Mr. Jean-Francois Meilleur reports

XCITE RESOURCES INC. ISSUES STOCK OPTIONS

Xcite Resources Inc. has granted an aggregate of 4.9 million stock options to directors, officers and consultants of the company. Each option is exercisable for one common share of the company at a price of 14 cents for five years.

Directors and officers of the company received stock options, which is considered to be a related party transaction as defined under Multilateral Instrument 61-101. The related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the transaction does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101. In considering and unanimously approving the transaction, there were no materially contrary views, abstentions (except for any abstentions required by corporate law) or material disagreements by any director of the company. The company did not file a material change report at least 21 days before issuing the stock options, which is reasonable given the MI 61-101 exemptions noted above.

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.