Mr. C.C. Downie reports

FIELDWORK COMMENCES ON EAGLE PLAINS' SNOWSTORM GOLD PROJECT

Eagle Plains Resources Ltd. has mobilized staff to commence fieldwork on its 100-per-cent-owned Snowstorm property, located 45 kilometres (km) east of Nakusp, B.C. The 1,026-hectare property is host to polymetallic veins that carry significant gold-silver-lead-zinc mineralization. Exploration is being conducted and managed by TerraLogic Exploration Inc. of Cranbrook, B.C.

Snowstorm geology and project history

The Snowstorm property is located within the historic Slocan mining camp where active exploration began in the mid-1860s. The camp and surrounding areas contain 173 past-producing mines with reported total production in excess of one million kilograms (kg) of silver. The Snowstorm property is underlain by six B.C. Minfile occurrences, one of which, the White Eagle (Minfile 082KSW126), is covered by an historical Crown grant.

The current Snowstorm tenures were worked extensively from 1925 to 1930 when a series of trenches, shallow shafts, adits and tunnels were established at the Snowstorm (Minfile 082KSW086), Juno (Minfile 082KSW125), Silver Sparrow (Minfile 082KSW143) Lakeview (Minfile 082KSW198) and West Ridge (Minfile 082KSW197) occurrences. Subsequent activity included geological mapping and soil geochemical surveys. The most recent work was reported in 2015 which consisted of a structural analysis of the area.

Mineralization at the property is associated with quartz-calcite veins hosted in sediments. At the Snowstorm occurrence, a series of veins are exposed by 26 trenches, with the largest vein measuring one metre (m) in width. Historical grab samples of trench material returned up to 572 grams per tonne silver, 2.81 grams per tonne gold and 22.4 per cent lead (ARIS 18136). The Juno occurrence has been explored by several trenches and a 12-metre-long adit, with a 60-centimetre chip sample of vein material returning 1.4 grams per tonne gold, 600 grams per tonne silver, 29 per cent lead and 29.8 per cent zinc (ARIS 18136). The West Ridge vein has been explored with several trenches and a 15-metre-deep shaft. A selected grab sample of the mineralized vein assayed 1,540 grams per tonne silver, 41.1 per cent lead, 16.1 per cent antimony and 1.58 per cent copper (ARIS 18136). The Silver Sparrow occurrence consists of two separate quartz veins approximately 90 metres apart, which have been explored by trenches and a six-metre-deep inclined shaft. The best grab sample from the vein assayed 27.5 grams per tonne gold, 1,083 grams per tonne silver, 56.2 per cent lead and 0.55 per cent zinc (ARIS 18136). At the Lakeview occurrence, two mineralized quartz veins have been exposed by two trenches. A composite sample of vein material taken from the western end of one of the trenches assayed 144 grams per tonne gold, 158 grams per tonne silver, 6.04 per cent lead and 3.47 per cent zinc (ARIS 18136).

Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. The above results were taken directly from Minfile descriptions and assessment reports (ARIS) filed with the B.C. 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.

Management cautions that rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property.

Though historically explored purely as a high-grade, narrow vein system, Eagle Plains further intends to assess the Snowstorm project for its bulk-tonnage potential. No historical drilling has been reported on the property.

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.

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