ATHA Energy Makes Fourth Major Uranium Discovery

ATHA Energy Stakes Claim in Uranium Exploration with Major Discovery

ATHA Energy has established itself as a frontrunner in uranium exploration after reporting exceptional drill results from its wholly-owned Angilak Project in Nunavut, Canada. The company has demonstrated control of an entire uranium-rich sub-basin with mineralization traced over 12 kilometers, representing a rare district-scale opportunity comparable to major Athabasca Basin discoveries.

The company’s latest breakthrough came at its RIB North discovery, where drill hole RIBN-DD-001 intersected 26.3 meters of composite uranium mineralization, including high-grade intervals reaching 55,730 counts per second (CPS). This achievement places ATHA’s exploration results on par with world-class deposits in terms of both thickness and grade.

“The discovery hole at Arrow, I think it was RK1421 – very similar grades, very similar thicknesses that we’re seeing in the discovery hole at RIB North,” said CEO Troy Boisjoli, drawing a direct comparison to NexGen Energy’s renowned Arrow deposit, where he previously worked.

What distinguishes ATHA’s exploration program is its perfect drilling success rate across four separate discoveries—KU, RIB East, RIB West, and RIB North—all within a single exploration campaign. This exceptional hit rate indicates a systematic geological understanding and robust targeting methodology rarely seen in uranium exploration.

The Mineralized RIB Corridor (MRC) now extends over 12 kilometers based on electromagnetic inversion modeling, with mineralization traced over 4.4 kilometers along the eastern limb and 4.0 kilometers along the western limb. The company’s advanced exploration methodology employs sophisticated structural inversion techniques on geophysical data, enabling aggressive step-out drilling with spacings of 150 meters to 1.5 kilometers between holes while maintaining consistent success.

ATHA’s technical team brings significant industry experience to the project. Cliff Revering, Vice President of Exploration and former chief geologist at Cameco’s Cigar Lake operation, provides world-class uranium expertise. Combined with Boisjoli’s development experience at the Arrow deposit, ATHA possesses proven leadership in uranium project advancement.

The geological characteristics observed at RIB North mirror those of established Athabasca Basin deposits, including basement-hosted vein-style mineralization associated with strong hematite alteration, graphitic structures, and overprinting silicification. These features suggest the presence of a robust hydrothermal system capable of supporting large-scale uranium concentration.

ATHA’s exploration success comes at a pivotal time for the uranium sector, which is experiencing unprecedented structural tailwinds as nuclear energy gains recognition as a critical component of the clean energy transition. Supply constraints combined with growing demand for nuclear power have created what Boisjoli describes as “unequivocally unlike any time I’ve seen in my career.”

The company now faces a strategic decision regarding capital allocation between advancing the established Lac 50 deposit—which has a conceptual exploration target of 61-98 million pounds at average grades of 0.37% and 0.48% U3O8—and the emerging RIB corridor discoveries. This optionality provides ATHA with multiple pathways to resource definition and development.

“With the scale and the grades that we’re seeing within the RIB area, we need assays back, we need the modeling done, and we’ve got a great option analysis to be able to figure out what is the optimal deposit within this project area to advance forward in the first instance,” Boisjoli explained.

Having recently completed financing, ATHA has sufficient capital to advance its exploration and development objectives through 2026. The company plans to shift focus from exploration to project advancement, with delineation and infill drilling programs designed to move deposits toward resource definition.

ATHA’s location in Nunavut, Canada provides additional strategic value given the jurisdiction’s mining-friendly regulatory environment and established infrastructure for northern resource development. Canada’s position as a stable, western uranium producer adds geopolitical premium in an increasingly uncertain global supply landscape.

The company’s sole control of the Angikuni Basin during a uranium supply shortage and growing nuclear demand positions ATHA as a potential tier-one discovery play in one of the world’s premier uranium jurisdictions. As the uranium market continues to strengthen, with major producers like Cameco testing all-time highs, exploration companies with credible discovery potential are attracting increased investor attention.

For investors, ATHA represents exposure to a systematic uranium exploration program with multiple discovery zones, experienced management, and strategic optionality for resource development. The company’s transition from exploration to resource development in 2026 will provide critical milestones for investment evaluation, with assay results and strategic capital allocation decisions serving as key catalysts for potential value creation.