ATHA Energy Discovers Mineralization Within the Angikuni Basin in First Hole at KU Target and Drilling at Lac 50 Deposit Extends Mineralization

24 June 2025

HIGHLIGHTS

  • Completes first two drill holes of its 2025 Angilak Exploration Program comprising ~10,000m of diamond drilling.
  • KU Discovery Target:
    • The maiden drill hole, KU-DD-001 successfully targeted stacked gravity and structural anomalies (Figure 2), intersecting shallow high-grade uranium mineralization as well as numerous zones of lower-grade mineralization throughout the hole. The hole intersected total composite mineralization of 7.1 m, including a continuous shallow zone (between 84.95 m and 87.45 m) of 0.7 m of high-grade mineralization that had max radioactivity up to 18,490 CPS (Figures 3 & 4).
    • The initial drilling at the KU Discovery Target confirms the Company’s thesis that the 31 km long RIB-Nine Iron corridor is prospective for hosting uranium mineralization within the Angikuni Basin.
    • The KU Discovery target is located within the Angikuni Basin, approximately 3 km from the northern margin, where historical trench sampling returned grades up to 30.7% U3O8.
    • In May 2025, ATHA completed a ground gravity and electromagnetic (EM) survey, designed to vector in on priority targets along the highly prospective 31 km Rib-Nine Iron Trend, under cover of the Angikuni Basin – a direct analog to the Athabasca Basin.
    • At KU, the survey identified a large – 2 km long by 500 m wide geophysical gravity anomaly. Additionally, a geological structural study was completed in May by SRK Consulting, highlighting numerous interpreted NW-SE faults and cross cutting E-W faults. The gravity survey demonstrates the identified anomalies are coincident with the modeled faults, and the historical high-grade surficial mineralization.
  • Lac 50 Deposit:
    • The first hole targeted the J4/Ray zones located along the Lac 50 Trend (Figure 2). The hole successfully extended mineralization down-dip by ~100 m, demonstrating that the Lac 50 Deposit remains open and unconstrained, both along strike and at depth.
    • J4R-DD-0091 intersected 3.8 m of composite mineralization including 0.4 m of >10,000 CPS up to a max of 14,826 CPS (Figure 5).
  • The 2025 Angilak Exploration Program will continue to target expansion of the mineralized envelop at the Lac 50 Deposit while also testing regional targets along the RIB-Nine Iron Corridor.

Troy Boisjoli, CEO commented: “The results from our first two diamond drill holes completed as part of the 2025 Angilak Exploration Program highlight two things. First, the robust metal endowment at the Angilak Uranium Project, and second, the successful systematic exploration approach of our world class technical team. The discovery of a new zone of mineralization on a maiden drill hole in a new area and the continued expansion at the Lac 50 Deposit is truly remarkable. Both confirm the Company’s exploration thesis, substantially derisking the numerous prospective regional targets, providing a roadmap for executing on successful discoveries. All this at a time when the macro thesis for uranium as the fuel for the New Nuclear Renaissance is top of mind for the world. ATHA Energy and our Angilak Project is well positioned to be a critical player in this cycle.”

Cliff Revering, VP Exploration added: “Since acquiring the Angilak Project in April 2024, we have focused on developing our understanding of the regional geology, structural architecture and mineralization controls within the Lac 50 Deposit area and Angikuni Basin.  As a result, our first hole in the KU target area not only intersected a significant mineralized structural corridor, but also a large graphitic fault breccia zone displaying substantial vertical displacement of the basin unconformity – geological conditions which are extremely favorable for deposition of unconformity-related uranium mineralization.  Our thesis of the Angikuni Basin being an emerging uranium district and highly prospective for discovery of additional uranium deposits continues to unfold.”

Vancouver, British Columbia, June 24th, 2025 – ATHA Energy Corp. (TSX.V: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA” or the “Company”), is pleased to announce results for the first two diamond drill holes completed as part its 2025 Angilak diamond drill exploration program at its 100%-owned Angilak Uranium Project, Nunavut.

The maiden drill hole at the KU Discovery Target intersected five zones of uranium mineralization, including a shallow high-grade lense. The results demonstrate the Company’s thesis that the Angikuni Basin is a direct analog to the Athabasca Basin, and that the 31 km RIB-Nine Iron Trend remains prospective for additional discoveries. At the Lac 50 Deposit, the first hole drilled at the J4/Ray Zone along the Lac 50 Trend intersected four zones of uranium mineralization, expanding the down-dip extents of the envelop of mineralization. J4R-DD-091 demonstrates that the Lac 50 Deposit remains open and unconstrained.

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