Eagle Plains Sells Slocan Graphite Project to Weaver Energy

Eagle Plains Resources Ltd. has announced the sale of its 100% owned Slocan Graphite Project to Weaver Energy Corp., a private Ontario-based company. The agreement includes a payment of $150,000 in cash and a 0.5% net production royalty on the Slocan Graphite claims. An additional underlying 2% royalty remains in favor of Eagle Royalties Ltd.

Located in British Columbia, the Slocan Graphite Project covers 2,888 hectares and benefits from strong infrastructure. The area hosts the Tedesco Graphite Showing, known for high-quality, large flake graphite. Despite minimal historical exploration, a 2010 survey highlighted significant conductivity, aligning with the project's economic potential in the strategic graphite market.

The project is poised for further exploration, backed by an existing multi-year work application. However, Eagle Plains cautions that past mineral results have not been verified by a Qualified Person, thus the economic potential remains uncertain.