Eagle Plains and Tana Resources Enter Option Agreement for MPW Project

Eagle Plains Resources Ltd. and Tana Resources Inc. have executed an option agreement granting Tana exclusive rights to acquire up to a 75% interest in the Mount Polly West (MPW) copper-gold project in British Columbia. The 7,407 ha project lies near Williams Lake, adjacent to Imperial Metals' Mount Polley Property.

The agreement involves cash payments, issuance of shares, and exploration funding. In two phases, Tana can secure up to 75% interest. Initial investments include CA$250,000, two million shares, and CA$3 million exploration funding over four years. The property shows potential for copper-gold porphyry and epithermal mineralization, with historical trenching revealing significant copper findings.

Eagle Plains will operate the project, reserving rights to use TerraLogic Exploration as their consultant. A joint venture will form post-option exercise for further exploration and development.