Eagle Plains/Rex Resources Announce Planned 2022 Exploration at Kalum Gold Property, Golden Triangle Region, BC
Eagle Plains/Rex Resources Announce Planned 2022 Exploration at
Kalum Gold Property, Golden Triangle Region, BC
Cranbrook, B.C., April 26th, 2022: Eagle Plains Resources (TSX-V:EPL), (“EPL”) is pleased to
announce that option partner Rex Resources Corp. (TSX-V:OWN), (“Rex”) has approved a summer
2022 exploration program at Eagle Plains’ 100% owned Kalum Property located approximately 35
km northwest of Terrace, British Columbia in the Skeena Mi ning Division. The planned program is
budgeted for $150,000 and will include detailed mapping, prospecting, and surficial geochemical
surveys including systematic soil & rock sampling at the Bling Rico, Babit-God, Tojo and Hat Zones.
The program aims to further define and extend mineralized trends highlighted in historical work. The
results from the 2022 program will be used to further interpret the property mineralization model and
generate drill-ready targets for future programs . Rex holds the exclusive right to earn an undivided
60% interest in the property by completing exploration expenditures of $3,000,000, mak ing cash
payments of $500,000 and issuing 1,000,000 common shares to Eagle Plains over a four year period
(see EPL news release Aug 13, 2020).
Property Geology
The 2,870 ha property is flanked by a large intrusive stock that has intruded sedimentary rocks of the
Bowser Lake Group. There are at least fifteen gold-silver mineral showings on the property coincident
with the contact zo nes of these intrusive plutons and large -scale structural zones. Mineralization is
dominantly high-grade, epithermal/mesothermal, polymetallic and gold-bearing veins that are hosted
within both intrusive rocks and country rock.
Property History
Eagle Plains acquired the property in 2003 and completed significant exploration programs on the
property in 2003 and 2004. The programs included a VTEM airborne survey, extensive geochemical
programs, geologic mapping, and a 19 -hole diamond drill program . The best drill results from this
work included drill-hole KRC04001, drilled at the Rico showing (discovered by Eagle Plains), which
returned 35g/t Au over 2.5m from 101.8m to 104.3m; including a 0.5m interval that assayed
107g/t Au. Historical sampling a t the Chris occurrence reported a grab sample of 158 g/t Au and
5,536 g/t Ag. At the Martin showing area, sampling by Eagle Plains in 2004 returned 34.0 g/t Au
and 83.0 g/t Ag from a grab sample of sulphide bearing quartz vein material. The Martin area ha s
never been drill tested. Management cautions that rock grab samples are selective samples by nature
and as such are not necessarily representative of the mineralization hosted across the property.
The property area has seen exploration activity by vario us operators over the years, with the most
recent diamond drilling carried out in 2012 by Clemson Resources, who drilled a single hole to test
for high-grade mineralization in an area outside of present claim boundaries . 2020 work by Eagle
Plains included high resolution orthophoto & LIDAR surveys and an airborne magnetic & radiometric
geophysical survey covering the western portion of the property.
All work to date continues to support the interpreted potential for the Kalum Property to host both
high-grade gold-silver deposits and lower-grade bulk-tonnage type gold mineralization.
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.
Update on Eagle Plains Resources Activities
Eagle Plains benefitted recently from the successful completion of a plan of arrangement between SSR
Mining Inc. and Taiga Gold Corp., which was spun out of Eagle Plains in April, 2018. Eagle Plains
held 12,162,716 shares of Taiga, which netted the company $3,223,120 in cash. This transaction leaves
EPL with an extremely robust treasury totalling over $9M.
Eagle Plains has a number of exploration projects planned for 2022, both with existing partners and
on its 100% owned projects. A preliminary summary of planned activity may be found here
Research and acquisition activity is ongoing, with negotiations underway with various third parties
with respect to additional option arrangements on our 100% owned projects.
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. 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 Resources and recently Taiga Gold being notable examples.
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 high ly
experienced technical team. Eagle Plains also holds significant royalty interests in western Canadian
projects, covering a broad spectrum of commodities. Management’s focus is to advance its most
promising exploration projects. Throughout the exploratio n 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 2011-2021 on Eagle Plains -related projects exceed $27M, the majority of which
was funded by third -party partners. This exploration work resulted in approximately 42,000m 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.