Mr. C.C. Downie reports

EAGLE PLAINS INCREASES SASKATCHEWAN ROYALTY PORTFOLIO

Eagle Plains Resources Ltd. has entered into a purchase and sale agreement with Apogee Minerals Ltd. on five individual non-core claim blocks totalling 1,965 hectares located adjacent to and within APMI's Knife Lake copper project in east-central Saskatchewan. Under the terms of the agreement, dated Oct. 19, 2026, Apogee will purchase a 100-per-cent interest in the properties for cash consideration of $20,000 and one million common shares of APMI, with EPL retaining a 2.5-per-cent net smelter royalty on all claims, 1 per cent of which may be purchased by Apogee for $2-million.

Closing of the transaction remains subject to the receipt of acceptance of the TSX Venture Exchange and the satisfaction of customary closing conditions, including the transfer of the Eagle Plains claims to the company through the Mineral Administration Registry Saskatchewan system. The Eagle Plains claims are in good standing with the Province of Saskatchewan, and are being acquired free and clear of any encumbrances other than the NSR royalty and customary permitted encumbrances.

Brownell project update

Eagle Plains and Pacific Imperial Mines Inc. have mutually agreed to terminate the option agreement between Pacific Imperial and Eagle Plains on EPL's Brownell Lake volcanogenic massive sulphide project, effective immediately.

About the Brownell Lake project

The Brownell Lake project is host to regionally deformed metavolcanic rocks, which are considered to be prospective for volcanogenic massive sulphide mineralization. Historical select drilling results include 3.35 metres of 0.48 per cent copper, 2.28 per cent zinc and 1.46 grams per tonne gold; 2.2 m of 6 per cent Zn; and 20.5 m of 0.49 per cent Cu. Historic work has delineated a 2,600-metre length electromagnetic/magnetic anomaly coincident with the VMS horizon, with an additional 1,700 m of prospective magnetic anomaly that remains untested by electromagnetics and diamond drilling. Results are historical in nature and have not been confirmed by Eagle Plains, but are considered to be reliable and will form a basis for continuing work.

After acquiring the core tenures in 2018, Eagle Plains completed a comprehensive data compilation followed by a 2018 surface work program comprising soil sampling, geological mapping and prospecting, a ground-based magnetic-very-low-frequency geophysical survey, and whole-rock lithogeochemical sampling of select surface rocks and historical drill core samples. Modelling of these results indicate that the Brownell VMS-style mineralization extends farther east than previously interpreted. Additional geological mapping and soil sampling were completed in 2021 along the projected eastern extension of the mineralized horizon. Further, historical work has not tested the altered and mineralized stratigraphy to depths below 158 metres.

Qualified person

Charles C. Downie, PGeo, a qualified person for the purposes of National Instrument 43-101 (Standards of Disclosure for Mineral Projects), an officer and director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.

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 fourth-oldest listed issuer on the TSX Venture Exchange (and the only one of these four 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 $115-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., was listed on May 24, 2023, and, on Oct. 30, 2025, ER shareholders overwhelmingly approved a three-cornered amalgamation that resulted in a reverse takeover of Eagle Royalties by Summit Royalty Corp. The resulting issuer is named Summit Royalties Ltd. and trades under the symbol SUM on the TSX Venture Exchange with a market capitalization of over $100-million.

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. 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 its diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.

Expenditures from 2010 to 2025 on Eagle Plains-related projects exceed $41-million, the majority of which was financed by third party partners. This exploration work resulted in approximately 50,000 metres of diamond drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

Throughout the exploration process, its 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.