ATHA Discovers Mineralization Within the Angikuni Basin IN First Hole at Ku Target and Drilling at LAC 50 Deposit Extends Mineralization
ATHA DISCOVERS MINERALIZATION WITHIN THE ANGIKUNI BASIN
IN FIRST HOLE AT KU TARGET AND DRILLING AT LAC 50 DEPOSIT
EXTENDS MINERALIZATION
HIGHLIGHTS
• Completes first two drill holes of its 2025 Angilak Exploration Program comprising ~10,000m
of diamond drilling.
• KU Discovery Target:
o The maiden drill hole , KU -DD-001 successfully targeted stacked gravity and
structural anomalies (Figure 2), intersecting shallow high -grade uranium
mineralization as well as numerous zones of lower-grade mineralization throughout
the hole. The hole intersected total composite mineralization of 7.1 m, including a
continuous shallow zone (between 84.95 m and 87.45 m) of 0.7 m of high -grade
mineralization that had max radioactivity up to 18,490 CPS (Figures 3 & 4).
o The initial drilling at the KU Discovery Target confirms the Company’s thesis that the
31 km long RIB-Nine Iron corridor is prospective for hosting uranium mineralization
within the Angikuni Basin.
o The KU Discovery target is located within the Angikuni Basin, approximately 3 km
from the northern margin, where historical trench sampling returned grades up to
30.7% U3O8.
o In May 2025, ATHA completed a ground gravity and electromagnetic (EM) survey,
designed to vector in on priority targets along the highly prospective 31 km Rib-Nine
Iron Trend, under cover of the Angikuni Basin – a direct analog to the Athabasca
Basin.
o At KU, the survey identified a large – 2 km long by 500 m wide geophysical gravity
anomaly. Additionally, a geological structural study was completed in May by SRK
Consulting, highlighting numerous interpreted NW -SE faults and cross cutting E-W
faults. The gravity survey demonstrates the identified anomalies are coincident with
the modeled faults, and the historical high-grade surficial mineralization.
• Lac 50 Deposit:
o The first hole targeted the J4/Ray zones located along the Lac 50 T rend (Figure 2).
The hole successfully extended mineralization down-dip by ~100 m, demonstrating
that the Lac 50 Deposit remains open and unconstrained, both along strike and at
depth.
o J4R-DD-0091 intersected 3.8 m of composite mineralization including 0.4 m of
>10,000 CPS up to a max of 14,826 CPS (Figure 5).
• The 2025 Angilak Exploration Program will continue to target expansion of the mineralized
envelop at the Lac 50 Deposit while also testing regional targets along the RIB -Nine Iron
Corridor.
Troy Boisjoli, CEO commented: “The results from our first two diamond drill holes completed as part
of the 2025 Angilak Exploration Program highlight two things. First, the robust metal endowment at
the Angilak Uranium Project, and second, the successful systematic exploration approach of our world
class technical team. The discovery of a new zone of mineralization on a maiden drill hole in a new
area and the continued expansion at the Lac 50 Deposit is truly remarkable . Both confirm the
Company’s exploration thesis , substantially derisking the numerous prospective regional targets,
providing a roadmap for executing on successful discoveries. All this at a time when the macro thesis
for uranium as the fuel for the New Nuclear Renaissance is top of mind for the world. ATHA Energy and
our Angilak Project is well positioned to be a critical player in this cycle.”
Cliff Revering, VP Exploration added: “ Since acquiring the Angilak Project in April 2024, we have
focused on developing our understanding of the regional geology, structural architecture and
mineralization controls within the Lac 50 Deposit area and Angikuni Basin. As a result, our first hole in
the KU target area not only intersected a significant mineralized structural corridor, but also a large
graphitic fault breccia zone displaying substantial vertical displacement of the basin unconformity –
geological conditions which are extremely favorable for deposition of unconformity -related uranium
mineralization. Our thesis of the Angikuni Basin being an emerging uranium district and highly
prospective for discovery of additional uranium deposits continues to unfold.”
Vancouver, British Columbia, June 24th, 2025 – ATHA Energy Corp. (TSX.V: SASK) (FRA: X5U) (OTCQB:
SASKF) (“ATHA” or the “ Company”), is pleased to ann ounce results for the first two diamond drill
holes completed as part its 2025 Angilak diamond drill exploration program at its 100%-owned Angilak
Uranium Project, Nunavut.
The maiden drill hole at the KU Discovery Target intersected five zones of uranium mineralization,
including a shallow high-grade lense. The results demonstrate the Company’s thesis that the Angikuni
Basin is a direct analog to the Athabasca Basin, and that the 31 km RIB- Nine Iron Trend remains
prospective for additional discoveries. At the Lac 50 Deposit, the first hole drilled at the J4/Ray Zone
along the Lac 50 Trend intersected four zones of uranium mineralization, expanding the down -dip
extents of the envelop of mineralization. J4R -DD-091 demonstrates that the Lac 50 Deposit remains
open and unconstrained.
Figure 1: Angilak Project Area – 2025 Exploration Target Area (Black Rectangles) & Mapped Historic
*Notes:
I Previous operators of the Angilak Project completed 24 diamond drill holes in the Dipole Showing
and intersected grades of up to 5.53% U3O8 over 0.5 m3
II Along the western margin, historic drilling at the RIB Discovery intersected shallow (<25 m depth)
mineralization with grades of up to 5.6% U3O81, hosted within graphitic pelitic rocks with Athabasca
style alteration
III Mushroom Lake surface outcrop spans an area of 3 km on surface with historical outcrops samples
grading up to 47.8% U3O84 & 6
IV Nine-Iron showing with 5 historical diamond drill holes. Intersections of shallow uranium
mineralization, grades up to 1.25% U3O8 and historical outcrops with grades up to 30.3% U3O83
Figure 2: Angilak Project Area – 2025 Drill Collar Locations
Table 1: 2025 Angilak Exploration Program Drill Collar Information
Hole ID Trend Zone
Azimut
h (°)
Dip
(°)
Easting
(mE)
Northing
(mN)
Elevation
(m)
Final
Depth (m)
KU-DD-
001
RIB-Nine
Iron
KU
Target 30 70 515830 6936190 256.5 599
J4R-DD-
091 Lac 50 J4/Ray 25 57 522295 6938558 218.0 650
Figure 3: KU-DD-001 Cross-section displaying interpreted structure and downhole drill results
Figure 4: Striplog KU-DD-001
Figure 5: Striplog J4R-DD-091
Disclaimer for Historical Drilling and Outcrop Samples
Certain noted technical information provided herein has been derived exclusively and without
independent verification from the following reports. Such information is historical in nature and is not
considered by the Company to be current. In each case, the reliability of the historical information is
considered reasonable by the Company . The historical information provides an indication of the
exploration potential of the properties but may not be representative of expected results. Readers
should read the entirety of such noted reports to fully understand the nature of the information
referenced herein. S amples, including, without limitation, outcrop samples, by their nature, are
selective in nature and significant variations may be seen from sample to sample. Accordingly, sample
information may not be representative of the true underlying mineralization.
References for Historic Diamond Drilling Results
1. Papish, N.Z. 1978. 1978 Diamond Drill Report, Keewatin District N.W.T. Yathkyed Lake Area.
Noranda Exploration company Assessment Report. March 6, 1979. A copy of such report is
available on the website of the Government of Nunavut at https://nunavutgeoscience.ca/en/.
2. Dufresne, M.B., Sim, R. and Davis B., (201 3). Technical report And Resource Update for the
Angilak Project, Kivalliq Region, Nunavut. Technical Report prepared on behalf of Kivalliq
Energy Corporation, March 1st, 2013. A copy of such report is available on the SEDAR+ profile
of Kivalliq Energy Corporation at www.sedarplus.com.
3. Dufresne, M.B. and Schoeman, P. (2023). Technical report on the Angilak Project, Kivalliq
Region, Nunavut. Technical Report prepared on behalf of ATHA Energy Corp. and Labrador
Uranium Inc., January 31st, 2024. A copy of such report is available on the SEDAR+ profile of
the Company at www.sedarplus.com.
References for Historic Surficial Sampling
4. Ward, j., Maynes, A., McNie, E., Forbes, A. and Stacey, J. 2012. Report on 2010 and 2011
Exploration Activity on Kivalliq Corporation’s Angilak IOCG- Uranium Property, Keewatin
District, Nunavut. Kivalliq Energy Corporation Assessment Report. A copy of such report is
available on the website of the Government of Nunavut at https://nunavutgeoscience.ca/en/.
5. Dufresne, M.B., Sim, R. and Davis B., (201 3). Technical report And Resource Update for the
Angilak Project, Kivalliq Region, Nunavut. Technical Report prepared on behalf of Kivalliq
Energy Corporation, March 1st, 2013. Copy of such report is available on the SEDAR+ profile
of Kivalliq Energy Corporation at www.sedarplus.com
6. Dufresne, M.B. and Schoeman, P. (2023). Technical report on the Angilak Project, Kivalliq
Region, Nunavut. Technical Report prepared on behalf of ATHA Energy Corp. and Labrador
Uranium Inc., January 31, 2024. A copy of such report is available on the SEDAR+ profile of the
Company at www.sedarplus.com.
Qualified Person
The scientific and technical information contained in this news release have been reviewed and
approved by Cliff Revering, P.Eng., Vice President, Exploration of ATHA, who is a “qualified person” as
defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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 Angilak Project located in Nunavut, and CMB