Eagle Plains/Annacotty Resources Announce 2023 Field Program at the Donna Gold Property, South-central, BC
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Eagle Plains/Annacotty Resources Announce 2023 Field Program at
the Donna Gold Property, South-central, BC
Cranbrook, B.C., August 8th, 202 3: Eagle Plains Resources (TSX -V:EPL), (“EPL”) has been
notified by option partner Annacotty Resources Corp. (a private B.C. company) (“Annacotty”), that
field crews are being mobilized to Eagle Plains’ 100% owned Donna Property (the “Property”). EPL
currently holds a 100% interest (less an underlying NSR) in the 11,494 ha Property located
approximately 70 km east of Vernon, BC. Under terms of the amended option agreement, Annacotty can
earn it's 60% interest by completing exploration expenditures of $4,0 80,000, making cash payments of
$520,000 and issuing 1,300,000 common shares to EPL over a five-year period.
2023 fieldwork will be caried out by TerraLogic Exploration Services of Cranbrook BC and is planned
to include:
• prospecting, soil sampling and geological mapping on the Big Link Zone, along trend from the
historic St. Paul following up on coincident soil and airborne geophysical targets generated from
previous work
• prospecting and mapping at the Yeo Link Zone where coincident airborne magnetic signature
and historic silt sampling results suggest a buried, mineralized diorite intrusion
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 endowment 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. Ma nagement cautions that past results or
discoveries on proximate land are not necessarily indicative of the results that may be achieved on the
Donna property.
See Donna Project Summary Map here
The core claims of the Donna property were acquired in 2016 by Eagle Plains with additional tenures
subsequently added through staking. Certain claims comprising the property are subject to an underlying
2% royalty held by an arms -length third party. The project area is located in the Monashee Mountains
within the source headwaters of the historic Kettle River and Yeoward Creek placer gold camps. The
claims lie within one of the largest clusters of anomalous values in gold and typical associated pathfinder
elements identified in the British Columbia Regional Geochem ical Surveys stream -sediment program
carried out in the joint Federal - Provincial programs from 1985-1990.
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The Donna property is underlain by a sequence of marine sediments comprising carbonaceous black
argillite, limestone, and volcanic rocks of Permian to Lower Triassic age. Locally these rocks were
intruded by stocks and plugs of mafic -intermediate composition. The project area is considered to hold
good potential to host intrusive-related gold mineralization.
Since acquiring the property, Eagle Plain s 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 0 82LSE010), 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.
Charles C. Downie, P.Geo., a “qualified person” for the purposes of National Instrument 43-101 - Standards
of Disclosure for Mineral Projects and a director of Eagle Plains, has prepared, reviewed, and approved the
scientific and technical disclosure in the news release.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plain s is a well -funded, prolific project generator that continues to
conduct research, acquire and explore mineral projects throughout western Canada. The Company was
formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three 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 Res ources and Taiga Gold Corp. being notable examples. Eagle
Plains latest spinout, Eagle Royalties Ltd. (CSE:”ER”) was listed on May 24, 2023, and holds a diverse
portfolio of royalty assets throughout 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 2011-2022 on Eagle Plains-related projects exceed $30M, the majority of which was
funded by third -party partners. This exploration work resulted in approximately 45,000m 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 opp ortunities while building lasting relationships through honest and
respectful business practices.
On behalf of the Board of Directors
“Tim J. Termuende”
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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.