ATHA Energy Confirms New High-Grade Discovery at Angilak Project – Rib North, Maiden Hole Returns Assays with 34.7 M of Total Composite Uranium Mineralization, with 13.6 M Grading 0.53% U3O8 Including 1.1 M Grading 4.81% U3O8 and
ATHA ENERGY CONFIRMS NEW HIGH-GRADE DISCOVERY AT ANGILAK
PROJECT – RIB NORTH, MAIDEN HOLE RETURNS ASSAYS WITH 34.7 M
OF TOTAL COMPOSITE URANIUM MINERALIZATION, WITH 13.6 M
GRADING 0.53% U3O8 INCLUDING 1.1 M GRADING 4.81% U3O8 AND
GRADES UP TO 8.16% U3O8
HIGHLIGHTS
• Assays confirm the Company’s maiden drillhole, RIBN-DD-001, at the RIB North Discovery
as the best exploration hole drilled to date at the Angilak Uranium Project;
• RIBN-DD-001 assays returned total composite uranium mineralization 1 of 34. 7 m
encompassing seven zones from 287.0 m to 439.9 m (Figure 4) – surpassing what was
reported in the release of preliminary results (September 23rd, 2025, News Release);
• The widest continuous intersection in the hole – from 426.3 to 439.9 – returned 13.6 m of
composite uranium mineralization1 grading 0.53% U3O8, including 1.1 m grading 4.81% U3O8
with the highest-grade sample returning 8.16% U3O8 over 0.5 m;
• Mineralization was first intersected in the sandstone over three intervals (between 287.0 m
and 351.1 m). The fourth zone was intersected directly above the unconformity (located at
356.7m), extending into graphitic basement rock below. The additional three wide st
intersections are basement hosted vein style uranium mineralization, associated with
strong hematite alteration, graphitic structures and overprinting silicification – similar in
style and widths observed in Athabasca Basin basement hosted deposits;
• RIB North Discovery is situated along the 4.4 km eastern limb of the Mineralized RIB Corridor
(“MRC”) – a 12 km trend containing stacked structural anomalies , identified using 3 D EM
Inversion modeling. During the 2025 Angilak Exploration Program these anomalies were
drill tested, resulting in a 100% success rate of intersecting uranium mineralization, and the
discovery of four new mineralized areas: RIB East, West, North and South (Figures 2 & 3);
• The nearest drilling to RIBN-DD-001 occurred ~1.4 km along strike at the RIB East Discovery
and 1.8 km along strike at the RIB West Discovery area s – both holes intersected uranium
mineralization, however, the extension of the structural corridor hosting RIB North
mineralization remains untested and highly prospective (Figures 3);
• All 2025 mineralized drill core samples have been submitted to the Saskatchewan Research
Council (SRC) Geoanalytical Laboratory for analysis. The Company anticipates disclosing all
remaining assay results within Q4 2025.
Troy Boisjoli, CEO commented: ”During my career as an exploration geologist I have had the pleasure
of working in some of the world ’s premier regions for discovery of uranium mineralization – such as
the Patterson Lake and Rabbit Lake corridors. With that experience, I cannot recall a maiden hole into
a target area that returned an intersection this significant, with assays surpassing our expectations.
The grades and thicknesses, the style of mineralization, along with the pathfinder elements and
geophysical signatures are all present at the RIB North Discovery. The confirmation of the MRC as an
important corridor at the Angilak project – in addition to Lac 50 Deposit Trend , and numerous other
showings – reinforces the blue-sky potential that Angikuni Basin could be the next Athabasca Basin. At
a time when the Canadian Government is looking to advance mineral resource projects and strengthen
infrastructure in the north. The Angilak Uranium Project is just getting started.”
Cliff Revering, VP Exploration added: “We are extremely pleased with the recently received assay
results from RIBN-DD-001, our first drill hole into this target area, which have exceeded the extent and
scale of uranium mineralization indicated by our preliminary downhole gamma probe data.
Intersecting 34. 7 metres of composite uranium mineralization , including a 1. 1-metre interval
averaging 4.81% U₃O₈, clearly demonstrates the significant scale and high -grade potential present in
this zone.
The Mineralized RIB Corridor, anchored by the results of RIBN -DD-001, represents an exciting new
discovery along the RIB –Nine Iron Corridor within the Angikuni Basin and reinforces the exploration
thesis we have pursued since acquiring the Angilak Project in 2024. Our 2025 drilling, combined with
the 3D inversion model from the 2024 MMT survey across the northern Angikuni Basin and Lac 50
Deposit areas, has now identified numerous highly prospective trends and untested targets ,
positioning us for a compelling 2026 exploration campaign.
Our conviction that the Angikuni Basin is an emerging uranium district with strong potential for
additional high-grade uranium discoveries continues to grow as we advance our exploration strategy.”
Vancouver, British Columbia , November 20th, 2025 – ATHA Energy Corp. (TSX.V: SASK) (FRA: X5U)
(OTCQB: SASKF) (“ATHA” or the “Company”), is pleased to ann ounce assay results from the maiden
drillhole at the RIB North Discovery, completed as part of the 2025 Angilak Exploration Program at its
100%-owned Angilak Uranium Project in Nunavut, Canada. Assay results from RIBN-DD-001 represent
the best exploration hole to date at the Angilak Project, intersecting a total of 34. 7 m of composite
uranium mineralization1 over seven zones, from 287 m to 439.9 m depth. The highest grade and widest
continuous interval of mineralization was intersected from 426.3 to 439.9 m depth, grading 0.53%
U3O8 including 8.16% U3O8 over 0.5 m (Figure 4).
The RIB North Discovery is situated along the 4.4 km eastern limb of the Mineralized RIB Corridor
(“MRC”) – a 12 km trend containing stacked structural anomalies, identified using 3D EM Inversion
modeling. During the 2025 Angilak Exploration Program these anomalies were drill tested, resulting in
a 100% success rate of intersecting uranium mineralization, and the discovery of four new mineralized
areas: RIB East, West, North and South.
The nearest drilling to RIBN-DD-001 occurred ~1.4 km along strike at the RIB East Discovery area and
1.8 km along strike at the RIB West Discovery area – both holes intersected uranium mineralization,
however, the extension of the structural corridor hosting RIB North mineralization remains untested
and highly prospective (Figures 1, 2, & 3).
Figure 1: Angilak Project Area – 2025 Exploration Target Area (Black Rectangles), Mineralized RIB Corridor (Red
Rectangles), & Mapped Historic Mineralized Showings
Figure 2: 2025 Angilak Exploration Program – EM Inversion Model & Drill Collar Locations from MRC, along the
RIB-Nine Iron Trend.
Figure 3: 2025 Angilak Exploration Program – Isometric schematic of the MRC, displaying EM Inversion model
and 2025 drilling.
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 4: Striplog RIBN-DD-001 showing mineralized interval with composite uranium mineralization1 with
average grades – derived from assay samples.
Assay Samples
1.Composite mineralization is calculated using a 0.01% U 3O8 cutoff with a maximum internal dilution
of 1.5 m.
2The Company considers high-grade mineralization to be any interval over 1% U3O8.
All drill intercepts are core width and true thickness is yet to be determined.
Core samples are submitted to the Saskatchewan Research Council (SRC) Geoanalytical Laboratories
in Saskatoon. The SRC facility is ISO/IEC 17025:2005 accredited by the Standards Council of Canada
(scope of accreditation #537). The samples are analyzed for a multi-element suite using partial and
total digestion inductively coupled plasma methods, for boron by Na2O2 fusion, and for uranium by
fluorimetry.
References for Historic Diamond Drilling Results and Surficial Sampling
3For additional information regarding ATHA’s Angilak Project please refer to the Technical Report
entitled “Technical Report on the Angilak Property, Nunavut, Canada” with an effective date of
October 14, 2025, prepared by Matt Batty, MSc, P. Geo, who is a “qualified person” under NI 43-101,
available under ATHA’s SEDAR+ profile at www.sedarplus.ca.
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
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
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.
For more information, please contact:
Troy Boisjoli
Chief Executive Officer
Email: [email protected]
Website: www.athaenergy.com
Phone: 1-(236)-521-0526
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian
securities legislation. Generally, forward -looking information can be identified by the use of forward -
looking terminology such as “plans”, “expects” or “do es not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “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” or “will be taken”, “occur” or “be achieved”. These forward -looking statements or
information may relate to ATHA’s proposed exploration program, including statements with respect to
the expected benefits of ATHA’s proposed exploration program, any results that may be derived from
ATHA’s proposed exploration program, the timing, scope, nature, breadth and other information
related to ATHA’s proposed exploration program, any results that may be derived from the
diversification of ATHA’s portfolio, the prospects of ATHA’s projects, including mineral resources
estimates and mineralization of each project, the prospects of ATHA’s business plans and any
expectations with respect to defining mineral resources or mineral reserves on any of ATHA’s projects,
and any expectation with respect to any permitting, development or other work that may be required
to bring any of the projects into development or production.
Forward-looking statements are necessarily based upon a number of assumptions that, while
considered reasonable by management at the time, are inherently subject to business, market and
economic risks, uncertainties and contingencies that may cause actual results, performance or
achievements to be materially different from those expressed or implied by forward -looking
statements. Such assumptions include, but are not limited to, assumptions that the anticipated
benefits of ATHA’s proposed exploration program will be realized, that no additional permit or licenses
will be required in connection with ATHA’s exploration programs, the ability of ATHA to complete its
exploration activities as currently expected and on the current anticipated timelines, including ATHA’s
proposed exploration program, that ATHA will be able to execute on its current plans, that ATHA’s
proposed explorations will yield results as expected, and that general business and economic
conditions will not change in a material adverse manner. A lthough ATHA has attempted to identify
important factors that could cause actual results to differ materially from those contained in forward-
looking information, there may be other factors that cause results not to be as anticipated, estimated
or intended. There can be n o assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking information.
Such statements represent the current view of ATHA with respect to future events and are necessarily
based upon a number of assumptions and estimates that, while considered reasonable by ATHA, are
inherently subject to significant business, economic, compe titive, political and social risks,
contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following:
inability of ATHA to realize the benefits anticipated from the exploration and drilling targets described
herein or elsewhere; in ability of ATHA to complete current exploration plans as presently anticipated
or at all; inability for ATHA to economically realize on the benefits, if any, derived from the exploration
program; failure to complete business plans as it curre ntly anticipated; overdiversification of ATHA’s
portfolio; failure to realize on benefits, if any, of a diversified portfolio; unanticipated changes in
market price for ATHA shares; changes to ATHA’s current and future business and exploration plans
and the strategic alternatives available thereto; growth prospects and outlook of the business of ATHA;
and the ability to advance the Company projects and its proposed exploration program; risks inherent
in mineral exploration including risks related worker saf ety, weather and other natural occurrences,
accidents, availability of personnel and equipment, and other factors; aboriginal title; failure to obtain
regulatory and permitting approvals; no known mineral resources/reserves; reliance on key
management and other personnel; competition; changes in laws and regulations; uninsurable risks;
delays in governmental and other approvals, community relations; stock market conditions generally;
demand, supply and pricing for uranium; and general economic and political conditions in Canada,
Australia and other jurisdictions where ATHA conducts business. Other factors which could materially