Xcite to Issue Shares under Option Agreements for Multiple Athabasca Basin Uranium Projects

Executive Summary

• Xcite Uranium Inc. will issue a total of 900,000 common shares to Eagle Plains Resources Ltd. under six separate option agreements.
• The issuance gives Xcite the right to earn up to an 80 % interest in six uranium projects (totaling 5,905 ha) located near Uranium City, Saskatchewan.
• Shares will be subject to a four‑month hold period pursuant to Canadian securities law.

Key Details

• Number of shares: 900,000 common shares to be issued to Eagle Plains Resources Ltd.
• Transaction structure: Six individual option agreements; each agreement allows Xcite to earn up to an 80 % working interest in one of the following properties: Gulch, Lorado, Smitty, Don Lake, Beaver River, and Black Bay.
• Total project area: 5,905 hectares across the six uranium projects.
• Geographic focus: Projects are situated in close proximity to Uranium City in northern Saskatchewan (Athabasca Basin).
• Hold period: Issued shares will be subject to a four‑month hold period in accordance with applicable Canadian securities laws.
• Strategic rationale: The transaction expands Xcite’s uranium project portfolio, positioning the company for high‑grade discovery and development within a historic uranium producing region that has been dormant for 40 years.

Notable Quotes

(No direct quotes were provided in the release.)