Xcite Resources Commences Airborne Geophysical Surveys at Uranium City Area Projects, Saskatchewan

Executive Summary

• Xcite Resources Inc., together with partner Eagle Plains Resources Ltd., has commenced a helicopter‑borne VTEM Plus airborne geophysical survey over six Uranium City projects (Beaver River, Black Bay, Don Lake, Gulch, Lorado and Smitty).
• The survey will cover 697 line‑km, including infill lines on historically surveyed areas and new coverage, to delineate electromagnetic conductors, graphite‑rich pelites, and uranium‑related geochemistry.
• The projects lie in the historic Beaverlodge Uranium District, which previously produced ~70 million lbs U₃O₈; the company highlights strong structural, alteration and pathfinder element signatures suggesting potential for economic uranium mineralization.

Key Details

• Survey Contractor: Geotech Airborne Geophysical Surveys (VTEM Plus system).
• Scope: 697 line‑km of helicopter‑borne electromagnetic surveying split among the six projects.
• Objectives:
• Identify and map EM conductors linked to graphite‑rich pelites within major faults.
• Detect anomalous uranium geochemistry and radioactivity associated with graphitic fault zones.
• Provide data for hydrothermal alteration mapping and pathfinder element anomalies.
• Project Highlights:
• Outcropping NE‑SW trending tectonic fabric across all claims.
• Confirmed EM conductors interpreted as graphite‑rich pelites near major faults.
• Historical uranium endowment in both basement rocks and Athabasca basin cover rocks.
• Geological Context:
• Beaverlodge‑style deposits are structurally controlled, high‑grade vein/breccia fills in basement rock, often hosted at contacts with hematite, chlorite, graphite and pitchblende mineralization.
• Qualified Person: C.C. Downie, P.Geo., director/officer of Eagle Plains (NI 43‑101).
• Management Comment: CEO Jean‑François Meilleur emphasizes the survey’s role in advancing the company’s high‑grade uranium discovery thesis within a dormant but historically prolific district.

Notable Quotes

“The airborne geophysical program will provide critical, high‑resolution data to test our geological model and advance the Company toward a high‑grade uranium discovery in a historic producing camp.” – Jean‑François Meilleur, CEO & Director, Xcite Resources Inc.