Eagle Plains' Partner Sun Summit Minerals Commences Fieldwork at the Theory Project, Toodoggone District, BC

CRANBROOK, BC / ACCESS Newswire / July 23, 2026 / Eagle Plains Resources Ltd. (TSX-V:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") is pleased to announce that partner Sun Summit Minerals Corp. (TSX-V:SMN)(OTCQB:SMREF) ( "Sun Summit" ) has mobilized exploration crews to commence the second phase of 2026 fieldwork at Eagle Plains' Theory copper-gold project (the " Theory Project "), north-central British Columbia. The property is owned 100% by Eagle Plains, with 122 hectares of the property subject to an underlying 0.5% Net Smelter Royalty held by a third party.

The Theory Project borders Thesis Gold's Ranch Project to the north and is located within 10 km to the northwest of Sun Summit's JD Project. Sun Summit signed an option agreement with Eagle Plains to earn up to a 100% interest in the project, located in the highly prospective Toodoggone Mining District. (see press release dated March 17, 2025 )

Theory Project 2026 Exploration Program

The 2026 work program will build on the success from the 2025 field season, the first significant fieldwork on the property in over 30 years. (see press release dated January 21, 2026 )

The three phase 2026 fieldwork will include an Airborne MT geophysical survey (complete), a 28-day field program (underway) including prospecting, geological mapping, and geochemical sampling, and Induced Polarization (IP) geophysics on select targets.

A total of 476 line-kilometers of airborne magnetotelluric ("MobileMT") surveying was completed in June at a nominal line spacing of 250 meters. The data will image subsurface resistivity and help locate causative intrusions and possible conduits for mineralization. The Mobile MT survey was completed by Expert Geophysics Surveys Inc. of Newmarket, ON, under the guidance of geophysicist, Andrei Bagrianski, P.Geo. Final deliverables are anticipated to be received in the near term and will help to guide the second and third phases of fieldwork.

Phase 2 fieldwork will include mapping/prospecting and rock, soil, silt geochemical sampling with crews based out of temporary, helicopter supported, camps. Work will focus on the detailed evaluation of targets identified by 2025 fieldwork, assessment of areas of interest generated by the MobileMT survey, and ongoing target generation and assessment in underexplored areas of the property.

Phase 3 will include up to 22-line km of IP surveys over high priority target areas, including the Bev and Saboteur Zones.

The results from the 2026 work program will be analysed and modelled to identify and prioritize targets for 2027 drill testing. The proposed work program has a budget of approximately $700,000.

Fieldwork will be managed by TerraLogic Exploration Inc. with helicopter and logistical support from the Sun Summit's JD Camp as required. The field work has commenced and is expected to continue into September. Eagle Plains is the project operator.

Highlights from 2025 Field Program

2025 work included:

Data Compilation with rectification and analysis of historical surface sampling and reconnaissance mapping.

Remote Sensing Acquisition of district-and property-scale datasets, focusing on VNIR and SWIR bands to identify mineral groups diagnostic of epithermal and porphyry alteration.

Field Program consisting of prospecting, detailed geological mapping, and systematic rock, soil, and silt geochemical sampling on targets identified through data analyses.

Saboteur Zone: New high grade copper discovery

3km length zone of copper mineralization associated with coincident magnetic high transition zone and strong radiometric potassic alteration anomaly

15 of the rock samples collected returned over 1% Cu

Grab sample LSTHR040: 4.78% copper, 0.635 g/t gold, 49 g/t silver ;

BEV Zone:

Broad copper soil and silt geochemical anomaly associated with multiphase alteration

Grab sample BLTHR029: 1.44% copper, 0.043 g/t gold, 12.8g/t silver ;

Fred-DM-DMR Zone :

1.6 km x 3km zone of copper mineralization associated with barite veining

Grab sample BLTHR051: 6.42% copper, 0.088 g/t gold, 99 g/t silver ;

Grab sample JBTHR008: 0.65% copper, 12.6 g/t gold, 3150 g/t silver ;

Petrographic analyses of 2025 samples identified strong epidote-chlorite-carbonate alteration directly with hypogene copper mineralization (chalcopyrite - bornite - chalcocite). This type of mineralization and alteration assemblage is interpreted to represent the inner shell of a porphyry system, which may indicate a proximal source for some of the Theory mineralization.

See Theory Project Information and Map here

The 9676ha Theory Project is located in northern BC within the Toodoggone Mining District. The district is endowed with both epithermal gold and porphyry copper-gold deposits, most notably the past producing Kemess Mine owned by Centerra Gold. The Omineca Resource Road provides access to the region from Mackenzie, BC. Recent road upgrades completed in 2023 by Thesis Gold on their Lawyers-Ranch Project brought road access to within 8 kms of the Theory Project.

Geology in the Theory region is primarily comprised of lower Jurassic Hazelton Group volcanics which unconformably overlie late Triassic Takla Group volcanics. The entire package of rocks is intruded by late Triassic and early Jurassic stocks. The majority of the Theory property encompasses the highly prospective Jurassic-Triassic unconformity (~200 Ma), termed by the BC Geologic Survey as the ‘Red-Line', which is known to have a high spatial correlation to many of the known deposits throughout the Golden Triangle and Toodoggone.

Exploration by previous operators has been intermittent since the mid-1960's and regional government surveys are sparse, however encouraging mineralization and alteration commonly associated with both epithermal and porphyry systems has been documented. The most significant documented work was completed in 1988 in the north and west areas of the Theory project area. Work consisted primarily of alpine ridge and subalpine prospecting traverses as well as reconnaissance soil sample lines in areas where no outcrop was present. This work documented occurrences of low-sulphidation epithermal-related mineralization including quartz-barite veins with up to 8.2 g/t Au, 195 g/t Ag, and 6.2% Cu at the DM occurrence (BC Minfile 094E 231)*; and a quartz carbonate vein system with up to 6.8 g/t Au and 1,480 g/t Ag at the Fred-1 occurrence (BC Minfile 094E 402)*. The BEV occurrences (BC Minfile 094E 259)*, interpreted as a Cu-Au porphyry target, returned select historical rock results up to 0.47% Cu, 10.5 g/t Ag, and 0.13 g/t Au . Detailed soils revealed a 1.6 by 2 kilometre copper-in-soil anomaly with peak soil results to 920 ppm Cu . Very little work is documented in the south and eastern parts of the property.

Recent exploration success in the area has been highlighted by Thesis Gold's announcement at their Lawyers-Ranch Project of a combined Measured and Indicated Mineral Resource of 4.564 Moz grading 1.21 g/t AuEq and Inferred Resources of 643 koz grading 1.23 g/t AuEq (Lawyers - Ranch Project NI 43 - 101 Technical Report and Pre - feasibility Study British Columbia, Canada Effective Date: December 1, 2025) and by Amarc Resources' new high-grade copper-gold-silver discovery at the AuRORA zone of the Joy Project (Amarc Resources, January 17, 2025 News Release).

In late 2023 Eagle Plains acquired the property through staking and third-party agreements. After undertaking initial compilation and interpretation of historical data on the project, Eagle Plains completed a property wide, high resolution airborne magnetic and radiometric survey in July 2024, followed by fieldwork in 2025.

Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject properties. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.

Warrant Extension

Eagle Plains has made application to the TSX Venture Exchange for approval and acceptance to amend the term of 2,220,750 outstanding common share purchase warrants which were issued in connection with a non-brokered private placement completed in August, 2023, (see EPL news release dated August 3rd, 2023 ). The warrants have a current expiry date of August 2nd, 2026.

The share purchase warrants are subject to an accelerated expiry at the option of the Company if the published closing trade price of the common shares on the TSX Venture Exchange is greater than or equal to $.50 for any 20 consecutive trading days, in which event the holder may be given notice that the warrants will expire 30 days following the date of such notice. The common share purchase warrants may be exercised by the holder during the 30-day period between the notice and the expiration of the common share purchase warrants.

Eagle Plains has applied to extend the expiry date for an additional 12 months to a revised date of August 2nd, 2027. The exercise price and acceleration clause of the warrants will remain unchanged, at 30 cents per warrant.

Qualified Person

Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified as the "Qualified Person" under N.I. 43-101.

About Eagle Plains Resources

Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.

The Company was formed in 1992 and is the fourth-oldest listed issuer on the TSX-V (and the only one of these four that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $115,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout, Eagle Royalties Ltd. (CSE:"ER") was listed on May 24, 2023, and on October 30, 2025, ER shareholders overwhelmingly approved a three-cornered amalgamation that resulted in a reverse takeover of Eagle Royalties by Summit Royalty Corp. The resulting issuer is named Summit Royalties Ltd. and trades under the symbol SUM on the TSX Venture Exchange with a market capitalization of over $100M.

On October 2, 2024, Eagle Plains announced the formation of a separate division within the Company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. ("OP") will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on Western Canada.

Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.

Expenditures from 2010-2025 on Eagle Plains-related projects exceed $41M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

On behalf of the Board of Directors of Eagle Plains

"C.C. (Chuck) Downie, P.Geo" President and CEO

For further information on EPL, please contact Andrew Wilson at 1 866 HUNT ORE (486 8673)

Email: abw@eagleplains.com or visit our website at https://www.eagleplains.com

Cautionary Note 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 news 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 property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE: Eagle Plains Resources Ltd.

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