ATHA Discovers Athabasca-Style High-Grade Mineralization at Rib East

21 July 2025

HIGHLIGHTS

  • First three drill holes completed at RIB East Discovery successfully targeted stacked gravity, EM and structural anomalies (Figure 2), and intersected uranium mineralization, as part of the 2025 Angilak Exploration Program comprising 10,000 m of diamond drilling (Figure 1);
  • Results represent the second new discovery of uranium mineralization – beyond the Lac 50 Deposit Trend – during the 2025 Angilak Exploration Program, within the Angikuni Basin along the 31 km RIB-Nine Iron Trend;
  • Mineralization at RIB East Discovery is currently defined by three drill holes, all intersecting shallow uranium mineralization (<275 m depth), over a currently defined strike length of 400 m (Figure 2). The RIB East Target anomaly is defined by a 2 km long by 500 m wide gravity anomaly coincident with a NE to SW conductive trend.
  • RIB East Discovery Drilling Highlights:
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    • RIBE-DD-002, 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 9.4 m, including a continuous shallow zone (between 210.9 m and 212.5 m) of 0.3 m of high-grade mineralization that had max radioactivity up to 16,947 CPS1 (Figure 3a, b & 5);
    • RIBE-DD-003, intersecting total composite mineralization of 2.1 m with continuous shallow mineralization over 1.5 m interval (276 m to 277.5 m) within a graphitic shear – analogous to uranium mineralization controls seen in Athabasca Basin deposits and mines – including continuous high-grade mineralization (>10,000 CPS) over a continuous 1.0 m with max radioactivity of 30,730 CPS1 (Figure 3a, b & 6) and a lower grade mineralized fracture intersected between 372 m and 372.6 m. RIBE-DD-003 was drilled 200 m along strike of RIBE-DD-002 and 150 m further into the hanging wall of an interpreted NW trending fault zone.
  • Both the KU and RIB East Discoveries are a result of the May 2025 ground gravity and electromagnetic (EM) survey, which targeted the 31 km Rib-Nine Iron Trend and has defined numerous prospective targets along the RIB-Nine Iron Trend;
  • Also identified by the May survey was RIB West, highlighted by two large gravity anomalies. The first, is 900 m long by 250 m wide, coincident with a highly conductive structural corridor that hosts the historic RIB Discovery. The second is 1.1 km long by 300 m wide, extending from the margin under the cover of the basin, and has yet to be drill tested;
  • The 2025 Angilak Exploration Program will continue to target expansion of the mineralized footprint at the Lac 50 Deposit and the continued discovery of additional regional targets along the RIB-Nine Iron Trend.

Troy Boisjoli, CEO commented: “The RIB East Discovery represents the second new discovery (first being KU Discovery) during the 2025 Angilak Exploration Program, beyond the Lac 50 Deposit Trend in the Angikuni Basin. These results continue to confirm the Company’s exploration approach and thesis, while demonstrating our technical team’s ability to execute and discover. The Company is thrilled with the fact that the RIB East Discovery has high-grade mineralization hosted within a graphitic structure – a known setting for mineralization in all major Athabasca Basin deposits and mines. We are at the early stages of understanding the potential of RIB East, with drilling covering just 400 m of a 2 km long anomaly. The early successes of the 2025 Angilak Exploration Program truly illustrate how underexplored and robust the mineralizing system is in the Angikuni Basin.”

Cliff Revering, VP Exploration added: “The success of our first 3 holes in the RIB target area continues to demonstrate the effectiveness of our targeting strategy being employed at our Angilak Project.  As well, with new discoveries at both the KU and RIB targets during our first exploration campaign along the 31 Km Rib-Nine Iron structural corridor, we remain confident in our view that the Angikuni Basin is an emerging uranium district and highly prospective for discovery of additional uranium deposits.”

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