Eagle Plains and Pacific Bay Minerals Execute Option Agreement for Haskins Critical Minerals Project, British Columbia
July 14, 2026 / Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains" or "the Company") and Pacific Bay Minerals Ltd. (TSXV:PBM) ("Pacific Bay" or "PBM") are pleased to announce that further to their respective news releases dated April 27, 2026 the parties have entered into an option agreement (the "Agreement") dated July 7, 2026, pursuant to which Pacific Bay has been granted the exclusive right to acquire up to a 100% interest in the Eagle Plains' wholly-owned Haskins critical metals project ("the Project").
The 578 ha road accessible Haskins project is located 105km NE of Dease Lake, BC, contiguous with PBM's Haskins-Reed property to the north. The Haskins is considered to be highly prospective for carbonate replacement, multi element skarn type, molybdenum-tungsten stock work porphyry and structurally controlled silver-lead-zinc vein mineralization.
Chuck Downie, President and CEO of Eagle Plains, recently commented: "The recent focus on critical metals development in British Columbia by both the federal and provincial governments underscores the opportunity to develop the Haskins project. The 1850 ha footprint of the combined projects makes this an excellent opportunity for Eagle Plains to participate in additional critical metals discoveries."
Under the terms of the Agreement, Pacific Bay may acquire a 100% interest in the Haskins Project by completing the following over a four-year period:
Within 14 days of receipt by PBM of the approval of TSX Venture Exchange to the terms of the Agreement, pay EPL 200,000 common shares of PBM.
On or before the 1st Year anniversary of the Agreement, pay EPL an additional 300,000 common shares of PBM.
On or before the 2nd anniversary of the Agreement:
Pay EPL an additional 750,000 common shares of PBM
PBM to have completed at least $150,000 in exploration work on the Property, with expenditures during the first year of the Agreement capped at $50,000
On or before the 3rd anniversary of the Agreement:
Pay EPL an additional 1,000,000 common shares of PBM
PBM to have completed an additional $250,000 in exploration work on the Property
On or before the 4th anniversary of the Agreement:
Pay EPL an additional 2,000,000 common shares of PBM
PBM to have completed an additional $500,000 in work on the Property
The Haskins claims are subject to a 2% Net Smelter Returns Royalty (NSR) payable by Eagle Plains to a third party, 1% of which may be repurchased by Eagle Plains for $1,000,000. In the event that Eagle Plains exercises the right to repurchase the 1% NSR, Pacific Bay will have the right to purchase that 1% from Eagle Plains for $2,000,000, leaving a residual 1% NSR on the Haskins property in favour of the third party. Alternatively, Eagle Plains would agree at any time to assign the 1% repurchase right to Pacific Bay for $1,000,000.
During the term of the Agreement:
Pacific Bay agrees to retain the services of Terralogic Exploration Inc. to complete the work on the Haskins property;
Any additional claims acquired by either party within 1 km of the existing claim boundaries will be included in the Agreement;
The terms and conditions of the Agreement are subject to the laws of the Province of British Columbia, Canada, and subject to regulatory approval.
About the Haskins Property
View the Haskins Property Map
The Haskins claims adjoin PBM's Haskins-Reed property to the north.
Project Highlights
Host to the Fort Reliance and Joem deposits
Excellent geology highly prospective for carbonate replacement, skarn, porphyry, and vein mineralization
Road accessible
Contact metamorphism of the Kechika siltstones and the Atan Group limestone and quartzites by the intrusion of the granitic Major Hart Pluton caused skarn alteration, as well as the presence of Mo-W stockwork mineralization at lithological contacts and Ag-Pb-Zn bearing veins controlled by cross-cutting fault structures
Geology
The Mount Haskins property lies within the northern extension of the Omineca lithotectonic domain, underlain by the sedimentary Cassiar Platform of the Cariboo/Cassiar terrane, which has been intruded by Eocene granitic stocks. Regional structural trends of folding and faulting are dominantly NW.
Mineralization
There are four deposit types in the Mount Haskins area: carbonate replacement, skarn, porphyry, and vein.
About the Haskins-Reed Project
The Haskins-Reed Property has been explored in several phases by different companies since the late 1940s, including approximately 198 drill holes. The 100% owned land package, which includes 6 "Crown Grant" claims, is host to multiple mineral prospects.
B Zone (Minfile 104P 038): Skarn-hosted semi-massive to massive sulphide lenses, with silver- and gold-bearing pyrrhotite-sphalerite-chalcopyrite-galena mineralization, are hosted by metasomatized carbonate rocks. Mineralization occurs as three lenses with an aggregate strike length of 308 metres, an average true width of 8 metres, and an average dip of -40° with strong vertical continuity.
Mount Reed molybdenum-tungsten prospect (Minfile 104P 043): Molybdenum and tungsten mineralization is hosted by peripheral contact metamorphic exoskarn developed in carbonate-rich metasedimentary rocks of the Atan Group. These rocks surround a small Eocene-age porphyritic granitic stock, with additional porphyry-style mineralization found within the intrusion itself. Historical drilling returned values of 2.01% WO3 over 3.3 metres, 0.37% WO3 over 5.18 metres and 0.17% WO3 over 54.8 metres.
Joe Reed vein prospect (Minfile 104P 021): Silver-rich sphalerite-galena-pyrite shear-hosted vein mineralization occurs within a persistent northerly-trending fault zone that cuts through Lower Cambrian Atan Group quartzite, limestone, and dolomite. A steep, westerly-dipping quartz vein averaging 1.5 metres wide can be traced along strike for 170 metres.
Brett Zone (Minfile 104P 136): Skarn-hosted massive sulphide zone with silver- and gold-bearing pyrrhotite-sphalerite-chalcopyrite-galena mineralization is hosted by metasomatized metasedimentary rocks immediately northwest of the Mount Reed stock.
Dako and Cobra zones (Minfile 104P 139, 058): Disseminated to locally massive pyrrhotite-rich base metal garnet skarn mineralization is hosted at a limestone-argillite contact within metasedimentary rocks altered to calc-silicate hornfels and skarns. Mineralization consists of pyrrhotite, sphalerite, and minor galena and chalcopyrite. The local geology is very similar to the Brett Zone.
Meteor Zone (Minfile 104P 137): This polymetallic gold-silver-lead-zinc skarn-hosted prospect was discovered during the 2010 trenching program while evaluating coincident soil geochemical and aeromagnetic anomalies in the northcentral portion of the Property. It has been traced over 555 metres of strike length, with widths ranging from 4 to 16 metres, and remains open along strike and down-dip. 2010 excavator trenching returned intervals such as 24.70 metres grading 0.292 g/t Au, 57.11 g/t Ag, 1.21% Pb, and 3.67% Zn (Trench #4), with a nearby grab sample returning 0.680 g/t Au, 176 g/t Ag, 0.75% Pb, and 12.30% Zn. 2011 drilling intersected 17.5 metres grading 88.35 g/t Ag, 1.11% Pb, and 3.39% Zn.
Since acquiring an option on the Haskins-Reed Property in 2008, Pacific Bay has carried out substantial additional exploration including drilling campaigns in 2011 and 2018, a full-property airborne geophysical survey, trenching, geochemical surveys, mapping, and a digital compilation of most of the project's historic maps, drill logs, and other exploration data.
Some of the above results were taken directly from MINFILE descriptions and assessment reports (ARIS) filed with the BC 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.
Qualified Person
Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified as the "Qualified Person" under N.I. 43-101.
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.