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ATHA Announces Filing of a Final Short Form Prospectus

Financings

Not for distribution to U.S. news wire services or dissemination in the United States.

ATHA Announces Filing of a Final Short Form Prospectus

Vancouver, British Columbia, October 31, 2025 – ATHA Energy Corp. (TSX.V: SASK) (FRA: X5U)

(OTCQB: SASKF) (“ATHA” or the “Company”), is pleased to announce that, further to its press release

dated October 21, 2025, the Company has filed its final short form prospectus (the “Prospectus”) with

the securities commissions in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and New

Brunswick and been issued a receipt (the “Receipt”) by the British Columbia Securities Commission, as

principal regulator, in connection with the qualification of up to 18,838,752 units (the “ Units”) of the

Company issuable upon the exercise or deemed exercise of 17,126,138 special warrants (“ Special

Warrants”) of the Company issued in connection with its previously announced private placement.

In connection with the filing of the Prospectus and issuance of the Receipt, the Company has also issued

a direction to Odyssey Trust Company, as special warrant agent, (the “ Special Warrant Agent ”)

pursuant to the special warrant indenture dated September 18, 2025 between the Company and the

Special Warrant Agent to convert all 17,126,138 Special Warrants issued and outstanding into

17,126,138 Units. Each Unit shall consist of one common share in the capital of the Company and one

common share purchase warrant of the Company exercisable to acquire one additional common share

in the capital of the Company at an exercise price of $0.65 until September 18, 2028.

A copy of the Prospectus is available under the Company’s SEDAR+ profile at www.sedarplus.ca.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities

in the United States. The securities have not been and will not be registered under the United States

Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not

be offered or sold within the United States unless registered under the U.S. Securities Act and applicable

state securities laws or an exemption from such registration is available.

About ATHA

ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of

uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including

three 100%-owned post discovery uranium projects (the A ngilak Project located in Nunavut, and CMB

Discoveries in Labrador, and the newly discovered basement hosted GMZ high-grade uranium discovery

located in the Athabasca Basin). In addition, the Company holds the largest cumulative prospective

exploration land package (>7 million acres) in two of the world’s most prominent basins for uranium

discoveries – ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key

Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. For more

information visit www.athaenergy.com.

On Behalf of the Board of Directors

Troy Boisjoli, CEO, ATHA Energy Corp.

About ATHA

visit www.athaenergy.com.

For more information, please contact:

Troy Boisjoli

Chief Executive Officer

Email: [email protected]

Website: www.athaenergy.com

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Phone: 1-(236)-521-0526

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

release.