Atomic to conduct survey at South Lisbon Valley East

Executive Summary

• Atomic Minerals Corp. plans to conduct a radon cup survey across its 1,516.5-acre South Lisbon Valley East property in Utah to refine drilling targets for an upcoming drill program scheduled for the late first half or early second half of the year.
• The survey will utilize equally spaced northeast-trending lines to detect radon gas emanating from the Triassic Chinle formation through faults, aiming to derisk exploration efforts in a region historically known for significant uranium production.
• Historical oil and gas drilling data and past uranium production metrics support the company's thesis that a previously unmined arcuate uranium belt exists on the northeast side of the Lisbon Valley fault.

Key Details

• Property Location & Size: South Lisbon Valley East property, 1,516.5 acres (614 hectares), located in the Colorado Plateau uranium district approximately 35 km northeast of Monticello, Utah.
• Survey Methodology: Radon cup survey with equally spaced northeast-trending lines covering the full width of a suspected arcuate belt of uranium mineralization hosted in the Moss Back member of the Triassic Chinle formation.
• Survey Timing: To commence shortly, contingent on weather conditions and radon survey specialist availability.
• Primary Objective: Detect radon gas emanating from the Chinle formation through faults to the surface to refine and prioritize targets for the planned late first half/early second half drill program.
• Historical Production Context: The Lisbon Valley district produced approximately 78 million pounds of U3O8 between 1952 and 1982 from an arcuate belt ~16 miles long by 1 mile wide. The Rio Algom mine produced 13 million pounds at an average grade of 0.25% U3O8 at a depth of 2,550 feet on the downfaulted side of the Lisbon Valley fault.
• Recent Exploration Data: Oil and gas drilling conducted between 2006 and 2014 on the northeast down-faulted side identified anomalous to extremely anomalous gamma ray readings in 28 of 51 wells, outlining a suspected eastern arcuate belt measuring 20 km in length by >750 m in width.
• SLVE Property Historical Data: Nine widely spaced historic oil and gas wells define the southern end of the 20 km by 750 m belt, with off-scale radioactivity recorded within favorable Chinle formation host rock over widths of 1.8 to 4.5 m (6 to 15 feet) at depths of 760 to 880 m (2,495 to 2,890 feet).
• Technical Verification: Data disclosed relates to historical drilling; the company has not independently verified the sampling but will use it to guide exploration. Technical content reviewed and approved by R. Tim Henneberry, PGeo (British Columbia), a qualified person under National Instrument 43-101.

Notable Quotes

• Clive Massey, CEO: "We are utilizing as many tools in the geological tool box as we can to derisk our upcoming Lisbon Valley East drill program."
• Clive Massey, CEO: "We strongly believe significant uranium mineralization lies within the target belt, analogous to the previously producing uranium belt on the SW side of the Lisbon Valley fault where 78 million lb was previously produced."