American Eagle Gold Corp. (AE) has significantly increased its footprint in British Columbia’s Babine copper-gold porphyry district, expanding its land holdings by approximately 470%. Through a new option agreement with Eagle Plains Resources Ltd. (EPL) and independent staking, the company has grown its total package from 1,632 hectares to 9,283 hectares. This move consolidates a major portion of the district, securing roughly 62.5% of the land formerly held by Pacific Booker Minerals around the Morrison deposit.

The core of the acquisition is the 5,303-hectare Hearne Hill South property, located within 4.5 kilometres of the company’s flagship NAK project. By integrating historical data with its own technical model developed from over 90,000 metres of drilling at NAK, American Eagle intends to identify and test new porphyry targets. The company confirmed that its planned exploration programs will proceed alongside its ongoing 55,000-metre drill campaign at NAK, which is fully funded and scheduled to continue through April 2027.

"The staged option structure allows us to direct capital where it creates the most value: into the ground. With approximately $50 million in cash, American Eagle is one of the few junior explorers positioned not only to consolidate a district-scale land package, but also to fund the exploration required to make meaningful new discoveries"

— Anthony Moreau, CEO

The option agreement provides American Eagle the right to earn up to an 80% interest in the Hearne Hill South, Jinx, and NAK NW projects over a six-year period. The financial terms are back-weighted to prioritize early exploration, requiring $600,000 in exploration spending, $100,000 in cash, and 200,000 shares through the end of 2027. The company is backed by a strong balance sheet featuring approximately $50 million in cash, supported by cornerstone investors including South32, Teck, and Eric Sprott.

Beyond the formal option, the company independently staked additional open ground in the Morrison area to further unify its district-scale platform. This expanded position allows the company to leverage existing road access and technical infrastructure shared with the NAK site. The company maintains an established Exploration Agreement with the Lake Babine Nation, which has been in place since 2022 and has been updated to reflect the current expansion of activities in the region.

"Separate from the Eagle Plains transaction, we also staked a significant portion of the ground formerly held by Pacific Booker around the Morrison deposit. These claims add strategically located, prospective ground to our consolidated district position. Our priority remains discovery, first at NAK, and now across a district-scale portfolio of targets informed by the knowledge and geological insight we have developed through four years of intensive exploration"

— Anthony Moreau, CEO

The company’s focus remains on utilizing its internal database to evaluate these new areas. Initial workflows include 3D inversion of magnetic data and soil geochemistry to elevate targets to a drill-ready state.

Read the full announcement: American Eagle Expands Its Babine Porphyry District Land Position with Hearne Hill South Option