Xcite increases private placement to $5-million

Mr. Jean-Francois Meilleur reports XCITE RESOURCES ANNOUNCES INCREASED NON-BROKERED FINANCING Xcite Resources Inc. has increased its previously disclosed non-brokered private placement of units at a price of 12 cents per unit (see the company's news release dated Oct. 1, 2025) from gross proceeds of up to $2.7-million to gross proceeds of up to $5-million through the issuance of up to 41,666,667 units. Each unit will consist of one common share of the company and one-half of one common share purchase warrant, with each warrant entitling the holder to acquire one common share at a price of 20 cents per common share at any time after 60 days from the date of issuance until the date which is 48 months following the date of issuance. The company's concurrent offering of up to 4,375,000 flow-through common shares of the company at a price of 16 cents per share for gross proceeds of up to $700,000 remains unchanged. As previously announced (see the company's news releases dated Oct. 8, 2025, and Oct. 10, 2025), the company has already closed on gross proceeds of $1,657,200 under the unit offering and gross proceeds of $163,000 under the FT offering. The company expects to close an additional tranche under the offerings on or about Oct. 22, 2025. The net proceeds from the offerings will be used for exploration and development activities on the company's uranium projects located in the Athabasca basin and for general corporate purposes. The proceeds from the issuance of the FT shares will be used to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as defined in the Income Tax Act (Canada). About Xcite Resources Inc. 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. The Uranium City project portfolio constitutes the Don Lake, Beaver River, Smitty, Lorado, Gulch and Black Bay properties. We seek Safe Harbor.