CRANBROOK, BC / ACCESS Newswire / July 14, 2026 / Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains" or "the Company") and Pacific Bay Minerals Corp. (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.