ATHA Energy Confirms New High-Grade Discovery at Angilak Project – Rib North

20 November 2025

HIGHLIGHTS

• Assays confirm the Company’s maiden drillhole, RIBN-DD-001, at the RIB North Discovery as the best exploration hole drilled to date at the Angilak Uranium Project;

• RIBN-DD-001 assays returned total composite uranium mineralization1 of 34.7 m encompassing seven zones from 287.0 m to 439.9 m (Figure 4) – surpassing what was reported in the release of preliminary results (September 23rd, 2025, News Release);

• The widest continuous intersection in the hole – from 426.3 to 439.9 – returned 13.6 m of composite uranium mineralization1 grading 0.53% U3O8, including 1.1 m grading 4.81% U3O8 with the highest-grade sample returning 8.16% U3O8 over 0.5 m;

• Mineralization was first intersected in the sandstone over three intervals (between 287.0 m and 351.1 m). The fourth zone was intersected directly above the unconformity (located at 356.7m), extending into graphitic basement rock below. The additional three widest intersections are basement hosted vein style uranium mineralization, associated with strong hematite alteration, graphitic structures and overprinting silicification – similar in style and widths observed in Athabasca Basin basement hosted deposits;

• RIB North Discovery is situated along the 4.4 km eastern limb of the Mineralized RIB Corridor (“MRC”) – a 12 km trend containing stacked structural anomalies, identified using 3D EM Inversion modeling. During the 2025 Angilak Exploration Program these anomalies were drill tested, resulting in a 100% success rate of intersecting uranium mineralization, and the discovery of four new mineralized areas: RIB East, West, North and South (Figures 2 & 3);  

• The nearest drilling to RIBN-DD-001 occurred ~1.4 km along strike at the RIB East Discovery and 1.8 km along strike at the RIB West Discovery areas – both holes intersected uranium mineralization, however, the extension of the structural corridor hosting RIB North mineralization remains untested and highly prospective (Figures 3);

• All 2025 mineralized drill core samples have been submitted to the Saskatchewan Research Council (SRC) Geoanalytical Laboratory for analysis. The Company anticipates disclosing all remaining assay results within Q4 2025.

Troy Boisjoli, CEO commented: ”During my career as an exploration geologist I have had the pleasure of working in some of the world’s premier regions for discovery of uranium mineralization – such as the Patterson Lake and Rabbit Lake corridors. With that experience, I cannot recall a maiden hole into a target area that returned an intersection this significant, with assays surpassing our expectations. The grades and thicknesses, the style of mineralization, along with the pathfinder elements and geophysical signatures are all present at the RIB North Discovery. The confirmation of the MRC as an important corridor at the Angilak project – in addition to Lac 50 Deposit Trend, and numerous other showings – reinforces the blue-sky potential that Angikuni Basin could be the next Athabasca Basin. At a time when the Canadian Government is looking to advance mineral resource projects and strengthen infrastructure in the north. The Angilak Uranium Project is just getting started.”

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