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Atha Energy Corp Reports Preliminary Diamond Drilling Results from 2026 Angilak Exploration Program At Rib North Discovery
ATHA Energy Corp. had announced preliminary diamond drilling results from the 2026 Angilak Exploration Program at its 100%-owned Angilak Uranium Project in Nunavut, Canada. The first eight diamond drillholes completed at the RIB North Discovery – as part of the recently commenced 2026 Angilak Exploration Program – have outlined continuity of mineralization at the primary RIB North area – located along the eastern limb of the MRC, along strike from RIBN-DD-001 – by +300 m. Additionally, the Company has discovered a secondary, east-west mineralized structure along the western limb of the Mineralized RIB Corridor (“MRC”) approximately 1 km from the main RIB North Discovery Area. At the RIB North Discovery drilling is focused on widely spaced step-outs, designed to outline the continuity of uranium mineralization at RIB North – the discovery remains open in all directions. Six of the eight holes released intersected uranium mineralization with results highlighted by drillhole RIBN-DD-003, which successfully targeted uranium mineralization ~120 m along strike to the Northwest from RIBN-DD-001, resulting in the intersection of 37.0 m of total composite uranium mineralization over fifteen zones from 541.7 m to 652.0 m. The widest mineralized interval was 8.5 m of composite mineralization from 541.7 m to 550.2 m with an average reading of 696 CPS and a max of 4,612 CPS. The highest-grade interval resulted in 4.5 m of composite mineralization from 571.7 m to 576.2 m with an average reading of 4,589 CPS and a max of 14,773 CPS, including over 1.0 m of high-grade mineralization. Drillhole RIBN-DD-008 successfully targeted uranium mineralization along secondary east-west horizon 1 km away from the primary RIB North Discovery area. RIBN-DD-008, intersected 14.0 m of total composite uranium mineralization over nine zones from 398.0 m to 646.0 m. Two zones containing high-grade mineralization were intersected, the first from 427.0 m to 429.5 m with an average reading of 2,529 CPS including 20 cm of high-grade mineralization with a max reading of 11,798 CPS. The second was intersected from 436.0 m to 438.5 m with an average reading of 2,711 CPS including 10 cm of high-grade reading 11,725 CPS. Drillhole RIBN-DD-009 is on-going but has thus far successfully targeted uranium mineralization 100 m up-dip from RIBN-DD-003. RIBN-DD-009, intersected 17.5 m of total composite uranium mineralization over six zones from 298.5 m to 516.5 m. The widest zone intersected 14.5 m of continuous mineralization with an average reading of 1,507 CPS including 20 cm of high-grade mineralization with a maximum reading of 13,807 CPS. Mineralization at RIB North has now been discovered on two separate horizons. The bulk of drilling to date, following up on the maiden discovery hole RIBN-DD-001, is located on the eastern limb of the MRC, with continuity of mineralization now outlined over 300 m. The secondary horizon was discovered by RIBN-DD-008 and is located on the western limb of the MRC. Mineralization at both the primary and secondary mineralized horizons is basement hosted vein style uranium mineralization, associated with strong albite and hematite alteration, graphitic + sulphide-bearing structures and overprinting silicification – similar in style and widths observed in Athabasca basement hosted deposits. The successful follow-up results demonstrate ATHA’s geological model and understanding on controls of mineralization at RIB are proving accurate. Over the remainder of the 2026 Angilak Exploration Program, the Company will continue its systematic approach, targeting widely spaced drilling to define the extent of the mineralized footprint at RIB North. The 2026 Angilak Exploration Program is largest to date on the project, comprising two components: First, diamond drilling, which commenced operations on May 1st, 2026, scheduled to continue through the end of September. The Company will complete ~20,000 m, utilizing three diamond drill rigs. Second, aerial geophysics, comprising Expert’s MMT survey, scheduled to start early July, with resulting 3D Inversion Modeling to be completed by Fourth Quarter 2026. With diamond drilling the Company intends to test the following areas: Mineralized RIB Corridor: Additional discovery potential and expansion, following up on the highly successful 2025 program, which resulted in the four discoveries of uranium mineralization – including RIB North, where the maiden hole intersected 34.7 m of composite uranium mineralization with grades up to 8.16% U3O8 over 0.5 m; Lac 50 Deposit Corridor: Testing recently identified, highly prospective, 3D Inversion targets along strike from the main Lac 50 Deposit area, and expansion of the Lac 50 Deposit mineralization footprint which remains open and unconstrained. KU-Nine Iron Corridor: Testing recently identified, highly prospective, 3D Inversion targets, which directly vector from uranium mineralization intersected in the 2025 KU and historic Nine Iron Discoveries. While the geophysics portion of the program is designed to provide additional targets to the Company’s portfolio, and consists of: Angikuni Basin: Acquiring full MMT coverage across the 100% ATHA-owned Angikuni Basin. The resulting survey data will be used to develop a 3D Inversion model of the entire Angikuni Basin, the same highly successful systematic approach ATHA utilized during its 2025 campaign, adding to ATHA’s already extensive portfolio of regional targets. A Mount Sopris 40TGU-1000 Triple Gamma Geiger down hole probe was utilized for radiometric surveying. The Company considers high-grade mineralization to be any interval with radioactivity derived from downhole gamma probe >10,000 CPS. The total gamma results provided were selected using an average cutoff of >300 CPS over intervals of 0.1 metre width. Mineralization was previously described as >500 CPS, however, based on assay results from 2024 & 2025, the Company has now lowered that threshold to >300 CPS, as typical results above 300 CPS return grades above 0.01% 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.