Xcite Uranium Inc. has commenced a 1,200-metre, three-hole diamond drilling program at Eagle Plains Resources Ltd.’s 100% owned Lorado Uranium Project in northern Saskatchewan, targeting structurally controlled Beaverlodge-type and basement-hosted unconformity-style mineralization.

The drilling program forms part of an approved 2026 project budget of approximately $1.1 million, which covers $225,000 in completed fieldwork and $875,000 dedicated to the current drilling campaign. Fieldwork completed earlier this year included prospecting, rock and soil geochemical sampling, structural mapping, radon sampling, and airborne radiometric and magnetic surveys.

Eagle Plains acquired the Lorado project in late 2023 before granting Xcite Uranium an exclusive earn-in option in December 2023 alongside a package of six Saskatchewan uranium properties. Under the terms of the option agreements across the six projects, Xcite Uranium must fund cumulative exploration expenditures of $19.2 million, issue 4,500,000 common shares, and make cash payments of $330,000 to Eagle Plains over four years.

The current three-hole program is being managed by TerraLogic Exploration Inc., with Apex Drilling supplying contractor crews based out of Uranium City.

The active exploration builds on regional activity across the Athabasca Basin, where NexGen Energy Ltd. reported drilling results at its Northwest Athabasca project earlier in the year, expanding the vertical extent of its high-grade subdomain by 17% to 644 metres.

Read the full announcement: Eagle Plains' Partner Xcite Uranium Commences Drill Program at the Lorado Uranium Project, Saskatchewan