Eagle Plains Announces Sale Agreement for Rusty Springs Property, YT

Rhea-AI Summary

Eagle Plains (OTCQB:EGPLF) entered a purchase and sale agreement dated October 29, 2025 to transfer 100% of the Rusty Springs silver-lead-zinc-copper project to Blackcomb Silver in exchange for 5 million Blackcomb common shares.

Eagle Plains retains a 0.5% NSR on current EPL claims and a 1.5% NSR on 343 additional claims (Blackcomb may buy 0.5% for $1,000,000). Eagle Plains can receive an additional 5 million shares if Blackcomb delivers an inferred resource of at least 80 million silver-equivalent ounces. The combined land package is approximately 7,540 hectares.

Positive

• 5.0M Blackcomb shares received as upfront consideration
• Additional 5.0M shares tied to 80M Ag‑eq inferred resource
• 0.5% NSR retained on current Eagle Plains claims
• 7,540 hectares combined Rusty Springs land package

Negative

• Consideration is share-based with no cash proceeds at closing
• Additional 5.0M shares are contingent on an 80M Ag‑eq inferred resource
• Existing 2% NSR held by Eagle Royalties may limit future proceeds
• Blackcomb can buy 0.5% NSR for $1,000,000 reducing EPL royalty

CRANBROOK, BC / ACCESS Newswire / November 3, 2025 / Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") is pleased to announce it has entered into a purchase and sale agreement, dated October 29, 2025, with Blackcomb Silver Corp. ("Blackcomb"), a private BC company, where by Blackcomb has acquired a 100% interest in Eagle Plains' wholly-owned Rusty Springs silver-lead-zinc-copper project (the "Rusty Springs Property").

Under the terms of the agreement, Eagle Plains will grant a 100% interest in the Rusty Springs Property to Blackcomb in exchange for 5 million common shares of Blackcomb. In addition, Eagle Plains will retain a 0.5% NSR on the current Eagle Plains claims, and an additional 1.5% NSR on 343 additional claims staked by Blackcomb, of which Blackcomb may purchase 0.5% for $1,000,000. Eagle Plains will receive an additional 5 million shares upon Blackcomb delivering an inferred resource estimate of a minimum of 80 million silver equivalent ounces. The current Eagle Plains claims have a 2% NSR held by Eagle Royalties, subject to a buy-back clause by which EPL can purchase 1% from Eagle Royalties for $1M.

The Blackcomb and Eagle Plains claims form a land package of approximately 7540 hectares.

Chuck Downie, President and CEO of Eagle Plains recently commented "We are very excited to return to our Company roots and embark on another chapter of exploration at our original listing property. The multi-square kilometer footprint of alteration, anomalous multi-element geochemistry and high-grade silver mineralization at Rusty Springs indicates the presence of a significant mineralizing event. We believe that discovery potential exists both in the areas of historic work and within the broader claim area."

Tim J. Termuende, Executive Chairman of Eagle Plains added: "Rusty Springs holds a special place in my heart, owing to our long family history of the project which dates back nearly 50 years since its initial discovery and staking by my father and his colleagues in the mid-1970's. It is an extremely well-endowed area with geology and mineralization that has perplexed many who have worked there over the years. We wish Blackcomb the very best in their exploration efforts and remain enthusiastic shareholders and supporters."

See Rusty Springs Project Information and Map here

About Rusty Springs

Rusty Springs Property is located in Yukon, Canada about 8 km south of the Arctic Circle and 29 km east of the Alaska border. Access is by wheel/ski-equipped aircraft or by winter road. The great extent of mineralized and altered rocks, stratabound nature and common significant thicknesses, high grades and potential for supergene enrichment make Rusty Springs an attractive target for large-tonnage base and precious-metal deposits. Rusty Springs was discovered in 1975 after investigation of the deep red-orange springs and seeps in the valley of Carrol Creek led to the discovery of nearby Ag, Pb, Zn, and Cu mineralization. The property hosts silver-lead-zinc mineralization associated with a 25-40m thick replacement horizon within carbonate rocks. Some 35 showings are present within the property area and consist of both high-grade vein occurrences and replacement mineralization.

Since the original staking of the property in 1975, Eagle Plains personnel and others have defined mineralization over a 6 square kilometer area. Drilling highlights from the property include hole 77-08 which was reported to have returned:

• 945g/t (30.38 oz/t) silver, 4.72% lead, and 2.30% copper over 37.5m (123') from surface to a depth of 37.5m (Yukon Energy Mines and Resources Assessment Report 092030).

Eagle Plains acquired the property in 1992 and in 1995, drilled Hole 95-07, which was located 1.5 km from hole 77-08 and tested the same stratigraphic interval as Hole 77-08, returning:

• 517g/t (15.1 oz/t) silver, 3.0% copper, and 1.3% zinc over 15.3m from 28.6m to 43.9m (Yukon Energy Mines and Resources Assessment Report 093417).

Since its discovery, the property has seen nearly $5m exploration activity, including ten separate drill campaigns in two major phases (1975-83 and 1994-96) totalling over 10,000 m of drilling in 123 holes.

Exploration has mainly targeted high-grade Ag, Pb, Cu, and Zn mineralization within brecciated and quartz and carbonate cemented and veined dolomite, and has been based on several genetic models including: Mississippi Valley-type ("MVT"); Irish-type (carbonate hosted exhalative); epithermal-type (veins and/or hydrothermal replacement along a karsted surface, with supergene enrichment); and manto-chimney-type (high temperature, carbonate-hosted massive sulphides).

Management cautions that some of the 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.

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.

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 $110,000,000 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 October 30, 2025, ER shareholders overwhelmingly approved a three-cornered amalgamation that will result in a reverse takeover of Eagle Royalties by Summit Royalty Corp. 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. The resulting issuer will be named Summit Royalties Ltd. and will trade under the symbol SUM on the TSX Venture Exchange. The transaction is expected to close on or about November 4, 2025.

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: info@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) agree to sell on October 29, 2025?

Eagle Plains agreed to transfer 100% of the Rusty Springs silver‑lead‑zinc‑copper project to Blackcomb Silver for 5 million Blackcomb shares.

How many Blackcomb shares will EGPLF receive if a resource milestone is met?

Eagle Plains will receive an additional 5 million Blackcomb shares if Blackcomb delivers an inferred resource ≥ 80 million silver‑equivalent ounces.

What royalties did Eagle Plains retain on Rusty Springs after the sale?

Eagle Plains retains a 0.5% NSR on current EPL claims and a 1.5% NSR on 343 additional claims, with Blackcomb able to buy 0.5% for $1,000,000.

How large is the Rusty Springs land package after the transaction?

The combined Blackcomb and Eagle Plains claims form a land package of approximately 7,540 hectares.

Will Eagle Plains receive cash from the Rusty Springs sale?

No cash was reported at closing; initial consideration is 5 million Blackcomb shares, with potential additional shares upon a resource milestone.

Does any third‑party royalty affect Eagle Plains' Rusty Springs proceeds?

Yes; current Eagle Plains claims have a 2% NSR held by Eagle Royalties, subject to EPL buying 1% back for $1,000,000.