Eagle Plains Partner Refined Energy Completes First Drill Hole at Dufferin West; Second Hole Underway to Test High-Priority EM Conductor

Rhea-AI Summary

Eagle Plains (OTCQB:EGPLF) reports partner Refined Energy completed DW26-001 to 432m, intersecting the targeted unconformity at 332 metres. DW26-002 is underway ~100m south to test the same high-priority EM conductor and a gravity low. Initial program is a minimum of three holes (~1,200m) with an approx. $1.7M budget; core sampling and assays are pending.

Positive

• DW26-001 reached unconformity at 332 metres
• First hole completed to 432 metres in basement rock
• Initial drill program planned: ≥3 holes totaling ~1,200 metres
• Program initial budget: approx. $1.7 million
• Ground gravity: 817 stations over ~530ha refined targets

Negative

• Core samples submitted; assay results pending
• Historical results cited are unverified by a Qualified Person

CRANBROOK, BC / ACCESS Newswire / March 17, 2026 / Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") is pleased to announce that partner Refined Energy Corp (CSE: RUU; OTC: RFMCF; FRA: CWA0) ("Refined") has completed the first drill hole at Eagle Plains' 100% owned Dufferin West Property, Saskatchewan.

Refined holds the exclusive option to acquire up to a 75% interest in the 10,140ha Dufferin Project, which is made up of the North and West Dufferin properties, located adjacent to NexGen Energy's SW3 Property and approximately 18km from Cameco's Centennial Deposit where historic drill hole VR-031W3 intersected 8.78% U308 over 33.9m (SMAF 74G12-0061).

Highlights

• Maiden drill hole (DW26-001) successfully reached targeted unconformity depth at 332 metres, validating the Company's geological model;

• Second drill hole (DW26-002) now underway testing the same high-priority EM conductor and associated structural target;

• Ground gravity survey completed to further refine drill targets

• Initial drill program planned for a minimum of three holes totaling approximately 1,200 metres

Drill hole DW26-001 intersected the unconformity at a depth of 332 metres and was completed in basement rock at 432 metres. Core logging and sampling are underway, with samples to be submitted to an accredited laboratory for detailed analysis and assay results.

MWH Geo-Surveys recently completed a ground gravity survey across the target area. A total of 817 unique stations in a 50m by 100m grid were surveyed covering approximately 530ha. Preliminary results have been incorporated into the targeting of the second drill hole and will be further utilized for targeting the planned third drill hole.

The second drill hole, DW26-002, is now underway, located approximately 100 metres south of the first hole. The hole is designed to further evaluate the same electromagnetic ("EM") conductor defined by previous airborne VTEM data and refined by a recently completed time-domain moving loop EM (TEM) ground geophysical program.

The second hole is also designed to test the interpreted intersection of the EM conductor with a gravity low, believed to represent a cross-cutting N70 structural fault - a structural setting commonly associated with Athabasca Basin uranium mineralization.

The current drill program is designed to test multiple high-priority geophysical and structural targets and is planned to consist of a minimum of three drill holes totalling approximately 1,200 metres, with oriented core collection to provide critical geological and structural information. The initial budget is approximately $1.7 million.

See Dufferin Project Information and Map here

The Dufferin Project is located on or in close proximity to the known trace of the Virgin River Shear Zone and related splays which are key structures for potential uranium mineralization.

The Project is prospective for unconformity- and basement-hosted uranium mineralization in proximity to the Virgin River Shear Zone. Faulted basement contacts and brittlely reactivated structures are the primary locations for mineralization in the area covered by the Dufferin Project. The relatively high concentration of secondary uranium-bearing minerals demonstrated by prior exploration work on the Dufferin Project may also indicate uranium mineralization remobilization may play an important role in this region of the Athabasca Basin. Geophysical EM and magnetic anomalies demonstrated by prior exploration work on the Dufferin Project are supported by previous uranium and boron soil and lake sediment anomalies along the inferred fault zones, which are expected to aid in focusing future exploration programs.

Some of the above results were taken directly from the SMDI descriptions and assessment reports (SMAF) filed with the Saskatchewan 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.

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 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 on October 30, 2025, ER shareholders overwhelmingly approved a three-cornered amalgamation that resulted in a reverse takeover of Eagle Royalties by Summit Royalty Corp. The resulting issuer is named Summit Royalties Ltd. and trades under the symbol SUM on the TSX Venture Exchange with a market capitalization of over $100M.

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 $41M, 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 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

FAQ

What did Eagle Plains (EGPLF) report about the first Dufferin West drill hole on March 17, 2026?

The company reports DW26-001 hit the unconformity at 332 metres, completed to 432 metres. According to Eagle Plains, core logging and sampling are underway and samples have been submitted to an accredited lab for assay.

How many drill holes and metres are planned for Eagle Plains' Dufferin West initial program (EGPLF)?

The initial program is planned for a minimum of three holes totalling ~1,200 metres. According to Eagle Plains, oriented core will be collected to provide geological and structural information during the program.

What is the budget for the Dufferin West initial drill program announced by Eagle Plains (EGPLF)?

The company budgeted approximately $1.7 million for the initial drill program. According to Eagle Plains, this budget covers the minimum three-hole program, oriented core collection, and related ground surveys and targeting work.

What is the target of drill hole DW26-002 at Dufferin West (EGPLF)?

DW26-002 is testing the same high-priority EM conductor and a gravity low interpreted as a N70 structural fault. According to Eagle Plains, the hole is ~100 metres south of DW26-001 and is currently underway.

What geophysical work supported the Dufferin West drill targeting for Eagle Plains (EGPLF)?

A time-domain moving loop EM and a ground gravity survey supported targeting, with 817 stations across ~530ha. According to Eagle Plains, preliminary gravity results were incorporated into DW26-002 targeting and planning for DW26-003.

Does Eagle Plains (EGPLF) have verified historical uranium results at Dufferin Project?

No; management cautions historical results were collected by past operators and have not been verified by a Qualified Person. According to Eagle Plains, those historical data form a basis for ongoing exploration but require confirmation.