American Eagle Closes Option Agreement, Expanding Babine District Land Package to Approximately 9,283 Hectares
American Eagle expands its Nak district footprint by 470% through the close of the Hearne Hill option agreement.
American Eagle Gold Corp. has finalized an option agreement with Eagle Plains Resources Ltd. to earn up to an 80% interest in three claim groups—Hearne Hill South, Jinx, and NAK NW—that adjoin its NAK copper-gold porphyry project in British Columbia. The transaction expands the NAK Project land package from approximately 1,632 hectares to approximately 9,283 hectares, representing a roughly 470% increase.
To secure the interest, American Eagle must meet earn-in obligations requiring $4,850,000 in exploration expenditures, $400,000 in cash, and the issuance of 1,200,000 common shares over a six-year period ending December 31, 2031. The company may increase its interest to 80% via a one-time $1,000,000 payment. Eagle Plains retains a 2.0% Net Smelter Return (NSR) royalty, with 1.0% repurchasable for $2,500,000.
The deal received conditional TSX Venture Exchange approval and is subject to final regulatory sign-off. Exploration on the new ground will run parallel to the ongoing 55,000-metre NAK drill program, with no expected diversion of capital or resources.
American Eagle Gold Corp. (AE) has closed an option that serves as a direct follow-up to the July 28, 2026 announcement and the June 2026 termination of the Pacific Booker Minerals takeover bid. This move validates management’s pivot from an acquisition strategy to a district consolidation strategy.
The transaction features a staged earn-in structure requiring $4.85 million in spend, $400,000 in cash, and shares over six years. Given the company’s reported cash position of approximately $50 million or more, this structure is manageable and does not create immediate dilution or cash flow strain.
The expansion secures a larger district footprint, with geophysical and geochemical anomalies coincident with the Babine Igneous Suite, supporting the long-term district-scale thesis. The news aligns with previous guidance and does not alter the near-term execution roadmap.
American Eagle Gold Corp. is an exploration-stage company focused on the NAK copper-gold porphyry project in the Babine district of central British Columbia. The project features a large, near-surface mineralized system extending from surface to depths exceeding 800 metres, with a footprint of approximately 1.5 km x 1.7 km. Recent drilling has highlighted the South Zone, delivering continuous, high-grade intercepts, including 1,001 metres of 0.46% CuEq starting at surface.
The company benefits from excellent infrastructure, including all-season road access, proximity to rail lines, and nearby hydro transmission lines. The project is currently in the advanced exploration phase, targeting a maiden MRE and PEA in 2027.