CRANBROOK, BC / ACCESS Newswire / June 25, 2026 / Eagle Plains Resources Ltd. (TSX-V: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 from a 2025 VTEM Plus airborne geophysical survey carried out by Geotech Airborne Geophysical Surveys that covered the Don Lake (1671ha), and Smitty (2384ha) uranium projects. 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.
The Calculated Vertical Gradient (CVG) (Figure 1) shows both magnetic high and low features aligned parallel to the regional Black Bay Fault, one of the main controlling structures for uranium mineralization in the Beaverlodge camp. At Don Lake, there is a pronounced high electromagnetic (EM) conductivity feature (Figure 2) associated with the Zone A, Zone B and Hawker Trench uranium occurrences, which also lie along a mag high and mag low break. At the Smitty project, the historic Smitty mine is associated with an EM conductor high. An additional high conductivity feature located in the western part of the property is also prospective and will be evaluated during the summer 2026 field program.
The 2025 VTEM Plus airborne geophysical survey covered the six uranium projects and the survey data was merged with publicly available geophysical data collected by previous operators.
The Don Lake and Smitty uranium projects are located near Uranium City, Saskatchewan, and host near surface uranium mineralization as well as past producing uranium mines. In 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. The projects are prospective for Beaverlodge style, basement hosted and unconformity hosted uranium mineralization.
Figure 1. Magnetics - Don Lake & Smitty Compilation Geophysics Map
Figure 2. Conductivity - Don Lake & Smitty Compilation Geophysics Map
Project Highlights
Don Lake
Twelve SMDI uranium occurrences
Historical drilling at A Zone returned values of 10.7% U3O8 over 0.3m and 2.14% U3O8 over 0.67m
Trench samples up to 1.17% U3O8 over 1.98m