ATHA Energy Board Update & Debenture Interest Settled in Shares

ATHA Energy Corp. announced that Richard Pearce has resigned from the Company's Board of Directors, effective August 31, 2026, with Erinn Broshko and Suraj Ahuja taking over his committee roles. Separately, ATHA issued 340,136 common shares to Queen's Road Capital Investment Ltd. (QRC) as payment for US$249,999.96 in interest owing on its US$25,000,000 convertible debenture.

Company Overview

ATHA Energy Corp. (TSXV: SASK | FRA: X5U | OTCQX: SASKF) is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. The Company holds a strategically balanced portfolio, including 3 100%-owned post-discovery uranium projects: the Angilak Project in Nunavut, CMB Discoveries in Labrador, and the newly discovered basement-hosted GMZ high-grade uranium discovery in the Athabasca Basin. ATHA also holds the largest cumulative prospective exploration land package, approximately 6.8 million acres, across 2 of the world's most prominent basins for uranium discoveries. The Company also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd.

Board & Committee Changes

Erinn Broshko has been appointed chair of the Compensation Committee, and Suraj Ahuja has been appointed a member of the Nominating and Corporate Governance Committee, in each case replacing Richard Pearce, who resigned from ATHA's Board of Directors effective August 31, 2026, to pursue other professional endeavors. Pearce joined the board in April 2024 in connection with the Company's transaction with 92 Energy Ltd. (92E).

Chief Executive Officer and Director of ATHA Energy, Troy Boisjoli, thanked Pearce for his contribution: 

"We thank Richard for his contribution to ATHA Energy. He was a critical part in ATHA's 2024 transactions with Latitude Uranium and 92E, helping ATHA transform into one of the most successful uranium exploration Companies globally. On behalf of the board and management, we wish him future success on Powerhaus Uranium."

Debenture Interest Settled in Shares

Further to its press release dated July 31, 2026, ATHA has issued 340,136 common shares at a deemed price of US$0.735 (C$1.03) to Road Capital Investment Ltd. (QRC) as payment for US$249,999.96 (C$350,349.94) in interest owing under the US$25,000,000, 12% convertible debenture issued to QRC on February 5, 2026. The conversion pricing was based on the July 30, 2026 exchange rate.