Atha Energy drills uranium at Angilak's Mushroom Lake

Executive Summary

• Atha Energy Corp. released additional drilling results from its 2025 Angilak exploration program in Nunavut, highlighting high-grade uranium mineralization at the Mushroom Lake and KU discoveries.
• The company concluded the 2025 diamond drilling component, which comprised 23 holes totaling 10,774 meters, resulting in five new areas of uranium mineralization along the 31 km RIB-Nine Iron trend.
• Advanced electromagnetic (EM) inversion modeling identified significant rib-style 3D anomalies and prospective structural corridors, with results pending for all mineralized core samples.

Key Details

• Mushroom Lake Discovery (Lac 50 Trend):
  • Two drill holes (ML-DD-013 and ML-DD-014) intersected uranium mineralization along a 1 km strike length.
  • Drill Hole ML-DD-014: Intersected two zones between 334.85 m and 364.45 m.
    • Total composite mineralization: 2.1 m.
    • High-grade zone: 0.2 m.
    • First zone (334.85–335.95 m): Average radioactivity 2,830 cps, max 7,659 cps.
    • Second zone (363.45–364.45 m): Average radioactivity 8,045 cps, max 23,365 cps.
• KU Discovery (RIB-Nine Iron Trend):
  • Five additional drill holes completed to follow up on initial discovery hole KU-DD-001.
  • Drill Hole KU-DD-004: Intersected eight zones of uranium mineralization between 478.05 m and 583.45 m.
    • Total composite mineralization: 10.4 m.
    • Thickest zone (480.65–483.45 m): Average radioactivity 1,674 cps, max 5,805 cps.
• Program Statistics:
  • Total 2025 program: 23 diamond drill holes, 10,774 meters.
  • Resulted in five new areas of uranium mineralization along the 31 km RIB-Nine Iron trend.
• Geophysics & Targeting:
  • Expert Geophysics Ltd. completed 3D EM inversion modeling of 2024 MMT survey data.
  • Modeling covered the northeastern Angikuni basin, including the Lac 50 trend and sections of the RIB-Nine Iron trend (KU to Nine Iron).
  • Identified numerous high-priority targets and structural complexities similar to the drill-tested RIB mineralized corridor (MRC).
• Assay Status:
  • All mineralized core samples submitted to Saskatchewan Research Council (SRC).
  • Analysis includes multielement suite, boron, and uranium by fluorimetry.
  • Results are pending; anticipated within Q4 2025.

Notable Quotes

• Troy Boisjoli, CEO: "The successful results from Mushroom Lake and KU discovery continue to demonstrate the Angilak difference. The 2025 Angilak exploration program was an unprecedented success with five new discoveries along the RIB-Nine Iron trend and the effective application of EM inversion providing a road map to discovery."
• Cliff Revering, VP Exploration: "The 3-D inversion modeling of the 2024 MMT survey data... has proven to be a highly reliable tool for mapping prospective structural corridors tied to uranium mineralization and has substantially enhanced our targeting strategy."

Additional Administrative Details

• Market-Making Services: Atha engaged ICP Securities Inc. to provide market-making services.
  • Fee: $7,500 per month plus taxes.
  • Effective Date: November 3, 2025.
  • Term: Initial three months, auto-renewing monthly.