Eagle Plains Appoints Reynolds to Board of Directors, Issues, Re-prices Incentive Options
Cranbrook, B.C., July 4th, 2019: Eagle Plains Resources Ltd. (TSX-V: “EPL”, the “Company”) is pleased to announce the appointment of Paul Reynolds, P.Geo. to the Board of Directors, effective immediately (subject to regulatory and shareholder approvals). Mr. Reynolds will serve as an independent director to the Company and brings a broad compliment of geological skills and public company experience related to the mineral exploration and oil and gas industries.
Paul is a professional geoscientist with over 32 years’ experience working on exploration and mining projects in Canada, USA, Bolivia, Argentina and Guyana. He specializes in the conception and management of mineral exploration ventures. He has 20 years’ experience managing public companies as both a director and/or executive officer. Paul was formerly Chairman of Athlone Energy Ltd., which was sold to Daylight Energy Ltd. in September, 2008. He is currently a director and executive officer of Triumph Gold Corp. (TSX-V) and director of Azincourt Energy Inc. (TSX-V), Cairo Resources Inc. (TSX-V), Fremont Gold Corp. (TSX-V) and TerraX Minerals Inc. (TSX-V). Paul holds a B.Sc. degree in geology from the University of British Columbia (1987) and is a member of Engineers and Geoscientists British Columbia since 1992.
Tim Termuende, P.Geo. President and CEO of Eagle Plains stated recently: “on behalf of the Board of Directors of Eagle Plains, I would like to welcome Paul to our team. I have personally known Paul for some 35 years and have been continually impressed with his skills and accomplishments in the resource industry. I am confident Paul will make a significant impact with respect to the strength and depth of our Board and look forward to working with him as we move forward”
Options Issuance, Re-pricing
Eagle Plains has granted 800,000 incentive stock options to directors, officers, employees and key consultants of the company at an exercise price of $0.15 per share, expiring July, 2024. In addition, the Company has re-priced to $0.15, 3,515,000 options from exercise prices ranging from $0.20-$0.30 and currently expiring from March 13, 2022 to February 19th, 2023 (subject to shareholder ratification and regulatory approval).
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. 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. Managements’ current focus is to preserve its treasury while advancing its most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Since 2012, Eagle Plains has added to its portfolio a number of new projects exceeding 130,000 ha targeting mainly gold, uranium and base-metals in Saskatchewan, a highly-prospective mining jurisdiction which was recently recognized by the Fraser Institute as the second best place in the world in terms of Investment Attractiveness. 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.
Expenditures from 2011-2018 on Eagle Plains-related projects exceed $20M, most of which was funded by third-party partners. This exploration work resulted in approximately 30,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
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.