Mr. Tim Termuende reports

EAGLE ROYALTIES ANNOUNCES SIGNIFICANT INCREASE IN LAND POSITION AT MOUNT POLLEY WEST COPPER - GOLD PROJECT

Eagle Royalties Ltd. has been notified by Eagle Plains Resources Ltd. (EPL) of additional tenure acquisition at EPL's 100-per-cent-owned Mount Polley West project (MPW) located in central British Columbia. Eagle Royalties holds a 2-per-cent net smelter (NSR) royalty on certain claims at MPW and the new claims have added approximately 75 per cent (3,870 hectares) of additional area which are subject to the Eagle Royalties royalty.

See a Mount Polley West tenure map at the company's website.

About Mount Polley West

The MPW project is located 52 kilometres northeast of Williams Lake, B.C., within the prolific Central Quesnel belt adjacent to/nearby a number of current, past-producing and development-stage mines, including:

• Imperial Metals' Mount Polley Cu-Au (copper-gold) porphyry (eight km east of MPW) -- current producer;
• Taseko Mines' Cu-Mo (copper-molybdenum) porphyry (30 km west of MPW) -- current producer;
• Osisko Development's QR Au porphyry/skarn (3.5 km north of MPW) -- past producer/milling facility;
• Osisko Development's Cariboo gold project (51 km north of MPW) -- development.

There are also a number of active gold placer mining operations established on drainages in the MPW property area.

Eagle Royalties' management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the MPW property.

Property geology and history

The property is underlain by Nicola Group sedimentary and volcanic rocks. The MPW tenures cover 10 British Columbia minfile occurrences consisting of copper-bearing minerals hosted in basaltic and volcanic rocks.

In response to the discovery of the Mount Polley deposit in 1964, exploration work increased in the region as other copper porphyry deposits were sought out. In the mid-1960s, a host of companies conducted a series of geophysical surveys and soil sampling programs. After a period of relative quiescence, exploration work increased in intensity in the early 1980s. A number of operators completing soil sampling programs, rock sampling campaigns and geophysical surveying into the 1990s. During this period, several copper occurrences were discovered on the MPW property. Exploration in the 2000s and 2010s has been comparatively more subdued with mainly smaller soil sampling and geological mapping programs. There has been limited shallow drill testing completed within the current MPW project area.

Work by Eagle Plains

After acquiring the core MPW claims, Eagle Plains Resources completed geological mapping, and soil and rock geochemical sampling on the property. Work in 2022 confirmed copper mineralization, interpreted to be indicative of a deeper porphyry copper source. Work in 2023 consisted of wide-spaced till sampling, with results pending.

About Eagle Royalties Ltd.

Eagle Royalties was previously a wholly owned subsidiary of Eagle Plains Resources Ltd., incorporated in late 2022 to manage the diverse royalty holdings of Eagle Plains. In May, 2023, Eagle Royalties was spun out to Eagle Plains' shareholders on a 1:3 basis by means of a plan of arrangement. Concurrent with the spinout transaction, Eagle Royalties amalgamated with 1386884 B.C. Ltd., which effectively provided Eagle Royalties with $2.7-million in initial financing. Eagle Royalties was listed for trading on the Canadian Securities Exchange on May 19, 2023.

Eagle Royalties benefits from having over 50 royalty interests in Western Canada, covering a broad spectrum of commodities, including critical metals, precious metals, uranium, industrial minerals and diamonds. Projects subject to royalties in favour of Eagle Royalties are controlled by companies including Cameco Corp., IsoEnergy Corp., Denison Mines Corp., Skeena Resources Ltd. and Hecla Mining Co./Banyan Gold Corp., among many others.

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