Interview with Charles C. Downie, President & CEO of Eagle Plains Resources
Our previous interview: https://www.cruxinvestor.com/posts/eagle-plains-resources-tsxvepl-five-revenue-streams-29-projects-advancing-in-2026-9412
Recording date: 22nd October 2026
Eagle Plains Resources (TSXV:EPL) is a project generator based in Cranbrook, British Columbia, with more than 30 years of listing history and no share consolidations. Its model is to stake or acquire projects, complete early work with its own cash and then option projects to partners who fund drilling. Under a typical deal, the partner earns 80% and Eagle Plains keeps 20%, plus a royalty.
What separates Eagle Plains from many project generators is recurring revenue. TerraLogic Exploration, its wholly owned geological contractor, works for third parties and on Eagle Plains projects. President and CEO Chuck Downie said TerraLogic typically returns $1 million to $2 million a year to the parent, and that first-half 2026 revenue was around $12.5 million against about $3.6 million a year earlier. Eagle Plains holds about $7.5 million in cash, just over $4 million in securities and about $2.2 million in hard assets, which Downie said allows it to go years without a financing.
The largest active programme is at Black Bay Project in Uranium City, northern Saskatchewan. Six projects covering five past-producing mines and about 50 mineral occurrences are optioned to Xcite Uranium (TSXV:XRI). Downie put total commitments at just over $19 million in exploration, $330,000 in cash and roughly 2.5 million Xcite shares. About $6 million was spent in 2026, and about $12 million would be needed next year to complete the earn-in. Three projects have been drilled. At Don Lake, downhole probes returned strong radiometric results from all three zones tested, but assays are pending. Eagle Plains operates the programme, earns a management fee and keeps a 20% interest carried to a bankable feasibility study.
George Lake, a 100%-owned zinc deposit in Saskatchewan, carries a historical resource of about 7 million tonnes at around 4% zinc. Three holes drilled in 2026 extended mineralisation up to 260 metres down dip. Only about 400 metres of a projected 20-kilometre horizon has been tested. Downie said the route to a partner is to show the deposit can reach 60 million to 80 million tonnes at a similar grade.
Earlier-stage copper-gold exposure comes from Theory, optioned to Sun Summit Minerals (TSXV:SMN), and the adjacent Orbit joint venture in the Toodoggone district, both with assays pending. At Iron Range, partner Earthwise Minerals drilled three holes and identified an upper mineralised horizon that aligns with geochemical and IP anomalies. American Eagle Gold has optioned Hearne Hill South near its NAK project.
Spin-outs remain an important source of shareholder value. Taiga Gold was sold to SSR Mining for cash and Eagle Royalties was acquired through a transaction with Summit Royalties. Eagle Plains states that spin-outs have delivered more than $115 million in value to shareholders.
View Eagle Plains Resources' company profile: https://www.cruxinvestor.com/companies/eagle-plains-resources-ltd
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