Xcite Uranium to issue 900,000 shares to Eagle Plains

Executive Summary

• Xcite Uranium Inc. has entered into six individual option agreements with Eagle Plains Resources Ltd. to earn up to an 80% interest in six uranium projects located in the Athabasca Basin, Northern Saskatchewan.
• The transaction involves the issuance of 900,000 common shares to Eagle Plains, covering a total of 5,905 hectares across the Gulch, Lorado, Smitty, Don Lake, Beaver River, and Black Bay properties.
• The issued shares are subject to a four-month hold period under Canadian securities laws.

Key Details

• Counterparty: Eagle Plains Resources Ltd.
• Consideration: Aggregate of 900,000 common shares of Xcite Uranium Inc.
• Earn-Interest: Up to 80% interest in the target properties.
• Target Properties: Six uranium projects totaling 5,905 hectares:
  • Gulch
  • Lorado
  • Smitty
  • Don Lake
  • Beaver River
  • Black Bay
• Location: Close proximity to Uranium City, Northern Saskatchewan (Athabasca Basin).
• Share Restrictions: Shares subject to a four-month hold period in accordance with applicable Canadian securities laws.

Notable Quotes

• None provided in the source text.