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An update from Xcite Resources, Inc. ( (TSE:XRI) ) is now available.
Xcite Uranium Inc. will issue 900,000 common shares to Eagle Plains Resources Ltd. under six option agreements that allow Xcite to earn up to an 80% interest in six uranium projects totaling 5,905 hectares near Uranium City in northern Saskatchewan. The shares, which relate to the Gulch, Lorado, Smitty, Don Lake, Beaver River and Black Bay properties, will be subject to a four-month hold period under Canadian securities laws.
The transaction deepens Xcite’s strategic foothold in the Athabasca Basin, reinforcing its focus on reviving a past-producing uranium district through modern exploration techniques and geological modelling. Consolidating interests in this cluster of projects positions the company to scale its exploration activities in a historically significant uranium camp, potentially enhancing its leverage to any future upturn in uranium demand tied to the energy transition.
More about Xcite Resources, Inc.
Xcite Uranium Inc. is an early-stage mineral exploration company focused on the discovery and development of energy transition metals, with a particular emphasis on uranium. Its core asset portfolio comprises six properties in the Athabasca Basin near Uranium City, Saskatchewan, a historic high-grade uranium camp that has been largely dormant for four decades, where the company aims to apply new geological modelling to make high-grade discoveries.
Average Trading Volume: 142,947
Technical Sentiment Signal: Sell
Current Market Cap: C$2.36M
See more data about XRI stock on TipRanks’ Stock Analysis page.