Eagle Plains and Earthwise Minerals Sign Letter of Intent for Iron Range Project

Eagle Plains Resources Ltd. has entered a non-binding letter of intent with Earthwise Minerals Corp. This agreement aims for Earthwise to acquire up to an 80% interest in Eagle Plains' Iron Range Gold project in British Columbia. The two companies will negotiate a definitive option agreement detailing this potential acquisition.

The Iron Range Project revealed promising findings in previous drills, notably the Talon Zone in 2010 with significant gold, lead, zinc, and silver mineralization. The project spans 21,437 hectares and benefits from efficient transport and power infrastructure, making it attractive for development.

Under the letter of intent, Earthwise may obtain a 70% interest by investing CDN $4 million in exploration over four years, along with cash and stock commitments. An additional 10% interest is possible upon further investment and feasibility study completion. Eagle Plains remains a key player, retaining rights and a stake in the project.