Mr. Jean-Francois Meilleur reports

XCITE RESOURCES COMMENCES AIRBORNE GEOPHYSICAL SURVEYS AT URANIUM CITY AREA PROJECTS, SASKATCHEWAN

Xcite Resources Inc., with its partner, Eagle Plains Resources Ltd., has begun the airborne geophysical survey on the six Uranium City projects. The survey equipment has been mobilized to commence a geophysical survey on the Beaver River, Black Bay, Don Lake, Gulch, Lorado and Smitty projects.

Geotech Airborne Geophysical Surveys has been contracted to complete 697 line kilometres of helicopter-borne surveying using Geotech's proprietary VTEM Plus system, split between each of the six projects. Data collection will include infill lines in areas with historical coverage as well as extending surveying to new areas.

The Uranium City area projects have potential for both Beaverlodge-style and basement-hosted uranium mineralization. Key features about the projects include:

• Outcropping, largely northeast-southwest-trending tectonic fabric;
• Electromagnetic conductors that have been confirmed as graphite-rich pelites within or near major faults;
• Anomalous uranium geochemistry and radioactivity associated with graphitic faults;
• Compelling property-wide evidence for hydrothermal alteration;
• Uranium mineralization with corresponding elevations in pathfinder elements.

These factors, along with the presence of a substantial uranium endowment in both basement rocks and Athabasca basin cover rocks, indicate excellent potential for economic uranium mineralization within the project. The mineralization, structures and alteration identified on the claims to date are strong indicators of the possibility of a nearby source for the uranium mineralization.

About the Beaverlodge uranium district

The Don Lake, Black Bay, Don Lake, Gulch, Black Bay 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 (triuranium octoxide) completed between 1950 and 1982, with ore grades averaging 0.23 per cent 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.

Eagle Plains' management cautions that 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, PGeo, a director and officer of Eagle Plains, hereby identified as the"qualified person under National Instrument 43-101.

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.