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HHH 3.94 −0.2% COS 0.060 +0.0% VCT 0.075 +36.4% NOB 0.065 −23.5% MEK 0.055 +0.0% TGOL 0.105 −4.5% FCI 0.400 −7.0% SGQ 0.350 +0.0% SASK 0.980 −3.9% WGX 4.58 −1.9% GMX 1.90 +3.8% DSV 8.75 −4.1% MQM 0.140 −17.6% MNO 1.50 −3.9% VIZ 0.190 +0.0% HBM 31.81 −0.1% HHH 3.94 −0.2% COS 0.060 +0.0% VCT 0.075 +36.4% NOB 0.065 −23.5% MEK 0.055 +0.0% TGOL 0.105 −4.5% FCI 0.400 −7.0% SGQ 0.350 +0.0% SASK 0.980 −3.9% WGX 4.58 −1.9% GMX 1.90 +3.8% DSV 8.75 −4.1% MQM 0.140 −17.6% MNO 1.50 −3.9% VIZ 0.190 +0.0% HBM 31.81 −0.1%
Drill Results

Atha Energy talks use of $63M financing proceeds

By The Northwire Desk — AI Analysis Feb 09, 2026 · 16:16 SASK · 0.83 Atha Energy Corp.
SASK · Price

Executive Summary

  • Atha Energy Corp. completed a combined financing totaling approximately $63 million (U.S.), including a strategic investment from Queens Road Capital, to fund growth and discovery at its 100%-owned Angilak uranium project in Nunavut.
  • The company is launching its largest-ever exploration program at Angilak in 2026, scheduled to begin in late April or early May, focusing on expanding known deposits and discovering new showings across multiple corridors.
  • An additional diamond drill is being mobilized to the site by Base Diamond Drilling Ltd., marking a significant ramp-up in drilling activities following the successful 2025 campaign which identified five new uranium showings.

Key Details

  • Financing Structure: Combined financing totaling approximately $63 million (U.S.).
  • Strategic Investor: Queens Road Capital provided a strategic investment as part of the combined financing.
  • Use of Proceeds: Advancing the 100%-owned Angilak uranium project in Nunavut, Canada, specifically funding the 2026 exploration program.
  • 2026 Exploration Program Scope:
    • Described as the largest exploration program to date at the project.
    • Activities include diamond drilling, aerial geophysics, and surficial mapping.
    • Focus areas include:
      • Lac 50 Deposit Corridor: Expanding the footprint of mineralization. The 2024 exploration target ranges from 60.8 million pounds to 98.2 million pounds U3O8 at an average grade of 0.37% to 0.48% U3O8. The deposit remains open and unconstrained.
      • Mineralized Rib Corridor: Additional discoveries and expansion.
      • KU-Nine Iron Corridor: Additional discoveries and expansion.
      • Angilak Greenfields: Acquiring full suite of geophysics coverage across the Angikuni basin to identify and derisk additional targets.
  • Drilling Operations:
    • An additional diamond drill is being prepared for mobilization by Base Diamond Drilling Ltd. (Atha's provider since 2024).
    • Mobilization to Angilak commences in March 2026.
    • Exploration activities are slated to begin in late April to early May 2026.
  • 2025 Context: The 2025 exploration program resulted in the discovery of five new uranium showings within the Angikuni basin, in addition to the Lac 50 deposit.
  • Technical Reporting: Scientific and technical information reviewed by Cliff Revering, PEng, VP of Exploration, a Qualified Person under NI 43-101.
  • Land Package: Atha controls 100% of the Angikuni basin (greater than seven million acres) and holds a 10% carried interest in key Athabasca basin projects operated by NexGen Energy Ltd. and IsoEnergy Ltd.

Notable Quotes

  • "The quantum and strong institutional support of the combined financings is recognition of the highly impactful results and project derisking achieved during the 2025 Angilak exploration program."
  • "Atha is now one of the best capitalized uranium explorers globally, with financing secured for multiple exploration campaigns focused at its 100-per-cent-owned Angilak uranium project."
Read the original news release →

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