Eagle Plains and Sun Summit Finalize Option Agreement for Copper-Gold Project

Eagle Plains Resources Ltd. and Sun Summit Minerals Corp. have executed an option agreement granting Sun Summit exclusive rights to potentially acquire a 100% interest in the Theory Copper-Gold Project in north-central British Columbia. Occupying 9676 hectares, the Theory Project holds promise for epithermal gold and copper-gold porphyry deposits. It's situated near Sun Summit's JD Project and shares geological traits with neighboring ventures.

Sun Summit's option consists of two phases. First, to acquire a 75% stake, they must provide CA$255,000 in cash, issue 750,000 shares to Eagle Plains, and invest CA$3 million in exploration. A further CA$1 million payment would boost their interest to 100%. If executed, a 2% smelter royalty would benefit Eagle Plains, which they can partially repurchase.

Eagle Plains, serving as operator, anticipates starting exploration in 2025, with Sun Summit leading the application for a mineral exploration permit. Both companies expressed optimism regarding future exploration possibilities in this prolific mining area.