Eagle Plains/37 Capital Execute Option Agreement for Acacia Project, Central British Columbia
Eagle Plains/37 Capital Execute Option Agreement for Acacia Project,
Central British Columbia
Cranbrook, B.C., September 30th, 2019: Eagle Plains Resources Ltd. ( “EPL”:TSX-V, or “Eagle
Plains”) has executed an option agreement with 37 Capital Corp. (“JJJ”:CSE) or (“37”) whereby 37
may earn up to a 60% interest in the 4734ha Acacia property located 45.0 km north of Kamloops in central
British Columbia. The property area has been held by Eagle Plains s ince 2001 and carries no underlying
royalties or encumbrances. Under terms of the agreement, 37 may earn a 60% interest by completing
$2,500,000 in exploration expenditures and issuing 300,000 voting-class common shares to Eagle Plains
over 4 years (subject to regulatory approval) . The above-referenced agreement supersedes an agreement
with CRC Minerals Inc. (see EPL NR January 15th, 2018) which has been terminated by mutual agreement
of the respective parties.
Acacia Project Summary
See Acacia Project Map
The Acacia property is considered to have excellent potential for hosting volcanogenic massive su lphide
(“VMS”) deposits. These deposits typically contain both base and precious metals, and occur in clusters
and/or stacked lenses. The property covers a fertile stratigraphic assemblage which hosts a number of
nearby, on-strike base and precious -metal VMS deposits including the Rea Gold, K7, Twin 3 and past-
producing Samatosum Mine, located approximately 2.5 km northwest of current property boundary. Past
drilling within target stratigraphy northwes t of current property boundary returned values from trace
quantities up to 10.6 g/t Au, 335.3 g/t Ag, 3.13 % Zn, 2.74% Pb, and 0.55% Cu over 2.37 m. Eagle Plains
management cautions that past results or discoveries on proximate land are not necessarily indicative of
the results that may be achieved on the Acacia property.
Extensive work in the area was completed following the discovery of the Samatosum and Rea deposits in
the mid-1980s. Geological mapping, geophysical surveys, thousands of soil samples and over 125 drill-
holes were completed in target stratigraphy within 4 .0 km of current Acacia claim boundaries but
exploration in the area and elsewhere in the province virtually ceased during the mining downturn in
British Columbia following the Windy Craggy decision in 199 3. Previous fractured ownership and the
cessation of work in the 1990s resulted in large gaps in drilling of high-potential stratigraphy within current
Acacia property boundaries.
A comprehensive compilation and target generation exercise was completed by Eagle Plains in early 2017
which included 13,461 soil, 1023 rock and 51 silt samples, 45 trenches, 26 drill -holes and numerous
geological and geophysical surveys from past operators Homestake Minerals, Omni Resources,
Falconbridge Copper and Esso Minerals.
Fieldwork during the summer of 2017 was carried out by TerraLogic Exploration Ltd. of Cranbrook B.C.
which included soil geochemical sampling and prospecting.
Technical aspects of this news release have been reviewed and approved by Charles C. Downie , P.Geo.,
“qualified person” for the purposes of National Instrument 43 -101 - Standards of Disclosure for Mineral
Projects, and a Director of Eagle Plains Resources Ltd.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. The Company is committed to steadily enhancing shareholder value by
advancing our diverse portfolio of projects toward dis covery through collaborative partnerships and
development of a highly experienced technical team. Managements’ current focus is to preserve its
treasury while advancing its most promising exploration projects. In addition, Eagle Plains continues to
seek ou t and secure high -quality, unencumbered projects through research, staking and strategic
acquisitions. Since 2012, Eagle Plains has added to its portfolio a number of new projects exceeding
130,000 ha targeting mainly gold, uranium and base-metals in Saskatchewan, a highly-prospective mining
jurisdiction which was recently recognized by the Fraser Institute as the second best place in the world in
terms of Investment Attractiveness. 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.
Expenditures from 2011-2018 on Eagle Plains-related projects exceed $20M, most of which was fun ded
by third-party partners. This exploration work resulted in approximately 30,000 m of diamond-drilling and
extensive ground-based exploration work facilitating the advancement of numerous projects at various
stages of development.
On behalf of the Board of Directors
“Tim J. Termuende”
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 http://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.