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Earthwise Minerals Enters Intent Agreement with Eagle Plains for Iron Range Project

Earthwise Minerals Corp. has signed a non-binding letter of intent with Eagle Plains Resources Ltd. to negotiate the acquisition of up to an 80% interest in the Iron Range Gold Project in British Columbia. The project holds potential for various types of mineralization, including gold-silver and copper-gold. Drilling in 2010 and 2008 showed significant gold and silver findings, sparking interest in further exploration.

The terms of the agreement aim to see Earthwise gain a 70% stake by 2029, requiring CDN $4 million in exploration spending, CDN $250,000 in cash, and 1.5 million common shares issuance. An additional 10% stake can be acquired with further payment upon completing a feasibility study. Eagle Plains will retain an operator role and a 2% NSR.

The formal agreement is expected within 45 days, subject to regulatory approvals. Earthwise has also granted options to executives, allowing purchase of company shares at $0.05 each, expiring in 2030. Finalizing the transaction remains uncertain, with details to follow upon agreement.

R. P.

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