The Albany Gazette - Atha Energy Completes Mobilization & Commences Diamond Drilling Operations as Part of the 2026 Angilak Exploration Program – Fully Funded and Largest to Date at the Project

VANCOUVER, BC / ACCESS Newswire / May 5, 2026 / ATHA Energy Corp. (TSXV:SASK)(FRA:X5U)(OTCQB:SASKF) ("ATHA" or the "Company"), is pleased to announce the completion of mobilization to the Angilak Project and the commencement of its 2026 Exploration Program, at its 100%-owned Angilak Uranium Project in Nunavut, Canada. The 2026 Angilak Exploration Program will be the 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 in late June, with resulting 3D Inversion Modeling to be completed by Q4 2026.

With diamond drilling the Company intends to test the following areas:

• 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 then 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.

Troy Boisjoli, CEO commented: "Since launching in 2023, ATHA Energy has had a simple yet powerful vision, to maximize exploration and development exposure across Canada's top uranium jurisdictions. The Company has executed on this objective by accumulating the largest uranium exploration portfolio in Canada, and conducting exploration at scale, de-risking and advancing multiple projects in tandem. The Company's flagship property, the Angilak Uranium Project, in Nunavut, was acquired in 2024, subsequently, ATHA has completed two highly successful exploration campaigns utilizing our systematic, derisking, exploration at scale approach, culminating in identification of three mineralized corridors with tremendous blue-sky potential. The Angilak Uranium Project is now at a positive inflection point, ready to deploy a massive investment, that will have Angilak poised for growth.

The 2026 Angilak Exploration Program will be the largest to date on the property, with the Company planning to drill more than double the metres executed during the combined 2024 and 2025 programs. Exploration will focus on discovery and expansion - discovery using the same successful systematic approach used in 2025 that led to five new regional showings, including RIB North, and expansion off the known zones of mineralization, testing the footprint of mineralization prior to delineation. At a time of rising oil prices and geopolitical uncertainty, the merits of uranium and security of supply from stable jurisdictions is at the forefront of the discussions for future energy needs. 2026 is going to be an exciting game changer for the Company, where we are just at start of unlocking Canada's next Uranium Jurisdiction."

Cliff Revering, VP Exploration added: "We are excited to commence our 2026 exploration program at the Angilak Project, marking a return to the field following two highly successful seasons. Results from 2024 and 2025 reflect a disciplined, systematic, and data-driven targeting approach, which has delivered meaningful value through the expansion of the Lac 50 Deposit and multiple new discoveries across the RIB and KU areas. Notably, the strong results along the RIB mineralized corridor, particularly at RIB North, highlight the project's significant potential and position Angilak for a compelling 2026 exploration campaign."

Assay Samples

^1.Composite mineralization is calculated using a 0.01% U₃O₈ cutoff with a maximum internal dilution of 1.5 m.

²The Company considers high-grade mineralization to be any interval over 1% 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.

References for Historic Diamond Drilling Results and Surficial Sampling

³For additional information regarding ATHA's Angilak Project please refer to the Technical Report entitled "Technical Report on the Angilak Property, Nunavut, Canada" with an effective date of October 14, 2025, prepared by Matt Batty, MSc, P. Geo, who is a "qualified person" under NI 43-101, available under ATHA's SEDAR+ profile at www.sedarplus.ca.

Qualified Person

The scientific and technical information contained in this news release have been reviewed and approved by Cliff Revering, P.Eng., Vice President, Exploration of ATHA, who is a "qualified person" as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About ATHA Energy

ATHA Energy is a uranium mineral exploration Company focused on advancing exploration at scale at its flagship Angilak Project in southern Nunavut, where ATHA controls 100% of the Angikuni Basin. ATHA offers significant exposure to uranium discovery, controlling the largest cumulative prospective exploration land package (6.8 million acres) across Canada's most prominent basins for uranium discoveries, and 10% carried interest exposure in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. (TSX:NXE) and IsoEnergy Ltd. (TSX:ISO). ATHA is institutionally backed, led by a strategic investment from Queens Road Capital Investment (TSX: QRC).

For more information visit www.athaenergy.comand review ATHA's company profile on SEDAR+ at www.sedarplus.ca.

On Behalf of the Board of Directors

Troy Boisjoli, CEO, ATHA Energy Corp

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact:

Troy Boisjoli
Chief Executive Officer
Email: [email protected]
Website: www.athaenergy.com
Phone: 1-(236)-521-0526

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements or information may relate to ATHA's proposed exploration program, including statements with respect to the expected benefits of ATHA's proposed exploration program, any results that may be derived from ATHA's proposed exploration program, the timing, scope, nature, breadth and other information related to ATHA's proposed exploration program, any results that may be derived from the diversification of ATHA's portfolio, the prospects of ATHA's projects, including mineral resources estimates and mineralization of each project, the prospects of ATHA's business plans and any expectations with respect to defining mineral resources or mineral reserves on any of ATHA's projects, and any expectation with respect to any permitting, development or other work that may be required to bring any of the projects into development or production.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that the anticipated benefits of ATHA's proposed exploration program will be realized, that no additional permit or licenses will be required in connection with ATHA's exploration programs, the ability of ATHA to complete its exploration activities as currently expected and on the current anticipated timelines, including ATHA's proposed exploration program, that ATHA will be able to execute on its current plans, that ATHA's proposed explorations will yield results as expected, and that general business and economic conditions will not change in a material adverse manner. Although ATHA has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current view of ATHA with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: inability of ATHA to realize the benefits anticipated from the exploration and drilling targets described herein or elsewhere; inability of ATHA to complete current exploration plans as presently anticipated or at all; inability for ATHA to economically realize on the benefits, if any, derived from the exploration program; failure to complete business plans as it currently anticipated; overdiversification of ATHA's portfolio; failure to realize on benefits, if any, of a diversified portfolio; unanticipated changes in market price for ATHA shares; changes to ATHA's current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of ATHA; and the ability to advance the Company projects and its proposed exploration program; risks inherent in mineral exploration including risks related to worker safety, weather and other natural occurrences, accidents, availability of personnel and equipment, and other factors; aboriginal title; failure to obtain regulatory and permitting approvals; no known mineral resources/reserves; reliance on key management and other personnel; competition; changes in laws and regulations; uninsurable risks; delays in governmental and other approvals, community relations; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada, Australia and other jurisdictions where ATHA conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA with the Canadian securities regulators which are available on ATHA's profile on SEDAR+ at www.sedarplus.ca. ATHA does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE: ATHA Energy Corp

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(C.Young--TAG)