ATHA Energy Final Assays from 2025 Angilak Exploration Program Confirm High-Grade Discoveries at Ku and Mushroom Lake Targets – Grades up to 1.56% U3O8 and 1.10% U3O8, Respectively, and Expansion of Mineralization at the LAC 50 Deposit with Grades up to 1.47% U3O8
ATHA ENERGY FINAL ASSAYS FROM 2025 ANGILAK EXPLORATION
PROGRAM CONFIRM HIGH-GRADE DISCOVERIES AT KU AND
MUSHROOM LAKE TARGETS – GRADES UP TO 1.56% U3O8 AND
1.10% U3O8, RESPECTIVELY, AND EXPANSION OF MINERALIZATION
AT THE LAC 50 DEPOSIT WITH GRADES UP TO 1.47% U3O8
HIGHLIGHTS
• Final assays from the 2025 Angilak Exploration Program at the Company’s 100% -owned
Angilak Uranium Project, located in Nunavut, Canada (Figure 1), confirm high-grade uranium
mineralization at the KU and Mushroom Lake Targets, as well as expansion of the J4/Ray
zone mineralization beyond the 2024 Lac 50 Deposit Exploration Target area (Figure 2);
• Recently completed 3D MMT Inversion modeling (“ 3D Inversion ”) across the Angilak
Uranium Project – the 3D Inversion led to the successful discoveries across the Mineralized
RIB Corridor , including the RIB North Discovery ( See News Release) – highlighting an
abundance of additional highly prospective exploration targets along the Mineralized RIB ,
Lac 50 Deposit, and KU-Nine Iron Corridors (Figure 2);
KU Discovery (KU-Nine Iron Corridor)
• Located within the 14 km long KU-Nine Iron Corridor, the Company completed a total of six
diamond drillholes as part of the successful 2025 Angilak Exploration Program (the
“Program”), intersected uranium mineralization on five of six holes;
• The widespread uranium mineralization identified at the KU Discovery area indicates a
much larger mineralizing system is at play, vectoring towards high-priority targets identified
by the 3D Inversion;
• The Program tested a prominent stacked EM and gravity anomal y located within the
Angikuni Basin at the western margin of the KU -Nine Iron Corridor , resulting in the
intersection of widespread uranium mineralization within the sandstone . After the
completion of the 2025 Angilak Exploration Drill Program, the recent 3D Inversion has
identified several large highly prospective anomalies along trend from the KU Discovery;
• Drilling results are highlighted by:
o Drillhole KU-DD-001 (Figure 3), which intersected total composite mineralization1 of
15.1 m, from 85.0 m down to a depth of 502.6 m. This includes a shallow interval of
uranium mineralization from 85.0 m to 87.0 m containing high-grade mineralization2
of 1.56% U3O8 over 0.5 m;
o Drillholes KU-DD-003 (Figure 4) & ‘004 (Figure 5), both drilled along strike to the
north of ‘001, intersected widespread uranium mineralization with 20.5 m of
composite minerali zation1 from 178.0 m to 534.1 m, and 24.6 m of composite
mineralization1 from 478.3 m to 583.9 m, respectively;
Mushroom Lake (Lac 50 Deposit Corridor)
• Located within the 21 km long Lac 50 Deposit Corridor, outside of the Lac 50 Exploration
Target area . The Company completed a total of two diamond drillholes , intersecting
uranium mineralization over a 1 km strike length;
• The holes successfully tested the depth extent of uranium mineralization identified in
outcrops over a 3 km strike;
• Drilling results are highlighted by:
o Drillhole ML-DD-014 (Figure 6), which intersected total composite mineralization 1
of 2.5 m, from 335.3 m down to a depth of 364.2 m, including an intersection of
high-grade mineralization2 of 1.10% U3O8 over 0.5 m;
J4/Ray Zone (Lac 50 Deposit Corridor)
• Located within the 21 km long Lac 50 Deposit Corridor the Company completed one
diamond drillhole which successfully intersected high-grade uranium mineralization
expanding the footprint of mineralization beyond the Exploration Target area.
• Drilling results are highlighted by:
o Drillhole J4R-DD-091 (Figure 7), which intersected total composite mineralization 1
of 5.6 m, from 42.4 m down to a depth of 570.2 m, including an intersection of high-
grade mineralization2 of 1.47% U3O8 over 0.5 m;
Troy Boisjoli, CEO commented: “The final assay results from ATHA’s 2025 Angilak Exploration Program
– focused on derisking regional mineralized corridors across the Angilak Uranium Project – continue to
demonstrate the robust metal endowment across the project. Over the last two years t he Company
has identified and systematically derisked three mineralized corridors across Angilak.
At the MRC, with only thirteen diamond drillholes, the Company has already made four discoveries
across an 18 km strike which remains open and unconstrained, including RIB North, where the maiden
hole is one of the best discovery holes in the uranium sector over the last number of years. When the
results from the MRC are paired with those from the Lac 50 Deposit and the KU-Nine Iron Corridors, it
starts to paint a picture of a potential uranium district . And speaks to ATHA’s ability to execute on
exploration at scale. With our recent combined financing completed in January the Company is now
fully capitalized, and ready to unlock Angilak’s potential over 2026.”
Cliff Revering, VP Exploration added : “The 2025 exploration campaign at Angilak delivered
outstanding results, further demonstrating the significant potential of the project. Drilling reinforced
the expansion upside of the J4/Ray zone mineralization within the Lac 50 deposit and led to the
discovery of additional high- grade mineralization in the Mushroom Lake area. Importantly, the
program also yielded new high- grade discoveries within both the KU and RIB regional target areas,
underscoring the broader district-scale opportunity emerging across the Angikuni Basin.
These achievements underscore the effectiveness of ATHA’s disciplined and data- driven targeting
strategy implemented since acquiring the project in early 2024. The 2025 success rate is a strong
validation of our technical approach and speaks to the excepti onal exploration upside that remains
within this basin.
As we advance Angilak, each phase of work continues to demonstrate the scale, continuity, and
exploration potential of this emerging uranium district. Ongoing technical programs aimed at refining
and de -risking priority targets, combined with our successful financing completed in early 2026,
position ATHA for a transformative and highly impactful 2026 exploration campaign.”
Vancouver, British Columbia , February 26 th, 2026 – ATHA Energy Corp. ( TSX.V: SASK) (FRA: X5U)
(OTCQB: SASKF) (“ ATHA” or the “ Company”), is pleased to announce final assays results from its
successful 2025 Angilak Exploration Program at its 100%-owned Angilak Uranium Project in Nunavut,
Canada (Figure 1). Today’s announcement details assay results for nine diamond drillholes completed
along the Lac 50 Deposit Corridor and the KU-Nine Iron Corridor – assay results for thirteen diamond
drillholes completed at the MRC were previously released (See November 20 th, and December 10th,
2025, News Releases).
Along the Lac 50 Deposit Corridor (Figure 2) two areas outside of the Exploration Target were tested;
at Mushroom Lake, two diamond drillholes were completed, successfully test ing the depth extent of
uranium mineralization identified in the 3 km long outcrop, intersecting uranium mineralization over
a 1 km strike length. At the J4/Ray Zone, one drillhole was completed and successfully expanded the
envelop of mineralization.
At the KU-Nine Iron Corridor (Figure 2), the Company successfully targeted the KU area where five of
six drillholes intersected uranium mineralization . The Program tested a prominent stacked EM and
gravity anomaly located within the Angikuni Basin at the western margin of the KU-Nine Iron Corridor,
resulting in the intersection of widespread uranium mineralization within the sandstone and
basement rocks. The widespread mineralization identified at the KU Discovery area indicates a much
larger mineralizing system is at play, vectoring towards high-priority targets identified by the recently
completed 3D Inversion.
The 2025 Angilak Exploration Program focused on highly prospective target areas along the three
currently identified mineralized corridors:
1. Lac 50 Deposit Corridor: Located just outside the northern margin of the Angikuni Basin, the
corridor is 21 km long, hosts the Lac 50 Deposit and remains open and unconstrained with
numerous additional uranium showings. Drilling in 2025 focused on expansion of the
mineralization envelope beyond the Exploration Target area, as well as discovery of
mineralization at depth below the 3 km long Mushroom Lake mineralized outcrop.
• The Lac 50 Deposit has a 2024 Exploration Target ranging from 60.8 M lbs to 98.2 M lbs
with an average grade range from 0.37% U3O8 to 0.48% U3O8. The stated potential
quantity and grade is conceptual in nature, and there has been insufficient exploration to
define a mineral resource, and it is uncertain if further exploration will result in the target
being delineated as a mineral resource. The conc eptual target for further exploration is
based on available diamond drillhole data including the 2024 drill program results, and
the ranges of potential quantity and grade were derived from conceptual vein wireframes,
drill core assays, grade interpolation and applied uncertainty ranges. The Angilak Project
technical report can be accessed on the Company’s SEDAR+ profile at www.sedarplus.ca;
2. KU-Nine Iron Corridor: Located within northern section of the Angikuni Basin, currently
defined as 14 km prospective long corridor, extending from the KU Discovery to the Nine-Iron
area.
3. Mineralized RIB Corridor: Located within the western edge of the Angikuni Basin, currently
defined as 18 km long, where mineralization has been identified from the Historic RIB
showing3 in the south through to an additional four showings discovered during the 2025
Angilak Exploration Program, including RIB North Discovery, where the maiden drillhole,
RIBN-DD-001, returned assays with 34.7 m of t otal composite uranium mineralization1,
including 13.6 m g rading 0.53% U₃O₈, 1.1 m grading 4.81% U₃O₈, and grades up to 8.16%
U₃O₈ over 0.5 m.
Detailed lithologic striplogs, including assay results tables, for all nine drillholes can viewed in the
Supplementary Release on ATHA Energy’s website (Striplog Data).
Figure 1: Angilak Uranium Project Location – Nunavut, Canada
Figure 2: Angilak Uranium Project – Black Rectangles Denote the Three Currently Defined
Mineralized Corridors: Lac 50 Deposit, Mineralized RIB, and KU-Nine Iron Corridors
Figure 3: Striplog KU-DD-001 showing mineralized interval with composite uranium
mineralization1 with average grades – derived from assay samples.
Figure 4: Striplog KU-DD-003 showing mineralized interval with composite uranium
mineralization1 with average grades – derived from assay samples.
Figure 5: Striplog KU-DD-004 showing mineralized interval with composite uranium
mineralization1 with average grades – derived from assay samples.