Eagle Plains Resources Ltd. has offered to Xcite Resources Inc. and Xcite has accepted, two dispositions recently acquired by staking in the Uranium City area, northern Saskatchewan. The two dispositions fall within an Area of Mutual Interest and as such, will become included in the Gulch and Larado projects respectively. The Larado project has been increased by 398 ha (643 ha total) and Gulch has increased by 311 ha (1996 ha total).

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. The six projects comprising the Xcite option agreements cover 26 Saskatchewan Mineral Deposit Index (SMDI) occurrences and four past-producing uranium mines. Under the terms of the option agreements, Xcite may earn an 80% interest in each individual property by completing CAD 3,200,000 in exploration expenditures, issuing 750,000 common shares of Xcite and making cash payments to Eagle Plains of CAD 55,000 over four years, for an aggregate of CAD 19,200,000 in exploration expenditures, 4,500,000 shares and $330,000 in cash to Eagle Plains.

Upon Xcite fulfilling the terms of any or all of the earn-in agreements, an 80/20 joint venture will be formed, with Eagle Plains retaining a carried interest in all expenditures until delivery by Xcite or its assigns of a bankable feasibility study. During the option earn in period, XRI will be appointed as operator, and EPL will manage the exploration programs under the direction of a joint technical committee. The projects are owned 100% by EPL, which will retain an underlying 2% NSR royalty on the each of the properties.