ATHA Energy Expands Angilak Project with Acquisition of Entire Future Corridor

HIGHLIGHTS:

• ATHA Energy has expanded its land package at the Angilak Project, acquiring the entire potential Lac 50 structural corridor and an additional potential parallel corridor. Both potential corridors are associated with the Snowbird Tectonic Zone, a deep crustal structure that extends from the Athabasca Basin, home to some of the largest and highest-grade uranium deposits in the world, to the Angikuni Basin, home to the Lac 50 Uranium Deposit.
• The company has staked an additional 69,704 hectares across 48 mineral claims, bringing the Angilak project to 158,447 hectares.
• The Angilak Project hosts the Lac 50 uranium deposit (the “Lac 50 trend”), one of the largest high-grade deposits outside the Athabasca Basin, with a historical mineral resource estimate of 43.3 million pounds at an average grade of 0.69% U₃O₈.¹ Drilling conducted in 2023 by Latitude Uranium at the Angilak project intersected grades of up to 7.54% U₃O₈ more than 1.6 m.
• The 2024 Angilak exploration program has been completed after twenty-five diamond drills were completed between early June and late August, totaling ~10,051 m. The program was very successful and within budget.
• All objectives were successfully achieved, including the extension of the historical mineralisation footprint along the Lac 50 Trend and the identification of new parallel mineralised trends, the Lac 48, Lac 52 and Lac 54 Trends.
• The new mineral claims strengthen ATHA’s dominant position along potential structural corridors associated with the Snowbird Tectonic Zone. In addition, the new claims capture the margins of the Angikuni Basin, which continues to hold promise for the discovery of an unconformity-style uranium deposit.

VANCOUVER, British Columbia, September 19, 2024 (GLOBE NEWSWIRE) — ATHA Energy Corp. (TSX.V: SASK) (FR: X5U) (OTCQB: SASKF) (“ATHÉ” or the “Company”), holder of the largest uranium exploration portfolio in two of the highest grade uranium districts in the world, is pleased to announce the completion of the deployment of additional claims on the Company’s 100% owned Angilak Project in Nunavut. The Angilak Project area now comprises 158,447 hectares. The claims were deployed following the Company’s highly successful maiden drilling program that was completed in late August 2024. With the additional ownership, the Company now controls the entire prospective Lac 50 structural corridor and an additional parallel corridor, both associated with the Snowbird Tectonic Zone. These claims represent prospective continuations of known mineralized trends associated with the Snowbird Tectonic Zone and margins surrounding the Angikuni Basin, which are expected to host unconformity-style mineralization.

Figure 1: Map detailing the location of the Angilak Project in Nunavut¹