Eagle Plain’s Partner SKRR Completes Drilling at Olson Gold Project, Saskatchewan

Eagle Plain’s Partner SKRR Completes

Drilling at Olson Gold Project, Saskatchewan

Cranbrook, B.C., November 17 th, 20 20: Eagle Plains Resources Ltd. ( “EPL”:TSX-V, “Eagle

Plains”) is pleased to announce that option partner SKRR Exploration Inc. ( TSX-V:“SKRR”) have

funded and successfully completed an 18 hole, 2981m (9,778’) drill program on EPL’s 100%-owned

Olson property (the “Property). The Olson property area covers 5038 ha located within the Trans Hudson

Corridor 100 km east of La Ronge, Saskatchewan and 80km south of SSR Mining’s Seabee Gold

Operation. SKRR may earn a 75% interest in the Property by completing exploration expenditures of

$3,000,000, making cash payments of $250,000 and issuing 1,000,000 voting class common shares to EPL

over a 4 -year period. Details of the option agreement are outlined below. Results from recent drilling

activity will be released once they have been received, compiled and interpreted.

Seven separate target area s were tested throughout the course of the 2020 program, including the Jena,

Juba, Point, Tuscan, Siskin, Olson and Michael Zones.

Contingent on favourable results, SKRR has indicated to Eagle Plains that they intend to follow up this

summer’s program with an expanded winter program to be carried out in early 2021. Planning and

permitting for this work is currently underway.

The four week, Fall program was supervised by Jarrod Brown, P.Geo. of Terralogic Exploration Services

of Cranbrook, B.C. and relied extensively on support services and personnel from the town of

Deschambault Lake, SK. Management of Eagle Plains and SKRR would like to extend their thanks to the

Peter Ballantyne Cree Nation (“PBCN”) for their open communication and input and would like to

recognize the Saskatchewan Ministry of Environment and its various agencies and contractors for their

efforts in keeping this project moving amidst the challenges that COVID-19 has presented.

Olson Project Summary

See the Olson project map here

The Olson project is host to regionally sheared, highly strained meta-volcanic and adjacent intrusive rocks

which are considered to be prospective for orogenic gold mineralization. The Olson project area is host to

29 mineral occurrences defined by historical geological mapping, prospecting, trenching and 4700 m of

diamond drilling. Historical drilling at Olson Lake has intersected 7.5 m grading 2.07 g/t Au including

13.00 g/t Au over 0.65 m , and grab samples of up to 105.52 g/t Au have been collected at the Kalix

occurrence. The project is considered to be significantly underexplored, with known gold occurrences

open at depth and along strike. Results are historical in nature and have not been confirmed by Eagle

Plains/SKRR but are considered to be reliable and will form a basis for ongoing work.

In 2018, Eagle Plains and a previous partner completed a detailed compilation of existing data, followed

by a 2 - Phase, $150,000 field program which consisted of geological mapping and prospecting and the

collection of a total of 862 soil samples and 126 rock samples.

The 2018 field program verified the results of historical work and identified additional targets in areas that

were previously underexplored. Grid soil geochemistry at the Jena and Point areas returned extensive gold

in soil anomalies. Soil geochemical values ranged from below detection to a maximum of 2704.6 ppb Au,

with 6 samples returning greater than 1000 ppb Au. In the Jena area, soil geochemistry delineated a 1.4

km strike length of anomalous soil results greater than 80 ppb Au with a maximum of 1346 ppb Au. T he

Ackbar-Tuscan-Point area also returned promising results, with a 300m by 100m zone returning values

greater than 80 ppb Au and a maximum of 2704.6 ppb Au. Despite widespread gold bearing outcrops, soil

geochemistry at the Olson and Juba showing areas re turned lower values, likely related to thick clay and

soil cover in these areas.

Prospecting in the areas of anomalous soil geochemistry identified gold mineralization associated with

shear-hosted quartz veins. Analytical results from outcrop ranged from below detection to a maximum of

45.1 g/t Au, with 20 grab samples returning greater than 1000 ppb Au. The Olson area had a maximum

assay of 41.0 g/t Au from an outcrop grab sample of sheeted veins. The Jena area had 20 samples in excess

of 1000 ppb Au with a maximum assay of 15.7 g/t Au from quartz -arsenopyrite veins. At the Juba

occurrence, a grab sample returned 13.1 g/t Au. Mineralization at the Point and Tuscan area returned

maximum values of 9.8 g/t Au at the Point and 45.1 g/t Au at Tuscan.

Prior to 2020 exploration, the Olson property has seen 4500 meters of historic diamond drilling in 61 holes

with the majority of the drilling in short holes focused on the Olson Lake and Dosco - Siskin Zones, with

the last drill program completed in 2008. 2020 drilling will further test historically drilled zones, as well

as previously undrilled and underexplored showings based on a new understanding of gold mineralization

controls. The drill target modelling was based on a comprehensive integration of hist orical work in

conjunction with results from the 2020 field program . Numerous drill targets have been generated

throughout the 5835 hectare property, with the current program focused on the central part of the property.

2020 Field Program

The 2020 Olson field program that preceded drilling activity was completed during the summer of 2020

and was designed to define targets for follow-up diamond drilling. Discovery International Geophysics

completed 13 lines (8.6 line kilometers total) of combined IP/ DC R esistivity over the Point, Tuscan and

Juba areas. This was followed by a 13 day geological field program carried out by TerraLogic Exploration

Services. Soil sampling, prospecting, field mapping, and channel sampling were undertaken to delineate

new areas of gold mineralization as well as advance known showings to identify and prioritize drill targets.

The 2020 exploration program defined widespread gold mineralization in both soil samples and in rock

channel samples. Assay results include 17 rock samples over 1.0 g/t Au and 35 soil samples values over

0.1 g/t (100 ppb) Au. Each showing inspected in 2020 returned samples with favourable assay results and

the fieldwork conducted furthered the geologic vectoring of gold mineralization.

Olson Option Agreement Details

Under the Agreement, SKRR may earn-in up to a 51% interest in the Property by making certain staged

cash payments, share payments of common shares in the capital of SKRR to Eagle Plains and exploration

expenditures over a period as follows: (i) $10,000 in cash upon execution of a letter of intent in respect of

the Transaction (paid); (ii) $20,000 in cash and 200,000 comm on shares upon TSXV approval of the

Transaction (received); (iii) $40,000 in cash, 200,000 common shares and $200,000 in exploration

expenditures on or before December 31, 2020; (iv) $80,000 in cash, 200,000 common shares and $500,000

in exploration expenditures on or before December 31, 2021; and (v) $100,000 in cash, 200,000 common

shares and $800,000 in exploration expenditures on or before December 31, 2022.

SKRR may earn-in up to a an additional 24% (75% total) interest in the Property by making additi onal

exploration expenditures of $1,500,000 on the Property and issuing 200,000 common shares of SKRR to

Eagle Plains on or before December 31, 2023.

Update on Iron Range Drilling

Drilling activity continues at Eagle Plain’s 100%-owned Iron Range property (the “Project”) located 10km

east of Creston, British Columbia. To date, a total of 5 holes totalling 343.2m have been completed of a

planned 700-1000m program. The Iron Range property is under option to a private company which holds

the exclusive right to earn up to a 60% interest in the Project from Eagle Plains over a five-year period by

incurring $3,500,000 in exploration expenditures and making $250,000 in cash payments to Eagle Plains.

The Company retain s the right to increase its interest to 80% by making a one -time cash payment of

$1,000,000 to Eagle Plains.

Drilling activity at Iron Range is focussed on the O -Ray area, where p revious drilling by Eagle Plains

returned values ranging from trace quantit ies to up to 7.0m grading 51.52g/t (1.50 oz/ton) gold.

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 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 dis covery through collaborative 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 ou t 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 one of the top 3 jurisdictions in the

world in terms of Investment Attractiveness. 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.

Expenditures from 2011-2019 on Eagle Plains-related projects exceed $20M, most of whic h was funded

by third-party partners. This exploration work resulted in approximately 30,000 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.