ATHA Energy Starts Major 2025 Drilling Campaign for Angilak Project

• ATHA Energy has commenced a 10,000-meter diamond drilling program at its Angilak Uranium Project in Nunavut, building on its successful 2024 campaign that achieved a 100% hit rate for uranium mineralization intersections.
• Ground geophysics surveys completed in May 2025 identified large gravity anomalies along the 31-kilometer Rib-Nine Iron Trend, including high-priority targets at the KU Discovery and Rib Discovery areas.
• The company's 2024 exploration program intersected uranium grades up to 5.85% U₃O₈ over 0.5 meters, validating the grade profile of the Exploration Target at the Lac 50 Deposit.
• Historical surface sampling at the KU Discovery has returned grades up to 30.7% U₃O₈, while the Rib Discovery has shown grades up to 5.6% U₃O₈ in shallow drilling by previous operators.
• ATHA maintains a strategic portfolio including three 100%-owned uranium projects and holds the largest exploration land package in two of the world's most prominent uranium basins, totaling over 7 million acres.

ATHA Energy (TSXV:SASK) is a Canadian mineral company focused on uranium asset acquisition, exploration, and development. The company maintains a strategically balanced portfolio including three 100%-owned post-discovery uranium projects: the Angilak Project in Nunavut, CMB Discoveries in Labrador, and the GMZ high-grade uranium discovery in the Athabasca Basin.

ATHA holds the largest cumulative prospective exploration land package of over 7 million acres across two of the world's most prominent uranium discovery basins, positioning the company to drive significant value in the clean energy transition. Additionally, ATHA maintains a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy and IsoEnergy.

2025 Exploration Program Launch

ATHA Energy has initiated its 2025 Angilak exploration program following successful mobilization and completion of ground geophysics surveys. The program comprises approximately 10,000 meters of diamond drilling focused on two primary objectives: expanding the Lac 50 Deposit footprint and testing regional targets along the Rib-Nine Iron Trend.

In the news release, CEO Troy Boisjoli emphasized the program's significance, stating:

"Our 2025 drill program represents the next major step in advancing the Angilak Project into, in our view, one of the most exciting uranium projects globally. Building on the success of last year's campaign where we hit mineralization in 100% of our drill holes, we're now positioned to test some of the most exciting targets identified to date."

The exploration strategy builds directly on the company's 2024 maiden drilling campaign, which completed 25 diamond drill holes totaling approximately 10,051 meters. The 2024 program achieved a 100% success rate for uranium mineralization intersections, with assay results highlighting grades up to 5.85% U₃O₈ over 0.5 meters.

Ground Geophysics Results

ATHA completed ground gravity and electromagnetic surveys in May 2025, targeting priority areas along the 31-kilometer Rib-Nine Iron Trend. The surveys focused on two high-priority target areas representing approximately 5% of the currently identified trend.

At the KU Discovery, located within the Angikuni Basin along the northern margin, the survey identified a large gravity anomaly measuring 2 kilometers long by 500 meters wide. This anomaly coincides with a conductive corridor and numerous cross-cutting structures where historical trench sampling has returned grades up to 30.7% U₃O₈. The KU Discovery remains untested with diamond drilling.

The Rib Discovery, positioned along the western margin of the Angikuni Basin, showed two distinct surveyed areas. Rib East revealed a large gravity anomaly measuring 2 kilometers long by 500 meters wide, coincident with a northeast-to-southwest conductive trend. Rib West highlighted two large gravity anomalies: the first measuring 900 meters long by 250 meters wide, coincident with a highly conductive corridor hosting the historic Rib Discovery, and the second extending 1.1 kilometers long by 300 meters wide under the Angikuni Basin cover.

VP Exploration Cliff Revering noted the geological significance:

"The stacked structural, geochemical and geophysical signatures recently defined in the Rib & KU target areas (located within the Rib-Nine Iron corridor), suggest significant potential for discovery of high-grade unconformity-style uranium mineralization within the Angikuni Basin."

Historical Context & Validation

The Angilak Project benefits from substantial historical exploration data that validates current targeting strategies. Previous operators completed extensive drilling programs between 1977 and 1979, with Noranda Exploration Company completing 30 diamond drill holes at the Rib Discovery. These efforts intersected Athabasca Basin unconformity-style alteration and shallow uranium mineralization with grades up to 5.6% U₃O₈.

At the Mushroom Lake zone, extensive bedrock outcrop with radioactivity exceeding 60,000 counts per second has been identified over a 3-kilometer strike length. This corresponds to historic outcrop samples returning grades up to 47.8% U₃O₈. The discovery is strategically located between the Mushroom Lake zone on the Lac 52 trend and the Hot zone on the Lac 54 trend, remaining untested by drilling.

The Nine-Iron showing has recorded historical diamond drill intersections of shallow uranium mineralization with grades up to 1.25% U₃O₈ and historical outcrops with grades up to 30.3% U₃O₈.

Regional Potential

SRK Consulting completed a comprehensive regional structural interpretation and targeting assessment, identifying major primary and secondary structural controls that serve as conduits and traps for uranium mineralization. This analysis encompasses the overall plumbing system for high-grade mineralized discoveries across the Angilak Project, including the Lac 50 Deposit.

The Rib-Nine Iron Trend extends for an interpreted 31 kilometers under the cover of the Angikuni Basin, representing a direct analog to the Athabasca Basin. The trend transects the Angikuni Basin, extending under cover with numerous structural targets identified along its length.

Revering highlighted the regional implications:

"Through extensive data compilation, new data collection and analysis, and interpretation of the regional scale basin architecture and structural controls on mineralization, we believe the Angilak Project has district scale potential to host multiple high-grade uranium deposits."

Investment Outlook

ATHA's exploration activities occur within a favorable uranium market environment, with the company positioned to capitalize on growing clean energy demand. The Angilak Project's location within the Angikuni Basin, approximately 225 kilometers southwest of Baker Lake in the Kivalliq Region of Nunavut, provides access to established infrastructure while exploring an underexplored analog to the prolific Athabasca Basin.

The company's systematic approach to exploration, combining modern geophysics with historical data interpretation, demonstrates a methodical strategy for target generation and risk reduction. The density lows corresponding to gravity anomalies, combined with conductive response intensity and volumes, align with alteration characteristics associated with high-grade basement and unconformity-style uranium mineralization.

Key Takeaway

ATHA Energy presents a compelling uranium exploration opportunity with its systematic approach to developing the Angilak Project. The company's 100% success rate in 2024 drilling, combined with substantial historical validation and modern geophysical targeting, positions ATHA to potentially unlock significant uranium resources within the Angikuni Basin. The upcoming 10,000-meter drilling program represents a critical catalyst for advancing multiple high-priority targets while expanding the known mineralization footprint. For investors seeking exposure to uranium exploration with strong technical foundations and district-scale potential, ATHA Energy offers a strategic position in an underexplored region with proven mineralization and substantial upside potential.