Eagle Plains Enters Conditional Agreement for Saskatchewan Claims and Retains Royalty
Eagle Plains Resources has entered into an agreement with Apogee Minerals covering five claim blocks in Saskatchewan, while separately ending its Brownell Lake project option agreement with Pacific Imperial Mines.
Eagle Plains Resources Ltd. has entered into an agreement with Apogee Minerals Ltd. covering five non-core claim blocks in east-central Saskatchewan. The proposed transaction involves cash, Apogee shares and a retained net smelter royalty, but it has not yet closed and remains subject to regulatory acceptance and other conditions.
The properties comprise 1965 hectares located adjacent to and within Apogee’s Knife Lake Copper Project. Under the agreement dated October 19, 2026, Apogee is to acquire a 100% interest in the claims for $20,000 and 1,000,000 common shares of Apogee.
Eagle Plains is to retain a 2.5% Net Smelter royalty covering all of the claims. Apogee may purchase 1% of that royalty for $2,000,000.
The claims are reported to be in good standing with the Province of Saskatchewan. They are to be transferred free and clear of encumbrances other than the NSR Royalty and customary permitted encumbrances.
Closing of the transaction remains subject to receipt of acceptance from the TSXV and satisfaction of customary closing conditions. These include the transfer of the Eagle Plains Claims to the company through the Mineral Administration Registry Saskatchewan (MARS) system.
Eagle Plains announced the agreement on October 20, 2026.
Separately, Eagle Plains and Pacific Imperial Mines Inc. have mutually agreed to terminate their Option Agreement covering Eagle Plains’ Brownell Lake VMS project. The termination is effective immediately.
The Brownell Lake project contains regionally deformed meta-volcanic rocks considered prospective for volcanogenic massive sulphide mineralisation. Historical work identified a 2,600m EM/magnetic anomaly associated with the VMS horizon, along with an additional 1,700 m magnetic anomaly that has not been tested by electromagnetics and diamond drilling.
Historical select drilling results reported for the project include 3.35 m of 0.48% Cu, 2.28% Zn, 1.46 g/t Au; 2.2 m of 6% Zn; and 20.5 m of 0.49% Cu. Eagle Plains said the results are historical and have not been confirmed by the company, although they are considered reliable and are intended to provide a basis for ongoing work.
After acquiring the core tenures in 2018, Eagle Plains carried out data compilation and a surface programme involving soil sampling, geological mapping, prospecting, a ground-based magnetic-VLF survey and whole-rock lithogeochemical sampling. Further geological mapping and soil sampling took place in 2021 along the projected eastern extension of the mineralised horizon.
Eagle Plains, based in Cranbrook, B.C., acquires and explores grassroots critical- and precious-metal properties across western Canada. Its wholly owned subsidiary, Osprey Power Inc., focuses on identifying and advancing clean energy project portfolios in Canada, initially in Western Canada.
Charles C. Downie, P.Geo., an officer and director of Eagle Plains and a qualified person under National Instrument 43-101, reviewed and approved the scientific and technical disclosure in the announcement.
Eagle Plains Resources Ltd. announced that it had entered into a purchase and sale agreement with Apogee Minerals Ltd. covering five non-core claim blocks in east-central Saskatchewan. The claims total 1965 hectares and are adjacent to and within Apogee’s Knife Lake Copper Project, but closing remains subject to stated conditions.
Eagle Plains announced the agreement on October 20, 2026. The agreement itself is dated October 19, 2026.
Under the agreement, Apogee Minerals will provide a cash consideration of $20,000 and 1,000,000 common shares of Apogee. The transaction covers a 100% interest in the properties.
Eagle Plains will retain a 2.5% Net Smelter royalty on all of the claims. Apogee may purchase 1% of that royalty for $2,000,000.
No, closing remains subject to acceptance from the TSXV and the satisfaction of customary closing conditions. These include the transfer of the Eagle Plains Claims to the Company through the Mineral Administration Registry Saskatchewan system.
The Eagle Plains Claims are in good standing with the Province of Saskatchewan. They are being acquired free and clear of encumbrances other than the NSR Royalty and customary permitted encumbrances.
Eagle Plains and Pacific Imperial Mines Inc. mutually agreed to terminate the Option Agreement covering Eagle Plains’ Brownell Lake VMS project, effective immediately.
The Brownell Lake Project hosts regionally deformed meta-volcanic rocks considered prospective for volcanogenic massive sulphide mineralisation. Eagle Plains said historical work identified a 2,600m EM/magnetic anomaly coincident with the VMS horizon, plus an additional 1,700 m of prospective magnetic anomaly that remains untested by electromagnetics and diamond drilling.
Historical select drilling results include 3.35 m of 0.48% Cu, 2.28% Zn, 1.46 g/t Au; 2.2 m of 6% Zn; and 20.5 m of 0.49% Cu. Eagle Plains said these results are historical, have not been confirmed by the company, and are considered reliable for forming a basis for ongoing work.
After acquiring the core tenures in 2018, Eagle Plains completed data compilation and a 2018 surface work programme involving soil sampling, geological mapping, prospecting, a ground-based magnetic-VLF geophysical survey, and whole-rock lithogeochemical sampling. Additional geological mapping and soil sampling was completed in 2021 along the projected eastern extension of the mineralised horizon.
Eagle Plains acquires grassroots critical- and precious-metal exploration properties and conducts research and exploration throughout western Canada. The company also said its wholly owned subsidiary, Osprey Power Inc., focuses on identifying and advancing clean energy project portfolios in target markets throughout Canada, initially focusing on Western Canada.
Eagle Plains Resources Ltd. is listed on the TSX Venture Exchange under TSX-V:EPL and on the OTCQB under OTCQB:EGPLF.
Charles C. Downie, P.Geo., reviewed and approved the scientific and technical disclosure in the news release. The company identifies him as a qualified person under National Instrument 43-101 and as an officer and director of Eagle Plains.