ATHA Energy Corp. announced radioactivity results from six diamond drill holes completed as part of the Company's inaugural 2024 Angilak Exploration Program at its 100%- owned Angilak Project in Nunavut. Phase I of the 2024 Angilak Exploration Program is comprised of approximately 10,000 m of diamond drilling targeting the expansion of high-grade uranium mineralization outside of the historic resource footprint at the Lac 50 Deposit.

The initial six holes total 2,817.6 m and target the expansion of the Main Zone, Eastern Extension, and the J4 & Ray Zone along the Lac 50 Trend at the Lac 50 Deposit. Angilak Project - Nunavut, The Angilak Project is situated within the Angikuni Basin, approximately 225 km southwest of Baker Lake in the Kivalliq Region of Nunavut 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 ATHA's 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 currently underway, focused on expansion of the historic footprint at the Lac 50 Deposit's Main Zone, Western Extension, Eastern Extension, and J4 & Ray Zone, as well as expansion of the recently identified parallel mineralized Tuff Horizons.

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. During Latitude's most recent exploration program, the Company reported uranium drill hole intersections targeting the Main Zone showing grades of up to 7.54 % U3O8 over 1.6 m from hole 23-LC-005. The 2024 Angilak Exploration Program is part of the Company's overall 2024 Exploration Program and consists of Phase I (diamond drilling) and Phase II (geophysics & ground geochemistry).

As of the end of June, six holes have been drilled outside the historic Lac 50 Mineral Resource footprint and successfully intersected uranium mineralization, demonstrating the expansion potential at the Angilak Project These six holes represent the beginning of the 2024 Angilak Exploration Program, with more than 7,000 m of ongoing drilling remaining Drilling highlights: All six holes successfully expanded the footprint of uranium mineralization at the Main Zone, Eastern Extension, and the J4 & Ray Zones, which represent the historic zone of mineralization at the Lac 50 Deposit. The six holes targeted parallel Tuff Horizons that were first identified by Latitude Uranium. At the Main Zone and the Ray Zone, shallow (<150 m depth) high-grade uranium mineralization was intersected within these newly defined Tuff Horizons.

These shallow, high-grade intersections provide evidence supporting the Company's thesis that the Lac 50 Trend hosts a stacked lens system similar to basement-hosted uranium deposits in the Athabasca Basin, such as Cameco's Eagle Point Mine. Drill hole MZ-DD-175 successfully intersected uranium mineralization 80 m along strike to thewest of the Main Zone at the Lac 50 Deposit, as well as intersecting four additional parallel Tuff Horizons. Highlights include Intersected Tuff MZ_004, which returned intermittent radioactivity from 75 m to 84.5 m depth with an average 1,685 counts per second over 9.5 m and a peak of 21,940 CPS over 0.1 m. Uranium mineralization was also intersected in four additional intervals, including Tuff MZ_001 between 366 m to 375 m depth, where the hole intersected intermittent mineralization averaging 1,736 CPS over 9.0m and a peak of 9,026 CPS over 0.1 m. Drill hole J4R-DD-085 successfully intersected uranium mineralization down-dip from Tuff J4R_001 in the J4 Zone at the Lac 50 Deposit in addition to intersecting two other parallel Tuff Horizons (Tuff J4R_002 and Tuff J4R_003).

Highlights include Intersected Tuff J4R_003, which returned mineralization from 111.5 m to 113 m depth with an average 14,248 counts per second (CPS) over 1.5 m and a peak of 70,823 CPS over 0.1 m. Uranium mineralization was also intersected in two additional intervals, including Tuff J4R_002 between 426 m to 429.5 m depth where the hole intersected intermittent mineralization averaging 4,944 CPS over 3.5 m and a peak of 32,854 CPS over 0.1 m. Phase II (geophysics & ground geochemistry): Scheduled to begin in August of 2024, ATHA will undertake a targeted airborne geophysics program comprised of electromagnetic ("EM"), Mag, and VLF survey types, in addition to targeted ground geochemistry sampling and mapping. The objective of Phase II is to identify and derisk a pipeline of additional high-priority targets for future exploration programs.