Eagle Plains Successfully Executes Major BC Staking Campaign

CRANBROOK, February 7, 2022 - Eagle Plains Resources Ltd. (TSXV:EPL) has recently received title to a number of strategic mineral tenures in British Columbia. The acquisitions follow the unprecedented release of a large quantity of lapsed claims that had seen extended protection from expiry by the BC government due to factors related to Covid 19. Staking followed extensive planning and research by Eagle Plains personnel and occurred daily as claims were released from protection during the latter part of January, with many individuals involved in the acquisition event. Over 15 individual projects consisting of 8482 ha were acquired, many of which contain very favourable geology located near to existing mining operations, existing Eagle Plains projects or advanced projects such as Eskay Creek, Mount Polley and Copper Mountain. The claims are now held 100% by Eagle Plains and carry no underlying royalties or encumbrances.

See EPL Recent Staking Activity Map here

Tim Termuende, P.Geo., President and CEO of Eagle Plains commented recently on the acquisitions: "we are excited to have successfully executed extensive staking operations throughout BC. The unique situation resulting from the mass release of so many quality target areas across the province is an example of the axiom that crisis equals opportunity. I am happy to report that Eagle Plains and its shareholders were in a position to fully benefit from this rare opportunity and look forward to the future exploration and possible development of these areas".

Qualified Person

Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and a Director of Eagle Plains Resources Ltd., has prepared, reviewed, and approved the scientific and technical disclosure in this news release.

2022 Exploration Outlook

Planning is underway for multiple exploration programs in British Columbia and Saskatchewan, with a drill program currently in progress at Eagle Plains 100% owned Olson project, under option to SKRR Exploration which is funding current work (see news release dated Jan 27, 2022). The 2022 program will build on 2021 exploration which saw approximately $5M in expenditures on Eagle Plains properties funded by both Eagle Plain ($1.5 M) and option partners ($3.5 M).

See EPL 2022 Project Schedule here

About Eagle Plains Resources

Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada. 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 roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin-outs has transferred approximately $95,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold being notable examples.

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. Eagle Plains also holds significant royalty interests in western Canadian projects, covering a broad spectrum of commodities. Management's focus is to advance its most promising exploration projects. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

Expenditures from 2011-2021 on Eagle Plains-related projects exceed $27M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 42,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

Happy Birthday, Bob!

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com

Cautionary Note Regarding Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Eagle Plains Resources Ltd.