Eagle Plains Closes Saskatchewan Property Sale

Cranbrook-based Eagle Plains Resources Ltd. has announced the finalization of a sale agreement with Trident Resources Corp. The deal involves seven claim blocks in Saskatchewan's La Ronge Gold Belt, extending Trident's property holdings in the area.

Under the agreement, Trident acquires full ownership for $5,000, while Eagle Plains retains a 2% net smelter royalty. The transaction, categorized as Non-Arm's-Length, also involves Eagle Plains director Tim Termuende, who holds the same position at Trident.

Eagle Plains has navigated regulatory requirements by leveraging exemptions within MI 61-101, avoiding formal valuation and minority approval processes. Charles C. Downie, a "qualified person," has validated the technical details in the release.