ATHA Clarifies Technical Disclosure and Files an Amended Technical Report for Angilak

Executive Summary

• ATHA Energy Corp. filed an amended and restated NI 43‑101 technical report for the Angilak Project to remove historical mineral resource estimates and update the exploration target model per BCSC comments.
• The amendment clarifies that prior resource figures are no longer relevant and that the current disclosure does not constitute a mineral resource estimate.
• Company has updated its website, investor presentation and other IR materials to reflect the revised technical information.

Key Details

• Regulatory trigger: British Columbia Securities Commission review identified deficiencies in ATHA’s prior technical disclosure (historical resource estimates and exploration target model).
• Amended NI 43‑101 report: Removes all historical mineral resource disclosures for the Lac 50 Deposit; adds updated conceptual exploration target with required cautionary language.
• Technical basis for change: Recent 2024 drilling results, preliminary 2025 drill data, airborne & ground geophysical surveys, and expanded geological/structural analyses have revised the geological model and expanded the known mineralized footprint.
• Impact on filings: The amended report supports disclosures in ATHA’s forthcoming Annual Information Form to be filed with its short‑form prospectus.
• Retraction statement: ATHA formally retracts any prior implication that historical resource estimates are current or that the exploration target constitutes a measured mineral resource.
• Qualified Person: Cliff Revering, P.Eng., Vice President – Exploration, reviewed and approved the scientific and technical disclosure in accordance with NI 43‑101.
• Investor communications update: Company has refreshed its website, investor presentation and other IR materials to ensure compliance with securities laws and regulatory requirements.

Notable Quotes

“The amended Technical Report removes all disclosure of historical mineral resource estimates, which are no longer considered relevant to the current project, and provides updated disclosure regarding the conceptual exploration target for the Lac 50 Deposit.” – Troy Boisjoli, CEO, ATHA Energy Corp.