Mr. C.C. Downie reports

EAGLE PLAINS COMPLETES WORK AT NEWLY ASSEMBLED HEARNE HILL SOUTH PROJECT IN HIGHLY PROSPECTIVE BABINE COPPER-GOLD PORPHYRY DISTRICT

Field work has recently been completed on Eagle Plains Resources Ltd.'s newly assembled Hearne Hill South copper-gold porphyry project, located approximately 70 kilometres northeast of Smithers, B.C. The 4,656-hectare, road-accessible property is located in the highly prospective Babine porphyry district, which includes the past-producing Bell and Granisle mines. The project is 100 per cent owned by Eagle Plains with no underlying royalties or encumbrances.

Highlights:

• Located in the prolific Stikine terrane, proximal to past-producing mines and developed prospects;
• Road accessible with nearby hydro transmission lines;
• Underexplored geophysical anomalies consistent with prospective intrusive geology.

2025 work program

Eagle Plains has recently completed over 32 line kilometres of soil geochemical sampling at the Hearne Hill South project. Samples were collected at approximately 50 m spacing on east/west-oriented lines between 200 m and 800 m apart. The survey was designed to be reconnaissance in scale with the goal of identifying and prioritizing targets for future exploration. Twelve rock samples were collected during the program including a grab sample (LWHHR001) from outcrop consisting of very fine-grained granodiorite exhibiting malachite staining on fracture surfaces and mineralized with chalcopyrite, both as fracture fill and disseminations. The sample displays pervasive chlorite alteration with veinlets of epidote and specular hematite. In late January, 2025, the company also completed a high-resolution airborne magnetic survey with Precision GeoSurveys Inc. consisting of 286 line kilometres at 100 m spacing. Analytical results and interpretation of the 2025 work are pending. All work was designed and executed by TerraLogic Exploration Inc. of Cranbrook, B.C.

"We are very pleased to have assembled a significant land position in such an endowed porphyry district in just a couple of years," said Jesse Campbell, vice-president of exploration. "The Hearne Hill South project is another example of our corporate goal to increase porphyry copper and gold discovery exposure in our generative portfolio. We are eagerly anticipating results and interpretation from the 2025 work program. I commend the TerraLogic crew on their ability to efficiently execute the work and to identify new mineralization in the first field program."

Geology

The Hearne Hill South property is located in the Stikine terrane within the Babine porphyry belt consisting of primarily Late-Triassic (Takla Group) and Early-Jurassic (Hazelton Group) marine volcanic, volcaniclastic and sedimentary rocks and Tertiary and Cretaceous age intrusions. Economic metal deposits have been associated with rocks from each of these intrusive events. Regionally, the Eocene age Babine igneous suite is the most prospective for porphyry copper mineralization. Significant mineralization has been recognized in two main forms: (1) stockwork porphyry copper and molybdenum mineralization typical of that associated with biotite-feldspar porphyry (BFP) intrusions in the Babine; and (2) breccia pipes containing higher-grade copper and gold that form the core of the Hearne Hill porphyry deposit. Within the porphyry style hydrothermal system, the BFP intrusions and to a lesser degree the intruded Hazelton volcanic rocks, host chalcopyrite, pyrite, bornite and minor molybdenite within quartz veinlets, fracture fill and disseminations. Strong biotite and quartz-sericite alteration is associated with mineralization, with potassic alteration associated with the best grades.

Regional exploration activity

In recent years exploration activity has significantly increased in the Babine porphyry district with Amarc Resources and partner Boliden exploring their Duke project ($10-million budget for 2025) and American Eagle Gold drilling their NAK project with 30,000 metres planned for 2025. In November, 2024, South32 took a 19.9-per-cent interest in American Eagle Gold at a cost of $22-million (U.S.) to support further drilling at NAK3.

Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. Some of the above results were taken directly from Minfile descriptions and assessment reports (ARIS) filed with the British Columbia government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a qualified person but form a basis for continuing work on the subject properties. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.

Technical information in this news release has been reviewed and approved by C.C. Downie, PGeo, a director and officer of Eagle Plains, hereby identified as the qualified person under National Instrument 43-101.

About Eagle Plains Resources Ltd.

Based in Cranbrook, B.C., Eagle Plains is a well-financed, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout Western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.

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 rollback or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spinouts has transferred over $100-million in value directly to its shareholders, with Copper Canyon Resources 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.

On Oct. 2, 2024, Eagle Plains announced the formation of a separate division within the company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. (OP) will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on 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 the company's diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.

Expenditures from 2010 to 2023 on Eagle Plains-related projects exceed $39-million, the majority of which was financed by third party partners. This exploration work resulted in approximately 50,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

Throughout the exploration process, the company's mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

We seek Safe Harbor.