ATHA Energy Reports Widest Intersection to Date at Rib North Discovery With 37 m of Composite Uranium Mineralization in RIBN-DD-003

9 July 2026

HIGHLIGHTS

  • First eight diamond drillholes completed at the RIB North Discovery (Figure 1) – as part of the recently commenced 2026 Angilak Exploration Program – outline continuity of mineralization at the primary RIB North area, along strike from the maiden discovery hole, RIBN-DD-001, over 300 m. Additionally, the Company has discovered a secondary, east-west mineralized structure along the western limb of the Mineralized RIB Corridor (“MRC”) approximately 1 km from the main RIB North Discovery Area (Figure 2);
  • Drilling is focused on widely spaced step-outs, designed to outline the continuity of uranium mineralization at RIB North – the discovery remains open in all directions;
  • Six of the eight drillholes intersected uranium mineralization, results are highlighted by:
  • Drillhole RIBN-DD-003: Successfully targeted uranium mineralization ~120 m along strike to the Northwest from RIBN-DD-001, resulting in the intersection of 37.0 m of total composite uranium mineralization2 over fifteen zones from 541.7 m to 652.0 m (Figure 3). The widest mineralized interval was 8.5 m of composite mineralization from 541.7 m to 550.2 m with an average reading of 696 counts per second (CPS1) and a max of 4,612 CPS1. The highest-grade interval resulted in 4.5 m of composite mineralization from 571.7 m to 576.2 m with an average reading of 4,589 CPS1 and a max of 14,773 CPS1, including over 1.0 m of high-grade mineralization2;
  • Drillhole RIBN-DD-008: Successfully targeted uranium mineralization along secondary east-west horizon 1 km away from the primary RIB North Discovery area. RIBN-DD-008, intersected 14.0 m of total composite uranium mineralization2 over nine zones from 398.0 m to 646.0 m (Figure 4). Two zones containing high-grade mineralization were intersected, the first from 427.0 m to 429.5 m with an average reading of 2,529 CPS1 including 20 cm of high-grade mineralization with a max reading of 11,798 CPS1. The second was intersected from 436.0 m to 438.5 m with an average reading of 2,711 CPS1 including 10 cm of high-grade reading 11,725 CPS1;
  • Drillhole RIBN-DD-009: The drillhole is on-going but has thus far successfully targeted uranium mineralization 100 m up-dip from RIBN-DD-003. RIBN-DD-009, intersected 17.5 m of total composite uranium mineralization2 over six zones from 298.5 m to 516.5 m (Figure 5). The widest zone intersected 14.5 m of continuous mineralization with an average reading of 1,507 CPS1 including 20 cm of high-grade mineralization with a maximum reading of 13,807 CPS1;
  • Mineralization at RIB North has now been discovered on two separate horizons. The bulk of drilling to date, following up on the maiden discovery hole RIBN-DD-001, is located on the eastern limb of the MRC, with continuity of mineralization now outlined over 300 m. The secondary horizon was discovered by RIBN-DD-008 and is located on the western limb of the MRC. Mineralization at both the primary and secondary mineralized horizons is basement hosted vein style uranium mineralization, associated with strong albite and hematite alteration, graphitic + sulphide-bearing structures and overprinting silicification – similar in style and widths observed in Athabasca basement hosted deposits;
  • The successful follow-up results demonstrate ATHA’s geological model and understanding on controls of mineralization at RIB are proving accurate. In turn, over the remainder of the 2026 Angilak Exploration Program, the Company will continue its systematic approach, targeting widely spaced drilling to define the extent of the mineralized footprint at RIB North;
  • Beyond the RIB North Discovery, the Company intends to follow-up on the additional RIB East, West, and South Discoveries from its successful 2025 Exploration campaign. The entire 18 km Mineralized RIB Corridor remains open and unconstrained.

Troy Boisjoli, CEO commented: ”The initial results from the Mineralized RIB and Lac 50 Deposit Corridors continue to reinforce our belief that Angilak represents one of the most compelling uranium exploration opportunities in Canada, if not globally. Successfully outlining continuity of mineralization over significant step-outs speaks to the scale of the system we are exploring along with our technical team’s exceptional ability to execute. These results represent only the initial results of the Company’s largest exploration to date at the Angilak Uranium Project. Our 2026 Exploration Program is executing the drilling component with multiple drill rigs, all of which are intersecting mineralization. Considering that the entire 18 km MRC, 21 km Lac 50 Deposit, and the 14 km KU-Nine Iron Corridors completely unconstrained, is something truly unique – ATHA is just starting to unlock Angilak’s potential.”

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