Atha Energy closes $11.49M special warrant placement

Executive Summary

• Atha Energy Corp. closed an oversubscribed bought‑deal private placement of special warrants, raising $11.50 M in gross proceeds.
• The company announced third new uranium discovery of its 2025 Angilak program at the RIB West area and a significant expansion of mineralized strike length at RIB East to ~750 m.
• Detailed drill‑hole intercepts show high‑grade uranium mineralization (e.g., up to 18,485 CPS over 0.1 m) across both discoveries, supporting continued exploration upside.

Key Details

• Financing
• Private placement of 17,126,138 special warrants:
  • 5,756,820 non‑flow‑through (NFT) warrants @ $0.54 each
  • 5,111,888 flow‑through (FT) warrants @ $0.65 each
  • 6,257,430 charity FT warrants @ $0.81 each
• Aggregate gross proceeds: $11,499,928.30 (including full exercise of underwriters’ option).
• Underwriters received $646,414.15 cash and 957,805 compensation warrants (exercisable at $0.65 per share until Sept 18 2028).

• Use of proceeds:

  • FT & charity FT proceeds → qualifying exploration expenditures on Angilak and other projects.
  • NFT proceeds → exploration on Angilak + general corporate purposes.

• RIB West Discovery

• Defined by two drill holes (340 m strike length).
• RIB_W‑DD‑001: 2.1 m composite mineralization (0.5 m high‑grade) at 396.25–398.35 m; peak 18,485 CPS over 0.1 m.
• RIB_W‑DD‑002: 8.5 m composite mineralization between 204.8–269.5 m; includes 2.0 m averaging 1,586 CPS, max 5,193 CPS.

• EM inversion model indicates prospective strike length >3 km with associated conductor.

• RIB East Discovery

• Total of eight drill holes (all intersect uranium).
• Five new holes extend strike from ~400 m to ~750 m.
• RIBE‑DD‑005: 2.2 m composite mineralization; high‑grade interval 282.9–284.4 m, avg 3,711 CPS, peak 12,357 CPS (0.1 m).

• RIBE‑DD‑007: 6.0 m composite mineralization; high‑grade 207.3–209.7 m, avg 4,477 CPS, peak 19,956 CPS (0.1 m).

• EM Inversion Modelling

• Advanced EM inversion across 12 km of the 31 km RIB‑Nine Iron trend completed (August 2025) by Expert Geophysics Ltd.

• Successfully mapped stacked conductors and cross‑cutting structures; drilling confirms accurate targeting of graphitic corridors associated with uranium mineralization.

• Exploration Outlook

• Only ~55 % of expected drill results for the 2025 program disclosed to date.
• Additional EM modelling planned for remaining 62 % of the trend.
• Company will target newly identified EM anomalies (north‑south and east‑west cross‑cutting trends) through end of 2025 program.

Notable Quotes

• Troy Boisjoli, CEO: “The newest discovery… at RIB West is the company’s third discovery of the 2025 Angilak exploration program… we continue to see the hallmarks of a generational bull market for uranium.”
• Cliff Revering, VP Exploration: “We are very excited about the results emerging from the RIB regional target area… all prospective trends remain open along strike and at depth. The EM inversion model has been highly valuable in guiding our targeting strategy.”