Mr. Jean-Francois Meilleur reports

XCITE ADOPTS OMNIBUS LONG-TERM INCENTIVE PLAN

The board of directors of Xcite Uranium Inc. has approved and adopted an omnibus long-term incentive plan (LTIP). The aggregate number of common shares of the company that may be reserved for issuance, at any time, under the LTIP or under any other share compensation arrangement adopted by the company, may not exceed 15 per cent of the issued and outstanding shares at the time of grant. The LTIP will be presented to the shareholders of the company at the company's annual general and special meeting of shareholders, scheduled for June 24, 2026. Once approved by the shareholders, the LTIP will become effective and will replace the company's current stock option plan, and currently issued and outstanding company stock options will be governed by the LTIP.

About Xcite Uranium Inc.

Xcite Uranium 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.

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