Mr. Jean-Francois Meilleur reports

XCITE TO ISSUE SHARES TO SETTLE DEBT

Pursuant to a debt settlement agreement dated as of April 7, 2026, Xcite Uranium Inc. will issue an aggregate of 262,500 common shares at a price of 16 cents per share to an arm's-length creditor to settle $42,000 of debt for services previously provided by the creditor to the company. When issued, the shares will be subject to a four-month hold period in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.

About Xcite Uranium Inc.

Xcite Uranium 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.

We seek Safe Harbor.