American Marconi Wireless News - Earthwise Minerals Commences Fieldwork at the Iron Range Gold Project, British Columbia

The 21,437ha Iron Range Project is considered by management of both Eagle Plains and Earthwise to hold excellent potential for the presence of structurally controlled gold-silver mineralization, iron-oxide copper-gold ("IOCG") and Sullivan-style lead-zinc-silver sedimentary-exhalative ("sedex") mineralization. The property is owned 100% by Eagle Plains, with part of the property subject to an underlying 1.0% Net Smelter Royalty held by a third party.

The 2025 fieldwork will be carried out in two phases, with the focus on detailed follow up of historic soil geochemical and till anomalies, and geophysical targets in the Talon Zone area, prospecting and mapping along structural splays of the Iron Range Fault, and evaluation of historical mineral occurrences.

See Iron Range Project Map

The first phase of fieldwork will target the Pyromorphite Zone (BC MinFile 082FSE141). Mineralization was discovered in 2009 after construction of logging roads exposed sheared and brecciated sediments hosting cm-scale quartz veins bearing pyromorphite (lead) mineralization. No significant work has been completed at the zone since its initial discovery by the previous tenure holder. Rock (grab) sample SK10-207 reports 27.0 g/t Au, 173.0 g/t Ag, and 13.4% Pb (BC Assessment Report 31659). Rock (grab) sample MK10-170 reports 54.7 g/t Au, 42.2 g/t Ag, and 2.8% Pb (BC Assessment Report 31659). 2025 fieldwork is planned to relocate the original sample locations and conduct surficial geochemical surveys and detailed geological mapping to better understand the structural controls on veining and further assess the distribution of the reported mineralization.

Drilling at Iron Range in 2010 resulted in the discovery of the Talon Zone, where drill-hole IR10-010 intersected 2 intervals of strong and continuous mineralization including 14.0m grading 5.1g/t gold, 1.86% lead, 2.1% Zinc, 75.3g/t silver and 7.1m grading 8.13g/t gold, 2.84% lead, 3.07% zinc, 86.6g/t silver (Eagle Plains news release December 21st, 2010). Previous drilling 10km north of the Talon Zone in 2008 by Eagle Plains intersected gold mineralization in drill-hole IR08006 which assayed 7.0m grading 51.52g/t (1.50 oz/ton) gold (Eagle Plains news release dated April 20th, 2009).

Iron Range Option Agreement Details

To exercise the Option, Earthwise 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 70% interest in the Project by paying CA$250,000, issuing an aggregate of 1,500,000 common shares to EPL and funding CA$4,000,000 in exploration expenditures on the Project by over a four-year term, including $200,000 in expenditures in 2025. Pursuant to the second phase of the Option, the Company may acquire an additional 10% interest in the Project (for an 80% total interest) by notifying Eagle Plains of its intent to increase its interest to 80% and making an additional one-time payment of CDN$ 1,000,000 cash, and completing a bankable feasibility study on the Property, before the eighth anniversary of the Option.

If the First Option or the Second Option is exercised, a 2% smelter returns royalty will be granted to the Eagle Plains over the entire property, 1% of which may be repurchased for CA$1,500,000.

Eagle Plains will serve as Operator under the terms of Option and will reserve the right to use TerraLogic Exploration Inc. as geoscience consultant. Following the exercise of either Option 1 or 2, Earthwise and Eagle Plains shall then form a 70/30 or 80/20 joint venture ("JV") to further explore and develop the Property.

About the Iron Range Project https://earthwiseminerals.com/iron-range-project/

Iron Range Project Summary

The 21,437ha Iron Range Project located near Creston, BC, is owned 100% by Eagle Plains, subject to a 1% NSR held by a third party on a portion of the claim group. A well-developed transportation and power corridor transects the southern part of the property, including a high-pressure gas pipeline and a high-voltage hydro-electric line, both of which follow the CPR mainline and Highway 3. The rail line provides efficient access to the Teck smelter in Trail, B.C. The project is fully permitted with a Multi-Year Area Based (MYAB) permit in place issued by the BC Ministry of Mining and Critical Minerals that includes provisions for geophysical work, mechanical trenching, access trail construction and diamond drilling.

The Iron Range property covers an extensive area approximately 10km x 32km which overlies the regional Iron Range Fault System ("IRFS"). Prior to the acquisition by Eagle Plains in 2001, the property had seen little systematic exploration for other than iron resources known to exist on the property since the late 1800s. Since 2001, Eagle Plains and its partners have completed 21,593m of diamond-drilling in 87 holes, collected 2482 line-km of airborne and surface geophysical data and analysed 10,053 soil geochemical samples, 495 rock samples and 6955 drill core samples.

Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. Some of the above results were taken directly from MINFILE descriptions and assessment reports (ARIS) filed with the BC government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject properties. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.

Qualified Person

Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and an officer and director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.

About Earthwise Minerals

Earthwise Minerals Corp. (CSE: WISE; FSE: 966) is a Canadian junior exploration company focused on advancing the Iron Range Gold Project in southeastern British Columbia near Creston, B.C. The Company holds an option to earn up to an 80% interest in the fully permitted project, which is road-accessible and situated within a prolific mineralized corridor. The property covers a 10 km x 32 km area along the Iron Range Fault System and hosts multiple high-grade gold showings and large-scale geophysical and geochemical anomalies.

For more information, visit www.earthwiseminerals.com.

EARTHWISE MINERALS CORP.,
ON BEHALF OF THE BOARD

"Mark Luchinski"

Contact Information:

Mark Luchinski
Chief Executive Officer, Director
Telephone: (604) 506-6201
Email: [email protected]

Forward Looking Statements

This news release includes statements that constitute "forward-looking information" as defined under Canadian securities laws ("forward-looking statements") including, without limitation, statements respecting the Offering and the intended use of proceeds therefrom. Statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in its forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and actual outcomes may differ materially from those in forward-looking statements. Additional information regarding the various risks and uncertainties facing the Company are described in greater detail in the "Risk Factors" section of the Company's annual management's discussion and analysis and other continuous disclosure documents filed with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking information except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements.

For more information, please contact Mark Luchinski, Chief Executive Officer and Director, at [email protected] or (604) 506-6201

SOURCE: Earthwise Minerals Corp.

View the original press release on ACCESS Newswire

F.Bennett--AMWN