on Eagle Plains Resources Ltd. (CVE:EPL)
Eagle Plains and Xcite Adjust Uranium City Agreements
Eagle Plains Resources Ltd. and Xcite Resources Inc. have amended six agreements related to Xcite's uranium portfolio in Athabasca. This change delays a total of $60,000 in cash payments and $300,000 in work commitments from December 31, 2024, to September 30, 2025. In consideration, Xcite will issue 150,000 common shares to Eagle Plains, subject to a four-month hold period.
The projects are part of an Exploration Agreement with the Ya'thi Néné Lands and Resource Office, which includes the Athabasca Denesułiné First Nations. The area historically produced 70.25 million pounds of U3O8, with deposits hosted in Beaverlodge-style formations.
Eagle Plains notes that historical results aren't necessarily indicative of future outcomes on these properties, emphasizing cautious expectations.
R. H.
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