Mr. C.C. Downie reports

EAGLE PLAINS INTERSECTS MINERALIZATION IN STEP-OUT HOLES AT GEORGE LAKE CRITICAL METALS PROJECT, SASKATCHEWAN

Two of the three holes planned for Eagle Plains Resources Ltd.'s 2026 diamond drilling program have been completed at the George Lake project, northeast Saskatchewan. Both of the holes successfully intersected the George Lake Zn/Pb (zinc/lead) deposit horizon, with the deepest 2026 intersection to date approximately 208 metres vertically below the deepest historical intercept. Analytical results are pending for both holes. Preliminary interpretation of the 2026 drilling, along with historical results, indicates that mineralization remains open down dip and along strike.

The 2026 drill targeting is driven by results from geophysical and technical work, paired with advanced interpretation. The holes were located to test for down-dip extensions of the prospective sedimentary exhalative (sedex) stratigraphy, over a strike length of 385 metres. The program was conducted by TerraLogic Exploration Inc. of Cranbrook, B.C., under the direction of Kerry Bates, PGeo, exploration manager for Eagle Plains. The drill contractor was New Age Drilling Solutions.

The George Lake deposit horizon is characterized by significant critical metal mineralization over a broad strike length of approximately 8.1 kilometres. The source of this mineralization has never been established, and forms the basis for Eagle Plains' continuing exploration work.

George Lake is one of the projects included in a formal exploration agreement between Eagle Plains and the Ya'thi Nene Lands and Resource Office (YNLR), representing the Athabasca Denesuline First Nations of Hatchet Lake, Black Lake and Fond du Lac, the Northern Hamlet of Stony Rapids, and the Northern Settlements of Uranium City, Wollaston Lake and Camsell Portage. YNLR has been providing technical support for the program.

The project is also eligible for the Saskatchewan Targeted Mineral Exploration Incentive (TMEI), which may provide funding of up to $150,000 toward drilling-related program costs.

Drill-hole GL26001 was designed to undercut historic drill holes GL08-02: 55.8 metres (206.0 to 261.8 m) at 4.01 per cent Zn/0.54 per cent Pb including 8.0 m (252.8 to 260.6 m) at 6.96 per cent Zn/1.42 per cent Pb) and GL-21: 32.0 m (286.5 to 318.5 m) at 3.66 per cent Zn/0.40 per cent Pb including 10.7 m (297.2 to 307.9 m) at 5.43 per cent Zn/0.34 per cent Pb). The intersected mineralized stratigraphy has a drill length of 56 m from 480 to 536 m. The mineralization is hosted in white/grey quartzite with disseminated and stringer sphalerite, and disseminated galena, pyrrhotite and arsenopyrite. The mineralized zone, as well as the hangingwall and footwall contacts, have strong to moderate biotite and silica alteration. The mineralized horizon was intersected approximately 208 m down dip from GL-21, the closest hole on the section and one of the deepest holes historically drilled at the deposit.

Drill hole GL26002, a 200 m stepout to the southwest of GL26001, undercut historic drill holes GL08-01: 57.90 m (189.2 to 247.1 m) at 2.69 per cent Zn/0.41 per cent Pb including 6.0 m (220.1 to 226.1 m) at 5.37 per cent Zn/0.64 per cent Pb) and GL-25: 42.7 m (237.7 to 280.4 m) at 3.09 per cent Zn/0.36 per cent Pb including 10.7 m (239.3 to 250.0) at 5.38 per cent Zn /0.81 per cent Pb). The mineralized zone has a length of 49 m from 468 to 517 m, with disseminated and stringer sphalerite associated with galena, pyrrhotite and arsenopyrite. The clean white/grey quartzite host has strong pervasive silicification. The mineralized horizon was intersected approximately 171 m down dip from GL-25, the closest hole on the section and one of the deepest holes historically drilled at the deposit.

The current drill-hole, GL26003, is a 185 m stepout to the northeast of GL26001, designed to undercut historic drill holes GL08-08B and GL08-03 (40.0 m (221.5 to 261.5 m) at 1.80 per cent Zn/0.23 per cent Pb including 7.00 m (252.5 to 259.5 m) at 5.23 per cent Zn/1.00 per cent Pb).

Detailed reporting will be completed when all geochemical results have been received and interpreted.

All drill indicated intercepts as reported in this news release are measured along core length and true thickness is yet to be determined.

About the George Lake project

The fully permitted 6,868-hectare George Lake project is located 280 kilometres north of La Ronge, Sask. The project has excellent access and is located on a recently completed highway connecting Saskatchewan Highway 905 to the community of Wollaston Lake. Eagle Plains holds a 100-per-cent interest in claims comprising the property, subject to a 2-per-cent royalty held in favour of Summit Royalties Ltd., 1 per cent of which can be bought back by Eagle Plains for $1-million.

George Lake project highlights

• 4,131 m of historical drilling completed in 22 holes at the deposit, with the best drill holes returning 57.9 m grading 2.65 per cent Zn and 0.41 per cent Pb (including 13.5 m grading 4.36 per cent Zn and 0.76 per cent Pb) (DDH GL08-01) and 47.8 m grading 4.03 per cent Zn and 0.44 per cent Pb (including 8.0 m grading 6.96 per cent Zn and 01.42 per cent Pb) (DDH GL08-02) (SMAF 64E05 0033);
• George Lake deposit comes to surface and has dimensions of approximately 35 m width by 800 m length, and is open to depth and along strike;
• Potential for discovery of extensions of existing mineralization and other discrete mineralization elsewhere on the property.

The property overlies 13 Saskatchewan Mineral Deposit Index (SMDI) occurrences including the George Lake Zn deposit. Zinc and lead mineralized boulders were discovered in the George Lake area in 1965 which led Falconbridge Nickel Mines to acquire a large land position in the area, resulting in a 34-hole diamond drill program in 1969 to 1970 which defined the George Lake deposit. The deposit contains sedimentary-exhalative (sedex) style mineralization, with a higher-grade core of greater than 5 per cent Zn.

Some of the above results were taken directly from the SMDI descriptions and assessment reports (SMAF) filed with the Saskatchewan government. 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. All drill indicated intercepts as reported in this news release are measured along core length and true thickness is yet to be determined.

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 $110-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. (Canadian Securities Exchange: ER) was listed on May 24, 2023, and on Oct. 30, 2025, ER shareholders overwhelmingly approved a three-cornered amalgamation that resulted in a reverse takeover of Eagle Royalties by Summit Royalty Corp. The resulting issuer is named Summit Royalties Ltd. and trades under the symbol SUM on the TSX Venture Exchange with a market capitalization of over $100-million.

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. (OP) 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 the company's diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.

Expenditures from 2010 to 2025 on Eagle Plains-related projects exceed $41-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, 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.