Stallion Uranium Intersects Elevated Radioactivity and Alteration at Coyote; Continues Expanded Drill Program, Mobilizes Geophysical Survey
Atha’s fully funded 2026 campaign at Angilak will be the largest in the project’s history.
Atha Energy Corp. (SASK) announced on May 5, 2026, that site mobilization is complete and diamond drilling has commenced at its 100%-owned Angilak Uranium Project in Nunavut. The 2026 program represents the company’s largest to date, targeting approximately 20,000 m of drilling using three rigs across three high-priority corridors: Lac 50, RIB, and KU-Nine Iron. An aerial geophysical survey is scheduled for June 2026. The entire program is fully funded by the CAD $63 million financing closed in February 2026.
The news release did not provide new assay results but reiterated findings from 2025, including the RIB North discovery hole, which returned 34.7 m of composite mineralization with grades up to 8.16% U₃O₈. The company also noted a board resignation.
Atha Energy Corp. (SASK) released a routine operations update on May 5, marking the commencement of drilling following the company’s February financing and March mobilization announcements. The market has already priced in the largest-ever Angilak program, and the release did not introduce new drill results or changes to the timeline. A board resignation was noted as minor and personal in nature. The update confirms execution on a previously communicated plan without unexpected developments, with the real value inflection expected from assays, which remain months away.
Atha Energy Corp. is a Canadian uranium exploration company holding a district-scale land package of over 7 million acres across three jurisdictions. Its flagship Angilak Project in Nunavut is 100% owned and hosts the historic Lac 50 Deposit.
During the 2024-2025 drill campaigns, the company discovered multiple new high-grade zones along the RIB Corridor and KU-Nine Iron trend, with grades reaching up to 8.16% U₃O₈. A conceptual exploration target estimates 60.8–98.2 M lbs U₃O₈ at 0.37–0.48% grade, though no compliant resource has been defined.
The company also holds a 10% carried interest on key land in the Athabasca Basin operated by NexGen Energy and IsoEnergy, in addition to assets in the Central Mineral Belt in Labrador.