Eagle Plains and Xcite Define Prospective Geophysical Trends at Black Bay, Lorado and Gulch Uranium Projects, SK.

CRANBROOK, BC / ACCESS Newswire / June 11, 2026 / Eagle Plains Resources Ltd. (TSX-V:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") with partner, Xcite Uranium Inc. (TSX-V:XRI) ("XRI or Xcite"), 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.

The Black Bay, Lorado and Gulch uranium projects are located near Uranium City, Saskatchewan, and host near surface uranium mineralization as well as past producing uranium mines. In December 2023 Eagle Plains granted Xcite the exclusive right to earn up to an 80% interest in the Gulch, Lorado, Beaver River, Black Bay, Don Lake, and Smitty projects (see Dec 14 news release). The six projects comprising the Xcite option agreements cover 54 Saskatchewan Mineral Deposit Index (SMDI) occurrences and five past-producing uranium mines, and are 100% owned by Eagle Plains. The projects are prospective for Beaverlodge style, basement hosted and unconformity hosted uranium mineralization.

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