Mr. Matthew Markin reports

EAGLEONE PROVIDES RESULTS OF PHASE I EXPLORATION ON ITS MAGUSI WEST GOLD PROJECT

Eagleone Metals Corp. has released the results of its phase 1 exploration program on the Magusi West gold project it holds in southern Hebecourt township, Quebec. The project is situated within the Abitibi greenstone belt, one of the world's most richly endowed gold-producing regions with over 200 million ounces of gold produced to date. The project is well located within the district with past and present operating gold mines to the west, as well as numerous past and present copper and gold mines to the east.

The phase 1 program on the project consisted of detailed ground geophysics composed of magnetometer, very low frequency electromagnetic and induced polarization surveys. This work was followed by soil sampling, outcrop stripping and channel sampling, plus geological mapping and whole rock sampling of selected exposed outcrops to detect lithogeochemical indicators for potential gold and base metal (copper and zinc) mineralization.

The sampling portion of the program involved the collection of 618 soil samples from various regions of the project. Key highlights from the results include the following:

• 10 samples that assayed 0.02 part per million gold or above with a high of 0.156 ppm;
• Seven samples that assayed 100 ppm copper or above with a high of 186 ppm; and
• 21 samples that assayed 150 ppm zinc or above with a high of 200 ppm.

To better interpret the soil survey results, response ratios were determined for the survey data set. Examination of the soil survey analytical results (both raw data and response ratios) demonstrates that the values obtained were uniform. This is most likely due to the sampled surface layer being primarily derived from silt- and clay-rich soil formed from the extensive, unconsolidated glaciolacustrine sediments (often varved clays) deposited by the immense postglacial Lake Ojibway.

The company's consulting geologists also constructed a geochemical probability plot to visualize geochemical data to understand its distribution, identify distinct populations, and estimate background and anomalous values.

These two techniques both identified three clusters of anomalous values among the soil assay results. The two most interesting clusters are located within the southern half of the property. The western cluster occurs a short distance north of, and partially flanks, the Baie Fabie fault zone, a short distance southeast of a possibly synvolcanic diorite intrusion that intrudes mafic to intermediate metavolcanic flows (primarily basalt and andesite), intermediate metavolcanic rocks (dacire) and felsic metavolcanic flows (rhyolite). The larger eastern cluster flanks the Baie Fabie fault zone in close association with a potentially synvolcanic diorite body intruding andesite and rhyolite. This cluster extends about 600 metres south of the fault and about 700 metres in an east-west direction.

The company's consulting geologists recommend that both of these clusters be examined further by having the resistivity and chargeability data from the IP geophysical survey expressed on colour plan maps. Additionally, the two types of IP data should be accompanied by several subsurface depth slices that will display the information originally provided by IP pseudosections on coloured plan maps that are easier to understand and will highlight any anomalous patterns that may be present. Any anomalies expressed on these maps that coincide with, or are located up ice from, the soil anomaly clusters will then comprise suitable targets for follow-up exploration, particularly as diamond drill targets. The consulting geologists recommend obtaining several plan plots (50 m, 100 m and 150 m) of the IP results and overlay them onto the other data (magnetics, EM conductors and soils) and identify potential drill targets.

Due to the extensive clay cover, exploration in the south region of the project is challenging. There is outcrop of the intrusive diorite and also volcanics, but not in the area of the diorite margin in contact with the volcanics, which appears most interesting in the soil data.

Qualified person

Allan MacTavish, MSc, PGeo, a qualified person who is independent of the company, as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed and approved the technical content of this news release.

About Eagleone Metals Corp.

Eagleone is a Canadian-based precious and base metal explorer that holds the option to acquire a 100-per-cent interest, subject to a 2-per-cent net smelter return royalty, in 11 claims comprising the Magusi West gold project, which is located in the Abitibi greenstone belt of Quebec -- one of the world's most productive and highest-ranked gold mining jurisdictions. The company seeks to unlock shareholder value through the diligent exploration of carefully selected exploration projects in some of Canada's most prolific exploration and mining areas. Eagleone is committed to all stakeholders, including shareholders, all its partners and the environment in which it operates.

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