EagleOne Enters into Letter of Intent to Acquire Poison Springs Uranium/Rare Earths Project

12:00 Uhr  |  Newsfile

Vancouver, February 26, 2026 - EagleOne Metals Corp. (CSE: EAGL) (FSE: IJ2) ("EagleOne" or the "Company") is pleased to announce that it has entered into a binding Letter of Intent (the "LOI") whereby it will acquire a 100% interest 10 mineral claims comprising 206.6 acres known as the Poison Springs Uranium/Rare Earths Project (the "Property" or the "Project") located 35 miles south of Hanksville, Utah.

Pursuant to the letter of intent, EagleOne will pay the vendors US$50,000 to acquire a 100% interest in the Project upon the execution of a definitive mineral property purchase agreement.

The Letter of Intent in subject to a number of conditions, including the entry of a formal agreement with standard representations and warranties, as well as Canadian Securities Exchange acceptance for filing.

A limited drill program was conducted on the Property in early 2008 and resulted in several mineralized intercepts. The ore zones identified to date also host copper, silver, cobalt, nickel, neodymium, prasneodymium, and europium. The area contains a number of historic artisan mine workings along outcrops. The area is fairly remote and rugged and would be considered one of the last frontiers for the region.

Hatch Canyon is located 10 miles to the east of the Project where Cotter Corporation drilled a large number of holes and intersected widespread mineralization in the area in 1978 and 1979. Drilling also occur in nearby Happy Canyon, Sams Box Canyon, and Twin Corral canyon.

Additionally, drilling conducted in 2008 found numerous mineralized intercepts in the area and proposed additional drill targets are located at less than 100 metre depths. These include a Triassic Chinle target with potential copper, vanadium, zinc, nickel, cobalt and REE. Chinle deposits in the southeastern Utah region are responsible for the largest production and grade on a mine versus mine basis when compared to salt wash deposits with the largest Chinle mine producing over 68 million pounds of uranium alone.

Disclaimer

Readers are cautioned that the discussion about adjacent or similar properties is not necessarily indicative of the mineralization or potential of the Poison Springs Uranium/Rare Earths Project. The Company has no interest in or right to acquire any interest in any such adjacent properties.

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.

ON BEHALF OF THE BOARD
Matthew Markin
President & CEO

Neither the CSE nor its Market Regulator (as that term is defined in CSE policies) accepts responsibility for the adequacy or accuracy of this news release.

FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws (collectively, "forward-looking information"), including statements regarding: the results of future exploration on the Project, the timing of any future Project exploration, and the Company's financing and completion of additional exploration on the Project. Forward-looking information is based on assumptions that management believes are reasonable as of the date of this news release, including assumptions regarding commodity prices, exploration budgets, availability of financing, the timely receipt of required approvals and permits, and the performance of contractors and counterparties.

Forward-looking information is inherently subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including risks related to exploration, geological uncertainty; regulatory approvals (including CSE acceptance); commodity price volatility; capital markets conditions and access to financing; reliance on third parties; execution and closing of a formal mineral property purchase agreement; and the other risk factors described in the Company's public filings. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update forward-looking information except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285434