­ ATHA Energy Corp. announced that the Company has commenced Phase I (diamond drilling) of its 2024 Angilak Exploration Program at its 100%-owned Angilak Project in Nunavut. Phase I is comprised of ~10,000 m of diamond drilling targeting the expansion of high-grade uranium mineralization at the Lac 50 Deposit and adjacent mineralized zones. The Angilak Project is situated within the Angikuni Basin, approximately 225 km southwest of Baker Lake
in the Kivalliq Region of Nunavut (Figure 1) and is host to the Lac 50 Uranium Deposit, which has a historical mineral resource estimate of 43.3M lbs at an average grade of 0.69% U3O8.1 The 2024 Angilak exploration program consists of diamond drilling, airborne geophysical surveys, and surficial sampling and mapping programs that prioritize the expansion of the footprint of known uranium mineralization, while also advancing regional exploration targets. Approximately 10,000 m of diamond drilling is planned to be completed during the June to August time frame, with drill targeting focused on the Lac 50 Deposit and mineralized corridor ­ targeting expansion of the deposit footprint both along strike and down-dip, as well as testing parallel structures that host uranium mineralization. Diamond drilling will also test additional regional targets that have been identified through past exploration campaigns ­ the most recent of which was completed in the fall of 2023 by Latitude Uranium ("Latitude") (acquired by ATHA). During Latitude's most recent exploration program, the company reported uranium drill hole intersections with grades of up to 7.54 % U3O8 over 1.6 m from hole 23-LC-005, which targeted the Lac 50 Deposit. 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. 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.