option agreement to monetize a non-core asset, securing $900,000 in exploration funding and granting the company equity in Pacific Bay Minerals. The transaction does not represent a transformative event or a deviation from the company's business model. The share consideration is diluted across a large share base, and the market has likely already priced in the steady cadence of such project generator deals.

Eagle Plains Resources Ltd. (EPL) operates as a project generator, acquiring and exploring mineral properties in British Columbia and Saskatchewan. The company leverages its in-house geological team, TerraLogic Exploration, to execute exploration programs for partners and third parties. Its portfolio includes over 20 projects targeting uranium, gold, copper-gold, and base metals. Key active programs include Dufferin West (uranium), George Lake (Zn-Pb), Theory (Cu-Au), Iron Range (Au-Pb-Zn), and the Uranium City district projects. The company structures option agreements to transfer exploration risk to partners while retaining equity stakes and net smelter royalties.