ATHA Energy Unveils High-Grade Uranium Results from 2024 Exploration Program at Flagship Angilak Project

• Surficial mapping at ATHA Energy's Angilak Uranium Project in Nunavut discovers numerous high-grade uranium outcrops, including a new 3-km zone with radioactivity over 60,000 cps.
• The 2024 Exploration Program successfully expands uranium mineralization along the Lac 50 Deposit, with drilling intersecting grades up to 5.85% U₃O₈ over 0.5 m.
• An updated Exploration Target Model for the Lac 50 Deposit estimates a range of 60.8 to 98.2 million lbs U3O8 at an average grade of 0.37% to 0.48% U₃O₈.
• The Lac 50 Deposit remains open along strike and at depth, with only 24% of the mineralized trends drilled to date, suggesting significant expansion potential.
• ATHA Energy controls the entire Angikuni Basin after staking an additional 69,704 hectares, solidifying its position as a leading uranium explorer in Canada.

ATHA Energy Corp. (TSXV:SASK) is an exploration company focused on developing its extensive uranium portfolio in two of the world's highest-grade uranium districts. The company's flagship asset is the 100%-owned Angilak Uranium Project in Nunavut, Canada, which hosts the Lac 50 Uranium Deposit. ATHA Energy controls the largest uranium exploration portfolio in the Kivalliq Region of Nunavut and the Athabasca Basin of Saskatchewan.

Exciting Discoveries from 2024 Surficial Mapping Program

ATHA Energy's 2024 surficial mapping program at the Angilak Project has yielded impressive results, identifying numerous high-grade uranium outcrops beyond the extents of the current Lac 50 Deposit exploration target model. The mapping program focused on areas proximal to the Lac 50 Deposit and successfully discovered uranium mineralization hosted in outcrops between the Lac 48, Lac 50, Lac 52, and Lac 54 trends.

Most notably, a zone of extensive bedrock outcrop with radioactivity exceeding 60,000 counts per second (cps) was identified over a striking 3-kilometer strike length. This new discovery, located between the Mushroom Lake zone on the Lac 52 trend and the Hot zone on the Lac 54 trend, has not been drill tested and was not included in the 2024 exploration target model. Radioactivity over 10,000 cps is typically indicative of high-grade uranium mineralization, emphasizing the significance of this discovery.

The identification of uranium-bearing veins in outcrops parallel to the established mineralized trends demonstrates the high prospectivity of the Lac 50 Deposit to host additional mineralized horizons. These results further support the conclusions of the updated 2024 Technical Report, significantly de-risking future expansion drilling at the Lac 50 Deposit.

Impressive Drill Results & Expanded Exploration Target

The 2024 Angilak Exploration Program, which included expansion-focused diamond drilling, delivered outstanding results for ATHA Energy. The drilling campaign successfully extended uranium mineralization along strike and at depth within the Lac 50 Deposit, intersecting grades up to an impressive 5.85% U3O8 over 0.5 m.

Highlights from the drilling program include:

• Drill hole J4R-DD-085 intersecting 5.85% U₃O₈ over 0.5 m at a shallow depth of 111.8 m in the Ray Zone
• Drill hole J4R-DD-086 intersecting a new shallow horizon of uranium mineralization grading 0.64% U₃O₈ over 0.5 m and extending the J4 Lower Zone with 5 m grading 0.87% U3O8, including 0.5 m grading 3.92% U₃O₈
• Drill hole BLZ-DD-034 at the Blaze Target on the Lac 48 Trend intersecting 5 m of composite mineralization, including grades up to 0.99% U₃O₈ over 0.5m at 94.5 m depth
• Drill hole PL-DD-030 extending the strike length of the Pulse Discovery on the Lac 52 Trend by ~144 m, intersecting composite mineralization of 5.5 m, including 1.33% U₃O₈ over 1.0 m

The updated 2024 Technical Report establishes an expanded exploration target model for the Lac 50 Deposit, estimating a range of 60.8 million lbs to 98.2 million lbs U₃O₈ with an average grade between 0.37% and 0.48% U₃O₈. This exploration target is restricted to drill results from the Lac 48, 50, 52, and 54 mineralized trends, collectively known as the Lac 50 Deposit.

Enormous Potential for Resource Expansion

The Lac 50 Deposit remains open along strike and at depth, with only approximately 24% of the mineralized trends having been drill tested to date. This, combined with the high-grade uranium discoveries from the surficial mapping program, suggests an enormous potential for resource expansion at the Angilak Project.

The updated exploration target model demonstrates the Lac 50 Deposit's potential to host uranium mineralization significantly exceeding the current estimate. The mineralized trends remain open, and the corridor is highly prospective for discovering additional parallel mineralized horizons.

Furthermore, the Angilak Project exhibits unrealized prospectivity, with numerous high-grade uranium showings, such as the Dipole and Nine Iron, located outside the Lac 50 Deposit area. The Dipole Showing, situated 25 km southwest of the Lac 50 Corridor, has historical drill intersections grading up to 5.53% U₃O₈ over 0.5 m, underscoring the district-scale potential of the project.

Dominant Land Position in the Angikuni Basin

Recognizing the immense potential of the Angilak Project and surrounding area, ATHA Energy strategically staked an additional 69,704 hectares in September 2024. This strategic move resulted in the company consolidating its control over the entire Angikuni Basin, further strengthening its position as a leading uranium explorer in Canada.

The expanded land package provides ATHA Energy with unparalleled opportunities for exploration and discovery in a highly prospective uranium district. The company's dominant land position, coupled with the recent high-grade discoveries and expanded exploration target, solidifies its competitive advantage in the Canadian uranium exploration sector.

Conclusion

ATHA Energy's latest exploration results from the Angilak Uranium Project underscore the company's immense potential in Canada's resurgent uranium sector. The discovery of numerous high-grade uranium outcrops, impressive drill results, and an expanded exploration target at the Lac 50 Deposit position the company for significant growth.

With a historical resource of 43.3 million lbs U₃O₈, an updated exploration target of 60.8 to 98.2 million lbs U₃O₈, and vast untested exploration potential, ATHA Energy offers investors a compelling opportunity in the clean energy space. The company's dominant land position in the Angikuni Basin, world-class uranium exploration portfolio, and proven ability to deliver high-grade discoveries make it a standout performer in the uranium exploration industry.

As the global demand for clean, reliable energy continues to grow, ATHA Energy is well-positioned to capitalize on the strengthening uranium market fundamentals. With a clear focus on value creation and a commitment to responsible exploration, the company is poised to emerge as a key player in the Canadian uranium space.

Investors seeking exposure to the uranium sector should keep a close eye on ATHA Energy as it continues to unlock the vast potential of its Angilak Project and other high-grade uranium assets in Canada. The company's recent successes, strong financial position, and experienced management team inspire confidence in its ability to deliver long-term shareholder value in a resurgent uranium market.