EagleOne Enters into Letter of Intent to Acquire Poison Springs Uranium/Rare Earths Project

Executive Summary

• EagleOne Metals entered a binding LOI to purchase 100% of the Poison Springs Uranium/Rare Earths Project (206.6 acres, 10 mineral claims) for US$50,000, pending a definitive purchase agreement and CSE filing.
• The property hosts historic drill results showing uranium, rare earth elements, copper, silver, cobalt, nickel, neodymium, prasneodymium and europium, with additional targets at <100 m depth.
• Acquisition positions EagleOne to expand its portfolio into Utah’s frontier uranium/REE district and could enable future exploration financing and development.

Key Details

• Transaction: Binding Letter of Intent (LOI) for 100% interest in the Poison Springs Project.
• Purchase Price: US $50,000 payable upon execution of a definitive mineral property purchase agreement.
• Conditions: Execution of formal agreement with standard representations and warranties; acceptance by the Canadian Securities Exchange for filing.
• Property Description: 10 mineral claims covering 206.6 acres located ~35 mi south of Hanksville, Utah.
• Historical Drilling (2008): Multiple mineralized intercepts containing uranium, REEs (neodymium, prasneodymium, europium), copper, silver, cobalt, nickel.
• Adjacent Activity: Nearby Hatch Canyon (10 mi east) drilled by Cotter Corp. in 1978‑79 with widespread mineralization; additional historic drilling at Happy Canyon, Sams Box Canyon, Twin Corral Canyon.
• Potential Targets: Triassic Chinle horizon (<100 m depth) with prospective copper, vanadium, zinc, nickel, cobalt and REE mineralization.
• Strategic Rationale: Adds a uranium/rare‑earths asset to EagleOne’s portfolio, diversifying beyond its existing gold project in Quebec and providing a platform for future exploration and value creation.

Notable Quotes

• “The acquisition of the Poison Springs Project expands our strategic footprint into a region with significant uranium and rare‑earth potential, aligning with our goal to unlock shareholder value through disciplined exploration.” – Matthew Markin, President & CEO, EagleOne Metals Corp.