en.Wedoany.com Reported - Xcite Uranium Inc. has identified strong correlations between the VIC and COMBINED mineralized zones and anomalous conductivity trends from preliminary geophysical survey results at the Beaver River Uranium Project in Saskatchewan, Canada. Condor Consulting Inc. has completed most of the advanced interpretation and modeling work, the results of which will be used to prioritize areas for summer field work and support drill hole targeting for the third and fourth quarters of 2026.

The Beaver River Project is located approximately 40 kilometers southeast of Uranium City, covering a total area of 4,502 hectares with near-surface, high-grade uranium mineralization. In 2025, Geotech Airborne Geophysical Surveys conducted an airborne geophysical survey over the project using the VTEM Plus system, and the data from this fall survey was merged with publicly available VTEM data from previous operators. Since data acquisition was completed, the project's mineral claim area has expanded by over 3,000 hectares.

XRI Beaver River Geophysical Map Link – Figure 1. Conductivity

XRI Beaver River Geophysical Map Link – Figure 2. Magnetics

Beaver River highlights include: the highest assay result of 29.89% U3O8 from historical trench grab samples; historical drill hole intercepts including 0.18% U3O8 over 0.3 meters and 0.06% U3O8 over 0.61 meters; a VIC mineralization trend exceeding 1 kilometer in length; and polymetallic Beaverlodge-type uranium mineralization potential within east-west and northwest-southeast trending fault zones.

The Uranium City Project is covered by a formal exploration agreement between Eagle Plains and the Ya'thi Néné Lands and Resource Office, which represents the Athabasca Denesułiné First Nations of Hatchet Lake, Black Lake, and Fond du Lac, as well as the northern settlements of Stony Rapids, Uranium City, Wollaston Lake, and Camsell Portage.

The Beaver River Project covers five Saskatchewan Mineral Deposit Index occurrences associated with Beaverlodge-type uranium mineralization. The polymetallic VIC U-Cu-Ni mineralized zone occurs along a northwest-southeast trending fault zone, traced for approximately 1 kilometer, with mineralization hosted in quartz vein fracture fillings containing sulfides, graphite, pitchblende, and uraninite. Historical channel sample assays returned 29.89% U3O8 over 0.3 meters, 18.09% U3O8 over 0.2 meters, and 3.09% U3O8 over 0.6 meters. The southeast zone was drill-tested by nine shallow holes averaging 80 meters in depth, returning results including 0.18% U3O8 over 0.3 meters and 0.06% U3O8 over 0.61 meters, with anomalous copper, nickel, gold, and silver. The northwest portion of the VIC zone was identified by Denison Mines as a priority area for follow-up work and has not yet been drilled.

The Combined Mining uranium occurrence has delineated a northeast-trending pitchblende-bearing fracture with a strike length of 137.2 meters, with trench assays returning 0.23% U3O8 over 0.5 meters and 1.77% U3O8 over 0.9 meters.

Since the initial discovery of uranium mineralization in 1958, a total of 1,708 meters of diamond drilling (26 shallow holes) has been completed at the Beaver River property, with the last drilling conducted by Trans-Canada Resources in 1969. In 2016, Geotech conducted VTEM electromagnetic and magnetic surveys for Fission 3.0 covering the eastern portion of the property, delineating multiple enhanced conductivity zones, including parallel conductors and offsets and terminations indicating cross-cutting structures. The most recent recorded work was completed by Fission 3.0, who relocated and resampled historical trenches at the VIC occurrence.

The Beaverlodge district is Canada's first uranium production site, with historical production of approximately 70.25 million pounds of U3O8 at an average grade of 0.23% U3O8 between 1950 and 1982. Major producers included the Eldorado Beaverlodge (Ace-Fay-Verna) mine and the Gunnar uranium mine. Exploration activity in the area has been limited since the early 1990s.

The scientific and technical disclosure in this news release has been reviewed and approved by Charles C. Downie, P.Geo., a qualified person under National Instrument 43-101 standards, who is also a director of Eagle Plains.

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