Eagle Plains and Xcite Define Prospective Geophysical Trends at Beaver River Uranium Project, SK

About this update from Eagle Plains Resources Ltd.

CRANBROOK, BC / ACCESS Newswire / June 3, 2026 / Eagle Plains Resources Ltd. (TSXV: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 for its 4502 ha Beaver River Uranium Project. Strong correlations exist between areas of known uranium mineralization at the VIC and COMBINED zones with trends of anomalous conductivity (Figure 1). The Calculated Vertical Gradient (CVG) of the magnetic data, collected simultaneously with the VTEM, also shows strong trends in proximity to known mineralization possibly indicative of a favorable structural environment (Figure 2). 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. Beaver River was one of six projects covered by a 2025 VTEM Plus airborne geophysical survey carried out by Geotech Airborne Geophysical Surveys. The fall survey was merged with publicly available VTEM data collected by previous operators. Since data collection was completed, the Beaver River project has been expanded by over 3,000 hectares. Figure 1. Conductivity - Beaver River Geophysics Map Figure 2. Magnetics - Beaver River Geophysics Map Beaver River Highlights The Beaver River uranium project, located 40km SE of Uranium City, Saskatchewan, hosts near surface high grade uranium mineralization. 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. See Uranium City Projects map here The Uranium City projects are included in a formal Exploration Agreement between Eagle Plains and the Ya'thi Néné Lands and Resource Office ("YNLR"), representing the Athabasca Denesułiné First Nations of Hatchet Lake, Black Lake, and Fond du Lac, the Northern Hamlet of Stony Rapids, and the Northern Settlements of Uranium City, Wollaston Lake and Camsell Portage. About the Beaver River Project The 4502.4ha project overlies 5 Saskatchewan Mineral Depos...

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