Eagle Plains Adds Additional Dispositions at the Pine Channel Au Project, Northern Saskatchewan
Eagle Plains Adds Additional Dispositions at the Pine Channel Au Project, Northern
Saskatchewan
Cranbrook, B.C., May 5, 2026: Eagle Plains Resources Ltd. (TSX-V:EPL) (OTCQB: EG PLF)
(“EPL” or “Eagle Plains”) is pleased to announce that it has acquired, through the MARS online tenure
system, additional mineral dispositions contiguous with it’s 100% owned Pine Channel Property, located
approximately 40km km west of Stoney Rapids, Saskatchewan. The three dispositions total 996.3ha,
increasing the Pine Channel project area to a total of 6059 ha, and cover a Saskatchewan Mineral Deposit
Index (SMDI) occurrence.
The Pine Channel property is subject to a 2% NSR held by Summit Royalties, which includes a 1% buy-
back clause to Eagle Plains.
SMDI 2329 Drill Holes G-1 to G-3 are located 2.98 km north of the ELA Showing (SMDI 2329). These
BQ holes were drilled to test a narrow set of quartz veins over 100 m of strike hosted within sheared
biotite-feldsparquartz gneiss. The quartz-carbonate veins are mineralized with pyrite, pyrrhotite and minor
sphalerite. Hole G-1 assayed 1.03 g/t Au from 42.0- 45 m including 1.66 g/t Au from 43- 44.0 m, 3.20 g/t
Au from 51.5-52.5 m and 1.00 g/t from 59.0-59.6 m. Hole G-3 assayed 0.32 g/t Au from 32.8-33.8 m and
0.30 g/t Au from 34.2-35.5 m.
The most recent work at Pine Channel was a 6-day field program completed in 2025. Fieldwork followed
up on encouraging results from 2020, with refined targeting provided by the compilation and interpretation
of airborne magnetic and LIDAR results obtained in 2022 and 2024. 2025 analytical results from rock
sampling ranged from trace values to a highest value of 427g/t Au (grab sample) , with eleven samples
returning over 3 g/t Au, including 4 samples over 34 g/t Au. The highest-grade mineralization from the
2025 program was concentrated at the Pit and ELA occurrences, where sampling returned gold grades (up
to 427 g/t Au) with consistently anomalous silver (up to 111 g/t Ag), and associated pathfinder elements
arsenic and antimony.
Sampling of targets identified through lineament analyses in the areas of known mineralization confirmed
the potential for additional gold bearing structures. The program was managed by TerraLogic Exploration
Inc. of Cranbrook, BC.
(see EPL NR – Eagle Plains Reports up to 427g/t Au at the Pine Channel Gold Project)
Comprehensive data interpretation and analyses is underway to define and prioritize targets for diamond
drill testing.
See Pine Channel Property Information and Map here
The Pine Channel Property consists of 30 mineral dispositions covering 6059 hectares located
approximately 40 km west of Stony Rapids, Saskatchewan which is the logistics/business hub for
northern Saskatchewan. The property can be accessed year -round by float - or ski-equipped aircraft
from Stony Rapids or Fort McMurray, AB. The eastern and northern part of the property is transected
by a high voltage powerline. Most geological fieldwork is limited to late May to October but other
operations such as geophysical surveys and diamond drilling can be completed year-round.
Pine Channel Property Highlights:
Highlights from documented historical work and previously reported results include:
• Algold Bay: 63.5 g/t Au over 0.6 m (drill hole) (SMDI 1575)
• North Norite Bay: 407.96 g/t Au over 0.5 m (drill hole) (SMDI 2183)
• ELA: 39.96 g/t Au over 0.55 m (drill hole) (SMDI 1574)
• Holes G-1 and G-3: 3.20 g/t Au over 1 m (drill hole) (SMDI 2329)
• Occurrence No. 6/Occurrence No. 8: 90.6 g/t Au over 0.2 m (trench sample) (SMDI 1581)
• Cole Lake Ni-Cu: 0.45% Ni over 7.0 m (drill hole), 6.2 g/t Au, 0.01% Ni and 0.06% Cu over 3.0
m (trench sample) (SMDI 1583)
• Multiple untested geophysical anomalies and mineralized trends associated with favourable
geology
The main deposit type that is being explored for at Pine Channel is structurally controlled vein- quartz
(lode) gold deposits. Mineral occurrences on the Pine Channel Property contain predominantly gold,
with rare base metal occurrences. Within the Pine Channel tenures there are twenty documented
historical showings.
Government mapping in the Pine Channel area dates from 1913, with the first industry work reported
in 1950. A total of 51 assessment reports have been filed within the current Pine Channel tenure area.
Past operators include Golden Rule Resources Ltd. and Colchis Resources Ltd. who were both active
on the project during the 1980’s, the last sustained period of exploration in the area. The most recent
work prior to Eagle Plains acquiring the claims in 2018 was in 2013 when the area was flown with an
airborne Variable Time Domain Electromagnetic (“VTEM”) survey focused on locating targets for
diamond exploration. There has been a total of 6,066 metres of diamond drilling in 115 historic holes
completed within the current Pine Channel property claim boundaries, with the majority of the holes
completed less than 100 metres in length. Although the wide -spaced drilling did intersect significant
gold mineralization in places, much of the drilling was completed using thin diameter core which is
considered ineffective for assessing the high- grade “nuggety” gold shears and veins found at Pine
Channel.
Since acquiring the property, Eagle Plains has completed field programs focused on prospecting and
mapping in areas of known mineral occurrences. The work confirm s the widespread occurrences of
auriferous quartz veins and associated shear systems in the Pine Channel property. Analytical results
from the seventy-two rock samples collected in 2020 range from 6 ppb Au to 68,400 ppb Au (68.4 g/t
Au). Twenty-three of the samples returned greater than 1 g/t Au, and eight returned greater than 10 g/t
Au. The most encouraging of the known showings are the ELA Shaft showing (SMDI 1574) and
Occurrence No. 6 and No. 8 (SMDI 1581), which both demonstrate anomalous gold geochemical
results and potential for extension of known mineralization along strike.
2022 and 2024 work included a helicopter-borne high-resolution aeromagnetic and radiometric survey
and a high-resolution LiDAR and orthophoto survey. Lineation analyses of the LiDAR imaging,
combined with the aeromagnetic data, defined a number of new target areas adjacent to and along strike
from known mineralization, which will be priority targets for future exploration.
Rock grab samples are selective samples by nature and as such are not necessarily representative of the
mineralization hosted across the property. Some of the above results were taken directly from the SMDI
descriptions and assessment reports (SMA D) filed with the Saskatchewan government. Management
cautions that historical results were collected and reported by past operators and have not been verified
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 on the subject properties.
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.
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 thr ough numerous spin outs has transferred over
$115,000,000 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, 2023, and on October 30, 2025, ER shareholders overwhelmingly approved a three-
cornered amalgamation that resulted in a reverse takeover of Eagle Royalties by Summit Royalty Corp.
The resulting issuer is named Summit Royalties Ltd. and trades under the symbol SUM on the TSX
Venture Exchange with a market capitalization of over $100M.
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 Eagle 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- 2025 on Eagle Plains -related projects exceed $ 41M, 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 Andrew Wilson 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.