Xcite expands Uranium City projects by staking

Executive Summary

• Xcite Resources Inc. has expanded its Uranium City project portfolio in Northern Saskatchewan by including seven newly staked dispositions from Eagle Plains into the Don Lake, Smitty, and Beaver River projects.
• The Don Lake-Smitty projects now cover a total of 4,055 hectares (contiguous with 2,649 hectares of additional claims), while the Beaver River project has increased to 3,033 hectares.
• The release details historical mineralization data for 14 SMDI occurrences within the Don Lake-Smitty area, including past-producing mines and high-grade grab samples, alongside updates on permitting and airborne geophysical surveys.

Key Details

• Project Expansion:
  • Don Lake-Smitty Projects: Now cover 4,055 hectares total, including 14 SMDI uranium occurrences. This includes an addition of 2,649 hectares of contiguous claims.
  • Beaver River Project: Now covers 3,033 hectares total, with an addition of 1,578 hectares.
  • Source: Seven dispositions recently acquired by staking in the Uranium City area by Eagle Plains.
• Historical Mineralization Data (Don Lake-Smitty Area):
  • Beta Gamma Mine (SMDI 1394): Past-producing mine. Historical underground development (1953-1955) shipped ~150 tons at 0.22%–0.77% U3O8. 2013 resampling by Pelican Minerals returned grab samples up to 0.77% U3O8.
  • Tobe Mine (SMDI 1476): 1968 drill intercept of 0.07% U3O8 over 0.9m. 1968 bulk sample of 54kg shipped with estimated grade of 60% U3O8.
  • Beta Gamma Consolidated (SMDI 1399): 1959 bulk sample of 10 tons shipped to Lorado mill.
  • West Showing (SMDI 1398): 1953-1954 drill best intercept of 3.2% U3O8 over 37cm. 1970 trench chip samples included 4.3% U3O8 over 25.4cm and 1.3% U3O8 over 40.7cm.
  • Radiometric Anomaly No. 86 (SMDI 2113): 1975 trench exposed pitchblende. 2013 resampling returned grab samples up to 1.89% U3O8 and 1.46% U3O8.
  • Aurora Yellowknife Showing (SMDI 1411): 1950 grab samples returned 0.01% to 18.20% U3O8.
• Permitting:
  • Applications submitted to the Saskatchewan Ministry of Environment for Class 2 exploration permits for all Uranium City projects.
  • Permits allow for ground-based geophysics, temporary work camps, and diamond drilling.
• Geophysics:
  • Final deliverables received from 2025 Geotech airborne VTEM Plus survey.
  • Total survey coverage: 697 line kilometres.
  • Data sent to Condor Consulting Inc. for modeling/interpretation to refine drill targets.
• Regional Context:
  • Projects located in the Beaverlodge district, the first uranium producer in Canada (historic production ~70.25 million lbs U3O8, 1950-1982).
  • Area has seen limited exploration since the early 1990s.
• Disclaimer: Historical results were not verified by a qualified person and are not indicative of future results.

Notable Quotes

• "Xcite Resources is an early-stage exploration company working to become a leader in the discovery and development of energy transition metals. The uranium project portfolio in the Athabasca basin will propel the company's efforts to achieve a high-grade discovery based on new geological modelling and exploration thesis in a past-producing uranium camp dormant for 40 years."