Eagle Plains Commences Mount Polley West Field Program

CRANBROOK, June 24, 2024 - Eagle Plains Resources Ltd. (TSXV:EPL) (or "Eagle Plains") is pleased to announce that crews have been mobilized to EPL's 100% owned Mount Polley West (MPW) gold-copper project. The 9663 ha MPW project is located in south-central BC, 54 kms north-northeast of Williams Lake and adjacent to Imperial Metals' Mount Polley Property and Osisko Development's past producing QR Deposit. MPW is prospective for porphyry copper-gold and epithermal gold deposits.

Project Highlights

• Large contiguous land position adjacent to two significant mineral deposits
• Historical trenching returned 1.12% Cu over 35m, including 7.12% Cu over 5m
• Excellent infrastructure that supports cost-effective exploration
• Multiple documented mineralized intrusions similar in nature to the Mount Polley Intrusive Complex (MPIC)
• Coincident geophysical and geochemical anomalies that support the presence of additional prospective intrusions

See Mount Polley West Compilation Map and Webpage here

Due to the proximity to the Mount Polley Mine Complex and extensive forestry activity in the area the project has excellent infrastructure including the paved Likely Road and a high-voltage powerline 5 km south of the property boundary.

Exploration in the region began in conjunction with the Caribou placer gold rush in the 1890's with the first documented hard-rock exploration on the property conducted in 1966, shortly after the discovery of the Mount Polley Mine. Mount Polley is an alkalic porphyry copper deposit, hosted in intrusive breccias and stockwork veins of the late-Triassic Mount Polley Intrusive Complex (MPIC). Recent compilation of historical mapping, rock sampling, and limited drilling within the current MPW property boundaries indicate several occurrences of intrusions similar in nature to the MPIC.

Eagle Plains' first claims in the region were acquired in 2022 with subsequent additions made through staking and third-party agreements. After acquiring the core MPW claims, Eagle Plains completed geological mapping and soil and rock geochemical sampling on the property. 2022 work confirmed copper mineralization on the property, interpreted to be indicative of a deeper porphyry copper source.

Although there are 10 BC MINFILE occurrences on the property, bedrock exposure is limited with varying depths of glacial till cover. Interpretation of historical work and work by Eagle Plains has identified glacial till sampling as an effective tool in vectoring toward bedrock sources of mineralization. Analyses of gold grains in wide spaced till samples collected by Eagle Plains in 2023 in the NW of the property indicate the potential for an up-ice mineralized source to the south. Tills down-ice from Mount Polley show similar gold grain counts and grain morphology.

2024 fieldwork will focus on increasing the density of till sampling in the central part of the property, up- ice from the anomalous 2023 till results and in the area of overlapping radiometric and magnetic geophysical anomalies which are consistent with the geophysical signature of Mount Polley. The 2024 work program will be managed by TerraLogic Exploration of Cranbrook, BC.

The compilation of historical work in conjunction with a review of modern geophysical surveys and results from 2023 fieldwork by Eagle Plains are highly encouraging. The results from the 2024 program will be integrated with historical data to aid in planning the next stage of work which may include deep-looking airborne MT geophysics, ground IP geophysical surveys and mechanical trenching to identify drill targets.

The MPW Project is available for option and Eagle Plains is actively seeking partners.

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 filed with the BC 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 ongoing 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.

Qualified Person

Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified as the "Qualified Person" under N.I. 43-101.

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, 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 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 over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout; Eagle Royalties Ltd. (CSE:"ER") 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- 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 2010-2023 on Eagle Plains-related projects exceed $38M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

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.

On behalf of the Board of Directors of Eagle Plains

"C.C. (Chuck) Downie, P.Geo"
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 https://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.