Eagle Plains Provides Update on Uranium City Uranium Projects and Announces Hiring of Andrew Wilson as Investor Relations Representative

The February 19, 2026, news release provides an operational update on the Uranium City projects and a corporate personnel appointment.

Uranium City Operational Update

• Eagle Plains has expanded its land position at the Don Lake-Smitty and Beaver River projects, adding a total of 4,227 hectares.
• Partner Xcite Resources Inc. has completed 697 line-km of airborne geophysical surveys over the project area.
• Under the existing option agreement, Xcite can earn an 80% interest in six projects (Gulch, Lorado, Beaver River, Black Bay, Don Lake, Smitty) by spending $19.2M in exploration, issuing 4.5M shares, and paying $330,000 in cash over four years.
• Eagle Plains retains a 20% carried interest until a bankable feasibility study (BFS) and a 2% NSR royalty on all properties.

Investor Relations Appointment

• Andrew Wilson has been hired as an Investor Relations Representative effective February 17, 2026.
• Compensation is set at $5,400 CAD per month plus stock options.

The news is a Routine - Positive update that reinforces the company’s "Project Generator" business model.

• Financial De-risking: The primary impact is the continued transfer of exploration risk and cost to a third party. The $19.2M expenditure commitment from Xcite is significant relative to Eagle Plains' $23M market cap.
• Strategic Validation: Expanding the claim blocks suggest that initial data (likely the 697 line-km survey) showed enough promise to warrant securing more ground before further results are public.
• Infrastructure/Operational Efficiency: The use of TerraLogic Exploration (a 100% owned subsidiary of Eagle Plains) as the operator for many partnered projects allows the company to generate service revenue while its properties are being explored on someone else’s dime.
• Investor Awareness: The hiring of an IR representative suggests management believes the company now has enough "news flow" (active drilling at George Lake and Dufferin West) to justify a dedicated marketing effort to attract capital.

Eagle Plains is a project generator with a massive portfolio of over 70 properties in Western Canada.

• Flagship (Internal): The George Lake Critical Metals Project is currently the 100% owned priority. It is a Sedex-style zinc-lead-silver target with a conceptual exploration target of 2-5 million tonnes at 3-5% Zinc.
• Flagship (Partnered): The Dufferin Project (Uranium) and Theory Project (Copper-Gold) are the most advanced partnered assets.
• Subsidiary: TerraLogic Exploration Inc. is a critical part of the business, providing geological services for both Eagle Plains and third parties, effectively reducing the corporate burn rate.