Eagle Plains and Earthwise Sign Option Agreement for Iron Range Project

Eagle Plains Resources Ltd. and Earthwise Minerals Corp. have announced an option agreement granting Earthwise the right to acquire up to an 80% interest in the Iron Range gold project in British Columbia. This agreement follows previous announcements made by both companies.

The Iron Range project, covering 21,437 hectares, shows potential for gold-silver (IOCG) and lead-zinc-silver sedex mineralization. Drilling in 2010 discovered significant gold mineralization at the Talon Zone.

Earthwise can gain a 70% interest by paying CA$250,000, issuing 1.5 million shares, and investing CA$4 million in exploration over four years. An additional 10% interest can be acquired by making a CDN$1 million payment and completing a bankable feasibility study.

A joint venture is planned post-option exercise, with Eagle Plains as the operator.