Mr. C.C. Downie reports

FIELDWORK COMMENCES ON EAGLE PLAINS' BLACK DIAMOND ANTIMONY AND PRECIOUS METAL PROJECT

Eagle Plains Resources Ltd. has mobilized personnel to commence fieldwork on the Black Diamond property, located 35 kilometres west of Invermere, B.C. The 866-hectare, road-accessible property covers the Black Diamond structural zone, which has been traced for over 12 km and hosts high-grade polymetallic silver-lead-zinc-antimony mineralization. The project is 100 per cent owned by Eagle Plains with a 2-per-cent net smelter royalty held by Eagle Royalties containing a 1-per-cent buyback clause.

See Black Diamond property information

The Black Diamond property has been held by Eagle Plains since 1996. Located within the Toby Creek area, the steeply dipping north/south-oriented structure is exposed for approximately 760 metres vertically, and interpreted to have at least 1.6 km of strike length within property boundaries. Historical pits, trenches and tunnels are located at irregular, exposed intervals over approximately three km of the Black Diamond structure trace.

Most of Eagle Plains work has focused on the northern part of the property in the area of the historic Black Diamond workings (B.C. Minfile 082KSE049). At the Battleship zone, massive quartz vein material up to eight m in width occurs at the intersection of two structural splays. In 1995, a four-hole, 179.1-metre, helicopter-supported drilling program financed by a private partnership targeted the Battleship area. Results ranged from trace values to the best intersection in hole 95-02 at 28.0 m to 31.0 m, which graded 93.73 grams per tonne silver, 9.66 per cent lead and 5.17 per cent zinc over 3.0 m (true thickness estimated at approximately 1.4 m). Concurrent with the 1995 drill program, continuous chip panel sampling of a historical 66-metre-long tunnel located 60 m vertically below the drill set-up returned an average of 746.3 g/t silver, 25.0 per cent lead and 4.95 per cent zinc over a 24-metre section, which ran along the structure. Within this section, six m of the tunnel length assayed 1,444.7 g/t silver, 50.4 per cent lead and 5.37 per cent zinc. Antimony results from the panel sampling ranged from trace values up to 1,180 parts per million Sb over a one-metre interval.

The current program will focus on the southern part of the property in the area of the Silver Spray zone (B.C. Minfile 082KSE007). Historic grab samples of mineralized quartz vein material exposed in trenches returned values including 3.19 g/t gold, 2,286.1 g/t Ag and 1.63 per cent Sb (RW95C-04) and 1.28 g/t Au, 2,813.2 g/t Ag and 7.44 per cent Sb (RW95C-06). Prospecting programs by Eagle Plains in 1996 and 2012 located additional historic workings in the Silver Spray area. Geochemical analyses ranged from trace values up to higher-grade samples, including:

• CDBD96R-08: 1,500 g/t silver, 2.55 per cent copper, 55.4 per cent lead and 10,000 ppm antimony;
• CDBD96R-12: 759 g/t Ag, 24.1 per cent Pb, 6.6 per cent Zn and 10,000 ppm Sb;
• TTBDR004: 1955 g/t Ag, 0.97 per cent Cu, 13.75 per cent Zn and 10,000 ppm Sb;
• TTBDR008: 0.94 g/t Au, 1,650 g/t Ag, 3.53 per cent Cu, 2.11 per cent Zn and 10,000 ppm Sb.

The 1995 and 1996 analyses were done using 30-element ICP with aqua regia digestion, and the 2012 program used a 35-element ICP with aqua regia digestion. All of the programs used a fire assay finish on select overlimit samples.

An airborne geophysical survey (magnetometer and electromagnetic) completed in 2004 outlined two prominent linear features that appear to be related to the known mineralization and historical workings.

Two thousand twenty-five work will include soil sampling and prospecting along the interpreted trace of the Black Diamond structure and associated structural splays, targeting antimony and associated precious metal mineralization. Recent interpretation of lidar data by Eagle Plains has located topographic anomalies in the area of the high gold and antimony values, which may represent additional trenches and adits, and will be followed up on as part of the current program.

Exploration is being conducted and managed by TerraLogic Exploration Inc. of Cranbrook, B.C.

Snowstorm Sb/Au project

As well as the Black Diamond property, Eagle Plains holds another project with significant antimony mineralization. The 2,084-hectare Snowstorm property, located in the historic Slocan mining camp, is underlain by six B.C. Minfile occurrences, one of which, the White Eagle (B.C. Minfile 082KSW126), is covered by a historical Crown grant. Mineralization at the Snowstorm is associated with quartz-calcite veins hosted in sediments. No historical drilling has been reported on the property.

The West Ridge (B.C. Minfile 082KSW197) 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). As well as antimony, the Snowstorm hosts high-grade gold mineralization. The Silver Sparrow occurrence (B.C. Minfile 082KSW146) consists of two separate quartz veins about 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). A one-day field program by Eagle Plains in 2024 located the historic Pine Tree occurrence, interpreted to represent the strike length extension of the Silver Sparrow vein approximately 70 m along strike to the east. KBSWR014, a float sample of vein material, returned 76.30 g/t Au, 56.30 g/t Ag and 3.30 per cent Pb.

At the Lakeview occurrence (B.C. Minfile 082KSW198), 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. Some of 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 or 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.

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 and 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.

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 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, 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.