Xcite Define Uranium Geophysical Trends at Black Bay, Lorado and Gulch Projects

Vancouver, British Columbia--(Newsfile Corp. - June 11, 2026) - Xcite Uranium Inc. (CSE: XRI) ("XRI", "Xcite" or the "Company") is pleased to announce initial geophysical results from a 2025 VTEM Plus airborne geophysical survey carried out by Geotech Airborne Geophysical Surveys that covered the Black Bay (1114ha), Lorado (643ha) and Gulch (1996ha) uranium projects. Advanced geophysical interpretation and modeling by Condor Consulting Inc. is nearing completion and will aid in prioritizing areas for summer fieldwork and targeting drill holes in Q3/Q4 2026.

At the Gulch Project, the regional Black Bay Fault, one of the main controlling structures for uranium mineralization in the Beaverlodge camp, is clearly defined along a break between anomalous high conductivity to the east and low conductivity to the west (Figure 1). The Calculated Vertical Gradient (CVG) of the magnetic data defines the Black Fault as an area with a high magnetic trend with offsets and splays possibly indicative of a favorable structural environment (Figure 2). A similar correlation is shown at the Lorado Project, with the Lorado Mine - Pitchie trend occurring along a coincident conductivity and magnetic high. Uranium mineralization at the Black Bay project occurs along the flanks of a pronounced magnetic high.

The 2025 VTEM Plus airborne geophysical survey covered the six uranium projects and the survey data was merged with publicly available geophysical data collected by previous operators.

XRI Compilation Geophysics map - Figure 1. Conductivity

XRI Compilation Geophysics map - Figure 2. Magnetics

Project Highlights

Black Bay

• Grab samples from historical drill core at 12.8m depth returned 16.74% and 9.64% U3O8
• Seven SMDI mineral occurrences
• Host to the past producing Black Bay Uranium Mine

Lorado

• Three SMDI uranium occurrences
• Host to the past producing Lorado Uranium Mine
• Drilling at Pitche Zone returned 0.79% U3O8 over 1.88m
• Structurally controlled uranium mineralization associated with graphite and pyrite

Gulch

• Four SMDI uranium occurrences
• Host to the past producing Gulch Uranium Mine
• Uranium mineralization is associated with regional Black Bay structure
• Trenching returned up to 0.37% U3O8 over 3m
• Prospective for both polymetallic Beaverlodge-type and unconformity-related uranium mineralization

Uranium City project map

The Uranium City projects are included in a formal Exploration Agreement between Eagle Plains and the Ya'thi Néné Lands and Resource Office ("YNLR"), representing the Athabasca Denesułiné First Nations of Hatchet Lake, Black Lake, and Fond du Lac, the Northern Hamlet of Stony Rapids, and the Northern Settlements of Uranium City, Wollaston Lake and Camsell Portage.

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