ATHA Energy’S Director of Geodata WINS Top Prize at Future Explorer’S Competition FOR Machine Learning Process
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ATHA ENERGY’S DIRECTOR OF GEODATA WINS TOP PRIZE AT FUTURE
EXPLORER’S COMPETITION FOR MACHINE LEARNING PROCESS
HIGHLIGHTS:
● Drew Heasman, ATHA’s Director Geodata, who leads the Digital Discovery team (other members
are Paul Pearson and John McLellan) won the top prize at the 2023/2024 Future Explorer’s
competition, organized by Humyn AI and funded by Dundee Precious Metals (TSX: DPM).
● The Future Explorer’s competition began in the fall of 2023 with participation from over 200 data
scientists and geoscientist, representing 37 countries.
● The Digital Discovery team won the “Best Overall Award” for combining mineral systems analysis
with machine learning. The process analyzed geological and geophysical data supplied by Dundee,
producing high-probability copper and gold exploration targets proximal to the Chelopech Mine,
located in Bulgaria.
● Drew Heasman has applied a similar process at ATHA’s Central Mineral Belt Projec t, a uranium-
copper IOCG (BHP’s Olympic Dam)-type deposit model, located in Labrador, Newfoundland.
● The CMB Project has numerous copper and uranium occurrences, including two zones with
historical uranium resources. The project is located directly adjacent to Paladin Energy’s Michelin
Deposit that hosts 127.7 M lbs U3O8.
● Results from the Machine Learning Study at the CMB Project have identified numerous high-
priority areas for expansion of known occurrences of uranium and copper zones, as well as high-
priority targets that remain untested.
● The same machine learning process is currently being implemented at ATHA’s Gemini Project; a
high-grade uranium discovery located in Saskatchewan . Results are expected to be received in
advance of the Company’s diamond drill program, scheduled to commence in mid-August 2024.
Vancouver, British Columbia , June 17th , 2024 – ATHA Energy Corp. (TSX.V: SASK) (FRA: X5U) (OTCQB:
SASKF) (“ATHA” or the “Company”), is thrilled to announce that Drew Heasman, ATHA’s Director Geodata,
led the “Digital Discovery” team (other members are: Paul Pearson and John McLellan ) to the first place
prize, Best Overall Award, at the prestigious Future Explorer’s competition funded by Dundee Precious
Metals (TSX: DPM) and organized by Humyn AI. The Future Explorer’s competition began in November of
2023. Over 200 data scientists and geoscientists from 37 countries participated, including many of the
world’s leading geoscience and machine learning experts.
The objective of the competition was the identification of prospective copper and gold exploration targets
proximal to Dundee’s Chelopech Mine, located in Bulgaria, using the best new innovative approach. Digital
Discovery won the compet ition and were awarded US$75,000 for combining mineral systems analysis
with machine learning in a model that generated well -reasoned targets. Drew's winning submission
exemplifies the high standards and creative thinking which is paramount to ATHA Energy and its approach
to exploration at scale. The Company extends its gratitude to D undee Precious Metals for providing this
incredible opportunity and to Humyn AI for their excellent organization of the competition.
At ATHA’s Central Mineral Belt Project (the “CMB Project”) in Labrador, Newfoundland, Drew Heasman,
Director Geodata, applied this award-winning machine learning process to identify and derisk additional
prospective uranium and copper exploration targets . A machine learning study (the “Machine Learning
Study”) at CMB was completed in 2023 when the project was owned and operated by Latitude Uranium.
ATHA subsequently completed its acquisition of Latitude Uranium in March of 2024 , acquiring 100%
ownership in the CMB Project. The Machine Learning Study successfully demonstrated the ability of the
machine learning process to detect previously unknown targets derived from data compilation of surficial
mapping (structure and geology) and variety of geophysical survey types (magnetics and gravity). ATHA is
currently deploying the same process at its Gemini Project, a 100%-owned high-grade uranium discovery
located on the eastern edge of Saskatchewan’s Athabasca Basin. The Machine Learning Study at Gemini
will be completed in advance of the Phase III diamond drilling component of the Company’s 2024
Exploration Program, scheduled to commence in mid-August 2024.
CENTRAL MINERAL BELT PROJECT – NEWFOUNDLAND & LABRADOR
The CMB Project is situated at the western end of Labrador’s Central Mineral Belt, a NE trending, 250 km
long by 75 km wide belt of Proterozoic volcanic and sedimentary rocks with associated granites. It is
developed on an Archean craton consisting of gneisses and granitoid intrusions, mafic or felsic
metavolcanics and minor mafic to ultramafic intrusions. The project is located ~140 km north of the town
of Happy Valley-Goose Bay. It extends from Michikamau Lake eastward to near Makkovik (Figure 1). There
are three post discovery zones of uranium mineralization areas at CMB: Mustang, Moran Lake C Zone and
the Anna Lake Deposit - the latter two have historic resources . The Moran Lake C Zone has an historic
resource of 5.2M lbs U 3O8, 42.8M V2O5 Indicated and 4.4M lbs U3O8, 93.6M lbs V2O5 Inferred, while the
Anna Lake Deposit has an historic resource of 4.91M lbs U3O8 Inferred. The project is adjacent to Paladin
Energy’s Michelin Project, which hosts six uranium deposits for a combined 127.7 M lbs U3O8.
Uranium mineralization is structurally controlled within fractures and shear zones, hosted within strongly
brecciated and altered mafic volcanic rocks and lesser Fe -carbonate-altered shear zones. In addition to
the uranium occurrences, numerous high-grade copper occurrences (grades of up to 7% Cu sampled from
outcrops) have been identified along a parallel trend. The copper mineralization is vein -hosted within
sulphide mineralization, with associated high -grade zinc, lead, and gold mineralization. Significantly, the
high-grade copper occurrences discovered on the surface have never been drill tested; only samples taken
from outcrops have been analyzed.
CENTRAL MINERAL BELT PROJECT – MACHINE LEARNING STUDY
The initial phase of artificial intelligence (AI) exploration targeting implements a machine learning
workflow to identify the potential existence of unknown uranium and copper deposits. This effort was
facilitated by the recent release and compilation of both public and private aeromagnetic, radiometric,
and geological data over the entire Central Mineral Belt. By integrating the Mineral Systems approach,
which focuses on the processes of source, transport, and deposition, the data collection and
interpretation process is enhanced without relying on a single deposit model. Using the locations of
known deposits and prospects, the machine learning algorithm i s trained to objectively predict the
location of deposits without the biases typically associated with specific deposit types. The primary
objective of this data -driven methodology is to reduce targeting risk over the CMB Project at an early
stage, thereby preparing more target areas for direct detection methods such as drilling.
The Machine Learning Study conducted at the CMB Project successfully developed a signature for uranium
and copper based on previously discovered mineral occurrences. Categorized and ranked the inputs for
importance in identifying those signatures. The process then looked at the same inputs over the entire
CMB Project area and identified signatures for uranium and copper mineralization. The results (Figure 1)
show numerous high -priority areas for uranium and copper mineralization that were identified by the
process. These areas include regions for potential expansion at known occurrences for uranium and
copper, as well as high-priority, previously untested areas.
Figure 1: Plan Map detailing the CMB Project location within Newfoundland & Labrador , highlighting
copper and uranium occurrences along with potential priority target areas derived from predictive
machine learning process
GEMINI PROJECT – MACHINE LEARNING STUDY
As part of ATHA Energy’s 2024 Exploration Program , the Company is currently progressing its machine
learning process at the Gemini Project – Phase II Target Development, Optimization, and machine
learning. Results from Phase I Geophysics, in addition to all data collected during previous exploration
programs and an ongoing structural study conducted by SRK Consulting on the controls of uranium
mineralization at GMZ, will be compiled and utilized to produce a detailed 3D geological model of the
GMZ. The 3D g eological model will be coupled with ATHA’s proprietary machine learning process to
further derisk and advance exploration targets at the GMZ and surrounding area prior to commencement
of Phase III – Diamond Drilling.
Troy Boisjoli, CEO added: “On behalf of ATHA’s executive and board, I would like to extend the Company’s
congratulations to Drew and the Digital Discovery team. Their work in combining mineral systems analysis
with responsible machine learning – identifying and derisking exploration targets for critical minerals like
copper – is an innovative approach that puts good geoscience first . The machine learning process that
Drew has developed is particularly relevant for ATHA as we are exploring at scale . The process allows us
to efficiently, and with the highest probability, derisk and identify high-priority targets across our dominant
land packages in the best uranium jurisdictions in Canada, if not globally.”
Cliff Revering, VP Exploration added: “We would like to extend our sincerest congratulations to Drew and
his team for winning this competition. It is always great to see industry recognition for innovative thinking
and leading -edge techniques being successfully developed by a colleague, which are now bringing
substantial value to the evaluation and target generation process on ATHA’s projects.”
JUNIOR EXPLORATION ASSISTANCE PROGRAM – GOVERNMENT OF NEWFOUNDLAND & LABRADOR
ATHA Energy Corp. is also happy to announce the receipt of the Junior Exploration Assistance financial
support from the Government of Newfoundland and Labrador’s Department of Industry, Energy and
Technology Mineral Incentive Program. ATHA Energy Corp. ha s received the full amount of $225,000
allotted for Labrador -based grassroots exploration, consisting of a FALCON® Airborne Gravity
Gradiometry (AGG) Radiometrics survey flown over all claims within ATHA’s CMB Project area in the
summer of 2023. The survey size totaled 21,673.4-line kilometers at 200 m line spacing and deliverables
have been received. The AGG is currently under review and interpretation ongoing to develop target areas
within the CMB Project area.
ATHA ENERGY 2024 EXPLORATION PROGRAM
In January of this year, ATHA Energy Corp. commenced the Company’s most significant exploration
program to date and one of the largest uranium focused exploration programs globally . The program
targets Canada’s most prospective regions for high-grade uranium discovery.
Figure 2: ATHA Energy 2024 Exploration Program Gantt Chart
EXPLORATION OUTLOOK:
The Company’s core objective is the discovery and development of new and expanded uranium deposits
throughout its portfolio of uranium -focused projects. With the acquisition of Latitude Uranium and 92
Energy, ATHA’s portfolio now totals 8.4 million acres across Canada’s three most prospective jurisdictions
for uranium discovery and development. The Company’s portfolio is highly diversified across the
exploration risk curve. With projects ranging from advanced exploration stage, such as Angilak, which
hosts the Lac 50 Deposit – one of the largest, highest -grade uranium deposits outside of the Athabasca
Basin; to post -discovery projects like Gemini – which contains GMZ, a recent shallow, basement -style,
high-grade uranium discovery on the eastern margin of the Athabasca Basin; through to highly prospective
greenfields projects with numerous uranium occurrences and high -priority derisked geophysical targets.
ATHA’s exploration approach is designed to provide maximum exploration exposure by investing at scale
in a large number of early -stage projects, derisking those targets, and seeking to deliver advanced
exploration upside through the expansion of known uranium deposits and additional discoveries. ATHA’s
growth strategy is fully funded based on the Company’s robust cash position.
ENGAGEMENT OF CREATIVE DIRECT MARKETING GROUP INC.
ATHA is also pleased to announce that it has entered into an agreement with Creative Direct Marketing
Group Inc. (“CDMG”), pursuant to which CDMG will provide certain marketing services to the Company
(the “CDMG Agreement”). The services provided by CDMG will be to publish and distribute information
regarding the Company through multiple platforms including digital marketing, email marketing, and by
mail campaigns. The term of the CDMG Agreement is for a period of three months starting on the later of
May 9, 2024, and the date of acceptance of the TSXV for the CDMG Agreement. Pursuant to the GSM
Agreement, an up -front payment of US$ 87,300 was made May 9, 2024, and further payments of
approximately US$680,688 are expected to be made over the 90-day term. As of the date of this news
release, the parties are in the initial onboarding and creative production stage.
CDMG is a full-service marketing services company based in Nashville, Tennessee, United States founded
by Craig Huey, an arm’s length party to the Company and CDMG and its affiliates do not own any securities
of ATHA and to the best of the Company’s knowledge CDMG does not intend to acquire any securities of
ATHA. None of the Company or its officers are involved, directly, with the creation of the materials
distributed by CDMG. The Company will provide CDMG with publicly available source information for their
disclosure and the Company will be involved in reviewing the materials for accuracy prior to their
dissemination.
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 hosting historical resource estimates of 43.3 million lbs and 14.5 million lbs U 3O8
respectively, 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 (8.4 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. 1,2,3.
For more information, please contact:
Troy Boisjoli
Chief Executive Officer
Email: [email protected]
www.athaenergy.com
Historical Mineral Resource Estimates
All mineral resources estimates presented in this news release are considered to be “historical estimates”
as defined under NI 43-101, and have been derived from the following (See notes below). In each instance,
the historical estimate is reported using the categories of mineral resources and mineral reserves as
defined by the CIM Definition Standards for Mineral Reserves, and mineral reserves at that time, and these
“historical estimates” are not considered by ATHA to be current. In each instance, the rel iability of the
historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify
the historical estimate as a current mineral resource, and ATHA is not treating the historical estimate as a
current mineral resource. The historical information provides an indication of the exploration potential of
the properties but may not be representative of expected results.
Notes on the Historical Mineral Resource Estimate for the Angilak Deposit:
1. This estimate is considered to be a “historical estimate” under NI 43-101 and is not considered by any of to be current. See below for further
details regarding the historical mineral resource estimate for the Angilak Property.
a. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
b. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation,
sociopolitical, marketing or other relevant issues.
c. The quality and grade of the reported inferred resource in this estimation are uncertain in nature and there has been insuffi cient
exploration to define these inferred resources as an indicated or measured mineral resource, and it is uncertain if further
exploration will result in upgrading them to an indicated or measured resource category.
d. Contained value metals may not add due to rounding.
e. A 0.2% U3O8 cut-off was used.
f. The mineral resource estimate contained in this press release is considered to be “historical estimates” as defined under NI 43-101
and is not considered to be current.
g. The “historical estimate” is derived from a Technical Report entitled “Technical Report and Resource Update For The Angilak
Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geol. of APEX Geosciences, Robert Sim,
B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davi s, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013 for
ValOre Metals Corp.
h. As disclosed in the above noted technical report, the historic al estimate was prepared under the direction of Robert Sim, P.Geo,
with the assistance of Dr. Bruce Davis, FAusIMM, and consists of three -dimensional block models based on geostatistical
applications using commercial mine planning software. The project limit s area based in the UTM coordinate system (NAD83
Zone14) using nominal block sizes measuring 5x5x5m at Lac Cinquante and 5x3x3 m (LxWxH) at J4. Grade (assay) and geological
information is derived from work conducted by Kivalliq during the 2009, 2010, 2011 and 2012 field seasons. A thorough review
of all the 2013 resource information and drill data by a Qualified Person, along with the incorporation of subsequent exploration
work and results, which includes some drilling around the edges of the historical resource subsequent to the publication of the
2013 technical report, would be required in order to verify the Angilak Property historical estimate as a current mineral resource.
i. The historical mineral resource estimate was calculated in accordance with NI 43 -101 and CIM standards at the time of publication
and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation
of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).
j. A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm r esults
would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.
2. Notes on the Historical Mineral Resource Estimate for the Moran Lake Deposit:
1. Jeffrey A. Morgan, P.Geo. and Gary H. Giroux, P.Eng. completed a NI 43 -101 technical report titled “Form 43-101F1
Technical Report on the Central Mineral Belt (CMB) Uranium Project, Labrador, Canada, Prepared for Crosshair Exploration
& Mining Corp.” and dated July 31, 2008, with an updated mineral resource estimate for the Moran Lake C-Zone along with
initial mineral resources for the Armstrong and Area 1 deposits. They modelled three packages in the Moran Lake Upper
C-Zone (the Upper C Main, Upper C Mylonite, and Upper C West), Moran Lake Lower C -Zone, two packages in Armstrong
(Armstrong Z1 and Armstrong Z3 ), and Trout Pond. These mineral resources are based on 3D block models with ordinary
kriging used to interpolate grades into 10 m x 10 m x 4 m blocks. A cut -off grade of 0.015% U3O8 was used for all zones
other than the Lower C Zone which employed a cut-off grade of 0.035%. A thorough review of all historical data performed
by a Qualified Person, along with additional exploration work to confirm results, would be required to produce a current
mineral resource estimate prepared in accordance with NI 43-101 standards.
3. Notes on the Historical Mineral Resource Estimate for the Anna Lake Deposit:
1. The mineral resource estimate contained in this table is considered to be a “historical estimate” as defined under NI 43 -
101, and is not considered to be current and is not being treated as such. A Qualified Person has not done sufficient work
to classify the historical estimate as current mineral resources. A qualified person would need to review and verify the
scientific information and conduct an analysis and reconciliation of historical drill and geological data in order to verify the
historical estimate as a current mineral resource.
2. Reported by Bayswater Uranium Corporation in a Technical Report entitled “Form 43 -101 Technical Report on the Anna
Lake Uranium Project, Central Mineral Belt, Labrador, Canada”, prepared by R. Dean Fraser, P.Geo. and Gary H. Giroux,
P.Eng., dated September 30, 2009.
3. A 3 -dimensional geologic model of the deposit was created for the purpose of the resource estimate using the
Gemcom/Surpac modeling software. A solid model was created using a minimum grade x thickness cutoff of 3 meters
grading 0.03% U3O8. Intersections not meeting this cutoff were generally not incorporated into the model. The shell of this
modeled zone was then used to constrain the mineralization for the purpose of the block model. Assay composites 2.5
meters in length that honoured the mineralized domains were used to interpolate grades into blocks using ordinary kriging.
An average specific gravity of 2.93 was used to convert volumes to tonnes. The specific gravity data was acquired in-house
and consisted of an average of seventeen samples collected fr om the mineralised section of the core. The resource was
classified into Measured, Indicated or Inferred using semi -variogram ranges applied to search ellipses. All resources
estimated at Anna Lake fall under the “Inferred” category due to the wide spaced drill density. An exploration program
would need to be conducted, including twinning of historical drill holes in order to verify the Anna Lake Project estimate as
a current mineral resource.
Cautionary Statement Regarding Forward-Looking Information