ATHA Energy Announces Results from Large-Scale Electromagnetic Survey Program ON North Terra and North Pinnacle Projects
ATHA ENERGY ANNOUNCES RESULTS FROM LARGE-SCALE ELECTROMAGNETIC SURVEY PROGRAM ON
NORTH TERRA AND NORTH PINNACLE PROJECTS
Vancouver, British Columbia, September 27, 2023 – ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB:
SASKF) (“ATHA” or the “Company”) is pleased to announce results from its large-scale electromagnetic
(“EM”) surveys at its 100%-owned North Terra Project and North Pinnacle Project (the “Projects”), located
in Saskatchewan’s Athabasca basin, within the Company’s North Rim Exploration District.
These two completed surveys are part of the Company’s maiden 2023 exploration program, which
comprises a total of seventeen EM surveys being conducted across the Athabasca Basin on ATHA’s 3.4-
million-acre exploration portfolio . The 2023 exploration program is organized into four distinct
exploration districts: North Rim District, East Rim District, West Rim District, and Cable Bay District –
encompassing numerous producing, past producing, and developing uranium mining camps within the
Athabasca Basin. In August of this year, the Company commenced the largest ever multi -platform EM
survey in the history of the Athabasca Basin, designed to de -risk and test ATHA’s land package , which is
the largest reported land package in the history of the Athabasca Basin and further complimented by
ATHA’s 10% carried interests on claims within the Athabasca Basin held by NexGen Energy Ltd. (TSX: NXE)
and IsoEnergy Ltd. (TSX‐V: ISO).
Figure 1: ATHA Energy Land Package & Exploration Districts
HIGHLIGHTS
• Axiom’s XciteTM Heli TDEM survey was successfully depl oyed at the North Pinnacle and North
Terra Projects, with a total of 7,166-line km flown in two blocks;
• Numerous conductors with interpreted cross -cutting structures were identified in both Projects,
which are indicative of traps capable of hosting uranium mineralization and in total, 20 km of high-
priority conductive lineaments have been identified within t he North Terra and North Pinnacle
Projects;
• At the North Terra Project, some prospective targets were identified within 20 km in both
directions from Fond du Lac , a historical unconformity-type uranium zone discovered along the
same structural corridor in the 1970s; and
• Grease River Shear Zone which crosses both of the North Terra and North Pinnacle Projects has a
number of identified uranium occurrences, including the Fond du Lac Zone.
Troy Boisjoli, CEO of ATHA commented: “These results are the beginning of what we anticipate to be a
very active exploration period for ATHA as we kick off the initial stages of a systematic discovery process
across our expansive exploration portfolio . The formation and strategic purpose of ATHA was to be a
specific response to the fundamental strength of the uranium cycle we are currently experiencing, and
our contention is that in order to provide the greatest probability of exploration success, we need to begin
with a targeted exploration program in the highest -grade uranium basin in the world and at significant
scale.”
Doug Adams, VP Exploration added: “The immediate results from these surveys identified a structural
corridor with local ized complexity related to northwest tending structural lineation. The interpreted
structural regime is an analog to the Fond du Lac Zone that was discovered in the 1970’s. With that in
mind the intersection pattern along the Grease River Shear Zone identi fies potential targets for
subsequent geophysical or geochemical surveys along the Grease River to the east and west from the
known zone.”
NORTH RIM EXPLORATION PROGRAM
Historic exploration at the North Rim began in the early to mid 1900’s with production ending at mines
located near Uranium City once the Eldorado mining and milling facility closed in the early 1980’s.
Uranium in the Beaverlodge mining district is structurally controlled with mineralization found in vein-
filled fractures, breccias, and faults. The North Rim District remains highly prospective and is vastly under
explored with modern exploration techniques. Furthermore, mining method innovation , proximity to
surface, and the presence of existing infrastructure contribute to the prospectivity of this district.
The North Rim District’s exploration program covers a total of 688,268 acres of 100% ATHA owned claims
using a combination of Xcite TM, TDEM, ZTEM, MMT, and QMAG t survey types. The objective of the EM
program is to identify prospective conductive units such as graphitic sheers and mapping of lithological
contacts, which will then be targeted for further investigation. The graphitic sheers are typically formed
in pelitic host rock which are known traps for uranium mineralization in the Athabasca Basin.
North Terra and North Pinnacle Projects encompass a large area of the Grease River Shear Zone, a major
structural corridor in the North Rim Exploration district. The XciteTM system was able to identify multiple
northwest trending structural lineaments along the Grease River Shear Zone that are potential ly
analogous to the structural controls that define mineralization at the Fond du Lac Zone.
The recently completed EM surveys at No rth Terra and North Pinnacle Projects, along with the currently
ongoing surveys at North Valour, North Summit, North Beacon, and North Crest notably represent the
first modern exploration work on the projects in over fifty years.
Figure 2: Initial Survey Results Over North Pinnacle and North Terra
Qualified Person
The scientific and technical information contained in this news release as it relates to the Claims have
been reviewed and approved by Doug Engdahl, P.Geo., a "qualified person" as defined under National
Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About ATHA
ATHA is a mineral exploration company focused on the acquisition, exploration , and development of
mineral resource properties. ATHA holds the largest cumulative ex ploration package in the Athabasca
Basin, the world’s most prominent basin for uranium discoveries, with 3.4 million acres along with a 10%
carried interest portfolio of claims operated by NexGen Energy Ltd. (TSX: NXE) and IsoEnergy Ltd. (TSX‐V:
ISO).
For more information visit www.athaenergy.com
For more information, please contact:
Troy Boisjoli
Chief Executive Officer
Email: [email protected]
1-306-460-5353
www.athaenergy.com
View ATHA’s corporate presentation and connect with us on Twitter, LinkedIn, and Instagram.
Forward-Looking Information and Statements
Certain information in this news release constitutes forward -looking information. In some cases, but not
necessarily in all cases, forward -looking information can be identified by the use of forward -looking
terminology such as "plans," "targets," "expects" or "does not expect," "is expected," "an opportunity
exists," "is positioned," "estimates ," "intends," "assumes," "anticipates" or "does not anticipate" or
"believes," or variations of such words and phrases or state that certain actions, events or results "may,"
"could," "would," "might," "will" or "will be taken," "occur" or "be achieved." I n addition, any statements
that refer to expectations, projections or other characterizations of future events or circumstances
including, without limitation, statements regarding expectations towards the mineral exploration
activities of ATHA and expectat ions regarding the results from the recently completed EM surveys all
constitute forward-looking information. Statements containing forward -looking information are not
historical facts but instead represent management's expectations, estimates and projecti ons regarding
future events.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates
that, while considered reasonable by ATHA as of the date of this news release, are subject to known and
unknown risks, uncertai nties, assumptions and other factors that may cause the actual results, level of
activity, performance or achievements to be materially different from those expressed or implied by such
forward-looking information, including but not limited to risks regarding the uncertain nature of mineral
exploration; volatility and sensitivity to market metal prices; imprecisions in survey results; environmental
risks including increased regulatory burdens; unexpected geological conditions; adverse mining conditions;
commodity pricing; stock market volatility and general market conditions; changes in global and regional
demand for products; the business prospects of ATHA, competition; inflation; trade uncertainties as a
result of, among other things, the COVID -19 pandemic, the Russian-Ukrainian war and changes to global
trade restrictions and tariffs; the availability of credit on commercially reasonable terms; foreign exchange
risks; legal and regulatory risks (including changes in law or regulation); risks related to relationships with
stakeholders including any first nations or aboriginal groups; costs of inputs; weather and other acts of
god and their impact on activities proposed to by carried on by ATHA; and the factors described in greater
detail in the "Risk Factors" section of ATHA’s final prospectus dated March 23, 2023 available at
www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect
ATHA; however, these factors should be considered carefully. There can be no assurance that such
estimates and assumptions will prove to be correct. The forward-looking statements contained in this news
release are made as of the date of this news release, and ATHA expressly disclaims any obligation to update
or alter statements containing any forward-looking information, or the factors or assumptions underlying
them, whether as a result of new information, future events or otherwise, except as required by law.
Neither the CSE nor its regulation services provider has reviewed or accepted responsibility for the
adequacy or accuracy of this release.