Atha Energy Unveils Comprehensive 2024 Exploration Program Targeting Uranium Deposits

Atha Energy has announced detailed plans for its 2024 Exploration Program with significant focus on the Angilak Project in Nunavut and multiple projects within the Athabasca Basin. The company's phase one program at Angilak will commence in June 2024 with an intensive 10,000-meter diamond drilling campaign primarily targeting expansion of the Lac 50 Deposit, which demonstrates openness in all directions. This substantial drilling effort aims not only to enhance the existing deposit but also to identify potential new discoveries in the surrounding area.

Beyond the Lac 50 expansion, Atha Energy will conduct exploration drilling on high-priority targets located on parallel structures to Lac 50, areas previously identified as prime candidates for hosting uranium mineralization. The company's comprehensive approach includes planning for Phase II activities that will feature an airborne geophysics program incorporating electromagnetic, magnetic, and very low frequency survey types. This advanced geophysical work will be complemented by targeted ground geochemistry sampling and mapping activities designed to identify and de-risk additional high-priority targets for future exploration campaigns.

In the world-renowned Athabasca Basin, Atha Energy will advance nine of its 100%-owned projects through a combination of ground and airborne geophysical surveys. The company intends to leverage these sophisticated techniques to deepen geological understanding across each project, thereby increasing discovery potential while optimizing capital allocation for future drilling programs. The exploration strategy emphasizes systematic advancement of multiple properties to build a robust pipeline of drill-ready targets.

Atha Energy's exploration portfolio will be further strengthened by the potential incorporation of the Gemini project, pending completion of the proposed scheme of arrangement with 92 Energy Limited. The Gemini project features the recently discovered high-grade GMZ showing, which holds significant promise for uranium development. Following successful transaction completion, Atha Energy plans to provide comprehensive updates including detailed drilling plans for the Gemini project, integrating it seamlessly into the company's broader exploration program. This strategic expansion demonstrates Atha Energy's commitment to building a diversified portfolio of high-potential uranium assets across multiple jurisdictions.