Eagle Plains Acquires Historic Elizabeth Lake Critical Metals Deposit

Eagle Plains Resources Ltd. has announced its acquisition of the Elizabeth Lake Cu-Ag VMS deposit located 21 km north of La Ronge, Saskatchewan. The acquired block of claims encompasses 1266 ha, entirely owned by Eagle Plains without any underlying royalties or encumbrances. This site, known for its structurally complex geology and significant mineralization, has been explored through 36 diamond drill holes totalling over 10,000 meters.

The property's mineralization is described in two main lenses, the North and South Zones, showing potential for depth expansion. Historical exploration conducted since the copper mineralization discovery in 1968 includes numerous drilling programs by entities such as Noranda Explorations and Canadian Nickel Co. Ltd, with varied assay results highlighting the deposit's copper and silver content.

Eagle Plains aims to consolidate and advance the understanding of the Elizabeth Lake deposit through detailed compilation and interpretation of historical data. Despite the historical estimates of mineral resources, the company underscores that these figures do not comply with current definitions as per National Instrument 43-101 and are considered as a basis for further exploratory work.

In addition to the Elizabeth Lake project, Eagle Plains also disclosed updates on the sale of the Lone Pine Project to Quartz Mountain Resources Ltd. and the termination of an option agreement with Canter Resources Corp. for the Puzzle Lake property. This announcement underlines Eagle Plains' sustained effort to develop its portfolio of critical and precious metal exploration projects across western Canada.