ATHA Energy Corp. announced plans for its 2024 Exploration Program. At the 100%-owned Angilak Project in Nunavut, the Company will focus on diamond drilling with the objective of deposit expansion and discovery.

In the Athabasca Basin, the Company will be further advancing nine of its 100%-owned projects through a combination of ground and airborne geophysical surveys. The objective of the Athabasca Basin Program is to continue to mature ATHA?s geological understanding within each of its projects, increasing the probability of discovery and optimise capital expenditure during future drill campaigns. Additionally, subject to the completion of the Company?s proposed scheme of arrangement (the Scheme) with 92 Energy Limited (92E), development of 92 Energy?s projects, such as Gemini, which hosts the recently discovered high-grade GMZ showing, will be incorporated into the into the Company?s Athabasca Basin Exploration Program.

The Company will provide an update inclusive of drilling plans for the Gemini project, post closing of the Scheme. Exploration Outlook: Following ATHA?s recent closing of its acquisition of Latitude Uranium and assuming the completion of the Scheme, ATHA expects to have a diversified portfolio of uranium projects across the exploration risk curve. Going forward, ATHA?s exploration approach is designed with the intention of providing 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 discoveries.

With the Company?s recently closed transaction with Latitude and subject to the completion of the Scheme, ATHA intends to leverage its robust cash position to pursue a fully-funded growth strategy with focus on: Deposit and Discovery Expansion: Historical resource deposits at the Angilak Project and CMB Discoveries, as well as, subject to the completion of the Scheme, the GMZ Corridor (host to the Gemini Discovery), remain underexplored and are expected to provide significant resource and discovery expansion potential on a regional scale. Diamond drilling is planned for both Angilak and, subject to the completion of the Scheme, Gemini in Summer 2024. Advanced Exploration: Drill ready targets on a number of advanced projects owned by ATHA and 92E have identified uranium mineralization, with active geophysical surveys informing future exploration programs within the Athabasca and Thelon Basins, as well as at the newly acquired Angilak Project.

Greenfield Exploration: Pro-forma land position of 7.1 million acres across some of the highest-grade uranium districts in the world provide ATHA with a robust pipeline of early-stage projects that are currently undergoing geophysical and geochemical analysis. Angilak Project ? Nunavut: ATHA announced exploration plans for the upcoming 2024 field season at it?s wholly owned Angilak Project, situated within the Angikuni Basin approximately 225 km southwest of Baker Lake in the Kivalliq Region of Nunavut.

The Angilak Project 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. The 2024 Angilak exploration program will consist of diamond drilling, airborne geophysical surveys, and surficial sampling and mapping programs, prioritized to expand the footprint of known uranium mineralization, while also advancing regional exploration targets. Approximately 10,000m of diamond drilling is planned to be completed during the June to August time frame.

Drill targeting will focus 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 which may 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 2023 by Latitude Uranium (acquired by ATHA).

During Latitude?s most recent exploration program completed in the fall of 2023, 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. Athabasca Basin Exploration Program: The Company?s 2024 Athabasca Basin Exploration Program is built upon the results from the maiden 2023 campaign, which saw the completion of 17 EM surveys within ATHA?s 3.8 million acres of mineral claims located in the Athabasca Basin. The objective of the 2024 Exploration program is to further mature nine high-priority project areas with the use of Airborne and Ground geophysical surveys.

The surveys will target each of the Company?s four exploration districts ? North Rim, Cable Bay, East Rim, and West Rim Exploration Districts ? which encompass all currently producing, past producing and developing uranium mining jurisdictions within the Athabasca Basin.

The 2024 Athabasca Basin Exploration Program is already underway and is slated to continue through to the end of Third Quarter 2024. The Program will deploy seven different airborne and ground survey types, consisting of: EM, Mag, Gravity, and ANT. The objective of the 2024 Athabasca Basin Program is to further delineate and refine prospective trends and corridors within Atha?s high-priority project areas in advance of drill testing.