Eagle Plains concludes sales agreements for four uranium regions in Saskatchewan and the Athabasca Basin region


CRANBROOK, BC / ACCESSWIRE / November 4, 2021 / Eagle Plains Resources Ltd. (TSXV: EPL) (“EPL” or “Eagle Plains”) entered into four separate agreements with unrelated third parties for the sale by Eagle Plains of a 100% interest (subject to retained NSR interests, if any) in four separate groups of claims located in Athabasca. Saskatchewan Basin region as shown below. In each case, the receivables were not considered by the management of EPL to be basic assets. Eagle Plains continues to hold a number of significant uranium deposits in the region.

View Eagle Plains Resource’s Saskatchewan uranium holdings here

Highlights of the transaction:

  • Cable bay area: Uranium Energy Corp. – 9 disposals, 4,067 ha.
    Consideration: 64,149 ordinary shares of UEC.

  • Lazy Edward Bay area: ALX Resources Corp. – 9 disposals, 2,410 ha.
    Consideration: 600,000 common shares of ALX, 2% NSR * at Eagle Plains.

  • Southern Pine Channel Area: Pegasus Resources Inc.-1 disposition, 211 ha.
    Consideration: 500,000 PEGA common shares, 2% NSR * to Eagle Plains.

  • Bell Lake / Kernaghan Lake area: IsoEnergy Inc.- 2 provisions, 904 ha
    Consideration: C $ 25,000 in cash, 2% NSR * to Eagle Plains.
    * subject to a 1% buyback on payment of CA $ 1,000,000 to EPL

Tim Termuende, P.Geo., President and CEO of Eagle Plains recently commented on the transactions: “We are pleased to have completed recent sales of specific uranium provisions in various areas of the Athabasca Basin in Saskatchewan. Since many of the claims were not individually significant to Eagle Plains, in most cases they were strategically located and were important “pieces of the puzzle” for buyers who already owned contiguous claim sets. By closing the deals while retaining significant royalty interest in most cases and receiving shares of partner companies currently valued at around C $ 460,000, Eagle Plains has essentially mitigated any risks inherent in exploring the projects, but maintains considerable upside exposure.

About Eagle Plains Resources

Headquartered in Cranbrook, British Columbia, Eagle Plains continues to research, acquire and explore mining projects throughout Western Canada. The Company is committed to steadily increasing shareholder value by advancing our diverse portfolio of projects towards discovery through collaborative partnerships and the development of a highly experienced technical team. Eagle Plains also has significant royalty interests in Western Canadian projects covering a wide variety of commodities. Management is focused on advancing its most promising exploration projects. Additionally, Eagle Plains continues to seek out and secure high quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the exploration process, our mission is to help maintain thriving communities by exploring and uncovering resource opportunities while building lasting relationships through honest and respectful business practices.

2011-2020 spending on Eagle Plains-related projects exceeds $ 22 million, the majority of which was funded by third-party partners. This exploration work resulted in approximately 37,000 m of diamond drilling and extensive ground exploration work facilitating the advancement of many projects at various stages of development.

On behalf of the board of directors

“Tim J. Termuende”
President and CEO

For more information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: [email protected] or visit our website at http://www.eagleplains.com

Caution Regarding Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements, including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of title deeds, potential processes for mineral recovery, etc. Forward-looking statements deal with future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in these statements.

THE SOURCE: Eagle Plains Resources Ltd.

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