Eagle Plains Completes Royalty Agreement with Denison Mines
Eagle Plains Completes Royalty Agreement with Denison Mines
Cranbrook, B.C., December 13th, 201 8: Eagle Plains Resources Ltd. (TSX-V: “EPL”) has
completed a tri-party agreement with Tarku Resources Ltd. (TSX-V-“TKU”) and Denison Mines Corp.
(TSX-“DML”; NYSE American -“DNN”) whereby Denison Mines has purchased the 1 ,334 hectare
Virgin River property which is contiguous with Denison’ s South Dufferin Project located immediately
south of the Athabasca Basin in northern Saskatchewan. The property is interpreted to overlie the Virgin
River Shear /Snowbird Tectonic Zone, a regional -scale geologic feature which is associated with
Cameco’s Centennial Deposit located 40 kilometres northeast of the property. As per the terms of the
agreement, Denison will reserve in Eagle Plain’s favour a 2% Net Smelter Return (“NSR”) royalty on all
future production relating to the disposition. This royalty can be reduced at any time to a 1% NSR
royalty by paying Eagle Plains $CDN 1,000,000.
This royalty agreement str engthens Eagle Plain’s exposure to potential future production in various
uranium camps in Saskatchewan including Patterson Lake South area, where the company owns NSR
royalty interests on claims now held by Cameco Corporation, Denison Mines and ALX Uranium.
About Eagle Plain’s Royalty Portfolio:
Eagle Plains holds various royalties throughout British Columbia, Yukon and Saskatchewan for a variety
of commodities including gold, silver, lead, zinc, copper and uranium. Partner companies include S SR
Mining (formerly Silver Standard Resources Ltd.), Cameco Corporation, Denison Mines, Orano Canada
(formerly AREVA Resources), UEX, Barkerville Minerals, Alexco and others. These royalties require
no financial commitment on Eagle Plain’s part, but provide consider able upside to cost -free benefits
from future production.
About Denison Mines Corp.:
Denison is a uranium exploration and development company with interests focused in the Athabasca
Basin region of Northern Saskatchewan, Canada. In addition to its 90 % owned Wheeler River project,
which ranks as the largest undeveloped high -grade uranium project in the infrastructure rich eastern
portion of the Athabasca Basin region, Denison's Athabasca Basin exploration portfolio consists of
numerous projects covering a pproximately 320,000 hectares. Denison's interests in Saskatchewan also
include a 22.5 % ownership interest in the McClean Lake joint venture, which includes several uranium
deposits and the McClean Lake uranium mill, which is currently processing ore from the Cigar Lake mine
under a toll milling agreement, plus a 25.17 % interest in the Midwest and Midwest A deposits, and a
65.92% interest in the J Zone and Huskie deposits on the Waterbury Lake property.
Denison is also engaged in mine decommissioning and e nvironmental services through its Denison
Environmental Services division and is the manager of Uranium Participation Corp., a publicly traded
company which invests in uranium oxide and uranium hexafluoride.
About Tarku Resources Ltd.:
Tarku is an exploration company focused on generating sustainable projects for precious and base metals
by conducting exploration in areas with strong geologic potential and high levels of social acceptability.
Project generation is the foundation of mining developmen t, and Tarku’s vision is to generate
exploration projects with excellent potential for mining development for prospective partners or buyers.
For more information, please visit the Company’s website.
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 discovery through collabor ative 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 out 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 ex ploring for and discovering resource opportunities while building lasting
relationships through honest and respectful business practices.
Expenditures from 2011 -2017 on Eagle Plains -related projects were approximately $16.5M, which was
funded by Eagle Plains and for the most part, by third -party partners. This exploration work resulted in
approximately 15,000 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.