Eagle Plains Resources Ltd. and Rex Resources Corp.

In 2020, Eagle Plains entered into an agreement with Rex Resources Corp. regarding the exploration of the Kalum Property located 35 kilometres northwest of Terrace, near the central coast of British Columbia, about 600 kilometres north of Vancouver.

Rex could earn a 60% undivided right, title and interest in the Kalum Property by making cash payments of $500,000, issuing 1,000,000 common shares, and by completing exploration expenditures of $3,000,000 over a four-year option period.

In 2003, Eagle Plains Resources staked a significant land package west of Kitsumkalum Lake, which included the area covered by the current Kalum claim group. As the original Kalum claims lapsed, many of the historic showings were restaked by Gold Fountain Resources, who surround Eagle Plains’ Kalum claims. The historic Kalum Lake, Burn, Quartz-Silver, Allard, and Misty occurrences fall within the Gold Fountain tenure, and consist of auriferous quartz veins and shears.

Since acquiring the property in 2003 Eagle Plains has completed VTEM airborne geophysics, comprehensive geological mapping, contour and grid soil geochemical sampling, silt geochemical sampling, prospecting and 23 diamond drillholes. Their work has located a number of new showings, confirming that the Kalum property is highly prospective for economically significant, Au-Ag epithermal vein-type deposits. The better gold mineralization at the Kalum is located near the margins of the main Allard pluton, both within the granodiorite and in the surrounding sedimentary country rocks.

Only a relatively small portion of the sedimentary-intrusive contact zone has been explored to date and diamond drilling has been limited to three areas. Potential exists along the unexplored contact zones, especially in areas that have a favorable geophysical signature. In areas of known mineralization, new discoveries are possible through soil geochemical sampling, prospecting and airborne geophysics.

The Kalum property consists of 4 MTO mineral claims totaling 1621.67 hectares, owned 100% by Eagle Plains Resources Ltd.