Earthwise Minerals Approves 2026 Drill Program to Advance Talon Zone at Iron Range Gold Project

Rhea-AI Summary

Earthwise Minerals (OTCQB:EWISF / CSE:WISE) approved a 2026 exploration program at the Iron Range Gold Project (option to earn up to 80% from Eagle Plains, TSX-V:EPL/OTCQB:EGPLF).

The program funds a minimum of 1,200 metres of diamond drilling (three holes) targeting the Talon Zone, with drilling to commence in mid-May 2026. Historical Talon results include 56.5 m @ 1.9 g/t Au and higher-grade shoots (e.g., 14.0 m @ 5.1 g/t Au; 7.1 m @ 8.13 g/t Au).

Option terms: first phase to 70% via CA$250,000 cash, 1,500,000 shares and CA$4,000,000 exploration over four years; second phase to 80% for CA$1,000,000 and a bankable feasibility study. A 2% NSR applies (1% buyback CA$1,500,000). Management notes historical results are unverified by a Qualified Person.

Positive

• 1,200 metres diamond drilling approved targeting Talon Zone
• Drilling scheduled to start mid-May 2026
• Option to earn up to 80% interest in Iron Range Project
• Historical intercept: 56.5 m @ 1.9 g/t Au
• Historical higher-grade: 14.0 m @ 5.1 g/t Au

Negative

• First-phase option requires CA$4.0M exploration over four years
• First-phase consideration includes issuance of 1,500,000 shares
• Securing 80% requires additional CA$1.0M and a feasibility study
• A 2% NSR applies (1% repurchase for CA$1.5M)
• Historical results are unverified by a Qualified Person

Key Figures

Planned drilling 2026: 1,200 metres Historical intercept: 56.5 metres @ 1.9 g/t gold High-grade interval: 14.0m @ 5.1 g/t Au, 1.86% Pb, 2.10% Zn, 75.3 g/t Ag +5 more

8 metrics

Planned drilling 2026 1,200 metres Minimum diamond drilling for Talon Zone program

Historical intercept 56.5 metres @ 1.9 g/t gold IR10-010 mineralized shear zone at Talon Zone

High-grade interval 14.0m @ 5.1 g/t Au, 1.86% Pb, 2.10% Zn, 75.3 g/t Ag Historical Talon Zone drilling

High-grade interval 7.1m @ 8.13 g/t Au, 2.84% Pb, 3.07% Zn, 86.6 g/t Ag Historical Talon Zone drilling

Historical drilling 21,593 metres (87 holes) Cumulative drilling at Iron Range Gold Project

Geophysical surveys 2,482 line-kilometers Airborne and surface geophysical work completed historically

Exploration spend requirement CA$4,000,000 First Option exploration expenditures over four years

Cash and shares option terms CA$250,000 + 1,500,000 shares Payments and issuances to earn 70% interest (First Option)

Market Reality Check

Price: $0.1490 Vol: Volume 28,900 is below th...

low vol

$0.1490 Last Close

Volume Volume 28,900 is below the 20-day average of 51,742, showing limited participation in the move. low

Technical Price at 0.16 is trading above the 200-day MA of 0.12, reflecting a pre-existing upward bias.

Peers on Argus

EGPLF gained 8.11% while key peers like RUGBY RES LTD (-54.52%) and NEOTECH META...

EGPLF gained 8.11% while key peers like RUGBY RES LTD (-54.52%) and NEOTECH METALS CORP (-9.42%) declined, indicating a stock-specific reaction rather than a sector-wide move.

Historical Context

5 past events · Latest: Apr 27 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 27	Project option LOI	Neutral	-1.1%	Non-binding LOI for Haskins project option with staged shares and spending.
Apr 21	Property sale	Neutral	-4.7%	Sale of non-core Saskatchewan claims for cash plus retained NSR royalty.
Mar 17	Partner drilling update	Neutral	-3.3%	Partner completed first Dufferin West hole; multi-hole drill program underway.
Mar 10	Drill program completion	Neutral	+0.0%	Three-hole, 1,591m George Lake program completed with target horizon intersected.
Mar 04	Drilling progress	Neutral	-3.9%	Step-out holes at George Lake intersected Zn/Pb horizon; program advancing.

Pattern Detected

Recent company news has often been followed by modest negative or flat price reactions, making today’s positive move stand out relative to the last five releases.

Recent Company History

Over the last few months, Eagle Plains reported option and property transactions and multiple drilling updates. News on the Haskins project LOI (Apr 27) and a Saskatchewan property sale (Apr 21) saw mild negative follow-through of -1.06% and -4.69%. March updates on partners’ drilling at Dufferin West and Eagle Plains’ own George Lake work, including programs up to 1,591m, also produced flat-to-negative reactions. Against this backdrop, today’s exploration-focused announcement at Iron Range coincides with a notably stronger positive price response of 8.11%.

Market Pulse Summary

This announcement outlines a 2026 drill program of at least 1,200m at the Talon Zone within the Iron...

Analysis

This announcement outlines a 2026 drill program of at least 1,200m at the Talon Zone within the Iron Range Gold Project, underpinned by extensive historical work of 21,593m of drilling and 2,482 line-km of geophysics. High-grade historical intercepts highlight the target’s potential, while the option terms tie Earthwise’s ownership to staged spending and study requirements. Investors may watch execution of the drill plan, assay results, and progress toward the option milestones.

Key Terms

diamond drilling, iron-oxide copper-gold ("IOCG"), sedimentary-exhalative ("SEDEX"), smelter returns royalty, +3 more

7 terms

diamond drilling technical

"includes a minimum of 1,200 metres of diamond drilling targeting the Talon Zone"

Diamond drilling is a method that uses a rotating drill with industrial diamonds on the bit to cut and retrieve cylindrical rock samples (cores) that preserve the sequence of underground layers. For investors, these cores act like a geological “biopsy,” providing direct, verifiable information about mineral presence, grade and continuity—data that underpins resource estimates, project valuation, drilling risk and financing decisions.

iron-oxide copper-gold ("IOCG") technical

"prospective for structurally controlled gold-silver mineralization, as well as iron-oxide copper-gold ("IOCG")"

A mineral deposit type where iron-rich rocks host concentrations of copper and gold, often with other valuable metals; think of it as a naturally concentrated pantry where several useful ingredients are stored together. Investors care because these deposits can be very large and produce long-lived, high-value mines, but they also require expensive exploration and processing and carry uncertainty about how much recoverable metal is actually present.

sedimentary-exhalative ("SEDEX") technical

"and sedimentary-exhalative ("SEDEX") lead-zinc-silver systems"

Sedimentary-exhalative ("sedex") describes a type of mineral deposit formed when metal-rich fluids vent onto a seafloor or lakebed and settle into soft sediment, creating layered concentrations of lead, zinc and often silver. For investors, sedex deposits matter because they tend to be large, layered reserves that can support long-life, bulk-mining operations and influence a project’s scale, production profile and cost structure; they also carry exploration and environmental considerations tied to seabed mining.

smelter returns royalty financial

"a 2% smelter returns royalty will be granted to the Eagle Plains over the entire property"

A smelter returns royalty is a payment owed to a third party based on the value or amount of metal actually recovered and paid for by a smelter or refinery after ore is processed. Think of it like a share of the final paycheck from a factory that turns raw material into a finished product; it reduces the cash the mine keeps from each sale and therefore directly affects project profit, cash flow and investor returns.

bankable feasibility study technical

"and completing a bankable feasibility study on the Property, before the eighth anniversary"

A bankable feasibility study is a comprehensive, independently reviewed analysis that shows whether a proposed project is technically sound, legally clear, environmentally acceptable and financially viable enough for banks or other lenders to provide long-term financing. Think of it as a detailed business plan plus an inspector’s report that quantifies costs, revenue forecasts and key risks; investors use it as evidence that the project can deliver returns and secure the funding needed to proceed.

National Instrument 43-101 regulatory

"for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects"

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

joint venture ("JV") financial

"shall then form a 70/30 or 80/20 joint venture ("JV") to further explore"

A joint venture (JV) is a business arrangement where two or more companies create and jointly own a separate business for a specific project or market, sharing resources, costs, risks and profits. For investors, a JV matters because it can accelerate growth or market entry without a full merger, change each partner’s revenue and risk profile, and affect future earnings and balance sheet exposure—like neighbors pooling money and labor to build a shared driveway that alters both households’ expenses and value.

AI-generated analysis. Not financial advice.

VANCOUVER, BC / ACCESS Newswire / April 30, 2026 / Earthwise Minerals Corp. (CSE:WISE)(FSE:966)(OTCQB:EWISF) ("Earthwise" or the "Company") has approved a 2026 exploration program at the Iron Range Gold Project in southeastern British Columbia, where it holds an option to earn up to an 80% interest from Eagle Plains Resources Ltd. (TSX-V:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") which will operate the program.

The approved program includes a minimum of 1,200 metres of diamond drilling targeting the Talon Zone, where historical drilling has intersected broad intervals of gold, silver, lead, and zinc mineralization. The Iron Range Project is owned 100% by Eagle Plains, and Earthwise holds the exclusive option to acquire up to an 80% interest in the project.

The Iron Range Project is considered prospective for structurally controlled gold-silver mineralization, as well as iron-oxide copper-gold ("IOCG") and sedimentary-exhalative ("SEDEX") lead-zinc-silver systems. Terralogic Exploration Inc. will manage and support the execution of the drill program.

Drilling will focus on the Talon Zone structure, where previous drilling intersected strong and continuous mineralization, including significant gold, silver, lead, and zinc mineralization (see Historical Drill Results below).

The program is expected to consist of three drill holes, with two holes designed to cross-cut the Talon structure and one hole testing mineralization along strike and at depth. Drilling is scheduled to commence in mid-May 2026.

Historical Drill Results - Talon Zone

Historical drilling (Drill Hole IR10-010, total depth 313.80 m) at the Talon Zone has defined a mineralized shear zone of significant thickness, including 56.5 metres grading 1.9 g/t gold (Eagle Plains Resources Ltd., News Release dated December 21, 2010), within which multiple higher-grade gold shoots have been intersected. Notable higher-grade intercepts include:

• 14.0 metres grading 5.1 g/t gold, 1.86% Pb, 2.10% Zn and 75.3 g/t Ag (Eagle Plains Resources Ltd., News Release dated December 21, 2010)

• 7.1 metres grading 8.13 g/t gold, 2.84% Pb, 3.07% Zn and 86.6 g/t Ag (Eagle Plains Resources Ltd., News Release dated December 21, 2010)

These results demonstrate a broad mineralized corridor hosting discrete higher-grade zones within a structurally controlled system.

Established Exploration Foundation

The Iron Range Gold Project has been supported by extensive historical exploration, including:

• 21,593 metres of diamond drilling (87 holes)

• 2,482 line-kilometers of airborne and surface geophysical surveys

• More than $8 million in historical exploration expenditures

Geophysical surveys, including VTEM and induced polarization ("IP"), have identified chargeability anomalies associated with known mineralization, as well as additional untested targets along the structural corridor.

Soil geochemical surveys at Talon have identified coincident arsenic, lead and zinc anomalies consistent with sulphide-bearing mineralization intersected in drilling.

Project Location & Regional Context

The Iron Range Gold Project comprises approximately 21,437 hectares near Creston in southeastern British Columbia, within a well-established mining jurisdiction. The property is accessible via Highway 3 and supported by regional rail, power and natural gas infrastructure.

The project is situated within the Proterozoic Belt-Purcell Supergroup and along the Iron Mountain Fault Zone, a major regional structural corridor extending approximately 90 kilometers, of which more than 50 kilometers are covered by the property. The Talon Zone is located within this structural corridor, where deformation and hydrothermal activity are associated with sulphide mineralization.

Iron Range lies within the same regional stratigraphic succession that hosts the historic Sullivan deposit, underscoring the geological fertility of the broader belt. The Sullivan deposit is referenced for regional geological context only and is not indicative of mineralization at the Iron Range Gold Project.

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.

Iron Range Option Agreement Details

To exercise the Option, Earthwise must make a series of cash payments and share issuances to Eagle Plains and fund exploration expenditures on the Project. These payments, share issuance and expenditures are separated into two phases, with the first Option entitling the Company to acquire a 70% interest in the Project by paying CA$250,000, issuing an aggregate of 1,500,000 common shares to EPL and funding CA$4,000,000 in exploration expenditures on the Project over a four-year term. Pursuant to the second phase of the Option, the Company may acquire an additional 10% interest in the Project (for an 80% total interest) by notifying Eagle Plains of its intent to increase its interest to 80% and making an additional one-time payment of CA$1,000,000 cash, and completing a bankable feasibility study on the Property, before the eighth anniversary of the Option.

If the First Option or the Second Option is exercised, a 2% smelter returns royalty will be granted to the Eagle Plains over the entire property, 1% of which may be repurchased for CA$1,500,000.

Eagle Plains will serve as Operator under the terms of Option and will reserve the right to use TerraLogic Exploration Inc. as geoscience consultant. Following the exercise of either Option 1 or 2, Earthwise and Eagle Plains shall then form a 70/30 or 80/20 joint venture ("JV") to further explore and develop the Property.

Qualified Person

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

About Earthwise Minerals

Earthwise Minerals Corp. (CSE:WISE)(FSE:966)(OTCQB:EWISF) is a Canadian junior exploration company focused on advancing the Iron Range Gold Project in southeastern British Columbia near Creston, B.C. The Company holds an Option to earn up to an 80% interest in the fully permitted project, which is road-accessible and situated within a prolific mineralized corridor. The property covers a 10 km x 32 km area along the Iron Range Fault System and hosts multiple high-grade gold showings and large-scale geophysical and geochemical anomalies.

For more information, visit www.earthwiseminerals.com.

EARTHWISE MINERALS CORP.,

ON BEHALF OF THE BOARD

"Mark Luchinski"

Contact Information:

Mark Luchinski
Chief Executive Officer, Director
Telephone: (604) 506-6201
Email: luch@luchccorp.com

Forward Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws and may also constitute "forward-looking statements" within the meaning of United States securities laws (collectively, "forward-looking statements"). Forward-looking statements in this release include, but are not limited to, statements regarding the Company's future plans, exploration programs, development activities, and the potential of its mineral properties.

Forward-looking statements are based on the current expectations, estimates, beliefs and assumptions of management as of the date hereof. Such statements are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to exploration and development activities, commodity prices, market conditions, availability of financing, regulatory approvals, environmental risks, and general economic conditions.

Although the Company believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated. Readers are cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements are made as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable law.

Historical and Technical Information.

Certain technical and historical information contained in this news release is derived from prior exploration work conducted by third parties. While the Company believes such information to be reliable, it has not independently verified all such information and therefore it should not be relied upon as an indication of current mineral resources or reserves, nor as a guarantee of future exploration results.

U.S. Securities Disclaimer

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from such registration requirements.

Exchange Disclaimer

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

For more information, please contact Mark Luchinski, Chief Executive Officer and Director, at luch@luchccorp.com or (604) 506-6201.

SOURCE: Earthwise Minerals Corp.

View the original press release on ACCESS Newswire

FAQ

What drilling program did Earthwise announce for Iron Range (EGPLF) in 2026?

Earthwise approved a minimum 1,200 metres diamond drilling program in mid-2026. According to the company, three holes will target the Talon Zone, with two cross-cut holes and one strike/depth test planned to begin mid-May 2026.

How can Earthwise earn an 80% interest in the Iron Range Project from EGPLF?

Earthwise may earn up to 80% through staged payments, shares and expenditures. According to the company, first phase to 70% requires CA$250,000 cash, 1,500,000 shares and CA$4,000,000 exploration over four years.

What historical gold intercepts exist at the Talon Zone relevant to EGPLF investors?

Historical Talon results include 56.5 m @ 1.9 g/t Au and higher-grade shoots. According to the company, notable intercepts include 14.0 m @ 5.1 g/t Au and 7.1 m @ 8.13 g/t Au.

What financial obligations and royalties affect EGPLF shareholders under the option?

The option includes cash, share issuance and exploration spending plus a 2% NSR. According to the company, 1% of the NSR may be repurchased for CA$1,500,000 if options are exercised.

Who will operate the 2026 drill program at Iron Range (EGPLF)?

Eagle Plains will operate the program with TerraLogic as consultant and manager. According to the company, Eagle Plains reserves operator rights while Earthwise funds and advances the option terms.

Are the historical drill results at Talon independently verified for EGPLF investors?

Management cautions historical results are not verified by a Qualified Person. According to the company, past results were reported by prior operators and will form a basis for ongoing verification work.