Mr. Chuck Downie reports

EAGLE PLAINS ADDS ADDITIONAL DISPOSITIONS AT THE PINE CHANNEL AU PROJECT, NORTHERN SASKATCHEWAN

Eagle Plains Resources Ltd. has acquired, through the MARS online tenure system, additional mineral dispositions contiguous with its 100-per-cent-owned Pine Channel property, located approximately 40 kilometres west of Stoney Rapids, Sask. The three dispositions total 996.3 hectares, increasing the Pine Channel project area to a total of 6,059 ha, and cover a Saskatchewan Mineral Deposit Index (SMDI) occurrence.

The Pine Channel property is subject to a 2-per-cent NSR (net smelter return) held by Summit Royalties, which includes a 1-per-cent buyback clause to Eagle Plains.

SMDI 2329 drill holes G-1 to G-3 are located 2.98 km north of the ELA showing (SMDI 2329). These BQ holes were drilled to test a narrow set of quartz veins over 100 m of strike hosted within sheared biotite-feldsparquartz gneiss. The quartz-carbonate veins are mineralized with pyrite, pyrrhotite and minor sphalerite. Hole G-1 assayed 1.03 grams per tonne Au from 42.0 to 45 metres including 1.66 g/t Au from 43 to 44.0 m, 3.20 g/t Au from 51.5 to 52.5 m and 1.00 g/t from 59.0 to 59.6 m. Hole G-3 assayed 0.32 g/t Au from 32.8 to 33.8 m and 0.30 g/t Au from 34.2 to 35.5 m.

The most recent work at Pine Channel was a six-day field program completed in 2025. Fieldwork followed up on encouraging results from 2020, with refined targeting provided by the compilation and interpretation of airborne magnetic and lidar (light detection and ranging) results obtained in 2022 and 2024. Two thousand twenty-five analytical results from rock sampling ranged from trace values to a highest value of 427 g/t Au (grab sample), with 11 samples returning over three g/t Au, including four samples over 34 g/t Au. The highest-grade mineralization from the 2025 program was concentrated at the Pit and ELA occurrences, where sampling returned gold grades (up to 427 g/t Au) with consistently anomalous silver (up to 111 g/t Ag), and associated pathfinder elements arsenic and antimony.

Sampling of targets identified through lineament analyses in the areas of known mineralization confirmed the potential for additional gold-bearing structures. The program was managed by TerraLogic Exploration Inc. of Cranbrook, B.C.

Comprehensive data interpretation and analyses is under way to define and prioritize targets for diamond drill testing.

The Pine Channel property consists of 30 mineral dispositions covering 6,059 hectares located approximately 40 km west of Stony Rapids, Sask., which is the logistics/business hub for Northern Saskatchewan. The property can be accessed year-round by float- or ski-equipped aircraft from Stony Rapids or Fort McMurray, Alta. The eastern and northern part of the property is transected by a high-voltage powerline. Most geological fieldwork is limited to late May to October but other operations such as geophysical surveys and diamond drilling can be completed year-round.

Pine Channel property highlights

Highlights from documented historical work and previously reported results include:

• Algold Bay: 63.5 g/t Au over 0.6 m (drill hole) (SMDI 1575);
• North Norite Bay: 407.96 g/t Au over 0.5 m (drill hole) (SMDI 2183);
• ELA: 39.96 g/t Au over 0.55 m (drill hole) (SMDI 1574);
• Holes G-1 and G-3: 3.20 g/t Au over one m (drill hole) (SMDI 2329);
• Occurrence No. 6/Occurrence No. 8: 90.6 g/t Au over 0.2 m (trench sample) (SMDI 1581);
• Cole Lake Ni-Cu: 0.45 per cent Ni over 7.0 m (drill hole), 6.2 g/t Au, 0.01 per cent Ni and 0.06 per cent Cu over 3.0 m (trench sample) (SMDI 1583);
• Multiple untested geophysical anomalies and mineralized trends associated with favourable geology.

The main deposit type that is being explored for at Pine Channel is structurally controlled vein-quartz (lode) gold deposits. Mineral occurrences on the Pine Channel property contain predominantly gold, with rare base metal occurrences. Within the Pine Channel tenures there are 20 documented historical showings.

Government mapping in the Pine Channel area dates from 1913, with the first industry work reported in 1950. A total of 51 assessment reports have been filed within the current Pine Channel tenure area. Past operators include Golden Rule Resources Ltd. and Colchis Resources Ltd. who were both active on the project during the 1980s, the last sustained period of exploration in the area. The most recent work prior to Eagle Plains acquiring the claims in 2018 was in 2013 when the area was flown with an airborne variable time-domain electromagnetic (VTEM) survey focused on locating targets for diamond exploration. There has been a total of 6,066 metres of diamond drilling in 115 historic holes completed within the current Pine Channel property claim boundaries, with the majority of the holes completed less than 100 metres in length. Although the wide-spaced drilling did intersect significant gold mineralization in places, much of the drilling was completed using thin diameter core which is considered ineffective for assessing the high-grade nuggety gold shears and veins found at Pine Channel.

Since acquiring the property, Eagle Plains has completed field programs focused on prospecting and mapping in areas of known mineral occurrences. The work confirms the widespread occurrences of auriferous quartz veins and associated shear systems in the Pine Channel property. Analytical results from the 72 rock samples collected in 2020 range from six parts per billion Au to 68,400 ppb Au (68.4 g/t Au). Twenty-three of the samples returned greater than one g/t Au and eight returned greater than 10 g/t Au. The most encouraging of the known showings are the ELA shaft showing (SMDI 1574) and Occurrence No. 6 and No. 8 (SMDI 1581), which both demonstrate anomalous gold geochemical results and potential for extension of known mineralization along strike.

Two thousand twenty-two and 2024 work included a helicopter-borne high-resolution aeromagnetic and radiometric survey and a high-resolution lidar and orthophoto survey. Lineation analyses of the lidar imaging, combined with the aeromagnetic data, defined a number of new target areas adjacent to and along strike from known mineralization, which will be priority targets for future exploration.

Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. Some of the above results were taken directly from the SMDI descriptions and assessment reports (SMAD) 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. Eagle Plains' 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-V (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 $115-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.