Eagle Plains' Partner Xcite Uranium Receives Permits and Commences Fieldwork at the Uranium City Project, Saskatchewan
Rhea-AI Summary
Eagle Plains (OTCQB:EGPLF) announced that partner Xcite Uranium has approved the 2026 exploration plan and started fieldwork at the Uranium City projects in Saskatchewan.
The program, operated by Eagle Plains with a $1.6M budget, is fully permitted and targets drill definition for fall 2026.
AI-generated analysis. Not financial advice.
Positive
- Xcite may earn up to 80% interest in six Uranium City projects
- Approved 2026 Uranium City exploration budget of $1.6M
- All Uranium City projects now fully permitted for exploration and drilling
- Program includes 54 SMDI occurrences and five past-producing uranium mines
- First fieldwork on these Uranium City assets since Eagle Plains acquired them
Negative
- None.
News Market Reaction – EGPLF
On the day this news was published, EGPLF gained 0.54%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
CRANBROOK, BC / ACCESS Newswire / June 15, 2026 / Eagle Plains Resources Ltd. (TSX-V:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") is pleased to announce that partner Xcite Uranium Inc. (TSX-V:XRI) ("XRI or Xcite"), has approved the 2026 exploration plan and mobilized exploration crews to commence fieldwork at Eagle Plains' Uranium City Projects (the "Uranium City Projects"), northern Saskatchewan.
In December 2023 Eagle Plains granted Xcite the exclusive right to earn up to an
Uranium City Projects 2026 Exploration Program
The 2026 field program will mark the first fieldwork carried out on the Uranium City projects since they were acquired by Eagle Plains. The focus of the program will be to identify targets for fall 2026 diamond drilling and will be a combination of ground based field surveys and airborne and ground geophysics. Ground surveys will include geological mapping/prospecting, scintillometer surveys, and soil geochemical surveys. This will be augmented with Lidar/photogrammetric and detailed magnetic drone surveys that will be used to guide field crews in near real time to locate historical workings and structures of interest. RadonEx has been contracted to carry out soil and water radon surveys over strategic structures identified from the recent EM and magnetic surveys, especially in areas of lower relief. Results from this survey will help prioritize detailed drill targets along geophysical lineaments of interest.
Geophysical surveys will include airborne radiometrics, which should be highly effective given the high level of bedrock exposure in the Uranium City area. Ground based gravity will be used in conjunction with the VTEM + magnetic results to prioritize drill sites along inferred fault systems. This survey type is commonly used in uranium exploration to indirectly locate hydrothermal alteration cells that may have contributed to the formation of uranium mineralization. The approved budget for the 2026 fieldwork is
Eagle Plains serves as operator for the project. The work will be completed by TerraLogic Exploration under the supervision of Jarrod Brown, MSc., VP TerraLogic, and will be based out of Uranium City.
Permit Update
Eagle Plains has received permits from the Saskatchewan Ministry of Environment for exploration activities on each of the Uranium City projects. Permitted work includes temporary work camps, diamond drilling, access trail clearing, field prospecting and geophysics with line cutting.
See Uranium City Projects map here
The Uranium City projects are included in a formal Exploration Agreement between Eagle Plains and the Ya'thi Néné Lands and Resource Office ("YNLR"), representing the Athabasca Denesułiné First Nations of Hatchet Lake, Black Lake, and Fond du Lac, the Northern Hamlet of Stony Rapids, and the Northern Settlements of Uranium City, Wollaston Lake and Camsell Portage.
About the Beaverlodge Uranium District
The Beaver River, Black Bay, Don Lake, Gulch, Lorado, and Smitty projects are located in the Beaverlodge District near Uranium City in the Lake Athabasca region of Saskatchewan. Occurrences of uranium mineralization are abundant in the Uranium City area and have been explored and documented since the 1940s. The Beaverlodge camp was the first uranium producer in Canada, with historic production of approximately 70.25 million pounds of U3O8 between 1950-1982, from ore grades averaging
The Uranium City area projects have potential for both Beaverlodge-style and basement-hosted uranium mineralization. Key features about the projects include:
Outcropping, largely northeast-southwest-trending tectonic fabric;
Electromagnetic conductors that have been confirmed as graphite-rich pelites within or near major faults;
Anomalous uranium geochemistry and radioactivity associated with graphitic faults;
Compelling property-wide evidence for hydrothermal alteration;
Uranium mineralization with corresponding elevations in pathfinder elements.
These factors, along with the presence of a substantial uranium endowment in both basement rocks and Athabasca basin cover rocks, indicate excellent potential for economic uranium mineralization within the project. The mineralization, structures and alteration identified on the claims to date are strong indicators of the possibility of a nearby source for the uranium mineralization.
The above results were taken directly from the SMDI descriptions and assessment reports) filed with the Saskatchewan government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work on the subject properties. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties.
Qualified Persons
Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.
The Company was formed in 1992 and is the fourth-oldest listed issuer on the TSX-V (and the only one of these four that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over
On October 2, 2024, Eagle Plains announced the formation of a separate division within the Company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. ("OP") will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on Western Canada.
Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.
Expenditures from 2010-2025 on Eagle Plains-related projects exceed
Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors of Eagle Plains
"C.C. (Chuck) Downie, P.Geo"
President and CEO
For further information on EPL, please contact Andrew Wilson at 1 866 HUNT ORE (486 8673)
Email: abw@eagleplains.com or visit our website at https://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
View the original press release on ACCESS Newswire