Eagle Plains' Partner Sun Summit Minerals Commences Fieldwork at the Theory Project, Toodoggone District, BC

Eagle Plains Resources Ltd. (EPL) announced the start of Phase 2 fieldwork at its 100%-owned Theory copper-gold project in British Columbia, which is managed by partner Sun Summit Minerals. The company completed Phase 1, which consisted of a MobileMT airborne survey. Phase 2 will involve 28 days of prospecting, mapping, and geochemical sampling, while Phase 3 is scheduled to add up to 22 line-km of IP geophysics. The budget for the 2026 program is approximately $700,000.

The company highlighted 2025 grab sample results from the project. Highlights include:

• Saboteur Zone: up to 4.78% Cu
• BEV Zone: up to 1.44% Cu
• Fred-DM-DMR Zone: up to 6.42% Cu, 12.6 g/t Au, and 3,150 g/t Ag

Petrographic analysis indicates strong epidote-chlorite-carbonate alteration associated with hypogene copper mineralization, which is interpreted as the inner shell of a porphyry system. Additionally, the company applied to extend 2,220,750 common share purchase warrants by 12 months to August 2, 2027, maintaining the $0.30 exercise price and acceleration clauses. No direct quotes from management were included in the release.

Eagle Plains Resources Ltd. (EPL) issued an exploration update and corporate housekeeping announcement regarding a warrant extension, rather than an earnings or financing release. The fieldwork progression at the Theory project aligns with the company’s stated project-generator model and prior announcements concerning the Sun Summit option agreement. The warrant extension represents standard practice intended to avoid dilution or cancellation, without altering the fundamental risk profile or near-term catalysts. Given the stock's recent consolidation and the exploratory nature of the news, the market impact is expected to be muted. The release does not contain new financial data, production updates, or material option exercises.

Eagle Plains Resources Ltd. (EPL) operates as a project generator and exploration services provider, acquiring mineral properties and advancing them through its in-house geological expertise, TerraLogic. The company monetizes these assets via option agreements, royalties, and corporate incubation.

The company’s portfolio includes several key assets across British Columbia and Saskatchewan. In British Columbia, the Theory project is a copper-gold porphyry target covering 9,676 hectares and is optioned to Sun Summit. The Iron Range project, a polymetallic gold-silver-lead-zinc deposit, is optioned to Earthwise. In Saskatchewan, Eagle Plains 100% owns the George Lake SEDEX zinc-lead project and the Pine Channel gold project. Additionally, the Dufferin West uranium project is optioned to Refined Energy, while six uranium properties under the Uranium City Projects are optioned to Xcite Uranium. The company also holds Osprey Power, a renewable energy subsidiary.

Management includes CEO Chuck Downie, Chair Tim Termuende, and VP Exploration Jesse Campbell, all of whom hold P.Geo. or relevant technical credentials.