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VANCOUVER, BC / ACCESS Newswire / January 5, 2026 / Earthwise Minerals Corp. (CSE:WISE,OTC:HWKRF)(FSE:966) ("Earthwise" or the "Company") is pleased to announce that it has received a six-month extension of the option agreement on the Iron Range Project, located approximately 16 km northeast of Creston in southeastern British Columbia. In consideration for the option extension, Earthwise will issue 100,000 common shares to the Optionor, Eagle Plains Resources Ltd. (TSX-V:EPL) ("EPL" or "Eagle Plains"). As a result of the extension, the Company's first-year commitment under the option is now due on August 26th, 2026.
Terms of the Option Agreement
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 issuances 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$4,000,000 in exploration expenditures on the Project by over a four-year term. Pursuant to the Second Option (if elected by Earthwise), the Company may acquire an additional 10% interest in the Project (for an 80% total interest) by notifying Eagle Plains of its intent to increase its interest to 80%, making an additional one-time payment of CA$ 1,000,000 cash and completing a bankable feasibility study on the Property prior to the eighth anniversary of the Option.
If either the First Option or the Second Option is exercised, a 2% smelter returns royalty will be granted to 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 the Option and will reserve the right to use TerraLogic Exploration Inc. as geoscience consultant. Following the exercise of either the First Option or the Second Option, 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/
Geological Overview
The Iron Range Project is located on the western flank of the Proterozoic Purcell Anticlinorium and is underlain by Aldridge Formation metasedimentary rocks within a district-scale hydrothermal system. The Property is influenced by major structural corridors associated with iron-oxide brecciation, shear-hosted gold, and polymetallic mineralization. Within this framework, the Talon Zone is interpreted as a multiphase, structurally focused breccia/vein system hosting Ag-Au-Pb-Zn-Cu mineralization within silica-K-feldspar-carbonate altered rocks.
Regional Geological Comparison
Iron Range shares strong geological similarities with the Sullivan Mine, located approximately 70 km northeast. These include the presence of Aldridge Formation stratigraphy, "Sullivan-time" laminated horizons, vent-proximal fragmental rocks, and a Pb-Zn-Ag ± Au ± Cu metal suite. While the Talon Zone represents a structurally focused polymetallic system rather than classic stratiform SEDEX mineralization, the metal association and structural setting are consistent with large-scale hydrothermal systems active within the Purcell Basin.
Infrastructure
The project benefits from excellent infrastructure, including:
Canadian Pacific Railway mainline crossing the Property
Highway 3 access directly through the claim block
High-voltage transmission line and high-pressure natural gas pipeline on-site
Extensive Forest Service Road network
Approximately 133 km by road from Teck's Trail smelter
These advantages support efficient field operations, cost-effective drill deployment, and enhanced future development potential.
Historical Work Summary
Exploration at Iron Range began in 1897 with the discovery of iron-oxide showings. Cominco's mid-20th century work included trenching and shallow drilling, followed by SEDEX-focused mapping, soil geochemistry, and UTEM surveys in the 1980s. Junior explorers in the 1990s recognized SEDEX-style fragmental units and IOCG-style alteration.
Eagle Plains acquired the Property in 1999 and has since completed extensive airborne geophysical surveys (VTEM, ZTEM, and gravity), structural mapping, large soil geochemical programs, and multi-phase drilling that led to the discovery of high-grade gold at O-Ray, the Talon polymetallic system, and Sullivan-style mineralization at Car and IR05-03. Subsequent work (2013-2017) refined priority targets and established Induced Polarization (IP) anomalies at Talon that remain untested at depth.
Earthwise 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.
Granting of Incentive Stock Options
Earthwise announces that its Board of Directors has approved the granting of 1,075,000 incentive stock options (the "Options") to senior executives, directors and consultants of the Company. The Options grant the holder the right to purchase common shares in the capital of the Company (each, a "Common Share") at a deemed price of $0.05 per Common Share. The Options vest immediately and expire on January 6th, 2031.
Change in Management
Earthwise Minerals announces the resignation of Mr. George Yordanov as VP of Exploration and a director of the Company, effective immediately. Earthwise wishes to thank Mr. Yordanov for his contributions to the Company.
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,OTC:HWKRF; 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.
ON BEHALF OF THE BOARD
"Mark Luchinski"
Contact Information:
Mark Luchinski
Chief Executive Officer, Director
Telephone: (604) 506-6201
Email: luch@luchccorp.com
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 luch@luchccorp.com or (604) 506-6201.
SOURCE: Earthwise Minerals Corp.
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