ATHA Energy Makes Second High-Grade Uranium Discovery

• ATHA Energy discovers its second high-grade uranium mineralization at its Angilak project in Canada, with three consecutive drill holes hitting mineralization over 400 meters of strike length along the previously untested RIB-Nine Iron trend.
• The company controls 100% of the Angikuni basin, providing first-mover advantage in an unexplored region that CEO Troy Boisjoli compares to "exploring in the northeast Athabasca basin circa 1965."
• High-grade intersections show exceptional promise, with mineralization over 10,000 counts on probe equipment and peaks up to 30,000 counts, hosted in graphitic fault zones similar to major Athabasca basin deposits like Eagle Point and Arrow.
• Lac 50 deposit provides solid foundation with 43 million pounds of historic uranium resources at 0.69% grade, while new discoveries at RIB East and KU targets demonstrate district-scale potential across multiple mineralized corridors.
• Shallow mineralization depths ranging from 50-280 meters suggest future potential for low-cost mining operations if they can show scale, with simple uranium phases (pitchblende and uraninite) indicating favorable metallurgy for future development.

First Mover Advantage in Virgin Uranium Basin Pays Off

The uranium sector is experiencing renewed investor interest as global energy transition demands and nuclear power renaissance drive unprecedented demand for clean fuel sources. Against this backdrop, ATHA Energy's recent high-grade uranium discoveries at its flagship Angilak project in Canada represent a compelling investment opportunity in an underexplored region with district-scale potential.

Strategic Position in Untapped Canadian Basin

ATHA Energy has positioned itself as the sole operator in the Angikuni basin, providing complete control over what could emerge as Canada's next major uranium district. The company's approach differs significantly from competitors operating in Athabasca basin that has been explored since the 1940s, where land packages are fragmented and discovery potential more limited.

CEO Troy Boisjoli emphasizes the unique opportunity:

"We're fortunate because this is like exploring in the northeast Athabasca basin circa 1965. We get to test our highest priority targets in an untested basin first."

This first-mover advantage allows ATHA Energy to systematically explore high-priority targets without competition, a rare luxury in today's uranium exploration landscape.

The Angilak project spans multiple mineralized trends including the Lac 50 Deposit Trend that has seen the majority of the work by previous operators. In 2025, ATHA has two objectives with its exploration program: 1) Continued expansion of the mineralized footprint at Lac 50, and 2) Regional exploration focusing on greenfields targets within the Angikuni Basin along the 31-km long RIB-Nine Iron Trend. This scale provides multiple discovery opportunities within a single project area, reducing exploration risk while maximizing upside potential for investors.

Second High-Grade Discovery Validates Exploration Thesis

Recent drilling results at the Rib East Target demonstrate the project's exceptional potential, with all three initial drill holes intersecting uranium mineralization over 400 meters of strike length. The second hole delivered nine meters of composite mineralization, while the third hole encountered high-grade mineralization exceeding 10,000 counts on probe equipment, with peaks reaching 30,000 counts.

These results are particularly significant given their geological context. The mineralization occurs within graphitic fault zones in basement rock, a setting analogous to world-class Athabasca basin deposits including Eagle Point and Arrow. This geological similarity suggests potential for large-scale uranium accumulation similar to Canada's tier-one uranium deposits.

The discovery's structural controls provide additional confidence in the exploration model. Boisjoli explains:

"We're seeing mineralization hosted in brittle faulting, in brittle structure, in graphitic structure that has offset at the unconformity that's mineralized over a considerable strike length."

This structural understanding enables systematic exploration of the broader trend, reducing discovery risk for subsequent drilling programs.

Interview with Chief Executive Officer, Troy Boisjoli

Established Resource Base Provides Investment Security

While new discoveries generate excitement, ATHA Energy's Lac 50 deposit provides immediate value and development optionality. The historic resource estimate of 43 million pounds at 0.69% grade establishes a substantial foundation for the project, comparable to significant uranium deposits globally.

The Lac 50 deposit's grade compares favorably to other Canadian uranium projects. As Boisjoli notes:

"When I was working at Eagle Point (part of Cameco's Rabbit Lake complex), the remaining resources at Eagle Point are 0.7%. So we really like Lac 50."

This grade comparison to a producing mine provides context for Lac 50's quality and development potential.

Recent drilling around Lac 50 has consistently expanded the known mineralization, with all 25 drill holes from the previous year intersecting uranium mineralization. This success rate demonstrates both the deposit's scale and the technical team's ability to execute successful exploration programs, building investor confidence in future drilling campaigns.

Technical Team Delivers Proven Exploration & Discovery Expertise

ATHA Energy's technical leadership brings extensive uranium development and production experience from the Athabasca basin. The team includes former Cameco personnel who helped bring the Cigar Lake mine into production, providing practical knowledge of uranium project development in the Canadian regulatory environment.

The integrated approach combining structural geology, geochemistry, and geophysics has accelerated understanding of the project's controls on mineralization. This multidisciplinary expertise enables the team to make rapid exploration decisions, condensing typical exploration timelines from years into months while maintaining discovery success rates.

The team's systematic approach to target generation using advanced geophysical modeling has proven effective in the early drilling campaigns. Ground electromagnetic surveys and gravity data create three-dimensional models of conductive structures, which correlate strongly with drill hole intersections. This predictive capability reduces exploration risk and improves drilling efficiency.

Favorable Shallow Mining Conditions Enhance Project Economics

The Angilak project's shallow mineralization depths create potential for low-cost mining operations compared to deeper uranium deposits. Along the Lac 50 Trend mineralization has been identified outcropping at surface and extending to depths of 500m - the trend remains open at depth and along strike, eliminating the need for expensive shaft infrastructure required at deeper operations.

The simple uranium mineralization phases identified to date - primarily pitchblende and uraninite - suggest straightforward metallurgical processing without complex deleterious elements. This mineralogical simplicity typically translates to lower processing costs and higher uranium recovery rates, improving project economics.

Geographic location in Saskatchewan provides access to established uranium mining infrastructure, skilled workforce, and supportive regulatory framework. The province's uranium mining expertise reduces development risk and provides potential partnership opportunities with established operators for future project advancement.

District-Scale Exploration Upside

Beyond immediate drilling targets, ATHA Energy controls extensive prospective geology across the Angikuni basin with multiple unexplored trends. Surface geochemistry indicates widespread uranium mineralization across the property, with historical grab samples, trench samples, and outcrop samples confirming significant metal endowment.

The structural framework identified across the basin suggests interconnected mineralized systems spanning multiple target areas. The Ferguson shear zone and Angikuni shear zone create large dilational structures favorable for uranium precipitation, similar to controls on major Athabasca basin deposits.

Current drilling represents early-stage exploration of this extensive system, with only three holes completed along the four-kilometer RIB East Target. Systematic exploration of additional targets could reveal multiple deposits within the project area, transforming ATHA Energy from a single-asset exploration company to a district-scale uranium developer.

The Investment Thesis for ATHA Energy

• Unique Market Position: 100% control of Angikuni basin provides exclusive access to district-scale uranium exploration opportunity without land package fragmentation common in established mining camps.
• Proven Discovery Success: Recent high-grade intersections at the RIB East target validate exploration model, with all three initial holes hitting mineralization over 400-meter strike length, demonstrating systematic discovery potential.
• Established Resource Foundation: Lac 50's 43 million pounds at 0.69% grade provides immediate project value and potential development catalyst, reducing exploration-stage investment risk.
• Experienced Management Team: Former Cameco personnel with Cigar Lake production experience provide proven uranium development expertise and industry relationships critical for project advancement.
• Favorable Development Conditions: Shallow mineralization depths (50-200 meters) and simple uranium phases suggest low-cost mining potential in established uranium mining jurisdiction.
• Multiple Discovery Catalysts: 10,000-meter drilling program with 31-kilometer RIB-Nine Iron Trend and additional unexplored targets provide multiple near-term catalysts for resource expansion and new discoveries.
• Strategic Timing Advantage: Market entry during uranium sector consolidation and rising prices provides optimal conditions for discovery monetization and potential acquisition interest.
• Scalable Exploration Model: Integrated geophysical targeting approach enables systematic exploration of extensive trend system, reducing discovery risk while maximizing exploration efficiency.

The information presented demonstrates ATHA Energy's emergence as a significant uranium exploration opportunity in an underexplored Canadian basin. The combination of recent high-grade discoveries, established resource base, experienced management team, and extensive exploration upside creates compelling investment proposition during favorable uranium market conditions. The company's systematic approach to exploration and proven discovery success suggest continued value creation potential as drilling programs advance across multiple target areas within the district-scale project.

Nuclear Needs New Big Uranium Discoveries

The global uranium sector stands at an inflection point as nuclear power experiences unprecedented revival driven by energy security and cost concerns. Governments worldwide increasingly recognize nuclear energy's critical role in achieving net-zero emissions while maintaining grid stability and energy independence. Supply-demand fundamentals strongly favor uranium prices, with existing mine production insufficient to meet growing reactor fuel requirements. The uranium market has experienced chronic underinvestment following the Fukushima incident, creating structural supply deficits as reactor restarts and new construction accelerate globally.

Recent geopolitical events have intensified focus on uranium supply chain security, particularly regarding Western dependence on Russian and Kazakhstani production. This dynamic favors Canadian uranium projects like ATHA Energy's Angilak, which benefit from stable jurisdiction status and alignment with Western energy security objectives. Major utilities are shifting from spot market purchases to long-term contracting strategies, seeking supply security for multi-decade reactor operations. This contracting environment provides development companies with enhanced revenue visibility and financing options for advancing uranium projects through feasibility and construction phases.

The convergence of climate policy, energy security requirements, and supply constraints creates sustained bullish conditions for uranium investments. Companies controlling high-quality uranium resources in stable jurisdictions are positioned to benefit from this multi-year demand growth cycle.

As Boisjoli emphasizes the sector's potential:

"We need more tier one uranium deposits. We need more tier one scale uranium systems."

This fundamental need, combined with limited exploration success in recent years, positions successful uranium discoveries for significant value appreciation as market conditions continue strengthening.