ATHA Completes Angilak Mobilization & Commences Ground Geophysics to Target Unconformity-Style Discovery

1 May 2025

HIGHLIGHTS

  • Completion of mobilization – including fuel and equipment – in support of the 2025 Exploration Program at the Angilak Uranium Project;
  • A detailed ground gravity and electromagnetic (EM) survey is now underway, designed to vector in on priority targets along the highly prospective 31 km Rib-Nine Iron Trend;
  • Rib-Nine Iron Trend (Figure 1):
    • Extends for an interpreted 31 km under the cover of the Angikuni Basin;
    • Along the western margin, historic drilling by prior operators at the RIB Discovery intersected shallow mineralization (<25m depth) with grades up to 5.6% U3O8 1,2,3, hosted within graphitic pelitic rocks with Athabasca-style alteration. Two areas proximal to the Rib Discovery will have ground gravity and EM surveys completed prior to drill testing this summer;
    • Inside of the basin, along the northern margin, historical trench sampling at the KU Discovery have returned grades up to 30.7% U3O8 4,5,6 – KU remains untested at depth via diamond drill, ground gravity at KU will aid in vectoring targets which will be tested early this summer;
    • On the eastern margin, historical sampling of surface outcrops near the Nine-Iron Discovery have returned grades up to 30.3% U3O8 5,6 and remain untested at depth by drilling;
    • Numerous similar structural targets have now been identified along this trend, extending under the cover of the Angikuni Basin; and
  • The Company anticipates announcing its diamond drill plans for Angilak in the coming weeks.

Troy Boisjoli, CEO commented: “We believe Angilak represents one of the most compelling uranium exploration opportunities in the industry. The Company is extremely excited to kickoff its 2025 Angilak exploration program, after a successful 2024 campaign. During the Company’s maiden Angilak program we successfully expanded the envelop of mineralization at the Lac 50 Deposit by drilling 25 step out holes, all of which were mineralized and regionally, identified high-grade Athabasca-style potential of the Angikuni Basin. With mobilization complete and modern geophysics underway, we are advancing toward a high-impact drill program targeting shallow, high-grade uranium along the 31-kilometre Rib-Nine Iron corridor. Our goal is clear: to define the kind of discovery that could redefine the region’s importance in the global uranium landscape.”

Cliff Revering, VP Exploration added: “In 2024 our technical team was focused on both the expansion of the Lac 50 Deposit with step out drilling and developing a much deeper understanding of the geological potential within the Angikuni Basin. Through extensive data compilation, new data collection and analysis, and interpretation of the regional scale basin architecture and structural controls on mineralization, we believe the Angilak Project has district scale potential to host multiple high-grade uranium deposits.  Now that mobilization for our 2025 program is complete, and our first phase of the 2025 exploration program is underway, we are excited to unlock the potential within this emerging uranium district.”

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