Eagle Plains Resources partner Xcite Uranium Inc. has commenced a 1,500-metre, 14-hole diamond drilling program at the 100% owned Don Lake uranium project near Uranium City, Saskatchewan.

The drill program is designed to test for structurally controlled uranium mineralization across the Don and Midas targets, focusing on the intersections of northeast- and northwest-trending structures and historical trench areas. The approved 2026 budget for Don Lake totals approximately $1.1 million, which consists of $200,000 allocated for completed fieldwork and $900,000 earmarked specifically for the drilling campaign.

Under option agreements established in December 2023, Eagle Plains granted Xcite the exclusive right to earn up to an 80% interest in six Uranium City projects, including Don Lake, in exchange for aggregate exploration expenditures of $19.2 million, 4,500,000 common shares, and $330,000 in cash. All work on the property is managed by TerraLogic Exploration Inc.

Projects in the Uranium City area are covered by a formal Exploration Agreement between Eagle Plains and the Ya'thi Néné Lands and Resource Office, representing local Athabasca Denesułiné First Nations and northern communities.

"The last significant boots on the ground fieldwork at the Don Lake property was almost fifty years ago" commented Chuck Downie, President and CEO of Eagle Plains Resources . "For context, as we read about groundbreaking at the NexGen Rook Project, 50 years ago the only significant uranium discovery on the west side of the Athabasca Basin was the Cluff Lake mine. The long history of exploration and historic mining in the Beaverlodge Camp, combined with the current uranium price and forecasts for future uranium consumption, are perfect catalysts to refocus on new, near surface discoveries on the north side of the basin."

Read the full announcement: Eagle Plains' Partner Xcite Uranium Inc. Commences Drill Program at the Don Lake Uranium Project, Saskatchewan