Xcite closes $1.03-million second tranche of financing

Mr. Jean-Francois Meilleur reports XCITE RESOURCES ANNOUNCES CLOSING OF SECOND TRANCHE OF NON-BROKERED FINANCING Xcite Resources Inc. has closed a second tranche of its previously announced non-brokered private placements. Under the second tranche, the company raised gross proceeds of $1,030,200, comprising gross proceeds of $899,200 through the issuance of 7,493,334 units at a price of 12 cents per unit and gross proceeds of $131,000 through the issuance of 818,750 flow-through (FT) common shares at a price of 16 cents per FT share. Each unit consists 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 Dec. 7, 2025, and until that date that is 48 months following the date of issuance (Oct. 8, 2029). The net proceeds from the offering 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). Under the second tranche, the company paid finders' fees of $73,136, issued 532,800 finders' warrants, each exercisable for one unit at a price of 12 cents per unit until Oct. 8, 2027, and 57,500 finders' warrants, each exercisable for one common share at a price of 16 cents per share until Oct. 8, 2027. All securities issued under the offering are subject to a statutory hold period of four months and one day from the date of issuance, Feb. 9, 2026, in accordance with National Instrument 45-102, Resale of Securities. The company expects to close a third tranche of the offering on or about Oct. 20, 2025. 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.