Eagle Plains Announces Closing of Saskatchewan Property Sale
Rhea-AI Summary
Eagle Plains (OTCQB:EGPLF / TSX-V:EPL) announced closing of a conditional sale to Trident Resources (OTCQB:TRDTF / TSX-V:ROCK) of seven non‑core Saskatchewan claim blocks totaling 4,711 ha in the La Ronge Gold Belt.
Consideration: $5,000 cash plus a retained 2% NSR (half purchasable for $1,000,000); transaction is non‑arm's‑length and relied on specified MI 61‑101 exemptions. A qualified person reviewed technical disclosure.
Positive
- Divested 4,711 ha of non‑core claims in La Ronge Gold Belt
- Retained a 2% Net Smelter Royalty, preserving upside
- Half of NSR can be sold for $1,000,000 providing potential cash inflow
Negative
- Cash consideration of only $5,000 indicates minimal immediate proceeds
- Transaction is non‑arm's‑length, requiring disclosure and reviewable status
News Market Reaction – EGPLF
In the Apr 21 session, EGPLF declined 4.69%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
CRANBROOK, BC / ACCESS Newswire / April 21, 2026 / Eagle Plains Resources Ltd. (TSX-V:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") is pleased to announce that, further to its news release dated February 26, 2026, it has has received conditional approval from the TSX Venture Exchange to close the purchase and sale agreement with Trident Resources Corp. (TSX-V:ROCK)(OTCQB:TRDTF) ("Trident") on seven individual non core claim blocks in Saskatchewan totalling 4,711ha, a Non-Arm's-Length transaction.
The projects are located in the La Ronge Gold Belt, and are contiguous with Trident's extensive land holdings in the area.
Agreement terms
Under the terms of the agreement, Trident will purchase a
The agreement is a Non-Arm's-Length transaction, as such term is defined in the TSX Venture Exchange's Policy 1.1, and therefore constituted a related party transaction, as such term is defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Tim Termuende is a director and officer of Eagle Plains, and is also a director of Trident.
In respect of the requirements of MI 61-101 and exchange Policy 5.9, the company relied on the exemptions from the formal valuation and minority approval required under MI 61-101. The company was exempt from the formal valuation requirement of MI 61-101 in reliance of sections 5.5(b) as no securities of the company are listed on the specified markets outlined therein. Additionally, the company was exempt from minority shareholder approval of MI 61-101 in reliance of Section 5.7(1)(a) (fair market value not more than 25 per cent of the company's market capitalization).
In accordance with the exchange Policy 5.3, the agreement constitutes a reviewable transaction, as such transaction involves a non-arm's-length party.
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 an officer and director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.
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
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 2010-2025 on Eagle Plains-related projects exceed
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 Andrew Wilson at 1 866 HUNT ORE (486 8673)
Email: abw@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