ATHA Energy Hits Record 37M Uranium at Rib North

• Beyond the RIB North Discovery, the Company intends to follow-up on the additional RIB East, West, and South Discoveries from its successful 2025 Exploration campaign. The entire 18 km Mineralized RIB Corridor remains open and unconstrained.

Troy Boisjoli, CEO commented: "The initial results from the Mineralized RIB and Lac 50 Deposit Corridors continue to reinforce our belief that Angilak represents one of the most compelling uranium exploration opportunities in Canada, if not globally. Successfully outlining continuity of mineralization over significant step-outs speaks to the scale of the system we are exploring along with our technical team's exceptional ability to execute. These results represent only the initial results of the Company's largest exploration to date at the Angilak Uranium Project. Our 2026 Exploration Program is executing the drilling component with multiple drill rigs, all of which are intersecting mineralization. Considering that the entire 18 km MRC, 21 km Lac 50 Deposit, and the 14 km KU-Nine Iron Corridors completely unconstrained, is something truly unique - ATHA is just starting to unlock Angilak's potential."

Cliff Revering, VP Exploration added: "We are very encouraged by the results to date across the RIB Mineralized Corridor, with the RIB North area continuing to emerge as a key focus within the broader trend. Building on the initial RIB North discovery in 2025, the 2026 drill program has delivered results that support continuity of uranium mineralization across meaningful step-out distances completed to date. These results are important because they continue to validate our exploration model and strengthen our view that the RIB Mineralized Corridor remains a highly prospective uranium-bearing system.

As we advance the 2026 program, our focus remains on systematically testing this mineralized trend, while continuing to assess the broader scale potential of RIB North and the surrounding corridor. These results provide a strong foundation for continued exploration and underscore the significance of this area within our overall exploration strategy."

VANCOUVER, BC / ACCESS Newswire / July 9, 2026 / ATHA Energy Corp. (TSXV:SASK)(FRA:X5U)(OTCQX:SASKF) ("ATHA" or the "Company"), is pleased to announce preliminary diamond drilling results from the 2026 Angilak Exploration Program at its 100%-owned Angilak Uranium Project in Nunavut, Canada. Today's release details results from the first eight diamond drillholes completed at the RIB North Discovery (Figure 1) - 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 (Figure 2).

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 today 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 mineralization² over fifteen zones from 541.7 m to 652.0 m (Figure 3). The widest mineralized interval was 8.5 m of composite mineralization² from 541.7 m to 550.2 m with an average reading of 696 CPS¹ and a max of 4,612 CPS¹. 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 CPS¹ and a max of 14,773 CPS¹, including over 1.0 m of high-grade mineralization².

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. In turn, 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 1^st, 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 Q4 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 mineralization¹ 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 unconstrained³.

• 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.

Figure 1: Angilak Project Area - 2026 Exploration Target Area (Black Rectangles), & Mapped Historic Mineralized Showings

Figure 2: Mineralized RIB Corridor - 2026 Angilak Exploration Program, showing drillhole traces

Table 1: 2026 Angilak Exploration Program Drill Collar Information

Figure 3: Striplog RIBN-DD-003 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 4: Striplog RIBN-DD-008 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 5: Striplog RIBN-DD-009 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 6: Striplog RIBN-DD-002 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 7: Striplog RIBN-DD-004 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 8: Striplog RIBN-DD-005 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 9: Striplog RIBN-DD-006 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 10: Striplog RIBN-DD-007 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Down Hole Gamma Probe

^1.A Mount Sopris 40TGU-1000 Triple Gamma Geiger down hole probe was utilized for radiometric surveying.

²The 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.

Disclaimer for Historical Drilling and Outcrop Samples

Certain noted technical information provided herein has been derived exclusively and without independent verification from the following reports. Such information is historical in nature and is not considered by the Company to be current. In each case, the reliability of the historical information is considered reasonable by the Company. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results. Readers should read the entirety of such noted reports to fully understand the nature of the information referenced herein. Samples, including, without limitation, outcrop samples, by their nature, are selective in nature and significant variations may be seen from sample to sample. Accordingly, sample information may not be representative of the true underlying mineralization.

References for Historic Diamond Drilling Results and Surficial Sampling

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