ATHA Energy at Angilak Project Intersects High-Grade Uranium Mineralization at Mushroom Lake, Additional Results from Ku Discovery, and Identifies Significant Rib- Style 3D EM Inversion Anomalies
ATHA ENERGY AT ANGILAK PROJECT INTERSECTS HIGH-GRADE
URANIUM MINERALIZATION AT MUSHROOM LAKE, ADDITIONAL
RESULTS FROM KU DISCOVERY, AND IDENTIFIES SIGNIFICANT RIB-
STYLE 3D EM INVERSION ANOMALIES
HIGHLIGHTS
• At Mushroom Lake – situated along the Lac 50 Trend and outside of the Lac 50 Exploration
Target3 area – the Company successfully completed two drill holes targeting the depth
extent of uranium mineralization identified in outcrops over a 3 km strike length;
• Both drillholes successfully intersected uranium mineralization along 1 km of strike , with
drilling highlighted by:
o Drillhole ML -DD-014: intersected two zones of uranium mineralization between
334.85 m and 364.45 m, with total composite mineralization of 2.1 m, including 0.2
m of high- grade mineralization2. The first zone (334.85 to 335.95 m) had average
radioactivity of 2,830 counts per second ( CPS1) and a maximum reading of 7,659
CPS1 measured on the downhole gamma probe. The second zone (363.45 to 364.45
m) had average radioactivity of 8, 045 CPS1 and a maximum reading of 23,365 CPS 1
(Figure 4).
• At the KU Discovery – situated within the 31 km RIB -Nine Iron Trend – the Company
successfully completed an additional five drillholes, following up on the initial discovery
hole KU-DD-001 (See June 24th, 2025, News Release);
• Additional drillhole results from KU are highlighted by:
o Drillhole KU-DD-004: intersected eight zones of uranium mineralization between
478.05 m and 583.45 m, with total composite mineralization of 10.4 m2. The thickest
zone of mineralization was intersected between 480.65 and 483.45 m, with average
radioactivity of 1,674 CPS1 and a maximum reading 5,805 CPS1 (Figure 7).
• The 2025 Program’s unparalleled success directly corresponds to ATHA’s exploration
approach, which has unlocked the geological controls hosting uranium mineralization at
Angilak along the RIB-Nine Iron Trend. Expert Geophysics Ltd.’s Advanced Electromagnetic
Inversion (“EM Inversion”) modeling of its MMT survey data has proven successful in
identifying prospective structural corridors associated with uranium mineralization;
• EM Inversion modeling is now complete over the northeastern section of the Angikuni
Basin, inclusive of the Lac 50 Trend and sections of the RIB -Nine Iron Trend – from the KU
Discovery to the Nine Iron Discovery (Figure 2a & b).
o Lac 50 Trend: The EM Inversion modelling proved successful in mapping structural
corridors hosting the currently defined footprint of mineralization outlined in the
Exploration Target. Outside of the Lac 50 Exploration Target area , numerous areas
with structural complexities similar to the Mineralized RIB Corridor (MRC), have
been identified and remain untested (Figure 2a);
o KU Discovery – Nine Iron: Beyond the current discoveries at KU and Nine Iron ,
numerous areas of intense structural complexity, similar to the MRC , have been
identified and remain untested (Figure 2b);
• ATHA has now conclude d the diamond drilling component of its high ly impactful 2025
Angilak Exploration Program, which successfully tested regional exploration targets outside
of the Lac 50 Exploration Target area;
• 2025 Angilak Exploration Program comprised twenty -three diamond drillholes totaling
10,774 m and resulted in the discoveries of five new areas of uranium mineralization along
the 31 km RIB-Nine Iron Trend;
• All mineralized drill core samples have been submitted for analysis and assay results are
pending. The Company anticipates receiving results from other components of the 2025
Angilak Exploration Program within Q4 2025.
Troy Boisjoli, CEO commented: “The successful results from Mushroom Lake and KU Discovery continue
to demonstrate the Angilak difference. The 2025 Angilak Exploration Program was an unprecedented
success with five new discoveries along the RIB -Nine Iron Trend and the effective application of EM
Inversion providing a road map to discovery. The Company has transformed the Angilak Uranium
Project and set the stage for what will be a catalyst filled 2026. At a time when the world is looking to
stable jurisdictions to supply the Nuclear Renaissance with the raw materials it needs to make it
happen, ATHA Energy is primed to help answer those demands.”
Cliff Revering, VP Exploration added: “The 2025 Angilak exploration program was designed with two
core objectives: expanding the mineralization footprint at the Lac 50 deposit and advancing two high-
priority regional targets - KU and RIB - located along the RIB –Nine Iron Trend. The program not only
met these objectives but also exceeded expectations, yielding multiple new discoveries at both KU and
RIB. A key highlight was the identification of a 12 km-long structural corridor associated with uranium
mineralization, anchored by the significant new discovery at RIB North.
The 3D inversion modeling of the 2024 MMT survey data, developed by Expert Geophysics, has proven
to be a highly reliable tool for mapping prospective structural corridors tied to uranium mineralization
and has substantially enhanced our targeting strategy. The most recent 3D inversion model covering
the Lac 50, KU, and Nine Iron areas, further highlights numerous prospective trends and structural
complexities comparable to those already drill -tested and confirmed within the RIB mineralized
corridor.
With the successful completion of the 2025 Angilak exploration program, I want to extend my gratitude
to our dedicated employees, contractors, and service providers. Their commitment enabled us to
achieve these significant technical milestones while upholding the highest standards of safety and
environmental stewardship. At ATHA, we firmly believe that technical success must go hand -in-hand
with rigorous safety and environmental practices, and we deeply value the effort and professionalism
of everyone involved in our operations.”
Vancouver, British Columbia , November 5th, 2025 – ATHA Energy Corp. (TSX.V: SASK) (FRA: X5U )
(OTCQB: SASKF) (“ATHA” or the “Company”), is pleased to announce additional drilling results from
the 2025 Angilak Exploration Program at its 100%-owned Angilak Uranium Project in Nunavut, Canada.
The drillhole results are from two areas: the Mushroom Lake Discovery, situated along the Lac 50
Trend, and the KU Discovery, located along the RIB-Nine Iron Trend. At the Mushroom Lake Discovery,
two drillholes were completed, ML -DD-013 and ML -DD-014, both of which intersected uranium
mineralization. At the KU Discovery, five additional drillholes were completed, all designed to follow-
up on the initial discovery drillhole KU-DD-001 (See June 24th, 2025, News Release).
The Company is also pleased to announce the results from the latest round of Expert Geophysics Ltd.’s
Advanced Electromagnetic Inversion (“EM Inversion”) modeling of its 2024 MMT survey data. The
Company focused on modelling the northeastern section of the Angikuni Basin, inclusive of the Lac 50
Trend and sections of the RIB -Nine Iron Trend – from the KU Discovery to the Nine Iron Discovery .
Across the Lac 50 Trend and the RIB-Nine Iron Trend, the EM Inversion modeling highlights prospective
trends coincident with identified uranium mineralization drill tested in 2025. Furthermore, the latest
round of modeling has identified numerous additional high-priority targets within the project area.
Figure 1: Angilak Project Area – 2025 Exploration Target Area (Black Rectangles), Mineralized RIB Corridor (Red
Rectangles), & Mapped Historic Mineralized Showings
Figure 2a: 2025 Angilak Exploration Program – EM Inversion Model & Drill Collar Locations from KU Discovery
area, along the RIB-Nine Iron Trend.
Figure 2b: 2025 Angilak Exploration Program – EM Inversion Model & Drill Collar Locations from Mushroom
Lake. Situated along the Lac 50 Trend.
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 218 650
*RIBE-DD-
001
RIB-Nine
Iron
RIB
East 145 -55 497928 6929449 270 443
*RIBE-DD-
002
RIB-Nine
Iron
RIB
East 145 -55 497766 6929322 271 345
*RIBE-DD-
003
RIB-Nine
Iron
RIB
East 145 -63 497524 6929337 271 398
*RIBE-DD-
004
RIB-Nine
Iron
RIB
East 145 -60 497404 6920180 271 428
*RIBE-DD-
005
RIB-Nine
Iron
RIB
East 155 -65 497530 6929401 270 472
*RIBE-DD-
006
RIB-Nine
Iron
RIB
East 145 -60 497670 6929501 273 491
*RIBE-DD-
007
RIB-Nine
Iron
RIB
East 325 -50 497798 6929101 274 467
*RIBE-DD-
008
RIB-Nine
Iron
RIB
East 325 -55 498284 6929287 264 464
*RIBW-
DD-001
RIB-Nine
Iron
RIB
West 150 -50 495831 6929490 274 503
*RIBW-
DD-002
RIB-Nine
Iron
RIB
West 145 -55 497766 6929322 271 380
*RIBW-
DD-003
RIB-Nine
Iron
RIB
West 325 -55 497645 6930031 275 347
*RIBN-
DD-001
RIB-Nine
Iron
RIB
North 300 -65 499574 6929887 261 623
*RIBS-DD-
001
RIB-Nine
Iron
RIB
South 150 -50 495747 6927640 277.5 377
KU-DD-
002
RIB-Nine
Iron
KU
Target 30 -70 515525 6936210 251 616
KU-DD-
003
RIB-Nine
Iron
KU
Target 30 -70 515758 6936059 268.5 56
KU-DD-
003A
RIB-Nine
Iron
KU
Target 30 -68 515758 6936059 268.5 605
KU-DD-
004
RIB-Nine
Iron
KU
Target 30 -60 515757 695641 255 602
KU-DD-
005
RIB-Nine
Iron
KU
Target 210 -70 515980 6935734 256 302
KU-DD-
006
RIB-Nine
Iron
KU
Target 30 -70 514794 6935805 275 647
ML-DD-
013 Lac 50 ML
Target 25 -50 523968 6939404 215 551
ML-DD-
014 Lac 50 ML
Target 25 -50 524869 6939109 206 407
*Previously released drillholes from 2025 Angilak Exploration Program
Figure 3: Striplog ML-DD-013 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole
Probe1 & 2.
Figure 4: Striplog ML-DD-014 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole
Probe1 & 2.
Figure 5: Striplog KU-DD-002 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole
Probe1 & 2.