Vancouver, British Columbia--(Newsfile Corp. - March 30, 2026) - EagleOne Metals Corporation (CSE: EAGL) (FSE: I2J) ("EagleOne" or the "Company") is pleased to announce that it has completed the acquisition of a 100% interest in ten mineral claims totaling 206.6 acres comprising the Poison Springs Uranium Project (the "Property"), located approximately 35 miles south of Hanksville, Utah. Pursuant to the agreement, the Company must pay US$50,000 to acquire the 100% interest in the Property.
Matthew Markin, EagleOne's President and C.E.O. stated, "Completing the acquisition of the Poison Springs Uranium Project marks an important step in expanding EagleOne's exposure to critical minerals in the strategically significant United States jurisdiction. The project is situated within a broader district with a history of uranium mineralization, providing a strong foundation for systematic exploration and the potential to define a larger mineralized system.
"This acquisition is fully aligned with our strategy of building a diversified portfolio of assets in established mining regions where we can apply modern exploration techniques and advanced data analysis to improve targeting and increase the probability of discovery across multiple commodities that are essential to the evolving global energy and digital economy."
PROPERTY OVERVIEW
The Property is located within a region of southeastern Utah known for sandstone-hosted uranium mineralization associated with Triassic-age sedimentary units, primarily the sand rich channel units of the basal Chinle Formation. The claims cover prospective stratigraphy and favorable geological settings that have been the focus of historic mining and exploration both on the property and in the broader area.
A limited drill program conducted on the Property in 2008 intersected zones of uranium mineralization at relatively shallow depths in the basal member of the Chinle Formation, interpreted to be the Lower Moss Back Member. In addition to uranium, historical work indicates the presence of associated elements including vanadium copper, silver, cobalt, nickel and rare earth elements; however, these have not been independently verified by the Company.
HISTORICAL MINING ON PROPERTY (1965)
During the mid-1960's a "mom and pop" mining operation extracted and shipped moderate to high-grade uranium mineralized material from the Andrew-Loyd adit (also known as Cedar Point # 2 Mine) over a period of approximately three years. Utah Geological Survey mapped and sampled the mine (1965) collected an assayed two channel samples 0.64% & 0.14% U3O8, and 0.02 V2O5. Shipping records are not available but are assumed to be in the 100-ton range.
HISTORICAL DRILL HIGHLIGHTS (2008 PROGRAM)
Historical drilling has identified shallow uranium mineralization with grades up to approximately 0.18% eU₃O₈ over multi-foot intervals.
Highlights from drilling on the Property include:
- 0.18% eU₃O₈ over 4.8 feet (hole KK-08-54)
- 0.15% eU₃O₈ over 6.5 feet (hole KK-08-44)
- 0.07% eU₃O₈ over 5.0 feet (hole KK-08-41)
- 0.06% eU₃O₈ over 6.9 feet (hole KK-08-60)
- 0.05% eU₃O₈ over 10.0 feet (hole KK-08-49)
Equivalent uranium grades (eU₃O₈) are derived from downhole gamma logging using calibrated probes. The Company cautions that eU₃O₈ values are estimates and may not be directly comparable to chemical assay results. Disequilibrium between uranium and its daughter products may occur and could result in over- or under-estimation of uranium grades.
The Company has not independently verified the historical drilling results and considers them to be reliable for the purposes of this disclosure. Further work will be required to verify these results.
DISTRICT-SCALE EXPLORATION CONTEXT
The Poison Springs Project is located within a broader uranium district that includes multiple historically explored target areas, including North Hatch Canyon and Sams Mesa.
Historical exploration and field studies conducted in the North Hatch Canyon area have documented widespread evidence of uranium mineralization, including mineralized outcrops, shallow underground workings, and numerous drill holes. A 2010 field program reported that approximately 40 drill holes were identified, with 30 accessible for downhole probing and approximately two-thirds exhibiting anomalous gamma responses.
Uranium mineralization within the district is interpreted to occur within paleochannel-hosted sandstones of the Triassic Chinle Formation, particularly within the Monitor Butte and Mossback members, and is commonly associated with carbonaceous material and copper mineralization.
Historical drilling conducted by prior operators in the Sams Mesa area indicates the presence of uranium mineralization over a broad area. Digitized records from legacy datasets suggest that multiple drill holes encountered mineralization, including intervals interpreted to range from less than 0.15% up to approximately 0.30-0.40% U₃O₈.
A historical report by the U.S. Bureau of Mines estimated uranium resources within portions of the Orange Cliffs area at approximately 166,625 tons grading 0.21% uranium, containing approximately 666,500 pounds of uranium. These estimates are historical in nature, are not compliant with National Instrument 43-101, and should not be relied upon.
Reconnaissance-scale handheld XRF sampling conducted in the North Hatch Canyon area identified anomalous concentrations of copper and associated pathfinder elements consistent with sandstone-hosted uranium systems observed throughout the region.
The Company cautions that the data referenced above, including historical drilling, digitized datasets, radiometric readings, and XRF results, are preliminary or historical in nature, have not been independently verified by the Company, and are not necessarily indicative of mineralization on the Poison Springs Project.
EXPLORATION POTENTIAL
The Company believes the Property is prospective for sandstone-hosted uranium mineralization based on its geological setting, favorable stratigraphy, and proximity to known mineralized systems within the district. The combination of shallow mineralization on the Property and widespread uranium occurrences identified throughout the district highlights the potential for the development of a larger mineralized system. Future work programs are expected to include geological mapping, radiometric surveys, and follow-up drilling designed to confirm and expand known zones of mineralization.
QUALIFIED PERSON
The scientific and technical information in this news release has been reviewed and approved by Gregory L. Hunt, P. Geo., a Qualified Person as defined by National Instrument 43-101. Mr. Hunt has personal knowledge of the property but is not independent of the Company within the meaning of NI 43-101 as he is one of the vendors of the Property.
The historical information regarding the Poison Springs property and surrounding areas is taken from H. Doelling & J Morgan (August 1965) and public information from the Utah Geological Survey.
ABOUT EAGLEONE METALS CORP.
EagleOne is a Canadian based precious, base, and critical mineral exploration company focused on building a diversified portfolio of assets in established mining jurisdictions across North and South America. The Company's strategy is centered on the systematic evaluation of prospective geological environments using modern exploration techniques and advanced data analysis to improve targeting and increase the probability of discovery.
Poison Springs Uranium Project, Utah, United States
Focused on uranium and associated critical elements including vanadium, copper, silver, cobalt, nickel, and rare earth elements. The project is located within a historically productive uranium district and reflects the Company's positioning toward minerals supporting energy security and the broader digital economy.
Magusi West Gold Project, Quebec, Canada
Focused on gold within the Abitibi greenstone belt, one of the most prolific gold producing regions globally. The Company holds the option to acquire a 100 percent interest, subject to a 2 percent net smelter returns royalty, and is targeting structurally controlled mineralization within a well-established mining jurisdiction.
ON BEHALF OF THE BOARD
Matthew Markin
President & CEO
Neither the CSE nor its Market Regulator (as that term is defined in CSE policies) accepts responsibility for the adequacy or accuracy of this news release.
Not for distribution to United States newswire services or for dissemination in the United States.
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws (collectively, "forward-looking information"), including statements regarding: the results of future exploration on the Project, the timing of any future Project exploration, and the Company's financing and completion of additional exploration on the Project. Forward-looking information is based on assumptions that management believes are reasonable as of the date of this news release, including assumptions regarding commodity prices, exploration budgets, availability of financing, the timely receipt of required approvals and permits, and the performance of contractors and counterparties.
Forward-looking information is inherently subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including risks related to exploration, geological uncertainty; regulatory approvals (including CSE acceptance); commodity price volatility; capital markets conditions and access to financing; reliance on third parties; execution and closing of a formal mineral property purchase agreement; and the other risk factors described in the Company's public filings. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update forward-looking information except as required by law.
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