ATHA Energy Discovers High-Grade Athabasca-Style Uranium at RIB East Discovery

• ATHA Energy has announced its second new uranium discovery at the RIB East target, demonstrating the systematic success of its exploration strategy across the 31-kilometer mineral corridor at the Angilak Project.
• The discovery features high-grade uranium mineralization within graphite-rich rock structures that are analogous to settings found in major Athabasca Basin deposits and producing mines, indicating strong potential for economic development.
• Three drill holes intersected shallow uranium mineralization at depths less than 275 meters, with the highest-grade intersection recording maximum radioactivity of 30,730 counts per second over a continuous 1.0-meter interval.
• The RIB East target area spans a 2-kilometer long by 500-meter wide geophysical anomaly, with current drilling testing only 400 meters of this extensive target, suggesting significant expansion potential along the mineralized trend.
• ATHA maintains 100% ownership of the Angilak Uranium Project and has identified multiple additional high-priority targets including RIB West, providing a robust pipeline of near-term exploration catalysts and continued discovery potential.

ATHA Energy is a Canadian mineral exploration and development company strategically positioned at the forefront of uranium exploration in some of the world's most prolific uranium-bearing regions. The company maintains a diversified portfolio of high-quality uranium assets, including three 100%-owned post-discovery uranium projects: the Angilak Project in Nunavut, CMB Discoveries in Labrador, and the recently discovered basement-hosted GMZ high-grade uranium discovery in the Athabasca Basin. With the largest cumulative prospective exploration land package exceeding 7 million acres across two of the world's most prominent uranium discovery basins, ATHA is uniquely positioned to drive significant value in the uranium sector. The company also holds a 10% carried interest in key Athabasca Basin exploration projects operated by industry leaders NexGen Energy and IsoEnergy, further strengthening its strategic position in Canada's premier uranium regions.

Discovery Overview & Geological Significance

The RIB East Discovery represents a significant milestone in ATHA Energy's exploration strategy, marking the second major uranium discovery during the 2025 Angilak Exploration Program. This achievement underscores the company's systematic approach to targeting high-potential areas within the underexplored Angikuni Basin. The discovery's location along the extensive 31-kilometer RIB-Nine Iron structural corridor positions it within a highly prospective geological trend that continues to yield promising results.

The geological characteristics of the RIB East Discovery are particularly noteworthy due to their similarity to world-class Athabasca Basin deposits. The presence of uranium mineralization hosted within graphitic structures mirrors the geological controls found in major producing mines and advanced deposits throughout the Athabasca Basin. This geological analogy provides significant confidence in the discovery's potential for hosting substantial uranium resources, as graphitic shear zones have proven to be highly effective structural controls for high-grade uranium mineralization in Saskatchewan's premier uranium district.

Drilling Results & Technical Achievements

The initial three-hole drilling program at RIB East has delivered exceptional results that exceed expectations for an early-stage discovery. RIBE-DD-002 emerged as the standout performer, intersecting shallow high-grade uranium mineralization alongside numerous lower-grade mineralized zones throughout the hole. The drill hole achieved a total composite mineralization of 9.4 meters, including a particularly impressive continuous shallow zone between 210.9 and 212.5 meters depth. Within this zone, a 0.3-meter interval recorded maximum radioactivity readings of 16,947 CPS, demonstrating the high-grade nature of the mineralization.

RIBE-DD-003 further validated the discovery's potential by intersecting 2.1 meters of total composite mineralization, with continuous shallow mineralization over a 1.5-meter interval from 276 to 277.5 meters depth. The most significant aspect of this intersection was the presence of continuous high-grade mineralization exceeding 10,000 CPS over a full meter, with peak radioactivity reaching an exceptional 30,730 CPS. This drill hole was strategically positioned 200 meters along strike from RIBE-DD-002 and 150 meters further into the hanging wall of an interpreted northwest-trending fault zone, successfully demonstrating the lateral continuity of the mineralization.

The third hole, RIBE-DD-001, intersected six distinct zones of uranium mineralization totaling 5.9 meters of composite mineralization, establishing the foundation for understanding the discovery's geological framework. The systematic success of all three holes in intersecting uranium mineralization provides strong evidence for the robustness of ATHA's targeting methodology and the geological model guiding the exploration program.

Advanced Targeting & Survey Success

The success at RIB East can be directly attributed to ATHA Energy's sophisticated targeting approach, which integrates multiple geophysical techniques to identify high-priority drill targets. The May 2025 ground gravity and electromagnetic survey played a crucial role in defining the RIB East target, successfully identifying stacked gravity, electromagnetic, and structural anomalies that were subsequently tested by the drilling program. This integrated approach demonstrates the effectiveness of modern exploration techniques when applied systematically across large-scale structural trends.

The gravity survey results at RIB East defined a substantial 2-kilometer-long by 500-meter-wide gravity anomaly coincident with northeast to southwest trending conductors. This geophysical signature provided the exploration team with high confidence in the target's potential before drilling commenced. The successful intersection of uranium mineralization in all three drill holes validates the geophysical interpretation and provides a strong foundation for expanding the drilling program across the broader anomaly.

Beyond RIB East, the May 2025 survey also identified RIB West as another high-priority target area, highlighted by two large gravity anomalies. The first anomaly measures 900 meters long by 250 meters wide and coincides with a highly conductive structural corridor that hosts the historic RIB Discovery. The second, even larger anomaly extends 1.1 kilometers long by 300 meters wide, extending from the basin margin under cover, and remains untested by drilling, representing significant additional exploration upside.

Regional Context & District Potential

The RIB East Discovery's significance extends beyond its immediate drill results, as it contributes to the growing evidence that the Angikuni Basin represents an emerging uranium district with exceptional discovery potential. The identification of two major discoveries, KU Discovery and RIB East, during the early stages of regional exploration along the RIB-Nine Iron Trend suggests that the area hosts a robust and extensive mineralizing system capable of supporting multiple uranium deposits.

The 31-kilometer extent of the RIB-Nine Iron Trend provides substantial exploration runway for ATHA Energy's continued discovery efforts. The structural corridor's scale and the systematic occurrence of uranium mineralization at multiple targets along its length indicate that the company is exploring within a district-scale system rather than isolated, standalone deposits. This district-scale potential significantly enhances the long-term value proposition for ATHA Energy's Angilak Project and positions the company to potentially define multiple uranium resources within a single, coherent geological system.

The Angikuni Basin's geological setting shares important characteristics with other world-class uranium districts, including the presence of favorable structural corridors, appropriate host rock sequences, and evidence for extensive hydrothermal fluid flow. The basin's relative underexploration compared to more established uranium districts represents both an opportunity and a validation of ATHA Energy's strategic focus on identifying high-potential areas before they become widely recognized by the broader exploration community.

Management Commentary & Strategic Vision

CEO Troy Boisjoli's commentary on the RIB East Discovery emphasizes the strategic importance of this achievement within ATHA Energy's broader exploration program and long-term vision. His remarks highlight the company's systematic approach to exploration and the technical team's proven ability to execute successful discovery programs. The emphasis on the high-grade mineralization hosted within graphitic structures underscores the geological significance of the discovery and its potential comparability to major Athabasca Basin deposits.

Boisjoli's observation that the early drilling has covered only 400 meters of a 2-kilometer-long anomaly provides important context for the discovery's expansion potential. This perspective suggests that the current results, while impressive, may represent only the initial phase of what could develop into a much larger mineralized system. The CEO's characterization of the Angikuni Basin as underexplored and hosting a robust mineralizing system positions ATHA Energy as a leader in recognizing and developing this emerging uranium district.

VP Exploration Cliff Revering's technical perspective reinforces the effectiveness of ATHA's targeting strategy and provides professional validation of the geological approach being employed at the Angilak Project. His confidence in the view that the Angikuni Basin represents an emerging uranium district carries significant weight given his technical expertise and direct involvement in the exploration program's execution.

Exploration Program Continuation & Future Targets

The 2025 Angilak Exploration Program represents a comprehensive 10,000-meter diamond drilling campaign designed to advance multiple objectives across the project area. Beyond the successful RIB East Discovery, the program continues to focus on expanding the mineralized footprint at the established Lac 50 Deposit while systematically testing additional regional targets along the extensive RIB-Nine Iron Trend. This dual approach of resource expansion and new discovery pursuit maximizes the program's potential for delivering value-accretive results.

The systematic success achieved at both the KU Discovery and RIB East Discovery provides strong validation for continuing the regional exploration approach across other priority targets identified by the comprehensive geophysical surveys. The numerous prospective targets defined along the RIB-Nine Iron Trend offer multiple opportunities for additional discoveries, each with the potential to contribute to a district-scale uranium resource base.

The technical team's proven ability to successfully execute discovery drilling programs provides confidence in their capacity to advance the remaining high-priority targets efficiently and effectively. The integration of advanced geophysical targeting with systematic drilling approaches has demonstrated its effectiveness and will likely continue to guide the program's evolution as additional results become available.

Quality Assurance & Technical Standards

ATHA Energy maintains rigorous quality assurance and quality control protocols throughout its exploration programs, ensuring that all results meet the highest technical standards required for resource evaluation and development planning. Core samples from the drilling program are submitted to the Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon, a facility that maintains ISO/IEC 17025:2005 accreditation from the Standards Council of Canada. This accreditation provides independent verification of the laboratory's technical competence and quality management systems.

The analytical procedures employed include multi-element suite analysis using partial and total digestion inductively coupled plasma methods, boron analysis by Na2O2 fusion, and uranium analysis by fluorimetry. These comprehensive analytical protocols ensure accurate and reliable results that can support future resource estimation and development planning activities.

The radiometric surveying utilizes a Mount Sopris 40TGU-1000 Triple Gamma Geiger down hole probe, with total gamma results selected using an average cutoff of 500 CPS over intervals of 0.1-meter width. All reported drill intercepts represent core width, with true thickness determinations to be completed as part of ongoing geological interpretation and modeling efforts.

Market Position & Strategic Advantages

ATHA Energy's success at RIB East strengthens the company's position within the uranium exploration sector and validates its strategic focus on high-potential, underexplored regions. The discovery adds to the company's growing portfolio of uranium assets and reinforces its reputation for successful exploration and discovery. The technical achievements demonstrated through the systematic targeting and successful drilling program showcase the company's exploration capabilities and provide confidence in its ability to advance additional targets effectively.

The company's diversified portfolio approach, spanning multiple projects across different geological settings, provides risk mitigation while maximizing exposure to discovery potential. The combination of post-discovery projects requiring resource expansion with early-stage exploration targets offering blue-sky discovery potential creates a balanced risk-reward profile that appeals to investors seeking uranium sector exposure.

ATHA Energy's strategic partnerships, including carried interests in projects operated by established uranium developers NexGen Energy and IsoEnergy, provide additional value through exposure to advanced-stage development activities in proven uranium districts. These relationships complement the company's direct exploration activities and provide multiple pathways for value creation across different stages of the uranium development cycle.

Conclusion & Investment Implications

ATHA Energy's announcement of the RIB East Discovery represents a significant milestone that validates the company's exploration strategy and reinforces the exceptional potential of the Angilak Project within the emerging Angikuni Basin uranium district. The technical success achieved through systematic targeting and disciplined execution demonstrates management's ability to deliver value-accretive exploration results in a challenging and competitive sector. For investors, the discovery provides compelling evidence of ATHA Energy's capacity to identify and develop high-quality uranium assets in world-class geological settings.

The discovery's key attributes - high-grade mineralization, Athabasca-style geological controls, shallow depth, and significant expansion potential—position it as a potentially significant addition to Canada's uranium resource base. The systematic success along the 31-kilometer RIB-Nine Iron Trend suggests that ATHA Energy is developing a district-scale asset with multiple discovery opportunities still to be tested. Combined with the company's diversified portfolio and strategic partnerships, the RIB East Discovery strengthens ATHA Energy's position as a leading uranium exploration company with exceptional growth potential in one of the world's most prospective uranium regions. The successful intersection of high-grade uranium mineralization in all initial drill holes, the geological similarity to world-class Athabasca Basin deposits, and the substantial untested geophysical anomalies collectively suggest that RIB East may represent the early stages of a major uranium discovery that could significantly enhance ATHA Energy's asset base and market position.