ATHA Energy Extends RIB North Uranium Continuity to 1.45 Kilometers on Seven New Holes

• ATHA Energy reported preliminary results from seven additional diamond drill holes at the RIB North Discovery on its 100%-owned Angilak Uranium Project in Nunavut, and all seven intersected uranium mineralization.
• Continuity of mineralization along the primary RIB North corridor now extends 1.45 kilometers, up from 300 meters, and the discovery remains open in all directions.
• The strongest hole intersected 20 meters of composite uranium mineralization across 15 zones, including 1.3 meters of high-grade mineralization.
• A second mineralized horizon on the western limb of the Mineralized RIB Corridor (MRC) has now been traced over approximately 220 meters of strike.
• The 2026 Angilak Exploration Program is the largest on the project to date, running three drills from May 1, 2026 through the end of September alongside a completed basin-scale geophysical survey.

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.

Seven New Holes Extend Strike Continuity to 1.45 Kilometers

ATHA Energy Corp. released preliminary diamond drilling results on September 8, 2026, covering seven additional holes at the RIB North Discovery, part of the ongoing 2026 Angilak Exploration Program. All seven intersected uranium mineralization. Combined with the 2025 program and the initial eight holes reported on July 9, 2026, results have now outlined 1.45 kilometers of mineralization continuity along the primary RIB North structural corridor, located on the eastern limb of the Mineralized RIB Corridor (MRC).

The drilling is deliberately built on widely spaced step-outs rather than close-spaced infill, a design intended to establish the outer extent of the mineralized footprint before spacing is tightened. The discovery remains open in all directions. 

Chief Executive Officer of ATHA Energy, Troy Boisjoli, framed the extension against the single hole that opened the target last year: 

"Progressing RIB North from a single discovery hole in 2025 and growing it to a strike length of 1.45 km in 2026 with 16 successful aggressive step-outs thus far is just a snapshot of the potential scale. When pairing those results with the Lac 50 Deposit Corridor, with the newest discovery at Lac 50 Northwest, along with all the other regional and historic showings of uranium mineralization, exemplifies why we see the Angilak Uranium Project as something truly unique and world-class."

Best Hole Returns 20 Meters of Composite Mineralization

The strongest result of the batch came from a step-out approximately 250 meters along strike to the northeast of the 2025 discovery hole. It intersected 20 meters of composite uranium mineralization across fifteen zones from 494 to 700.5 meters downhole, including 1.3 meters of high-grade mineralization. The highest-grade interval returned 1.5 meters of composite mineralization from 661.5 meters to 663 meters, with an average reading of 8,453 counts per second (CPS) and a maximum of 26,680 CPS, including over 0.6 meters of high-grade mineralization.

Two further step-outs extended the corridor along strike in both directions. A hole positioned approximately 370 meters northeast of the 2025 discovery hole cut 13 meters of total composite uranium mineralization over five zones from 544 meters to 673 meters, with the widest interval measuring 4 meters from 544 meters to 548 meters at an average of 1,013 CPS and a maximum of 6,855 CPS. A step-out approximately 430 meters to the southwest intersected 7 meters of total composite uranium mineralization over six zones from 237 meters to 573 meters, with a highest-grade interval of 1.5 meters from 571.5 meters to 573 meters averaging 4,275 CPS and peaking at 20,138 CPS.

A Second Mineralized Horizon on the Western Limb

Mineralization at RIB North has been identified on two separate horizons. The bulk of drilling to date has followed the eastern limb of the MRC, but a secondary horizon on the western limb, first intersected earlier in the 2026 program, was followed up with a step-out approximately 220 meters along strike to the southwest. That hole intersected 3 meters of composite uranium mineralization across four zones from 412.5 meters to 576.5 meters, with the widest interval returning 1 meter from 540.5 meters to 541.5 meters, at an average of 718 CPS and a maximum of 1,407 CPS. Mineralization on the western limb has now been traced over approximately 220 meters of strike.

Mineralization on both horizons is basement-hosted and structurally controlled, associated with strong albite and hematite alteration, graphitic and sulfide-bearing structures, and overprinting silicification. 

Vice President, Exploration of ATHA Energy, Cliff Revering, tied the drill results back to the program's stated objective: 

"A key objective of our 2026 exploration program at the Angilak Project was to demonstrate the scale and uranium potential of the Mineralized RIB Corridor, while building on the RIB North discovery made in 2025. Results to date have exceeded our expectations, extending mineralization at RIB North over a strike length of 1.45 kilometers, with the system remaining open in all directions."

How the Results Are Measured & Reported

The intervals reported are preliminary downhole radiometric readings, not assays. Radiometric surveying used a Mount Sopris 40TGU-1000 Triple Gamma Geiger downhole probe. The company classifies high-grade mineralization as any interval with radioactivity above 10,000 CPS, and total gamma results were selected using an average cutoff of above 300 CPS over 0.1-meter intervals.

That 300 CPS threshold is a change from prior disclosure. Mineralization was previously defined at a cutoff above 500 CPS; based on assay results from 2024 and 2025, the company lowered the threshold because results above 300 CPS typically yield grades above 0.01% uranium oxide. All drill intercepts are reported as core width, and true thickness has yet to be determined. Core samples are submitted to the Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon, an ISO/IEC 17025:2005 accredited facility, where uranium is analyzed by fluorimetry.

The 2026 Program: Three Drills & Basin-Scale Geophysics

The 2026 Angilak Exploration Program is the largest undertaken on the project and has two components. Diamond drilling with three drills commenced on May 1, 2026, and is scheduled to run through the end of September, focused on expansion and discovery along Angilak's identified mineralized corridors. Aerial geophysics, comprising Expert's MMT survey, was completed in late July.

Drilling is testing two target areas. The Mineralized RIB Corridor is being tested for additional discovery potential and expansion following the 2025 program, which produced four discoveries of uranium mineralization, including RIB North, where the maiden hole intersected 34.7 meters of composite uranium mineralization with grades up to 8.16% uranium oxide over 0.5 meters. The Lac 50 Deposit Corridor is being tested for recently identified 3D inversion targets along strike from the main Lac 50 Deposit area, and to expand a deposit footprint that remains open and unconstrained.

The geophysical component is acquiring full MMT coverage across the 100%-owned Angikuni Basin. That data will be used to build a 3D inversion model of the entire basin, following the same systematic approach ATHA applied during its 2024 and 2025 campaigns, and is intended to generate additional regional targets while characterizing the broader geological architecture of the basin.

Next Steps

Diamond drilling continues through the end of September 2026, with the company maintaining its systematic approach of widely spaced step-outs designed to expand the strike extent of the mineralized footprint at RIB North. Preliminary results from the remainder of the 2026 Angilak Exploration Program will be released over the coming weeks, and 3D inversion modeling results from the completed Angikuni Basin MMT survey are anticipated in the fourth quarter of 2026.

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