Eagle Plains Resources Ltd. to Reorganize Royalty Assets
CRANBROOK, November 9, 2022 - The Board of Directors of Eagle Plains Resources Ltd. (TSXV:EPL) (the "Company" or "Eagle Plains") is pleased to announce the formation of a separate division within the Company in an effort to maximize shareholder value and pursue strategic opportunities. Under the proposed reorganization, specific royalty assets covering a broad spectrum of commodities will be managed by a new, wholly-owned subsidiary of Eagle Plains under the name Eagle Royalties Ltd. ("ER") The restructuring is designed to improve the identification and valuation of specific Eagle Plains' royalty interests, and to ultimately enable ER to separately market, finance and develop its various assets while maintaining the ability to acquire additional royalties.
The formation of ER will allow for the oversight, direction and management of a significant portfolio of royalty assets located in British Columbia, Yukon and Saskatchewan relating to commodities including gold, silver copper, lead, zinc, rare earth/critical elements (REE's), uranium, graphite, diamonds and industrial minerals. Eagle Plains will continue to focus on its core business model of acquiring and advancing grassroots critical- and precious-metal exploration properties. Work is underway to launch an independent website containing maps and more detailed descriptions of the various royalties under ER management.
Tim Termuende, President and CEO of Eagle Plains stated recently: "we are excited to see the formation of Eagle Royalties and look forward to its evolution. Eagle Plains has been assembling this large royalty portfolio since its formation in 1992 and over the past thirty years has secured royalty interests over a wide range of commodities located in areas of active mining and advanced development such as our flagship AurMac Royalty (gold: Banyan Gold Corp./Hecla Mining), Eskay Creek (gold-silver: Skeena Resources), Patterson Lake South (uranium-Cameco, Denison), Fort a la Corne (diamonds) and numerous other royalties located throughout western Canada. While Eagle Plains has held many of these royalty interests for years, management is of the opinion that their true value is not reflected within the diverse holdings and activities of Eagle Plains and their potential would be more readily identified as a stand-alone division."
See Eagle Plains' royalty portfolio here
See AurMac Royalty video here
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. The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three 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 recently Taiga Gold being notable examples.
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. Eagle Plains also holds significant royalty interests in western Canadian projects, covering a broad spectrum of commodities on projects controlled by Cameco Corp., Iso Energy Corp., Denison Mines Corp., Skeena Resources Ltd. and Hecla Mining Co./Banyan Gold Corp., among others. Management's focus is to advance its most promising exploration projects. 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.
Expenditures from 2011-2022 on Eagle Plains-related projects exceed $30M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 45,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at 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.
