CRANBROOK, BC / ACCESS Newswire / February 19, 2026 / Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGPLF) has announced the acquisition of seven uranium dispositions in the Uranium City area of northern Saskatchewan, a move that has been met with acceptance from Xcite Resources Inc. (TSX-V:XRI). These new tenures are set to integrate into the Don Lake, Smitty, and Beaver River projects, enhancing the total claim area to 4,055 hectares for Don Lake - Smitty and 3,033 hectares for Beaver River.
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, which encompass forty occurrences documented in the Saskatchewan Mineral Deposit Index (SMDI) and include four past-producing uranium mines.
These Uranium City projects are part of a formal Exploration Agreement with the Ya'thi Néné Lands and Resource Office (YNLR), which represents the Athabasca Denesułiné First Nations and surrounding communities.
The new claims at Don Lake - Smitty cover 14 SMDI uranium occurrences, including the historically significant Beta Gamma mine, which features Beaverlodge-type mineralization characterized by high-grade structures found in veins and breccia-fills.
Historically, the Beta Gamma Mine was staked in 1948, revealing two mineralized zones. The No.1 Zone spanned approximately 244 meters, while the No.2 Zone extended 335 meters. Following various developments in the 1950s, the mine shipped significant amounts of mineralized material to the Lorado mill.
Further uranium occurrences, such as the Tobe Mines Uranium Occurrence and the West Uranium Showing, have demonstrated promise with notable historical grades of U3O8.
Eagle Plains is also pursuing Class 2 Exploration Permits for the Uranium City projects, enabling ground-based geophysics and diamond drilling activities. Recently, results from the 2025 Geotech Airborne Geophysical Surveys have been received, which will aid in refining drill targets.
As part of the option agreements, Xcite can earn an 80% interest in each property by fulfilling certain exploration expenditures and share issuances, leading to a joint venture agreement while Eagle Plains retains a carried interest until a bankable feasibility study is delivered.
Continuing its commitment to uranium exploration since 2006, Eagle Plains aims to advance its portfolio through strategic partnerships. Recently appointed Investor Relations Representative, Andrew Wilson, will play a crucial role in communicating these developments and managing shareholder engagement.
Wilson, who has a background in business development, will oversee key communications and ensure compliance with disclosure regulations. He holds a Bachelor of Arts in Political Science and previously served as General Manager of the Kimberley & District Chamber of Commerce.
Technical information in this release has been approved by C.C. Downie, P.Geo., a director of Eagle Plains, ensuring compliance with N.I. 43-101 standards.
Located in the Beaverlodge District, the Don Lake, Black Bay, and other projects have a rich history of uranium mineralization dating back to the 1940s, contributing to Canada's early uranium production.
Throughout its journey, Eagle Plains has consistently sought to deliver shareholder value and maintain strong community relationships while exploring resource opportunities across western Canada.
For more information, visit Eagle Plains or contact Mike Labach.