American Eagle Closes Option Agreement, Expanding Babine District Land Package to Approximately 9,283 Hectares

American Eagle Gold Corp. has closed an option agreement with Eagle Plains Resources Ltd. to earn up to an 80% interest in three claim groups adjoining its NAK copper-gold porphyry project in British Columbia. The transaction, combined with independent staking, expands the NAK Project land package from approximately 1,632 hectares to approximately 9,283 hectares, representing a ~470% increase. The deal received conditional approval from the TSX Venture Exchange and remains subject to final approval.

Under the transaction structure, American Eagle may earn an initial 60% interest by completing $4,850,000 in exploration expenditures, paying $400,000 in cash, and issuing 1,200,000 common shares, staged over six years ending December 31, 2031. Upon closing, the Company paid $20,000 in cash and issued 50,000 common shares to the optionor. Obligations through the end of 2027 total $600,000 in expenditures, $100,000 in cash, and 200,000 shares. American Eagle may increase its interest to 80% through a one-time payment of $1,000,000, up to half of which may be paid in shares. Upon exercise of the initial option, the optionor retains a 2.0% net smelter return (NSR) royalty, 1.0% of which may be repurchased for $2,500,000. American Eagle is the operator and pays no operator fee during the earn-in period.

The expanded ground hosts geophysical and geochemical anomalies coincident with Babine Igneous Suite intrusive rocks. Prior work includes a 286 line-kilometre high-resolution airborne magnetic survey, >32 line-kilometres of soil sampling, and prospecting returning copper-mineralized samples. The 2026-2027 program will involve data compilation, 3D inversion, infill soil sampling, mapping, and ground geophysics to define drill targets. This work runs alongside the 55,000-metre NAK drill program and is not expected to divert resources.

American Eagle now controls ~6,142 hectares (62.5%) of the 9,834-hectare Morrison land package formerly held by Pacific Booker Minerals. The optioned claims lie along trend from, and within 4.5 km of, the NAK deposit, with road access and nearby hydro transmission lines.

"Closing this agreement gives NAK a larger footprint in the Babine district... With approximately $50 million in cash, we can advance this ground without slowing the NAK program. Our focus remains discovery, first at NAK and now across the expanded land package," said Anthony Moreau, Chief Executive Officer.