Mr. C.C. Downie reports

EAGLE PLAINS PROVIDES OVERVIEW OF 2024 EXPLORATION PLANS

Eagle Plains Resources Ltd. has commenced the 2024 exploration season, with plans to complete exploration on 26 projects in British Columbia and Saskatchewan. Exploration will be financed by partners through existing option agreements and by Eagle Plains on generative programs. A wide array of deposit types and precious and critical minerals will be targeted, including gold, silver, copper, uranium, zinc, lead and rare earth elements. Planned exploration includes mapping and prospecting in conjunction with modern, industry-leading geochemical and geophysical techniques to generate new drill targets and further delineate existing targets. The planned exploration projects range from early stage to advanced stage.

Exploration highlights:

• Exploration currently planned for 26 different projects inBritish Columbia and Saskatchewan;
• 13 of the projects will be entirely financed by option partners;
• Saskatchewan programs will focus on uranium exploration around Uranium City and southern Athabasca basin;
• British Columbia programs will focus on copper-gold porphyry and epithermal-type deposits in world-class porphyry districts.

Partner-financed programs are planned on 13 projects in 2024, with a major focus on uranium exploration in Northern Saskatchewan. Xcite Resources Inc. is planning for ground exploration and property assessments at six Uranium City area projects (Beaver River, Black Bay, Don Lake, Gulch, Lorado and Smitty), investigating Beaverlodge-type, unconformity-type and basement-hosted uranium mineralization. Refined Energy Corp. is planning an airborne MT (magnetotelluric) geophysical survey and geophysical interpretation of historical data sets at the Dufferin West and Dufferin North projects, investigating for unconformity-type uranium mineralization in the southern Athabasca basin.

Internal generative exploration financed by Eagle Plains will have a major focus on copper-gold porphyry and epithermal targets in central and Northern British Columbia, including airborne magnetic and radiometric geophysical surveys at the Theory and Gold Mountain properties (Toodoggone mining district; Stikine terrane) and geochemical surveying, including gold grain analysis, till geochemistry and prospecting, at the Mount Polley West project (Caribou mining district; Quesnellia terrane).

Exploration is being conducted and managed by Terralogic Exploration Inc. of Cranbrook, B.C. Field crews have recently completed programs at the Kidd-Star lead-zinc-silver sedimentary exhalative (sedex) prospect (mapping and geochemical survey), the Mount Polley West copper-gold porphyry prospect (prospecting and geochemical survey), the Cook structurally controlled gold prospect (prospecting and mapping), the Pine Channel/Shasko unconformity U and structurally controlled gold prospect (airborne VTEM (versatile time-domain electromagnetic) Plus geophysics), and the Donna intrusion-related gold-silver prospect (mapping and geochemical survey). Analytical and geophysical results are pending for all completed projects.

The 2024 exploration overview schedule and proposed work are subject to change.

Qualified person

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., was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout Western Canada.

Eagle Plains' core business is acquiring grassroots critical metal 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 2023 on Eagle Plains related projects exceed $38-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, 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.