Vancouver, British Columbia--(Newsfile Corp. - January 28, 2025) - EagleOne Metals Corporation (CSE: EAGL) ("EagleOne" or the "Company") is pleased to report the completion of its Phase 1 exploration program on the Magusi West Gold Project it holds in southern Hebecourt Township, Quebec (the "Project"). The Project is situated within the Abitibi Greenstone Belt, one of the world's most richly endowed gold producing regions with over 200 million ounces of gold produced to date. The Project is well-located within the district with past and present operating gold mines to the west, as well as numerous past and present copper and gold mines to the east. The Company feels this strategic location represents an exciting and untapped opportunity.
The Phase I program on the Project consisted of detailed ground geophysics comprised of magnetometer, very low frequency electromagnetic (VLF-EM) and induced polarization (IP) surveys. This work was followed by soil sampling, outcrop stripping, and channel sampling, plus geological mapping and whole-rock sampling of selected exposed outcrops to detect lithogeochemical indicators for potential gold and base metal (copper, zinc) mineralization.
The Company's consulting geologists are in the process of closely reviewing and compiling results from the soil sampling and geophysical surveys and will interpret how they are represented in the known geology of the Project. These results are being added to the previously data to further enhance this compilation work. A review of the geophysical surveys is also ongoing.
Option Agreement Amendment
The Company further announces that it has entered into an amending agreement with the optionor of the Magusi West Project to allow the company further time to review the results of the recently completed program and consider the most efficient manner in which to pursue further exploration on the claim group. In lieu of the original agreement terms that required a $50,000 cash payment and the issuance of 200,000 common shares of the Company on December 31, 2024, the Company is now required to make cash payments of $6,000 and issue 5,000 shares in order to keep the option agreement in good standing through June 15, 2025.
Qualified Person
Allan MacTavish, MSc. P.Geo., a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content of this news release.
About EagleOne Metals Corp.
EagleOne is a Canadian-based precious and base metal explorer that holds the option to acquire a 100% interest, subject to a 2% net smelter returns royalty, in 11 claims comprising the Magusi West Gold Project, which is located in Abitibi greenstone belt of Quebec - one of the world's most productive and highest ranked gold mining jurisdictions. The Company seeks to unlock shareholder value through the diligent exploration of carefully selected exploration projects in some of Canada's most prolific exploration and mining areas. EagleOne is committed to all stakeholders including shareholders, all its partners and the environment in which it operates.
For further information, please contact:
Matthew Markin
CEO & Director
T: 778-900-1620
E: mmarkin@eagleonemetals.com
This news release includes certain statements that may be deemed "forward-looking statements", including statements respecting the services to be provided by EagleOne. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward looking statements. Although EagleOne believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because EagleOne can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in Roberto's disclosure documents which can be found under EagleOne's profile on www.sedarplus.ca.
Neither the Canadian Securities Exchange ("CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238647
SOURCE: EagleOne Metals Corporation
