** Hearne Hill South Royalty

Eagle Plains Resources Ltd. (TSX-V:EPL) (OTCQB: EGPLF) and American Eagle Gold Corp. (TSXV:AE) (OTCQB:AMEGF) entered into an option agreement dated July 24, 2026.

To exercise the Option, American Eagle must make a series of cash payments and share issuances to Eagle Plains and fund exploration expenditures on the Project. These payments, share issuance and expenditures are separated into two phases, with the First Option entitling the Company to acquire a 60% interest in the Project by paying CA$400,000, issuing an aggregate of 1,200,000 common shares to EPL and funding CA$4,850,000 in exploration expenditures on the Project over a six-year term. Pursuant to the Second phase of the Option, the Company may acquire an additional 20% interest in the Project (for an 80% total interest) by notifying Eagle Plains of its intent to increase its interest to 80% and making an additional one-time payment of CA$1,000,000 cash, of which half may be paid in American Eagle shares valued at the 10-day VWAP at the time of notification. As part of the option agreement, American Eagle will reimburse Eagle Plains for the 2026 field program at Hearne Hill South.

If the First Option or the Second Option is exercised, a 2% smelter returns royalty will be granted to Eagle Plains over the entire property, 1% of which may be repurchased for CA$2,500,000. Following the exercise of the First or Second Option by the Company, Eagle Plains and American Eagle will form a joint venture which will administer the continued exploration and operation of the Project. American Eagle will serve as Operator during the term of the Agreement and TerraLogic Exploration Inc. will serve as geoscience consultant for all pre-drilling exploration.