Eagle Plains Announces Agreement with Kodiak for the Ketch and Portland Properties, Nicola District, BC

Rhea-AI Summary

Eagle Plains (OTCQB:EGPLF) entered a property purchase agreement dated October 10, 2025 with Kodiak Copper for the Ketch and Portland projects in the Nicola district, BC.

Kodiak will issue an aggregate purchase price of 300,000 shares to Eagle Plains and Eagle Plains will retain a 2% NSR on the claims. Kodiak holds the right to buy back 1% of the NSR for $1.75 million.

Positive

• Consideration: 300,000 Kodiak shares issued to Eagle Plains
• Eagle Plains retains a 2% NSR on sold claims
• Buyback clause: Kodiak may repurchase 1% NSR for $1.75M

Negative

• Deal is share-based; no cash proceeds disclosed
• Potential dilution/exposure to Kodiak share price for realized value

CRANBROOK, BC / ACCESS Newswire / October 20, 2025 / Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") is pleased to announce it has entered into a property purchase agreement, dated October 10, 2025, with Kodiak Copper Corp. (TSXV:KDK)(OTCQB:KDKCF) ("Kodiak") whereby Kodiak will purchase a 100% interest in the Ketch and Portland projects. The aggregate purchase price is 300,000 shares of Kodiak. Eagle Plains will be granted a 2% net smelter return royalty ("NSR") on the claims, with Kodiak retaining the right to buy back 1% of the NSR for $1.75 million.

About the Ketch

The 1210 ha Ketch and 104 ha Portland properties are located in South-Central British Columbia, 37 km north-northwest of Princeton and 40 km southeast of Merrit, contiguous with Kodiak's MPD Project. The claims are highly prospective for porphyry related copper-gold mineralization. The Ketch claims are immediately adjacent to the Ketchan deposit, a large mineralized zone that forms an important part of the Initial Mineral Resource estimate for Kodiak's MPD project.¹ The property is positioned 3 km east of highway 5A and is accessible via a well-maintained network of roads and is bisected by a high-powered transmission line. Project tenures were acquired through staking as well as purchase agreements with arms-length third parties.

See Ketch and Portland Property Information and Map HERE

"We are very pleased to have reached an agreement with Kodiak to help them further consolidate the MPD Project.", said Jesse Campbell, Vice President of Exploration. "We have been impressed with Kodiak's ability to make discoveries and accretive acquisitions at MPD and are confident they have the regional expertise and resources to reveal the mineral potential of Ketch. This agreement represents a solid return on investment for Eagle Plains while maintaining upside exposure with our equity position in Kodiak and a royalty. Marketable securities, which had value of $1.89 million as of June 30, 2025, contribute significantly to the strength of our balance sheet. We look forward to continuing our exploration efforts on our numerous other, 100% owned, copper and gold prospects throughout the province."

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. The property purchase agreement is subject to the approval of TSX-Venture Exchange and other customary conditions.

Qualified Persons

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, has reviewed and approved the scientific and technical disclosure in this news release.

References

¹ Kodiak Resources News Release June 25, 2025

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 fourth-oldest listed issuer on the TSX-V (and the only one of these four 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. On July 02, 2025, ER announced that it had entered into a definitive amalgamation agreement with Summit Royalty Corp. pursuant to which Summit will "go-public" by way of a reverse takeover (RTO) of ER. Eagle Royalties shareholders will receive a consideration of $0.18 per ER share, representing a premium of 47% based on ER's closing price on June 30, 2025 on the Canadian Securities Exchange. Completion of the RTO is subject to a number of conditions, including, but not limited to, Exchange acceptance and required shareholder approvals of ER and Summit. An annual and special meeting of ER shareholders has been set for October 30, 2025 to consider and, if considered advisable, approve an ordinary resolution authorizing the proposed transaction. There can be no assurance that the RTO will be completed as proposed or at all.

On October 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. ("OP") 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 our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.

Expenditures from 2010-2024 on Eagle Plains-related projects exceed $39M, 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

"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.

View the original press release on ACCESS Newswire

FAQ

What did Eagle Plains (EGPLF) announce on October 20, 2025 about Ketch and Portland?

Eagle Plains agreed to sell 100% interest in Ketch and Portland to Kodiak for 300,000 Kodiak shares dated October 10, 2025.

What royalty did Eagle Plains secure on the Ketch and Portland claims (EGPLF)?

Eagle Plains retained a 2% net smelter return (NSR) on the claims.

Can Kodiak reduce the NSR on the Ketch and Portland properties (EGPLF)?

Yes. Kodiak has the right to buy back 1% of the NSR for $1.75 million.

How will Eagle Plains (EGPLF) be paid for the Ketch and Portland properties?

Payment will be in an aggregate of 300,000 shares of Kodiak rather than cash.

When is the effective date of the Eagle Plains and Kodiak property purchase agreement?

The agreement is dated October 10, 2025 and was announced October 20, 2025.