Cranbrook, BC — November 5, 2025 — Leads & Copy — Option partner Xcite Resources Inc. has notified Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGPLF) that survey equipment has been mobilized to commence a geophysical survey on EPL’s 100% owned Beaver River, Black Bay, Don Lake, Gulch, Lorado and Smitty Projects.
Geotech Airborne Geophysical Surveys has been contracted to complete 697 line-km of helicopter-borne surveying using Geotech’s proprietary VTEM Plus system, split between each of the 6 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; and 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.
Under the terms of the agreements, Xcite may earn an 80% interest in each of the Beaver River, Black Bay, Don Lake, Gulch, Black Bay, and Smitty projects by completing CDN$3,200,000 in exploration expenditures, issuing 750,000 common shares of Xcite and making cash payments to Eagle Plains of CDN$55,000 over four years, for an aggregate of CDN$19,200,000 in exploration expenditures, 4,500,000 shares and $330,000 in cash to Eagle Plains.
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 N.I. 43-101.
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673) or Email: info@eagleplains.com
“C.C. (Chuck) Downie, P.Geo” is President and CEO of Eagle Plains
Source: Eagle Plains Resources Ltd.
