Xcite Resources Inc. (CSE: XRI) a Canadian uranium exploration company focused on advancing its portfolio of assets in the Athabasca Basin, is pleased to announce the closing of a second tranche of its previously announced non-brokered private placements. Under the second tranche, the Company raised gross proceeds of $1,030,200, comprising gross proceeds of $899,200 through the issuance of 7,493,334 units (each, a “Unit”) at a price of $0.12 per Unit and gross proceeds of $131,000 through the issuance of 818,750 flow-through common shares at a price of $0.16 per FT Share. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant, with each Warrant entitling the holder to acquire one Common Share at a price of $0.20 per Common Share at any time after December 7, 2025 and until that date which is 48 months following the date of issuance (October 8, 2029).

The net proceeds from the Offering will be used for exploration and development activities on the Company’s uranium projects located in the Athabasca Basin and for general corporate purposes. The proceeds from the issuance of the FT Shares will be used to incur eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” as defined in the Income Tax Act (Canada).

Under the second tranche, the Company paid finder’s fees of $73,136, issued 532,800 finder’s warrants, each exercisable for one Unit at a price of $0.12 per Unit until October 8, 2027, and 57,500 finder’s warrants, each exercisable for one Common Share at a price of $0.16 per share until October 8, 2027.

All securities issued under the Offering are subject to a statutory hold period of four months and one day from the date of issuance, expiring February 9, 2026, in accordance with National Instrument 45-102 – Resale of Securities.

The Company expects to close a third tranche of the Offering on or about October 20, 2025.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Xcite Resources Inc.

Xcite Resources is an early-stage exploration company working to become a leader in the discovery and development of energy transition metals. The uranium project portfolio in the Athabasca basin will propel the Company’s efforts to achieve a high-grade discovery based on new geological modelling and exploration thesis in a past-producing uranium camp dormant for 40 years. The Uranium City project portfolio constitutes the Don Lake, Beaver River, Smitty, Lorado, Gulch and Black Bay properties.