Eagle Plains' Partner Sun Summit Minerals Commences Fieldwork at the Theory Project, Toodoggone District, BC

Rhea-AI Summary

Eagle Plains Resources (OTCQB:EGPLF) announced that its partner Sun Summit Minerals has initiated 2025 fieldwork at the Theory copper-gold project in British Columbia's Toodoggone Mining District. The 9,676-hectare project is strategically located near Thesis Gold's Ranch Project and Sun Summit's JD Project.

The 2025 program, operated by Eagle Plains through TerraLogic Exploration, will focus on identifying drill targets through prospecting, geological mapping, and geochemical sampling, with a minimum budget of $200,000. Historical exploration has revealed significant mineralization, including samples with up to 8.2 g/t Au, 195 g/t Ag, and 6.2% Cu at the DM occurrence, and a substantial 1.6 by 2 kilometer copper-in-soil anomaly.

Positive

• None.

Negative

• Limited historical exploration with sparse regional government surveys
• Significant portions of the property remain underexplored, particularly in south and eastern areas
• Project requires minimum exploration expenditure of $200,000 for 2025

CRANBROOK, BC / ACCESS Newswire / August 21, 2025 / (TSX-V:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") is pleased to announce that partner Sun Summit Minerals Corp. (TSX-V:SMN)(OTCQB:SMREF) ("Sun Summit") has mobilized exploration crews to commence 2025 fieldwork at Eagle Plains' Theory copper-gold project (the "Theory Project"), north-central British Columbia. The property is owned 100% by Eagle Plains, with 122 hectares of the property subject to an underlying 0.5% Net Smelter Royalty held by a third party.

The Theory Project borders Thesis Gold's Ranch Project to the north and is located within 10 km to the North West of Sun Summit's JD Project.Sun Summit signed an option agreement with Eagle Plains to earn up to a 100% interest in the project, located in the highly prospective Toodoggone Mining District. (see press release dated March 17, 2025)

Theory Project Exploration Program

The focus of the 2025 program will be to identify drill targets using prospecting, geological mapping, geochemical sampling and remote sensing to follow up on areas of interest generated through a 2024 airborne geophysical survey and a comprehensive, ongoing data compilation. The proposed work program will have a budget adequate to exceed the minimum required 2025 exploration expenditures of $200,000.

Eagle Plains will serve as operator for the project and the work will be completed by TerraLogic Exploration.

See Theory Project Information and Map here

The 9676ha Theory Project is located in northern BC within the Toodoggone Mining District. The district is endowed with both epithermal gold and porphyry copper-gold deposits, most notably the past producing Kemess Mine owned by Centerra Gold. The Omineca Resource Road provides access to the region from Mackenzie, BC. Recent road upgrades completed in 2023 by Thesis Gold on their Lawyers-Ranch Project brought road access to within 8 kms of the Theory Project.

Geology in the Theory region is primarily comprised of lower Jurassic Hazelton Group volcanics which unconformably overlie late Triassic Takla Group volcanics. The entire package of rocks is intruded by late Triassic and early Jurassic stocks. The majority of the Theory property encompasses the highly prospective Jurassic-Triassic unconformity (~200 Ma), termed by the BC Geologic Survey as the 'Red-Line', which is known to have a high spatial correlation to many of the known deposits throughout the Golden Triangle and Toodoggone.

Exploration by previous operators has been intermittent since the mid-1960's and regional government surveys are sparse, however encouraging mineralization and alteration commonly associated with both epithermal and porphyry systems has been documented. The most significant documented work was completed in 1988 in the north and west areas of the Theory project area. Work consisted primarily of alpine ridge and subalpine prospecting traverses as well as reconnaissance soil sample lines in areas where no outcrop was present. This work documented occurrences of low-sulphidation epithermal-related mineralization including quartz-barite veins with up to 8.2 g/t Au, 195 g/t Ag, and 6.2% Cu at the DM occurrence (BC Minfile 094E 231)*; and a quartz carbonate vein system with up to 6.8 g/t Au and 1,480 g/t Ag at the Fred-1 occurrence (BC Minfile 094E 402)*. The BEV occurrences (BC Minfile 094E 259)*, interpreted as a Cu-Au porphyry target, returned select historical rock results up to 0.47% Cu, 10.5 g/t Ag, and 0.13 g/t Au. Detailed soils revealed a 1.6 by 2 kilometre copper-in-soil anomaly with peak soil results to 920 ppm Cu. Very little work is documented in the south and eastern parts of the property.

Recent exploration success in the area has been highlighted by Thesis Gold's announcement at their Lawyers-Ranch Project of a combined Measured and Indicated Mineral Resource of 4.0 Moz and an Inferred Mineral Resource of 727 Koz at respective grades of 1.51 and 1.82 g/t AuEq. (Thesis Gold, May 1, 2024 News Release) and by Amarc Resources' new high-grade copper-gold-silver discovery at the AuRORA zone of the Joy Project (Amarc Resources, January 17, 2025 News Release).

In late 2023 Eagle Plains acquired the property through staking and third-party agreements. After undertaking initial compilation and interpretation of historical data on the project, Eagle Plains completed a property wide, high resolution airborne magnetic and radiometric survey in July 2024.

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 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. 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 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.

View the original press release on ACCESS Newswire

FAQ

What are the key terms of Sun Summit's option agreement with Eagle Plains (EGPLF) for the Theory Project?

Sun Summit has the option to earn up to 100% interest in the Theory Project, with a minimum required exploration expenditure of $200,000 for 2025. Eagle Plains will serve as the operator through TerraLogic Exploration.

What significant mineralization has been found at Eagle Plains' Theory Project?

Historical exploration revealed high-grade samples including up to 8.2 g/t Au, 195 g/t Ag, and 6.2% Cu at the DM occurrence, 6.8 g/t Au and 1,480 g/t Ag at Fred-1, and a large copper-in-soil anomaly with values up to 920 ppm Cu.

Where is the Theory Project located and what is its size?

The Theory Project is a 9,676-hectare property located in the Toodoggone Mining District of northern BC, bordering Thesis Gold's Ranch Project and within 10 km of Sun Summit's JD Project.

What is the focus of Eagle Plains' 2025 exploration program at the Theory Project?

The 2025 program will focus on identifying drill targets through prospecting, geological mapping, geochemical sampling, and remote sensing, following up on areas of interest from a 2024 airborne geophysical survey.

What is the significance of the 'Red-Line' feature at Eagle Plains' Theory Project?

The 'Red-Line' is a highly prospective Jurassic-Triassic unconformity that has a high spatial correlation to many known deposits throughout the Golden Triangle and Toodoggone regions.