ATHA Energy Positioned for Growth with Canada's Largest Uranium Land Package & Expanding Angilak Resource

• ATHA Energy is a large-scale uranium explorer with the largest land position in Canada and a 43M lb advanced resource at its Angilak project
• In 2024, ATHA closed a transformational 3-way acquisition, combining with 92 Energy and Latitude Uranium
• ATHA drilled 10,000m at Angilak in 2024, expanding the resource and outlining an additional exploration target of up to 98M lbs U3O8
• ATHA believes Angilak has potential to be a top-5 global uranium asset by size and could be rapidly advanced towards development
• The Company will focus 70% of its 2025 efforts on Angilak while also exploring its huge 8.5M acre land package in Canada's premier uranium districts

The uranium market is heating up as the world embraces carbon-free nuclear energy to combat climate change and meet surging demand for reliable, affordable electricity. Amidst the increasingly bullish fundamentals, one company stands out as an emerging leader with exceptional assets and upside potential: ATHA Energy Corporation.

Largest Land Position in Canada with District-Scale Potential 

ATHA Energy controls the largest uranium exploration land package in Canada totaling a massive 8.5 million acres across the prolific Athabasca Basin and Thelon Basin.

"We are a large-scale uranium explorer with the largest land position in Canada and an advanced resource in Angilak."

The crown jewel is the 100%-owned Angilak project in Nunavut Territory, which hosts a high-grade Inferred resource of 43 million pounds U3O8 at a robust grade of 0.69%. For context, these grades are on par with Cameco's world-class, previously producing Eagle Point mine which averaged 0.7% U3O8.

But this is just the beginning. ATHA has identified significant exploration upside across the property, outlining a conceptual exploration target of up to 98 million pounds. Recent geophysical surveys have identified a 25 km long conductor trend leading to untested targets, demonstrating the potential for the Angilak resource to grow into one of the world's premier uranium deposits.

2024 Exploration Program Delivers 

In 2024, ATHA completed a transformational exploration program at Angilak, drilling over 10,000 meters in 25 holes. Every single hole intersected uranium mineralization and was an expansion to the existing resource. Based on these results, ATHA is now modeling an updated mineral resource estimate that will underpin upcoming economic studies. CEO Troy Boisjoli commented:

"What the work that we did last year set us up to do is become much more predictive than reactive within how we're investing capital at this stage at the project level, and we like that."

Interview with Chief Executive Officer, Troy Boisjoli

Primed to Capitalize on Rising Uranium Prices 

The outlook for uranium prices is the most bullish in a decade. The market is projected to swing into a deepening supply deficit as demand soars and supply remains constrained after years of low prices and underinvestment. Major producers like Cameco and Kazatomprom are buying in the spot market, while new players like the Sprott Physical Uranium Trust are soaking up excess supply.

Simultaneously, nuclear energy is enjoying a global renaissance as countries strive to decarbonize power grids and ensure energy security. The EU recently categorized nuclear as "green" energy, while China has over 20 reactors under construction. More broadly, aggressive government policy support and the coming wave of small modular reactors (SMRs) could further accelerate demand.

ATHA is ideally positioned to capitalize on this powerful macro backdrop. With a large, high-grade deposit in Canada, a top-tier jurisdiction, ATHA screens as one of the most attractive, undervalued uranium assets globally. As CEO Boisjoli stated:

"You're going from NexGen to Denison to Iso, Fission, Paladin, and you look at the valuation of those companies on an enterprise value per pound basis - take round numbers here on average - they're looking at say $6-12/lb, depends on jurisdiction if you use measured and indicated... We see a significant opportunity there to add value to our company through resource growth."

The Investment Thesis for ATHA Energy

• Large, high-grade resource: 43M lbs at 0.69% U3O8 with potential to expand to 98M lbs
• Tier-one asset potential: Angilak could become a top-5 global uranium deposit
• Proven management team with a track record of discovery and development
• Huge land package of 8.5M acres in Canada's top uranium districts offers exploration upside
• Benefitting from rising uranium prices as market shifts into deficit
• 3-way merger in 2024 provides enhanced scale and synergies
• Resource expansion and development studies in 2025 could be major catalysts

Macro Thematic Analysis

The global uranium market is undergoing a structural shift as the world embraces nuclear energy to combat climate change and meet rapidly growing electricity demand. The supply side faces major challenges to keep pace after a decade of underinvestment and curtailments due to low prices. As a result, the market is swinging into deficit with prices rising. However, most uranium equities have yet to rerate, providing opportunities for investors.

A key thematic is the geopolitical dimension. Russia and Kazakhstan together control over half of global uranium supply. Russia's invasion of Ukraine has made Western utilities unwilling to continue buying Russian uranium directly. This places a renewed focus on projects in safer jurisdictions like Canada. As ATHA Energy CEO Troy Boisjoli states:

"To have the ability to be working on a project that we believe has tier-one scale potential in a jurisdiction like Canada is a significant benefit."

Ultimately, much higher uranium prices are needed to bring on new production to meet demand.

"When you look at the uranium market as a whole and you look at companies that have assets under management within the Canadian uranium landscape that are pre-production... We see a significant opportunity there to add value to our company through resource growth."