Atha Energy Corp. Provides Update on Completed, Ongoing, and Pending Geophysical Surveys Conducted as Part of the Company's 2024 Exploration Program
Program, which covers all of ATHA's Athabasca Basin projects with aerial EM and MAG. The objective of Phase I is to identify high-priority targets that will then undergo additional testing and derisking during Phase II. Phase I was completed during the first half of 2024. Phase II builds on the results from the maiden 2023 Exploration Program in addition to the results from Phase I. Projects where high-priority targets were identified are undergoing additional testing with geophysical systems such as QMAGt, MMT, Gravity, and ANT survey types. These additional surveys will further characterize and derisk previously identified high-priority targets and help to identify additional areas of interest. As part of Phase II the Company has completed four surveys across four projects on two of its Exploration Districts. One survey is ongoing with two additional surveys commencing mid-May. The Company is in the process of analyzing results that will then be evaluated and prioritized for testing during future drill programs. The Company's core objective is discovery and development of its portfolio of uranium-focused projects. With the acquisition of Latitude Uranium and 92 Energy, ATHA's portfolio now totals 8.1 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, like 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. The scientific and technical information contained in this news release have been reviewed and approved by Cliff Revering, P.Eng., the Vice President, Exploration of ATHA, who is a "qualified person" as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.