{"success":true,"data":{"pressRelease":{"id":"160067","rtpr_id":"nPNAmDcJYa-20261005","ticker":"XRI","exchange":"","all_tickers":["XRI"],"title":"Xcite Uranium Adds Second Drill & Commences Drilling at Black Bay Uranium Project, Saskatchewan","author":"PR Newswire","published_at":"2026-10-05T08:00:00.253Z","article_body":"Xcite Uranium Adds Second Drill & Commences Drilling at Black Bay Uranium\nProject, Saskatchewan\nPR Newswire\n\nVANCOUVER, BC, Oct. 5, 2026\n\nVANCOUVER, BC, Oct. 5, 2026 /PRNewswire/ -- Xcite Uranium Inc. (CSE: XRI)\n(\"Xcite\" or the \"Company\") is pleased to announce the commencing of a\ndiamond drilling program at the past producing Black Bay Uranium Mine,\nSaskatchewan. The 1300m, 6-hole program will test for uranium\nmineralization defined by both historical work and results from the 2025-2026\nfield programs. Xcite has procured a second drill rig to facilitate timely\ncompletion of the planned drilling programs.\n\nThe Black Bay uranium project is located 20km south of Uranium City,\nSaskatchewan, and hosts near surface uranium mineralization as well as the\npast producing Black Bay uranium mine. The project is prospective for\nBeaverlodge style, basement hosted and unconformity hosted uranium\nmineralization.\n\nBlack Bay Project Highlights\n* Historic records from 1954 to 1958 show approximately 1,375 tons grading\n0.17% U₃O₈ (https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/1296)\n* Grab samples from historical drill core at the Blue Grass 'B' Zone include\n9.64% U3O8 and 16.74% U3O8 \n* Historic trench samples include 6.51% U3O8, 3.78% U3O8 and 3.62% U3O8 over\n0.3m,\n* Property has potential for Beaverlodge-style and basement-hosted\nunconformity style uranium mineralization.\nThe approved 2026 budget for Black Bay is approximately $1.1 million,\nconsisting of $125,000 in fieldwork (completed) and $975,000 allocated for\ndrilling. All work is managed by TerraLogic Exploration Inc.\n\nBlack Bay Compilation Map\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4789240-1&h=2114981670&u=https%3A%2F%2Fxciteuranium.com%2Fimages%2Fuploads%2FBB_DDH%2520Commence_XRI_202610XX.jpeg&a=Black+Bay+Compilation+Map)\n\n2026 Black Bay Field Program\n\n2026 fieldwork included prospecting, rock and soil geochemical sampling,\nstructural mapping, and scintillometer surveying. A total of 32 rock samples\nwere collected. Geophysical work included 4 km(2 )of drone lidar surveying. In\naddition, Condor Consulting was contracted to complete interpretation and\nmodelling of 745 line-km of VTEM Plus geophysical data collected by Geotech in\n2025, which was integrated with historical geophysical data. \n\nThe Black Bay mine is situated within a 4 km NW-trending linear geophysical\ntrend comprising high EM conductors and coincident magnetic low to\ntransitional lineaments. Summer field work located historical trenches along\nthe mine trend with 2026 results from 3 separate trenches returning up to\n1.17% U3O8 (HSBBR001), 4033 ppm U3O8 (AXBBR002), and 450.5 ppm U3O8\n(EKBBR001). Corresponding hand-held scintillometer results (RS-125(1))\nreturned >65600 cps, >51000 cps, and >5500 cps from those trenches,\nrespectively. EKBBR005, a sample of mineralized float collected in the area of\nthe historic Brunston Zone returned 7.37% U3O8. 2024 grab sampling of dump\nmaterial from the Black Bay mine returned up to 3.61% U3O8 (JBBBR001).\n\n (1)Radioactive anomaly intervals are defined statistically at greater than 3 times average background counts: (i) at >250 counts per second (cps) measured with a Radiation Solutions Super Spec (\"RS-125\") hand held Gamma Ray Spectrometer (ii) is accompanied by structure, hydrothermal alteration, or uranium mineralization typical of Beaverlodge type, or basement-hosted Athabasca unconformity type related uranium deposits, and (iii) spectrometric analyses by RS-125 indicates uranium to be the dominant source.  \n\nBlue Grass Trenches\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4789240-1&h=3787988829&u=https%3A%2F%2Fxciteuranium.com%2Fimages%2Fuploads%2FIMG_1066.jpeg&a=Blue+Grass+Trenches)\n\n\nBlack Bay Drill Program\n\nThe 2026 drilling will test for both structurally-controlled Beaverlodge-type\nmineralization and basement-hosted unconformity style mineralization. Drilling\nwill target the 2025 VTEM conductors along trend from the Black Bay Mine,\nespecially where they parallel and/or intersect magnetic high-low contacts,\ninterpreted as potential mineralizing structures. The program will consist of\n1300m of diamond drilling, with 6 holes from 5 different pad locations. The\ndrilling will use a second drill rig, under contract to Base Diamond Drilling,\nwith crews based out of Uranium City.\n\nAbout the Black Bay Project\n\nThe 1114ha project overlies 7 Saskatchewan Mineral Deposit Index (\"SMDI\")\noccurrences including the past-producing Black Bay Uranium Mine (SMDI 1296). \n\nThe Black Bay property geology is complex, and includes quartzites,\nmetavolcanics, metasediments, gabbros and granitic intrusions. Uranium\nmineralization occurs near lithological contacts and faults, is typically\npresent as pitchblende, and is often associated with sulphides. Vein-hosted\ngold mineralization is also present on the property.\n\nPitchblende mineralization at the Black Bay Mine occurs in drag folds along\nthe contact zone between quartzites and gabbros, and is typically associated\nwith hematite and graphite. Several small ore shoots are developed adjacent to\nthe contact for a strike length of 152.4 m and a down-dip distance of 731.5 m.\nThe mineralization has a strong structural component which defines three main\nore shoots, the A, B, and C Zones. The A Zone extends a length of 13.7 m and\nwidth of 0.9 m with an average grade of 0.47% U3O8. Zone B extends 22.9 m over\na width of 1.5 m with an average grade of 0.72% U3O8 and Zone C extends 6.1 m\nover a 4.6 m with an average grade of 0.91% U3O8 (AF 74N07-0025).\n\nApproximately 0.6 km west-northwest of the Black Bay portal is the Bluegrass\nUranium Zone A showing (SMDI 1295), consisting of a brecciated zone in the\nquartzite adjacent to the contact with the gabbro- hosting pitchblende\nassociated with graphite and sulphides. West of the A Zone are the B and C\n(Powder) Zone occurrences, along the same graphitic contact. An extensive\ntrenching and sampling program in 1955 returned values ranging from trace\namounts up to 6.51% U3O8 over 30cm from the B Zone West (74N09-0111). Other B\nZone samples had average grades of 3.78% U3O8 over 0.3 m by 0.3 m (sample 710)\nand 3.62% U3O8 over 0.3 m by 0.6 m (sample 528). 33 diamond drill holes were\ncompleted along the Blue Grass trend, totalling 1659 m. Sample 514 from hole\nA-19 at the B Zone extension, assayed 0.66% U3O8 over 0.3 m (from 54.25 m to\n54.55 m) (74N09-0111).\n\nIn the western portion of the Black Bay tenure are the Brunston Mining Uranium\nZones No. 1 (SMDI 1363) and No. 3 (SMDI 1364). Zone No. 1 consists of\nscattered radioactive fractures that occur in arkose just above the Martin\nFormation unconformity. Diamond drilling was completed over the showing and\nthe best assay returned was 0.21% U3O8 over 0.6 m (74N10-0138). Zone No. 3\nconsists of a brecciated area that hosts pitchblende within a unit of reddened\nquartzite containing pitchblende, sulphides and quartz. Trench samples taken\nat the showing returned from 0.06% to 6.25% U3O8 (SMDI 1364).\n\nThe Bearcat Showings (SMDI 1258) are located in the eastern part of the\nproperty. At the Bearcat No. 1 Zone or the Bearcat Uranium Occurrence\nschist-hosted uranium mineralization is exposed in a series of trenches. Grab\nsample U90-107 returned 0.47% U3O8 (74N09-0286). Uranium mineralization at the\nBearcat No. 2 Zone is associated with sulphides, graphite and gold and occurs\nalong a contact between a quartzite and a chlorite schist. The area has been\nexplored with trenching and limited shallow diamond drilling. Historical\nresults include grab samples which returned from trace values up to 0.52%\nU3O8, 0.34% U3O8 and 0.31% U3O8. Analytical results from hole BC-4 drilled at\nBearcat No. 2 zone returned 0.22% U3O8 and 0.44% Cu from 54.5-55.0 m. Chip\nsamples at the Bearcat No. 3 Zone over widths of 0.10-0.20 m returned up to\n2.285% U3O8, 13.9 ppm Au, 80 ppb Pt and 15 ppb Pd (74N09-0286).\n\nBlack Bay History\n\nThe first period of activity at Black Bay was from the early 1950s until 1960.\nFrom 1953-1960 Black Bay Uranium Ltd. discovered and developed the Black Bay\nUranium Mine, which produced approximately 1375 tons of material with a grade\nof 0.17% U3O8 that was shipped to the Lorado custom mill for processing.\nBetween 1953 and 1956, Brunston Mining Company Ltd. explored their No. 1 and\nNo.3 showings (SMDI 1363 & 1364) with a ground Geiger survey, trenching and 29\ndiamond drill holes totalling 1567.93 m on the Herb and Peg claims, parts of\nwhich overlap the current tenure in southwest.\n\nIn 1955, Blue Grass Uranium Mines Ltd. discovered the Bluegrass Uranium Zone\n(SMDI 1295), located west of the Black Bay uranium mine. Blue Grass conducted\ngeological mapping, Geiger prospecting, trenching, stripping, and completed\n1659m of diamond drilling in 33 holes. (74N09-0111). Other companies active in\nthe area during this time included Canadian Astoria Minerals Ltd., Reward\nUranium Ltd., Ebor Uranium Mines Ltd., and Scintilore Mines Ltd., which\ndiscovered the Bearcat Lake mineralization (SMDI 1258).\n\nIn 1967, Bearcat Uranium Ltd. explored the Bearcat Lake area while Majestic\nMines Ltd. worked the Brunston Mining and Blue Grass areas. Bearcat carried\nout an airborne scintillometer survey which identified nine radioactive\nanomalies. Majestic completed 15 diamond drill holes (831m) across the Blue\nGrass B Zone and Powder Zone showings.\n\nSaskatchewan Mining and Development Corporation (SMDC) was active in the Black\nBay area in 1979 – 80, conducting work in the Bearcat showing area\n(74N09-0286). A ground scintillometer survey and a 92.37-line km airborne\nVLF-EM survey were completed, revealing numerous strong conductors along\neast-west oriented linear belts across the Bearcat-Mackintosh areas. This was\nfollowed up with trenching and a 16-hole, 1159m diamond drilling program. SMDC\nreturned to the Bearcat area in 1987-88, completing re-sampling of select\ndrill holes from 1979-80.\n\nThe next exploration in the Black Bay area occurred in 1997 when Greater\nLenora Resources Corporation conducted an airborne DIGHEM-V geophysical survey\nover the central part of the current Black Bay tenures. Several EM anomalies\ntypical of massive sulphide responses were reported (74N-0007).\n\nThe last recorded work on the current tenures was by Dubnick in 2010 who\nlocated SMDI 5629 with prospecting.\n\nManagement of Eagle Plains and Xcite are encouraged by the tenor of\nmineralization displayed in trenches and historical drilling at Black Bay and\nbelieve there is significant potential for additional uranium mineralization\nto be discovered both along strike and to depth within known mineralized\nareas.\n\nUranium City Projects Map\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4789240-1&h=3055661002&u=https%3A%2F%2Fxciteuranium.com%2Fimages%2Fuploads%2Fnorth-athabasca-basin-projects-20260603.png&a=Uranium+City+Projects+Map)\n\nThe Uranium City projects are included in a formal Exploration Agreement\nbetween Eagle Plains and the Ya'thi Néné Lands and Resource Office (\"YNLR\"),\nrepresenting the Athabasca Denesułiné First Nations of Hatchet Lake, Black\nLake, and Fond du Lac, the Northern Hamlet of Stony Rapids, and the Northern\nSettlements of Uranium City, Wollaston Lake and Camsell Portage.\n\nRock grab samples are selective samples by nature and as such are not\nnecessarily representative of the mineralization hosted across the property.\nSome of the above results were taken directly from the SMDI descriptions and\nassessment reports (AF) filed with the Saskatchewan government.Management\ncautions that historical results were collected and reported by past operators\nand have not been verified nor confirmed by a Qualified Person, but form a\nbasis for ongoing work on the subject properties. Management cautions that\npast results or discoveries on proximate land are not necessarily indicative\nof the results that may be achieved on the subject properties.\n\nAbout the Beaverlodge Uranium District\n\nThe Beaver River, Black Bay, Don Lake, Gulch, Lorado, and Smitty projects are\nlocated in the Beaverlodge District near Uranium City in the Lake Athabasca\nregion of Saskatchewan. Occurrences of uranium mineralization are abundant in\nthe Uranium City area and have been explored and documented since the 1940s.\nThe Beaverlodge camp was the first uranium producer in Canada, with historic\nproduction of approximately 70.25 million pounds of U3O8 between 1950-1982,\nfrom ore grades averaging 0.23% U3O8. The two largest producers were the\nEldorado Beaverlodge (Ace-Fay-Verna) mine and the Gunnar uranium mine. The\nBeaverlodge area has seen limited uranium focused exploration since the early\n1990's.\n\nThe Uranium City area projects have potential for both Beaverlodge-style and\nbasement-hosted uranium mineralization. Key features about the projects\ninclude: \n* Outcropping, largely northeast-southwest-trending tectonic fabric;\n* Electromagnetic conductors that have been confirmed as graphite-rich pelites\nwithin or near major faults;\n* Anomalous uranium geochemistry and radioactivity associated with graphitic\nfaults;\n* Compelling property-wide evidence for hydrothermal alteration;\n* Uranium mineralization with corresponding elevations in pathfinder elements.\nThese factors, along with the presence of a substantial uranium endowment in\nboth basement rocks and Athabasca basin cover rocks, indicate excellent\npotential for economic uranium mineralization within the project. The\nmineralization, structures and alteration identified on the claims to date are\nstrong indicators of the possibility of a nearby source for the uranium\nmineralization.\n\nQualified Person\n\nTechnical information in this News Release has been reviewed and approved by\nC.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified\nas the \"Qualified Person\" under N.I. 43-101.\n\nThe technical content disclosed in this news release was reviewed and approved\nby Lorne M. Warner P.Geo, an independent Qualified Person as per National\nInstrument 43-101 - Standards of Disclosure for Mineral Projects.\n\nOn behalf of the Board of Directors of Xcite Uranium Inc.\nJean-Francois Meilleur, CEO\n\nNeither the CSE nor its Regulation Services Provider (as that term is defined\nin the policies of the CSE) accepts responsibility for the adequacy or\naccuracy of this news release.\n\nCautionary Note Regarding Forward-Looking Statements:\nCertain statements contained in this news release constitute \"forward-looking\ninformation\" as such term is defined in applicable Canadian securities\nlegislation. The words \"may\", \"would\", \"could\", \"should\", \"potential\", \"will\",\n\"seek\", \"intend\", \"plan\", \"anticipate\", \"believe\", \"estimate\", \"expect\" and\nsimilar expressions as they relate to the Company, are intended to identify\nforward-looking information. All statements other than statements of\nhistorical fact may be forward-looking information. Such statements reflect\nthe Company's current views and intentions with respect to future events, and\ncurrent information available to them, and are subject to certain risks,\nuncertainties and assumptions, including, without limitation: the potential of\nthe Company's mineral properties; the estimation of capital requirements; the\nestimation of operating costs; the timing and amount of future business\nexpenditures; and the availability of necessary financing. Many factors could\ncause the actual results, performance or achievements that may be expressed or\nimplied by such forward-looking information to vary from those described\nherein should one or more of these risks or uncertainties materialize. Such\nfactors include but are not limited to: changes in economic conditions or\nfinancial markets; increases in costs; litigation; legislative, environmental\nand other judicial, regulatory, political and competitive developments; and\nexploration or operational difficulties. This list is not exhaustive of the\nfactors that may affect forward-looking information. These and other factors\nshould be considered carefully, and readers should not place undue reliance on\nsuch forward-looking information. Should any factor affect the Company in an\nunexpected manner, or should assumptions underlying the forward-looking\ninformation prove incorrect, the actual results or events may differ\nmaterially from the results or events predicted. Any such forward- looking\ninformation is expressly qualified in its entirety by this cautionary\nstatement. Moreover, the Company does not assume responsibility for the\naccuracy or completeness of such forward-looking information. The\nforward-looking information included in this press release is made as of the\ndate of this press release and the Company undertakes no obligation to\npublicly update or revise any forward-looking information, other than as\nrequired by applicable law.\n\n\nView original content to download\nmultimedia:https://www.prnewswire.com/apac/news-releases/xcite-uranium-adds-second-drill--commences-drilling-at-black-bay-uranium-project-saskatchewan-302898041.html\n\nSOURCE Xcite Uranium Inc.\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS2002113/Xcite-Uranium-Inc-Xcite-Uranium-Adds-Second-Drill-Commences-D.jpg?id=OA2986455\nhttps://mmx.prnewswire.com/media/MS2002112/Xcite-Uranium-Inc-Xcite-Uranium-Adds-Second-Drill-Commences-D.jpg?id=OA2986454\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPNAmDcJYa-20261005","title":"Xcite Uranium Adds Second Drill & Commences Drilling at Black Bay Uranium Project, Saskatchewan","author":"PR Newswire","ticker":"XRI","created":"2026-10-05T08:00:00.253Z","tickers":["XRI"],"exchange":"","article_body":"Xcite Uranium Adds Second Drill & Commences Drilling at Black Bay Uranium\nProject, Saskatchewan\nPR Newswire\n\nVANCOUVER, BC, Oct. 5, 2026\n\nVANCOUVER, BC, Oct. 5, 2026 /PRNewswire/ -- Xcite Uranium Inc. (CSE: XRI)\n(\"Xcite\" or the \"Company\") is pleased to announce the commencing of a\ndiamond drilling program at the past producing Black Bay Uranium Mine,\nSaskatchewan. The 1300m, 6-hole program will test for uranium\nmineralization defined by both historical work and results from the 2025-2026\nfield programs. Xcite has procured a second drill rig to facilitate timely\ncompletion of the planned drilling programs.\n\nThe Black Bay uranium project is located 20km south of Uranium City,\nSaskatchewan, and hosts near surface uranium mineralization as well as the\npast producing Black Bay uranium mine. The project is prospective for\nBeaverlodge style, basement hosted and unconformity hosted uranium\nmineralization.\n\nBlack Bay Project Highlights\n* Historic records from 1954 to 1958 show approximately 1,375 tons grading\n0.17% U₃O₈ (https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/1296)\n* Grab samples from historical drill core at the Blue Grass 'B' Zone include\n9.64% U3O8 and 16.74% U3O8 \n* Historic trench samples include 6.51% U3O8, 3.78% U3O8 and 3.62% U3O8 over\n0.3m,\n* Property has potential for Beaverlodge-style and basement-hosted\nunconformity style uranium mineralization.\nThe approved 2026 budget for Black Bay is approximately $1.1 million,\nconsisting of $125,000 in fieldwork (completed) and $975,000 allocated for\ndrilling. All work is managed by TerraLogic Exploration Inc.\n\nBlack Bay Compilation Map\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4789240-1&h=2114981670&u=https%3A%2F%2Fxciteuranium.com%2Fimages%2Fuploads%2FBB_DDH%2520Commence_XRI_202610XX.jpeg&a=Black+Bay+Compilation+Map)\n\n2026 Black Bay Field Program\n\n2026 fieldwork included prospecting, rock and soil geochemical sampling,\nstructural mapping, and scintillometer surveying. A total of 32 rock samples\nwere collected. Geophysical work included 4 km(2 )of drone lidar surveying. In\naddition, Condor Consulting was contracted to complete interpretation and\nmodelling of 745 line-km of VTEM Plus geophysical data collected by Geotech in\n2025, which was integrated with historical geophysical data. \n\nThe Black Bay mine is situated within a 4 km NW-trending linear geophysical\ntrend comprising high EM conductors and coincident magnetic low to\ntransitional lineaments. Summer field work located historical trenches along\nthe mine trend with 2026 results from 3 separate trenches returning up to\n1.17% U3O8 (HSBBR001), 4033 ppm U3O8 (AXBBR002), and 450.5 ppm U3O8\n(EKBBR001). Corresponding hand-held scintillometer results (RS-125(1))\nreturned >65600 cps, >51000 cps, and >5500 cps from those trenches,\nrespectively. EKBBR005, a sample of mineralized float collected in the area of\nthe historic Brunston Zone returned 7.37% U3O8. 2024 grab sampling of dump\nmaterial from the Black Bay mine returned up to 3.61% U3O8 (JBBBR001).\n\n (1)Radioactive anomaly intervals are defined statistically at greater than 3 times average background counts: (i) at >250 counts per second (cps) measured with a Radiation Solutions Super Spec (\"RS-125\") hand held Gamma Ray Spectrometer (ii) is accompanied by structure, hydrothermal alteration, or uranium mineralization typical of Beaverlodge type, or basement-hosted Athabasca unconformity type related uranium deposits, and (iii) spectrometric analyses by RS-125 indicates uranium to be the dominant source.  \n\nBlue Grass Trenches\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4789240-1&h=3787988829&u=https%3A%2F%2Fxciteuranium.com%2Fimages%2Fuploads%2FIMG_1066.jpeg&a=Blue+Grass+Trenches)\n\n\nBlack Bay Drill Program\n\nThe 2026 drilling will test for both structurally-controlled Beaverlodge-type\nmineralization and basement-hosted unconformity style mineralization. Drilling\nwill target the 2025 VTEM conductors along trend from the Black Bay Mine,\nespecially where they parallel and/or intersect magnetic high-low contacts,\ninterpreted as potential mineralizing structures. The program will consist of\n1300m of diamond drilling, with 6 holes from 5 different pad locations. The\ndrilling will use a second drill rig, under contract to Base Diamond Drilling,\nwith crews based out of Uranium City.\n\nAbout the Black Bay Project\n\nThe 1114ha project overlies 7 Saskatchewan Mineral Deposit Index (\"SMDI\")\noccurrences including the past-producing Black Bay Uranium Mine (SMDI 1296). \n\nThe Black Bay property geology is complex, and includes quartzites,\nmetavolcanics, metasediments, gabbros and granitic intrusions. Uranium\nmineralization occurs near lithological contacts and faults, is typically\npresent as pitchblende, and is often associated with sulphides. Vein-hosted\ngold mineralization is also present on the property.\n\nPitchblende mineralization at the Black Bay Mine occurs in drag folds along\nthe contact zone between quartzites and gabbros, and is typically associated\nwith hematite and graphite. Several small ore shoots are developed adjacent to\nthe contact for a strike length of 152.4 m and a down-dip distance of 731.5 m.\nThe mineralization has a strong structural component which defines three main\nore shoots, the A, B, and C Zones. The A Zone extends a length of 13.7 m and\nwidth of 0.9 m with an average grade of 0.47% U3O8. Zone B extends 22.9 m over\na width of 1.5 m with an average grade of 0.72% U3O8 and Zone C extends 6.1 m\nover a 4.6 m with an average grade of 0.91% U3O8 (AF 74N07-0025).\n\nApproximately 0.6 km west-northwest of the Black Bay portal is the Bluegrass\nUranium Zone A showing (SMDI 1295), consisting of a brecciated zone in the\nquartzite adjacent to the contact with the gabbro- hosting pitchblende\nassociated with graphite and sulphides. West of the A Zone are the B and C\n(Powder) Zone occurrences, along the same graphitic contact. An extensive\ntrenching and sampling program in 1955 returned values ranging from trace\namounts up to 6.51% U3O8 over 30cm from the B Zone West (74N09-0111). Other B\nZone samples had average grades of 3.78% U3O8 over 0.3 m by 0.3 m (sample 710)\nand 3.62% U3O8 over 0.3 m by 0.6 m (sample 528). 33 diamond drill holes were\ncompleted along the Blue Grass trend, totalling 1659 m. Sample 514 from hole\nA-19 at the B Zone extension, assayed 0.66% U3O8 over 0.3 m (from 54.25 m to\n54.55 m) (74N09-0111).\n\nIn the western portion of the Black Bay tenure are the Brunston Mining Uranium\nZones No. 1 (SMDI 1363) and No. 3 (SMDI 1364). Zone No. 1 consists of\nscattered radioactive fractures that occur in arkose just above the Martin\nFormation unconformity. Diamond drilling was completed over the showing and\nthe best assay returned was 0.21% U3O8 over 0.6 m (74N10-0138). Zone No. 3\nconsists of a brecciated area that hosts pitchblende within a unit of reddened\nquartzite containing pitchblende, sulphides and quartz. Trench samples taken\nat the showing returned from 0.06% to 6.25% U3O8 (SMDI 1364).\n\nThe Bearcat Showings (SMDI 1258) are located in the eastern part of the\nproperty. At the Bearcat No. 1 Zone or the Bearcat Uranium Occurrence\nschist-hosted uranium mineralization is exposed in a series of trenches. Grab\nsample U90-107 returned 0.47% U3O8 (74N09-0286). Uranium mineralization at the\nBearcat No. 2 Zone is associated with sulphides, graphite and gold and occurs\nalong a contact between a quartzite and a chlorite schist. The area has been\nexplored with trenching and limited shallow diamond drilling. Historical\nresults include grab samples which returned from trace values up to 0.52%\nU3O8, 0.34% U3O8 and 0.31% U3O8. Analytical results from hole BC-4 drilled at\nBearcat No. 2 zone returned 0.22% U3O8 and 0.44% Cu from 54.5-55.0 m. Chip\nsamples at the Bearcat No. 3 Zone over widths of 0.10-0.20 m returned up to\n2.285% U3O8, 13.9 ppm Au, 80 ppb Pt and 15 ppb Pd (74N09-0286).\n\nBlack Bay History\n\nThe first period of activity at Black Bay was from the early 1950s until 1960.\nFrom 1953-1960 Black Bay Uranium Ltd. discovered and developed the Black Bay\nUranium Mine, which produced approximately 1375 tons of material with a grade\nof 0.17% U3O8 that was shipped to the Lorado custom mill for processing.\nBetween 1953 and 1956, Brunston Mining Company Ltd. explored their No. 1 and\nNo.3 showings (SMDI 1363 & 1364) with a ground Geiger survey, trenching and 29\ndiamond drill holes totalling 1567.93 m on the Herb and Peg claims, parts of\nwhich overlap the current tenure in southwest.\n\nIn 1955, Blue Grass Uranium Mines Ltd. discovered the Bluegrass Uranium Zone\n(SMDI 1295), located west of the Black Bay uranium mine. Blue Grass conducted\ngeological mapping, Geiger prospecting, trenching, stripping, and completed\n1659m of diamond drilling in 33 holes. (74N09-0111). Other companies active in\nthe area during this time included Canadian Astoria Minerals Ltd., Reward\nUranium Ltd., Ebor Uranium Mines Ltd., and Scintilore Mines Ltd., which\ndiscovered the Bearcat Lake mineralization (SMDI 1258).\n\nIn 1967, Bearcat Uranium Ltd. explored the Bearcat Lake area while Majestic\nMines Ltd. worked the Brunston Mining and Blue Grass areas. Bearcat carried\nout an airborne scintillometer survey which identified nine radioactive\nanomalies. Majestic completed 15 diamond drill holes (831m) across the Blue\nGrass B Zone and Powder Zone showings.\n\nSaskatchewan Mining and Development Corporation (SMDC) was active in the Black\nBay area in 1979 – 80, conducting work in the Bearcat showing area\n(74N09-0286). A ground scintillometer survey and a 92.37-line km airborne\nVLF-EM survey were completed, revealing numerous strong conductors along\neast-west oriented linear belts across the Bearcat-Mackintosh areas. This was\nfollowed up with trenching and a 16-hole, 1159m diamond drilling program. SMDC\nreturned to the Bearcat area in 1987-88, completing re-sampling of select\ndrill holes from 1979-80.\n\nThe next exploration in the Black Bay area occurred in 1997 when Greater\nLenora Resources Corporation conducted an airborne DIGHEM-V geophysical survey\nover the central part of the current Black Bay tenures. Several EM anomalies\ntypical of massive sulphide responses were reported (74N-0007).\n\nThe last recorded work on the current tenures was by Dubnick in 2010 who\nlocated SMDI 5629 with prospecting.\n\nManagement of Eagle Plains and Xcite are encouraged by the tenor of\nmineralization displayed in trenches and historical drilling at Black Bay and\nbelieve there is significant potential for additional uranium mineralization\nto be discovered both along strike and to depth within known mineralized\nareas.\n\nUranium City Projects Map\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4789240-1&h=3055661002&u=https%3A%2F%2Fxciteuranium.com%2Fimages%2Fuploads%2Fnorth-athabasca-basin-projects-20260603.png&a=Uranium+City+Projects+Map)\n\nThe Uranium City projects are included in a formal Exploration Agreement\nbetween Eagle Plains and the Ya'thi Néné Lands and Resource Office (\"YNLR\"),\nrepresenting the Athabasca Denesułiné First Nations of Hatchet Lake, Black\nLake, and Fond du Lac, the Northern Hamlet of Stony Rapids, and the Northern\nSettlements of Uranium City, Wollaston Lake and Camsell Portage.\n\nRock grab samples are selective samples by nature and as such are not\nnecessarily representative of the mineralization hosted across the property.\nSome of the above results were taken directly from the SMDI descriptions and\nassessment reports (AF) filed with the Saskatchewan government.Management\ncautions that historical results were collected and reported by past operators\nand have not been verified nor confirmed by a Qualified Person, but form a\nbasis for ongoing work on the subject properties. Management cautions that\npast results or discoveries on proximate land are not necessarily indicative\nof the results that may be achieved on the subject properties.\n\nAbout the Beaverlodge Uranium District\n\nThe Beaver River, Black Bay, Don Lake, Gulch, Lorado, and Smitty projects are\nlocated in the Beaverlodge District near Uranium City in the Lake Athabasca\nregion of Saskatchewan. Occurrences of uranium mineralization are abundant in\nthe Uranium City area and have been explored and documented since the 1940s.\nThe Beaverlodge camp was the first uranium producer in Canada, with historic\nproduction of approximately 70.25 million pounds of U3O8 between 1950-1982,\nfrom ore grades averaging 0.23% U3O8. The two largest producers were the\nEldorado Beaverlodge (Ace-Fay-Verna) mine and the Gunnar uranium mine. The\nBeaverlodge area has seen limited uranium focused exploration since the early\n1990's.\n\nThe Uranium City area projects have potential for both Beaverlodge-style and\nbasement-hosted uranium mineralization. Key features about the projects\ninclude: \n* Outcropping, largely northeast-southwest-trending tectonic fabric;\n* Electromagnetic conductors that have been confirmed as graphite-rich pelites\nwithin or near major faults;\n* Anomalous uranium geochemistry and radioactivity associated with graphitic\nfaults;\n* Compelling property-wide evidence for hydrothermal alteration;\n* Uranium mineralization with corresponding elevations in pathfinder elements.\nThese factors, along with the presence of a substantial uranium endowment in\nboth basement rocks and Athabasca basin cover rocks, indicate excellent\npotential for economic uranium mineralization within the project. The\nmineralization, structures and alteration identified on the claims to date are\nstrong indicators of the possibility of a nearby source for the uranium\nmineralization.\n\nQualified Person\n\nTechnical information in this News Release has been reviewed and approved by\nC.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified\nas the \"Qualified Person\" under N.I. 43-101.\n\nThe technical content disclosed in this news release was reviewed and approved\nby Lorne M. Warner P.Geo, an independent Qualified Person as per National\nInstrument 43-101 - Standards of Disclosure for Mineral Projects.\n\nOn behalf of the Board of Directors of Xcite Uranium Inc.\nJean-Francois Meilleur, CEO\n\nNeither the CSE nor its Regulation Services Provider (as that term is defined\nin the policies of the CSE) accepts responsibility for the adequacy or\naccuracy of this news release.\n\nCautionary Note Regarding Forward-Looking Statements:\nCertain statements contained in this news release constitute \"forward-looking\ninformation\" as such term is defined in applicable Canadian securities\nlegislation. The words \"may\", \"would\", \"could\", \"should\", \"potential\", \"will\",\n\"seek\", \"intend\", \"plan\", \"anticipate\", \"believe\", \"estimate\", \"expect\" and\nsimilar expressions as they relate to the Company, are intended to identify\nforward-looking information. All statements other than statements of\nhistorical fact may be forward-looking information. Such statements reflect\nthe Company's current views and intentions with respect to future events, and\ncurrent information available to them, and are subject to certain risks,\nuncertainties and assumptions, including, without limitation: the potential of\nthe Company's mineral properties; the estimation of capital requirements; the\nestimation of operating costs; the timing and amount of future business\nexpenditures; and the availability of necessary financing. Many factors could\ncause the actual results, performance or achievements that may be expressed or\nimplied by such forward-looking information to vary from those described\nherein should one or more of these risks or uncertainties materialize. Such\nfactors include but are not limited to: changes in economic conditions or\nfinancial markets; increases in costs; litigation; legislative, environmental\nand other judicial, regulatory, political and competitive developments; and\nexploration or operational difficulties. This list is not exhaustive of the\nfactors that may affect forward-looking information. These and other factors\nshould be considered carefully, and readers should not place undue reliance on\nsuch forward-looking information. Should any factor affect the Company in an\nunexpected manner, or should assumptions underlying the forward-looking\ninformation prove incorrect, the actual results or events may differ\nmaterially from the results or events predicted. Any such forward- looking\ninformation is expressly qualified in its entirety by this cautionary\nstatement. Moreover, the Company does not assume responsibility for the\naccuracy or completeness of such forward-looking information. The\nforward-looking information included in this press release is made as of the\ndate of this press release and the Company undertakes no obligation to\npublicly update or revise any forward-looking information, other than as\nrequired by applicable law.\n\n\nView original content to download\nmultimedia:https://www.prnewswire.com/apac/news-releases/xcite-uranium-adds-second-drill--commences-drilling-at-black-bay-uranium-project-saskatchewan-302898041.html\n\nSOURCE Xcite Uranium Inc.\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS2002113/Xcite-Uranium-Inc-Xcite-Uranium-Adds-Second-Drill-Commences-D.jpg?id=OA2986455\nhttps://mmx.prnewswire.com/media/MS2002112/Xcite-Uranium-Inc-Xcite-Uranium-Adds-Second-Drill-Commences-D.jpg?id=OA2986454\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-10-05T08:00:00.298889235Z","server_sent_at_ms":1791187200298},"received_at":"2026-10-05T08:00:00.405Z","source_url":null},"analysis":{"id":"148646","press_release_id":"160067","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["all mineralization figures are historical and unverified by a Qualified Person","grab samples are selective and not representative of property-scale mineralization"],"eventType":"operations_update","narrative":"Xcite Uranium has commenced a 1300m, 6-hole diamond drilling program at the past-producing Black Bay uranium mine in Saskatchewan, adding a second drill rig to accelerate completion.\n\nThe approved 2026 budget is approximately $1.1 million, with $125,000 of fieldwork already completed and $975,000 allocated to drilling; all work is managed by TerraLogic Exploration.\n\nHistoric results cited include high-grade grab samples up to 16.74% U3O8, but management cautions these historical results are unverified by a Qualified Person, and no new assays were reported in this release.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Micro-cap junior starts drilling at past-producing Black Bay project; watch for assay results, not the start announcement."},"keyFigures":{"customDimensions":{"number_of_holes":6,"project_area_ha":1114,"approved_budget_usd":1100000,"drilling_budget_usd":975000,"fieldwork_budget_usd":125000,"drill_program_length_m":1300}},"namedEntities":{"people":[{"name":"Jean-Francois Meilleur","role":"CEO"},{"name":"C.C. Downie","role":"Qualified Person, director and officer of Eagle Plains"},{"name":"Lorne M. Warner","role":"independent Qualified Person"}],"products":["Black Bay Uranium Project"],"companies":[{"name":"Xcite Uranium Inc.","ticker":"XRI","relationship":"filer"},{"name":"TerraLogic Exploration Inc.","relationship":"exploration program manager"},{"name":"Base Diamond Drilling","relationship":"drill contractor"},{"name":"Condor Consulting","relationship":"geophysical consultant"},{"name":"Eagle Plains","relationship":"partner/joint agreement holder"},{"name":"Ya'thi Néné Lands and Resource Office (YNLR)","relationship":"First Nations exploration agreement counterparty"}],"dollarAmounts":[{"amount":"$1.1 million","context":"approved 2026 Black Bay budget"},{"amount":"$125,000","context":"completed fieldwork budget"},{"amount":"$975,000","context":"drilling allocation"}]},"materialImpact":{"score":2,"reasoning":"Commencement of a modest 1300m, 6-hole drill program with a ~$1.1M approved budget at a past-producing uranium project. Early-stage exploration with no new assay results; routine milestone for a micro-cap junior."},"tickerRelevance":{"others":[],"primary":"XRI"},"globalImportance":8,"audienceRelevance":8,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"exploration drill program start","commodityTailwind":"uranium sector interest","newResultsDisclosed":false}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Xcite Uranium has commenced a 1300m, 6-hole diamond drilling program at the past-producing Black Bay uranium mine in Saskatchewan, adding a second drill rig to accelerate completion.\n\nThe approved 2026 budget is approximately $1.1 million, with $125,000 of fieldwork already completed and $975,000 allocated to drilling; all work is managed by TerraLogic Exploration.\n\nHistoric results cited include high-grade grab samples up to 16.74% U3O8, but management cautions these historical results are unverified by a Qualified Person, and no new assays were reported in this release.","key_figures":{"customDimensions":{"number_of_holes":6,"project_area_ha":1114,"approved_budget_usd":1100000,"drilling_budget_usd":975000,"fieldwork_budget_usd":125000,"drill_program_length_m":1300}},"named_entities":{"people":[{"name":"Jean-Francois Meilleur","role":"CEO"},{"name":"C.C. Downie","role":"Qualified Person, director and officer of Eagle Plains"},{"name":"Lorne M. Warner","role":"independent Qualified Person"}],"products":["Black Bay Uranium Project"],"companies":[{"name":"Xcite Uranium Inc.","ticker":"XRI","relationship":"filer"},{"name":"TerraLogic Exploration Inc.","relationship":"exploration program manager"},{"name":"Base Diamond Drilling","relationship":"drill contractor"},{"name":"Condor Consulting","relationship":"geophysical consultant"},{"name":"Eagle Plains","relationship":"partner/joint agreement holder"},{"name":"Ya'thi Néné Lands and Resource Office (YNLR)","relationship":"First Nations exploration agreement counterparty"}],"dollarAmounts":[{"amount":"$1.1 million","context":"approved 2026 Black Bay budget"},{"amount":"$125,000","context":"completed fieldwork budget"},{"amount":"$975,000","context":"drilling allocation"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-05T08:00:07.221Z","global_importance":8,"audience_relevance":8,"importance_components":{"tickerTier":"micro-cap","eventGravity":"exploration drill program start","commodityTailwind":"uranium sector interest","newResultsDisclosed":false}},"durationMs":6777,"modelName":"glm-5.3-flashx"}}