Eagle Plains Partner Refined Energy Files 43-101 Report on Dufferin Project with Recommendations for Drill Program at Dufferin West Targets
Eagle Plains Partner Refined Energy Files 43-101 Report on Dufferin Project
with Recommendations for Drill Program at Dufferin West Targets
Cranbrook, B.C., June 30th, 2025: Eagle Plains Resources Ltd. (TSX -V:EPL) (OTCQB: EGPLF)
(“EPL” or “ Eagle Plains ”) is pleased to announce that partner Refined Energy Corp (CSE: RUU;
OTC: RFMCF; FRA: CWA0) (“Refined” ) has filed a National Instrument 43 -101, Standards of
Disclosure for Mineral Projects, technical report for the Dufferin Project in the Athabasca Basin. A drill
program consisting of a minimum of four holes and 1,250 metres is recommended for the Dufferin West
targets at a budget of $2,062,500. The technical report is available under Refined’s Sedar+ profile.
The highest priority target area (see figure below) is represented by a conductor associated with the
interpreted trace of the Virgin River Shear Zone. It is a strong conductor associated with a distinct magnetic
transition. This conductor is interpreted to extend from the unconformity at the sandstone contact well into
the underlying basement rocks. The second conductor is also interpreted to extend from the unconformity
to a lesser distance into the underlying basement rocks. Neither target has ever been drill tested and the
depth of sandstone cover above the unconformity is estimated to be relatively shallow at less than 200m.
Uranium deposits in the Athabasca Basin are often located at or underneath the unconformity contact
between the overlying sandstone and the basement rocks.
Mark Fields, Chief Executive Officer of the Company stated, “It is exciting to be planning an initial drill
program for Refined Energy in the Athabasca Basin, renowned for its history of exploration, discovery,
and development of high value uranium mines. The Dufferin Project is located in proximity to NE -SW
trending faults which are known to host uranium mineralization. An example approximately 18 km north
of Dufferin West on the same Virgin River Shear Zone is Cameco’s Centennial deposit where historic drill
hole VR -031W3 intersected 8.78 per cent U 3O8 over 33.9 metres (SMAF 74G12 -0061)1. Our work is
focused on the discovery of potential high-grade deposits that characterize the Athabasca Basin.”
See Dufferin West Uranium Target Compilation Map here
Refined holds the exclusive option to acquire up to a 75% interest in the 10,140ha Dufferin Project, which
is made up of the North and West Dufferin properties.
See Dufferin West Property Information and Map here
See Dufferin North Property Information and Map here
The Dufferin Project is located on or in close proximity to the known trace of the Virgin River Shear Zone
and related splays which are key structures for potential uranium mineralization.
The Project is prospective for unconformity- and basement-hosted uranium mineralization in proximity to
the Virgin River Shear Zone. Faulted basement contacts and brittlely reactivated structures are the primary
locations for mineralization in the area covered by the Dufferin Project. The relatively high concentration
of secondary uranium-bearing minerals demonstrated by prior exploration work on the Dufferin Project
indicates uranium mineralization remobilization may play an important role in this region of the Athabasca
Basin. Geophysical EM and magnetic anomalies demonstrated by prior exploration work on the Dufferin
Project are supported by previous uranium and boron soil and lake sediment anomalies along the inferred
fault zones, which are expected to aid in focusing future exploration programs.
Some of the above results were taken directly from the SMDI descriptions and assessment reports (SMAF)
filed with the Saskatchewan government. Management cautions that historical results were collected and
reported by past operators and have not been veri fied nor confirmed by a Qualified Person, but form a
basis for ongoing work on the subject properties. Eagle Plains’ management cautions that past results or
discoveries on proximate land are not necessarily indicative of the results that may be achieved o n the
subject properties.
References
1 Witt, Gary and Brown, A.G., (2010): Cameco Corporation Virgin River Project 2009 Annual Exploration Report; SMAF 74G12-0061;
Dufferin Option Agreement Details
To exercise the Option, Refined must make a series of cash payments and share issuances to Eagle Plains
and fund exploration expenditures on the Project. These payments, share issuance and expenditures are
separated into two phases, with the first Option entitling the Company to acquire a 60% interest in the
Project by paying CA$275,000, issuing an aggregate of 1,000,000 post -consolidated common shares to
EPL and funding CA$2,600,000 in exploration expenditures on the Proj ect by December 31, 2026.
Pursuant to the second phase of the Option, the Company may acquire an additional 15% interest in the
Project (for a 75% total interest) by paying an additional CA$500,000, issuing an additional 500,000 post-
consolidated Shares to EPL and funding an additional CA$3,000,000 in exploration expenditures on the
Project by December 31, 2028. The Dufferin project is owned 100% by EPL, wh ich has been appointed
as Operator during the first Option period.
If the First Option or the Second Option is exercised, a 2% smelter returns royalty will be granted to Eagle
Plains, 1% of which may be repurchased for CA$2,000,000.
Qualified Person
Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a
director and officer of Eagle Plains, hereby identified as the “Qualified Person” under N.I. 43-101.
Update on Donna Property Option
Eagle Plains reports that is has received formal notice from option partner Annacotty Resources Corp.,
a private BC company, that it has terminated its option on EPL’s 100% owned Donna property located
70km east of Vernon, BC. The Donna Property is road-accessible and located within rocks of the prolific
Quesnellia Terrane, host to many major B.C. porphyry deposits such as Highland Valley, Gibraltar,
Mount Polley, Mount Milligan, Copper Mountain and others. Despite the rich endo wment of
mineralization in these rocks, the Donna area has seen relatively little exploration activity by industry
or government. Placer gold claims overlie many of the creeks draining the Donna Property. The project
area is consid ered to hold good potential to host intrusive -related gold mineralization. Management
cautions that past results or discoveries on proximate land are not necessarily indicative of the results
that may be achieved on the Donna property.
Since acquiring the property, Eagle Plains has carried out annual systematic exploration including
airborne radiometric and magnetic surveys, prospecting, geological mapping, soil and silt geochemical
sampling and 1152m (3779”) of diamond drilling in 12 holes. The property boasts a robust GIS database
consisting of rock, soil, silt, till, trench and drill -hole results within and adjacent the property area. In
July, 2020, EPL completed the purchase of historical crown grants covering workings documented at
the St. Paul and Morgan mines (BCMINFILE 082LSE010), which include shafts, tunnels, winzes and
an unknown number of open cuts and trenches, as well as a tramline and stamp mill that operated in the
early 1900’s.
See Donna Property Information and Map here
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well -funded, prolific project generator that continues to
conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical
metals integral to an increasingly electrified, decarbonized economy.
The Company was formed in 1992 and is the fourth-oldest listed issuer on the TSX -V (and the only one
of these four that has not seen a roll -back or restructuring of its shares). Eagle Plains has continued to
deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000
in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable
examples. Eagle Plains latest spinout, Eagle Royalties Ltd. (CSE:“ER”) was listed on May 24, 20 23,
and holds a diverse portfolio of royalty assets throughout western Canada.
On October 2, 2024, Eagle Plains announced the formation of a separate division within the Company that
will give Eagle Plains’ shareholders direct exposure to strategic opportunities in Canadian green energy
transition. As a wholly owned subsidiary of Eag le Plains, Osprey Power Inc. (“OP”) will focus on
identifying and advancing innovative and diverse clean energy project portfolios in target markets
throughout Canada, with an initial focus on Western Canada.
Eagle Plains’ core business is acquiring grassroots critical- and precious-metal exploration properties. The
Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of
projects toward discovery through collaborative partnerships and development of a highly experienced
technical team.
Expenditures from 2010-2023 on Eagle Plains-related projects exceed $39M, the majority of which was
funded by third -party partners. This exploration work resulted in approximately 50,000m of diamond -
drilling and extensive ground-based exploration work facilitating the advancement of numerous projects
at various stages of development.
Throughout the exploration process, our mission is to help maintain prosperous communities by exploring
for and discovering resource opportunities while building lasting relationships through honest and
respectful business practices.
On behalf of the Board of Directors of Eagle Plains
“C.C. (Chuck) Downie, P.Geo”
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: [email protected] or visit our website at https://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc. Forward-looking statements address future
events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements.