Vancouver, British Columbia, October 4, 2024: Xcite Resources Inc. (CSE:XRI) (“XRI or Xcite”) and Eagle Plains Resources Ltd. (“EPL”:TSX-V, or “Eagle Plains”), wish to advise that the NI 43-101 technical report for the Gulch, Lorado, Don Lake, Beaver River, Black Bay, and Smitty Projects has been filed under the Company’s profile on SEDAR.
Qualified Person
The independent qualified person author for the report, as defined by NI 43-101, is Aleksandar Miskovic, PhD, P. Geo of GeoTarget Solutions Inc.
About the Beaverlodge Uranium District
The Don Lake, Black Bay, Gulch, and Smitty projects are located in the Beaverlodge District near Uranium City in the Lake Athabasca region of Saskatchewan. Occurrences of uranium mineralization are abundant in the Uranium City area and have been explored and documented since the 1940s. The Beaverlodge camp was the first uranium producer in Canada, with historic production of approximately 70.25 million pounds of U3O8 completed between 1950-1982, with ore grades averaging 0.23% U3O8. The two largest producers were the Eldorado Beaverlodge (Ace-Fay-Verna) mine and the Gunnar uranium mine. The Beaverlodge area has seen limited uranium-focused exploration since the early 1990s.
Xcite and Eagle management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject properties. Past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
Beaverlodge-style uranium deposits host structurally controlled, high-grade mineralization in veins and breccia-fills within basement rocks. Mineralization often occurs at geological contacts and consists of structures filled with hematite, chlorite, and graphite associated with pitchblende.
Qualified Person
Technical information in this news release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified as the “Qualified Person” under NI 43-101.
About Xcite Resources Inc.
Xcite Resources Inc. (CSE:XRI) 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 our efforts to achieve a high-grade discovery based on new geological modeling and exploration thesis in a uranium past-producing camp dormant for 40 years. The Uranium City project portfolio consists of the Don Lake, Beaver River, Smitty, Lorado, Gulch, and Black Bay properties.
For more information, visit: XciteResources.com
On behalf of the Board of Directors of Xcite Resources Inc.
Jean-Francois Meilleur, CEO
Contact:
Jean-Francois Meilleur
CEO, Director, and Shareholder
Xcite Resources Inc. (CSE:XRI)
Email: jfmeilleur@paradox-pr.ca
Phone: +1 514 951 2730
Cautionary Note Regarding Forward-Looking Statements
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results, performance, or achievements, or developments to differ materially from the anticipated results, performance, or achievements expressed or implied by such forward-looking statements.