Mr. C.C. Downie reports

EAGLE PLAINS AND YA'THI NENE LANDS AND RESOURCES ANNOUNCE EXPLORATION AGREEMENT

Eagle Plains Resources Ltd. and the Ya'thi Nene Lands and Resource Office (YNLR) (representing the Athabasca Denesuline First Nations of Hatchet Lake, Black Lake and Fond du Lac; the northern hamlet of Stony Rapids; and the northern settlements of Uranium City, Wollaston Lake and Camsell Portage) have recently signed an exploration agreement. This partnership will support mineral exploration in Nuhenene, the traditional territory of the Athabasca first nations in Treaty 8 and Treaty 10 territories.

The agreement recognizes Eagle Plains' commitment to building a mutually beneficial relationship with the Athabasca communities. Guided by YNLR's vision for economic growth, environmental stewardship and cultural preservation, the agreement promotes employment, training opportunities and respect for local practices, aligning with Eagle Plains' dedication to responsible exploration practices.

"We welcome this opportunity to work collaboratively in ensuring that our land, water and cultural values are prioritized," said Mary Denechezhe, board chair of Ya'thi Nene Lands and Resources. "Through this partnership, we are building not only economic opportunities but a framework that strengthens the community voices in protecting our traditional territory for future generations."

The agreement enables active participation from basin communities through opportunities for employment and training, contracting with northern businesses, contributions to YNLR's community trust, and harvester compensation. Regular communication between Eagle Plains and YNLR will directly inform exploration permitting, environmental monitoring and program implementation, with YNLR's community land technicians providing on-site oversight and assessment of exploration activities.

Eagle Plains has been active in the Saskatchewan uranium exploration space since 2006, currently holding a 100-per-cent interest in 19 individual projects comprising a total of approximately 54,598 hectares of mineral dispositions covering both basement-hosted and unconformity-hosted uranium targets. The projects range from early-stage grassroots to drill ready and are distributed throughout the prospective Athabasca basin, including the Patterson Lake South (PLS), Beaverlodge and Dufferin-Centennial camps. The exploration agreement covers six individual projects -- Gulch, Lorado, Beaver River, Black Bay, Don Lake and Smitty -- in the Lake Athabasca region, which are under option to Xcite Resources Inc.

Chuck Downie, chief executive officer of Eagle Plains, commented: "We are honoured to have the support of the basin communities as we advance our exploration projects. Eagle Plains will continue to build respectful and beneficial relationships with all of the Athabasca communities that we work in. Protection of land and water and direct participation from people who live in our project areas is paramount to our success. The exploration agreement will provide a path for a long-term partnership between Eagle Plains, YNLR and the basin communities and ensure meaningful participation in projects that are conducted on their traditional lands."

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 and decarbonized economy.

The company was formed in 1992 and is the ninth-oldest listed issuer on the TSX Venture Exchange (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.

On Oct. 2, 2024, Eagle Plains announced announce 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 metal and precious metal exploration properties. The company is committed to steadily enhancing shareholder value by advancing our 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.