CRANBROOK, BC / ACCESS Newswire / July 10, 2025 / Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") and the Ya'thi Néné Lands and Resource Office ("YNLR"), representing the Athabasca Denesuliné 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, are pleased to announce that they have recently added the George Lake Project to the Exploration Agreement (the "Agreement") between EPL and YNLR. (see NR November 26, 2024)
The Agreement supports mineral exploration in Nuhenéné, the traditional territory of the Athabasca First Nations in Treaty 8 and Treaty 10 Territories, and recognizes Eagle Plains' commitment to building a mutually beneficial relationship with the Athabasca communities. Guided by YNLR's vision for economic growth, environmental stewardship, and cultural preservation, the Agreement promotes employment, training opportunities, and respect for local practices, aligning with Eagle Plains' dedication to responsible exploration practices.
The Agreement enables active participation from Basin Communities through opportunities for employment and training, contracting with northern businesses, contributions to YNLR's community trust, and harvester compensation. Regular communication between Eagle Plains and YNLR will directly inform exploration permitting, environmental monitoring and program implementation, with YNLR's Community Land Technicians providing on-site oversight and assessment of exploration activities.
Eagle Plains has been active in the Saskatchewan mineral exploration since 2006, currently holding a 100% interest in 48 individual projects comprising a total of approximately 110,797 ha of mineral dispositions covering uranium, base and critical metal and gold targets. Eagle Plains also holds a 25% interest in the 12,951 ha Olson Gold Project. The projects range from early-stage grassroots to drill-ready.
About the George Lake Project
The fully permitted George Lake project is located 280km north of La Ronge, Saskatchewan. The project has excellent access and is located on an all-weather spur road along Saskatchewan Highway 905. Eagle Plains holds a 100% interest in claims comprising the property, subject to a 2% royalty held in favour of Eagle Royalties Ltd.
See George Lake Property Information and Map here
George Lake Project Highlights
10,050m of drilling completed in 90 holes, with the best drill holes returning 57.9m grading 3.42% Zn (including 9.1m grading 7.1% Zn) and 47.8m grading 4.5% Zn and 0.61% Pb (including 8.0m grading 7.0% Zn and 1.4 % Pb); (SMAF 64E05-0033)
George Lake Deposit dimensions are approximately 35m thick x 150m in width x 800m in length, open to depth and along strike;
Potential for discovery of extensions of existing mineralization and other discrete mineralization elsewhere on the property.
George Lake Geophysics Summary
The George Lake property was covered by the 2022 eastern Wollaston Domain electromagnetic and magnetic high resolution geophysical survey, flown by the Government of Saskatchewan. The 200m line spaced survey was carried out by Geotech Canada Inc. utilizing Geotech's VTEM Max Time-Domain Electromagnetic (TDEM) system. Results from the survey indicate a strong southwest-northeast trending EM conductor that crosses the entire property. The conductor is coincident with the George Lake deposit mineralization and has been only partially drill tested. The survey also located weaker parallel conductor trends north and south of the main conductor, with the northern conductor coincident with the Spence Lake mineralized zone.
In 2024, Eagle Plains contracted EarthEx Geophysical Solutions to undertake detailed interpretation of the VTEM survey data to assess the electromagnetic and magnetic response of the George Lake deposit, and identify new exploration targets. EarthEx successfully identified 17 target zones, three of which (TZ3, TZ10, and TZ15) have been prioritized for follow-up investigation. A magnetic inversion component was included as part of the modelling portion of the program, which revealed that the contact that hosts the George Lake deposit is near vertical and continuous to depth, providing valuable information for drill targeting.
George Lake Exploration Target
The results from the 2024 geophysical modeling, and the results from historical drilling 1, including the continuous nature of the mineralization, the reported grades of the mineralization, shallow drilling depths and examination of historical drill core indicate the potential to expand the size of the known George Lake Deposit, with a conceptual Exploration Target containing 2MT to 5MT with grades of 3-5% Zn and 0.5-1.5% Pb.
1 SMAF 64E05-0031, 64E05-0026, 64E-0018
The potential quantity and grade of the George Lake mineralization is conceptual in nature, and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the target being delineated as a mineral resource.
The property overlies 8 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 1969-70 which defined the George Lake deposit. The deposit contains sedimentary-exhalative ("sedex") style mineralization, with a higher-grade core of >5% 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 ongoing work on the subject properties.
Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, 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 roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout, Eagle Royalties Ltd. (CSE:"ER") was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada. On July 02, 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 (RTO) of ER. Eagle Royalties shareholders will receive a consideration of $0.18 per ER share, representing a premium of 47% 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 October 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 our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.
Expenditures from 2010-2023 on Eagle Plains-related projects exceed $39M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors of Eagle Plains
"C.C. (Chuck) Downie, P.Geo"
President and CEO
For further information, please contact:
Mike Labach
Corporate Development
Eagle Plains Resources Ltd.
1-866-HUNT ORE (486-8673)
mgl@eagleplains.com
https://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/eagle-plains-and-ya%e2%80%99thi-n%c3%a9n%c3%a9-lands-and-resources-add-george-lake-project-to-explo-1047421
