ATHA Energy's Angilak Uranium Project Survey Reveals Massive Potential Uncovering Extensive Mineralization & New Targets

• Airborne geophysical survey over ATHA's Angilak uranium project identifies over 100 km of prospective conductors and extends depth of known mineralization to over 1 km.
• Survey reveals new 25 km mineralized trend along western margin of Angikuni Basin with grades up to 5.6% U₃O₈ in historical drilling.
• Results significantly expand exploration potential at the flagship Lac 50 uranium deposit and regional discoveries.
• ATHA holds the largest uranium exploration portfolio in two top global districts and a 10% carried interest in key Athabasca Basin projects.
• With a robust project pipeline, proven team, and exposure to rising uranium prices, ATHA is well-positioned to create shareholder value as a leading uranium explorer and developer.

ATHA Energy Corp. (TSXV:SASK) is a Canadian mineral exploration and development company focused on advancing a portfolio of high-grade uranium projects in pursuit of a clean energy future. The company holds a strategic mix of 100%-owned post-discovery assets including the flagship Angilak project in Nunavut and CMB Discoveries in Labrador which host historic uranium resources, as well as the newly discovered high-grade GMZ uranium zone in the Athabasca Basin.

With the largest land package in two world-class uranium jurisdictions and a 10% carried interest in key Athabasca Basin projects partnered with uranium leaders NexGen Energy and IsoEnergy, ATHA is positioned to be a leading player in the global shift towards clean, carbon-free nuclear energy.

Angilak MMT Survey Unveils District-Scale Potential

The recently completed 5,946 line-km Mobile Magneto Tellurics (MMT) geophysical survey at ATHA's 100%-owned Angilak Uranium Project in Nunavut has delivered exciting results that underscore the project's vast exploration upside. The state-of-the-art survey, which covered 85% of the core project area, successfully achieved its primary goals of:

• Determining depth extent of uranium-bearing conductors at the Lac 50 deposit
• Defining depth and lateral extent of conductors at regional discoveries like Nine Iron
• Mapping prospective conductors in the Angikuni sub-basin that are analogous to Athabasca Basin unconformity-type deposits
• Identifying new structural targets along the basin margins

In total, the survey detected over 100 km of cumulative prospective conductors.  Critically, it extended the depth of the mineralized envelope at the flagship Lac 50 deposit, which hosts an Exploration Target of 60-98 million lbs U₃O₈ at 0.37-0.48% U₃O₈, to over 1,000 meters - well beyond the previous maximum depth of about 500m. This opens up significant room for resource expansion.

Mineralized Trend with Athabasca-Style Potential

Perhaps the most exciting revelation from the MMT survey was the identification of an entirely new 25 km long conductive trend along the western margin of the Angikuni Basin. This Western Margin Trend (WMT) displays geophysical signatures that are more pronounced than those at Lac 50 and Nine Iron.

Intriguingly, the WMT is coincident with the historical Rib and Yat uranium showings, where late-1970s shallow drilling (<100m depth) hit Athabasca Basin-like unconformity-type mineralization, alteration and structure. Grab samples graded up to a spectacular 5.6% U₃O₈. The survey indicates the main conductive horizon hosting these high-grade occurrences extends to over 1 km depth, both within and along the basin margins.

This has major implications for the project's overall potential. The WMT represents an entirely new, multi-kilometer mineralized system with the real possibility of hosting not just one, but multiple Athabasca-style uranium deposits.  And it has barely been scratched by historical drilling. ATHA now has a clear blueprint to target these zones with modern, deeper-penetrating drill testing.

Expanding the Envelope at Lac 50 & Nine Iron

While the WMT steals the spotlight, the implications of the MMT results for the Lac 50 trend and surrounds are also highly positive for ATHA. At Lac 50, mineralization was previously thought to extend to maximum depths of around 500m. The latest survey shows the controlling conductors reach more than 1 km depth.

This effectively doubles the size of the exploration search space at a deposit that already boasts a substantial Exploration Target and 43 million lbs of historic uranium resources at a high grade of 0.69% U₃O₈. There's a clear path to potentially supersizing Lac 50 through targeted deeper drilling along the entire 5+ km trend.

Similarly, at the Nine Iron discovery 5.5 km southeast of Lac 50, the survey extended the prospective horizon from the previously intersected 150m to over 800m depth. Nine Iron, which is not included in the current Exploration Target, has delivered historic intersections up to 1.25% U₃O₈ and represents yet another underexplored high-grade uranium zone within the broader Lac 50 trend.

Well-Funded to Execute

With $25 million in working capital, ATHA is well-funded to aggressively advance Angilak and the rest of its portfolio. The company is planning a major program at Angilak for the 2025 field season, including 20,000m of expansion and discovery-focused drilling on the new uranium targets generated by this survey. Permitting is already well underway.

ATHA also benefits from a highly strategic 10% carried interest in two large Athabasca Basin uranium exploration projects operated by NexGen Energy (TSX:NXE) and IsoEnergy (TSXV:ISO) - giving shareholders additional low-cost exposure and upside to potential Tier-1 discoveries in the world's highest-grade uranium jurisdiction, without the dilution.

Proven Leadership & Uranium Market Upside

ATHA is led by an experienced team with decades of combined experience in uranium exploration and mining, and an impressive track record of value creation. This includes Chairman Chris Frostad, who was involved in the early exploration of NexGen's world-class Arrow uranium discovery.

As the global pivot towards clean nuclear power accelerates to combat climate change, uranium prices are forecast to continue rising from the current US$50/lb level. With an exceptional project pipeline, proven leadership, and strategic exposure to Tier-1 discovery potential in the Athabasca Basin, ATHA is exceptionally well-positioned to capitalize.

Key Takeaways for ATHA Energy Investors

The results from the Angilak MMT survey are undeniably positive for ATHA Energy, dramatically expanding the project's discovery potential and opening up a new dimension of exploration upside - all of which translates to opportunities for value creation.

The identification of the 25 km WMT as a potential Athabasca Basin analogue is a potential game-changer that, with targeted drilling, could transform the project into a world-class uranium district on par with the Athabasca.  The fact that the controlling conductor extends to over 1 km depth means this trend has room to host not one, but many high-grade uranium deposits - and ATHA has barely started to scratch the surface.

At the same time, the extension of the mineralized envelope to similar depths at both Lac 50 and Nine Iron provides scope to substantially grow the historic resource base and exploration target through deeper drilling.  All the ingredients are in place to potentially build Tier-1 scale resources.

With $25M in the treasury, ATHA is well-funded to aggressively drill test these exciting uranium targets in 2025. And its strategic 10% carried interest in Athabasca Basin exploration projects with uranium heavy-hitters NexGen and IsoEnergy provides additional low-cost exposure to potential Tier-1 discoveries in Saskatchewan.

As the uranium market continues to heat up driven by the intensifying global push towards clean nuclear energy, ATHA provides compelling exposure to rising uranium prices through its exceptional project pipeline, proven management team, and world-class discovery potential.