Business
Earthwise Minerals Extends Option at The Iron Range Gold Project, British Columbia
VANCOUVER, BC / ACCESS Newswire / January 5, 2026 / Earthwise Minerals Corp. (CSE:WISE)(FSE:...
About this update from Eagle Plains Resources Ltd.
[{"type":"text","content":"Earthwise Minerals Extends Option at The Iron Range Gold Project, British ColumbiaVANCOUVER, BC / ACCESS Newswire / January 5, 2026 / Earthwise Minerals Corp. (CSE:WISE)(FSE:966) (\"Earthwise\" or the \"Company\") is pleased to announce that it has received a six-month extension of the option agreement on the Iron Range Project, located approximately 16 km northeast of Creston in southeastern British Columbia. In consideration for the option extension, Earthwise will issue 100,000 common shares to the Optionor, Eagle Plains Resources Ltd. (TSX-V:EPL) (\"EPL\" or \"Eagle Plains\"). As a result of the extension, the Company's first-year commitment under the option is now due on August 26th, 2026.Terms of the Option AgreementTo exercise the Option, Earthwise must make a series of cash payments and share issuances to Eagle Plains and fund exploration expenditures on the Project. These payments, share issuances and expenditures are separated into two phases, with the First Option entitling the Company to acquire a 70% interest in the Project by paying CA$250,000, issuing an aggregate of 1,500,000 common shares to EPL and funding CA$4,000,000 in exploration expenditures on the Project by over a four-year term. Pursuant to the Second Option (if elected by Earthwise), the Company may acquire an additional 10% interest in the Project (for an 80% total interest) by notifying Eagle Plains of its intent to increase its interest to 80%, making an additional one-time payment of CA$ 1,000,000 cash and completing a bankable feasibility study on the Property prior to the eighth anniversary of the Option.If either the First Option or the Second Option is exercised, a 2% smelter returns royalty will be granted to Eagle Plains over the entire Property, 1% of which may be repurchased for CA$1,500,000.Eagle Plains will serve as Operator under the terms of the Option and will reserve the right to use TerraLogic Exploration Inc. as geoscience consultant. Following the exercise of either the First Option or the Second Option, Earthwise and Eagle Plains shall then form a 70/30 or 80/20 joint venture (\"JV\") to further explore and develop the Property.About the Iron Range Project https://earthwiseminerals.com/iron-range-project/Geological OverviewThe Iron Range Project is located on the western flank of the Proterozoic Purcell Anticlinorium and is underl...