Mr. C.C. Downie reports

EAGLE PLAINS' PARTNER SUN SUMMIT MINERALS APPROVES 2025 EXPLORATION PLAN FOR THE THEORY PROJECT, TOODOGGONE DISTRICT, BC

Eagle Plains Resources Ltd.'s partner Sun Summit Minerals Corp. has approved the 2025 exploration plan at Eagle Plains' Theory copper-gold project, Toodoggone mining district, north-central British Columbia. The property is owned 100 per cent by Eagle Plains, with 122 hectares of the property subject to an underlying 0.5-per-cent 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 kilometres to the northwest of Sun Summit's JD project. Sun Summit signed an option agreement with Eagle Plains to earn an up-to-100-per-cent interest in approximately 10,000 hectares of mineral claims 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, continuing 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. The work will be completed by TerraLogic Exploration and is anticipated to begin in late August and continue into September.

The 9,676-hectare Theory project is located in Northern British Columbia 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, B.C. Recent road upgrades completed in 2023 by Thesis Gold on its Lawyers-Ranch project brought road access to within eight kilometres of the Theory project.

Geology in the Theory region is primarily composed 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 (approximately 200 million years), termed by the B.C. 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-1960s, 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 grams per tonne gold, 195 g/t silver and 6.2 per cent copper at the DM occurrence (B.C. 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 (B.C. Minfile 094E 402). The BEV occurrences (B.C. Minfile 094E 259), interpreted as a copper-gold porphyry target, returned select historical rock results up to 0.47 per cent Cu, 10.5 g/t Ag and 0.13 g/t Au. Detailed soils revealed a 1.6-by-two-kilometre copper-in-soil anomaly with peak soil results to 920 parts per million Cu. Very little work is documented in the southern and eastern parts of the property.

Recent exploration success in the area has been highlighted by Thesis Gold's announcement at its Lawyers-Ranch project of a combined measured and indicated mineral resource of 4.0 million ounces and an inferred mineral resource of 727,000 oz at respective grades of 1.51 and 1.82 g/t gold equivalent (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, Jan. 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 continuing 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, PGeo, a director and officer of Eagle Plains, hereby identified as the qualified person under National Instrument 43-101.

About Eagle Plains Resources Ltd.

Based in Cranbrook, B.C., Eagle Plains is a well-financed, 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 Venture Exchange (and the only one of these four 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. On July 2, 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 of ER. Eagle Royalties shareholders will receive a consideration of 18 cents per ER share, representing a premium of 47 per cent 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 Oct. 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. 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 its diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.

Expenditures from 2010 to 2024 on Eagle Plains-related projects exceed $39-million, the majority of which was financed by third party partners. This exploration work resulted in approximately 50,000 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, its 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.