Xcite Resources Inc. entered into an agreement to acquired 100% interest in Turgeon Lake Project Claims from Bullion Gold Resources Corp. for approximately CAD 0.07 million on April 12, 2023. Xcite will acquire the Property from Bullion Gold by making a cash payment of CAD 0.02 million and by issuing 0.6 million common shares of Xcite each a Share at price of CAD0.08625 per Share to Bullion on closing of the transaction, representing an aggregate purchase price of CAD 0.071750 million. Bullion Gold Resources Corp. currently has 52.408188 million shares issued and outstanding, along with 4.9 million options and 12.7 million warrants. Transaction Closing is subject to receipt of all necessary regulatory approvals.

Xcite Resources Inc. completed the acquisition of an 100% interest in Turgeon Lake Project Claims from Bullion Gold Resources Corp. on April 21, 2023.