Mr. Charles Downie of Eagle Plains reports

EAGLE PLAINS/PARTNER ANNOUNCE 2023 FIELD PROGRAM TO COMMENCE AT THE SURPRISE AND TOODOGGONE LITHIUM PROJECTS, BC

Eagle Plains Resources Ltd. has been notified by option partner 1416753 B.C. Ltd., a subsidiary of Nevgold Corp., a British Columbia corporation, that field crews have been mobilized to Eagle Plains' 100-per-cent-owned Surprise and Toodoggone lithium projects. Under the terms of the recently approved option agreement, 141 may earn a 100-per-cent interest in the Acacia, Lost Horse, FinLith, Surprise and Toodoggone properties by completing $1-million in exploration expenditures over two years and issuing 10 million 141 shares. A 2-per-cent net smelter return royalty on certain properties has been reserved for Eagle Plains (see Eagle Plains news release dated Aug 2, 2023).

Two thousand twenty-three fieldwork will be carried out by TerraLogic Exploration Services of Cranbrook, B.C., a wholly owned subsidiary of Eagle Plains. The Surprise and Toodoggone projects are early stage and were acquired based on their prospectivity for hosting lithium-bearing pegmatites. Fieldwork on both projects will focus on locating and assessing pegmatites for lithium potential using geological mapping, mineral identification and geochemistry.

Surprise

The 4,491-hectare Surprise property is located approximately 40 kilometres east-northeast of Atlin, B.C. The property is centred on a large Cretaceous intrusion surrounded by sedimentary rocks of the Kedahda formation. The Surprise Lake intrusion is crosscut by numerous aplite dikes and coarse-grained pegmatitic zones, which are the focus of the current exploration program. Regional government silt (RGS) sample results are highly anomalous with respect to lithium, rubidium, cesium, tin, molybdenum and tungsten, with lithium values up to 118 parts per million lithium (the highest reported RGS value in British Columbia is 130 parts per million). There are two Minfile reports on the property: Weir Mountain (104N017) reports tungsten and molybdenite mineralization in quartz veins; and the Northeast or CY showings (104N074) reports mafic-rich dikes with sphalerite/galena/magnetite in quartz veins cutting alaskite.

The favourable geologic setting, namely a granitic-intrusion-enriched in critical elements (tungsten, tin and molybdenum), with demonstrated aplite-pegmatite dikes, coupled with very anomalous regional geochemical lithium results, suggest that the property is highly prospective for rare-metal-enriched pegmatites.

Toodoggone

The 7,153-hectare Toodoggone property is located approximately 285 kilometres north of Smithers, B.C., centred on a regionally mapped Cretaceous-age intrusion surrounded by sedimentary rocks of the Ingenika group. The prominent Finlay-Ingenika strike-slip fault system lies approximately four kilometres to the west. Although the Toodoggone region is known for epithermal and porphyry deposits such as found at the Lawyers and Kemess mines, little reported exploration work has been completed on the property. Several historic stream silt samples collected through RGS surveys returned highly anomalous lithium results from streams fed by drainage systems on the property. The favourable geologic setting, with a granitic intrusion near a major fault system, coupled with highly anomalous RGS geochemical lithium results, suggests that the property is highly prospective for lithium pegmatites.

Charles C. Downie, PGeo, a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects, and a director of Eagle Plains, has prepared, reviewed and approved the scientific and technical disclosure in the news release.

About Eagle Plains Resources Ltd.

Based in Cranbrook, B.C., Eagle Plains is a well-financed, prolific project generator that continues to conduct research and acquire and explore mineral projects throughout Western Canada. The company was formed in 1992 and is the ninth-oldest listed issuer on the TSX Venture Exchange (and one of only three that has not seen a rollback or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and, through numerous spinouts, has transferred over $100-million in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains' latest spinout, Eagle Royalties Ltd., was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout Western Canada.

Eagle Plains' core business is acquiring grassroots critical metal and precious metal exploration properties. The company is committed to steadily enhancing shareholder value by advancing its diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.

Expenditures from 2011 to 2022 on Eagle Plains related projects exceed $30-million, the majority of which was financed by third party partners. This exploration work resulted in approximately 45,000 metres of diamond drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

Throughout the exploration process, the company's mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

We seek Safe Harbor.