Eagle Plains to Reorganize Royalty Assets

EAGLE PLAINS TO REORGANIZE ROYALTY ASSETS

Cranbrook B.C., November 9th, 2022: The Board of Directors of Eagle Plains Resources

Ltd. (TSX-V:EPL) (the "Company" or "Eagle Plains") is pleased to announce the formation

of a separate division within the Company in an effort to maximize shareholder value and

pursue strategic opportunities . Under the proposed reorganization, specific royalty assets

covering a broad spectrum of commodities will be managed by a new, wholly-owned

subsidiary of Eagle Plains under the name Eagle Royalties Ltd. (“ER”)

The restructuring is designed to improve the identification and valuation of specific Eagle

Plains’ royalty interests , and to ultimately enable ER to separately market, finance and

develop its various assets while maintaining the ability to acquire additional royalties.

The formation of ER will allow for the oversight, direction and management of a significant

portfolio of royalty assets located in British Columbia, Yukon and Saskatchewan relating to

commodities including gold, silver copper, lead, zinc, rare earth/critical elements (REE’s),

uranium, graphite, diamonds and industrial minerals. Eagle Plains will continue to focus on

its core business model of acquiring and advancing grass roots critical- and precious-metal

exploration properties. Work is underway to launch an independent website containing maps

and more detailed descriptions of the various royalties under ER management.

Tim Termuende, President and CEO of Eagle Plains stated recently: “ we are excited to see

the formation of Eagle Royalties and look forward to its ev olution. Eagle Plains has been

assembling this large royalty portfolio since its formation in 1992 and over the past thirty

years has secured royalty interests over a wide range of commodities located in areas of

active mining and advanced development such as our flagship AurMac Royalty (gold:

Banyan Resources/Hecla Mining), Eskay Creek (gold-silver: Skeena Resources), Patterson

Lake South (uranium-Cameco, Denison), Fort a la Corne (diamonds ) and numerous other

royalties located thr oughout western Canada. While Eagle Plains has held many of these

royalty interests for years, management is of the opinion that their true value is not reflected

within the diverse holdings and activities of Eagle Plains and their potential would be more

readily identified as a stand-alone division.”

See Eagle Plains’ royalty portfolio here

See AurMac Royalty video here

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 transferr ed 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 highly experienced technical team. Eagle Plains also holds significant

royalty interests in western Canadian projects, covering a broad spectrum of commodities

on projects controlled by Cam eco Corp., Iso Energy Corp., Denison Mines Corp., Skeena

Resources Ltd. and Hecla Mining Co. /Banyan Gold Corp., among others. Management’s

focus is to advance its most promising exploration projects. Throughout the exploration

process, our mission is to he lp maintain prosperous communities by exploring for and

discovering resource opportunities while building lasting relationships through honest and

respectful business practices.

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.

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 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.