Xcite Define Geophysical Trends at Beaver River Uranium Project, SK

Executive Summary

• Xcite Uranium Inc. announced initial geophysical results from a 2025 VTEM Plus airborne survey at its 4,502 ha Beaver River Uranium Project in Saskatchewan, revealing strong correlations between anomalous conductivity/magnetic trends and known mineralization zones.
• Advanced geophysical interpretation is nearing completion and will directly guide summer fieldwork and target drill hole placement for Q3/Q4 2026.
• Historical data highlights high-grade uranium occurrences, including trench assays up to 29.89% U3O8 and historical drill intersections, supporting the project's potential for polymetallic Beaverlodge-type mineralization.

Key Details

• Geophysical Survey: 2025 VTEM Plus airborne survey conducted by Geotech Airborne Geophysical Surveys; data merged with previously public VTEM datasets.
• Project Size & Location: 4,502.4 hectares, located 40km SE of Uranium City, Saskatchewan; property expanded by over 3,000 hectares since survey completion.
• Geophysical Findings: Strong correlations between anomalous conductivity (Figure 1) and known mineralization at VIC and COMBINED zones. Tilt derivative of magnetic data shows strong trends near mineralization, indicating a potentially favorable structural environment (Figure 2).
• Future Exploration Plans: Advanced interpretation by Condor Consulting Inc. nearing completion; will prioritize summer fieldwork and target drill holes in Q3/Q4 2026.
• VIC Zone Characteristics: >1 km mineralized trend along a NW-SE trending fault zone traced for ~1 km. Mineralization occurs in fracture-filling quartz veins hosting sulphides, graphite, pitchblende, and uraninite. Tested by 9 shallow drill holes (avg. 80m length). Northwest portion identified as a priority by Denison Mines remains untested.
• Combined Zone Characteristics: NE-trending pitchblende-bearing fractures mapped over a 137.2m strike length.
• Historical Trench Assays: Up to 29.89% U3O8 in trench chip samples; 18.09% U3O8 over 0.2m; 3.09% U3O8 over 0.6m.
• Historical Drill Intersections: 0.18% U3O8 over 0.3m; 0.06% U3O8 over 0.61m.
• Historical Drilling Summary: Total of 1,708m of diamond drilling in 26 shallow holes, with the last drilling completed in 1969 by Trans-Canada Resources.
• Past Geophysics: 2016 VTEM survey by Geotech for Fission 3.0 outlined enhanced conductivity areas, parallel conductors with offsets/termination points indicative of cross structures, and a high-priority conductive trend west of the Combined SMDI occurrence.
• Exploration Agreement: Uranium City projects are part of a formal agreement between Eagle Plains and the Ya'thi Néné Lands and Resource Office (YNLR), representing the Athabasca Denesułiné First Nations and several Northern Hamlets/Settlements.
• Qualified Person: Charles C. Downie, P.Geo., director of Eagle Plains, reviewed and approved the scientific and technical disclosure.
• Cautionary Notes: Historical results were collected by past operators and have not been verified by a Qualified Person; past results are not indicative of future results.

Notable Quotes

• "Xcite's management is encouraged by the tenor of mineralization displayed in trenches and shallow historical drilling at Beaver River and the potential for additional uranium mineralization both along strike and to depth within known mineralized areas, along trends identified by historical geophysical surveys, and on any additional targets generated by 2024 work." - Xcite Uranium Management