Atha Energy Final Assays From 2025 Angilak Exploration Program Confirm High-Grade Discoveries at KU and Mushroom Lake Targets - Grades up to 1.56% U3O8 and 1.10% U3O8, Respectively, and Expansion of Mineralization at the Lac 50 Deposit With Grades up to 1

HIGHLIGHTS

• Final assays from the 2025 Angilak Exploration Program at the Company's 100%-owned Angilak Uranium Project, located in Nunavut, Canada (Figure 1), confirm high-grade uranium mineralization at the KU and Mushroom Lake Targets, as well as expansion of the J4/Ray zone mineralization beyond the 2024 Lac 50 Deposit Exploration Target area (Figure 2);

• Recently completed 3D MMT Inversion modeling ("3D Inversion") across the Angilak Uranium Project - the 3D Inversion led to the successful discoveries across the Mineralized RIB Corridor, including the RIB North Discovery (See News Release) - highlighting an abundance of additional highly prospective exploration targets along the Mineralized RIB, Lac 50 Deposit, and KU-Nine Iron Corridors (Figure 2);

KU Discovery (KU-Nine Iron Corridor)

• Located within the 14 km long KU-Nine Iron Corridor, the Company completed a total of six diamond drillholes as part of the successful 2025 Angilak Exploration Program (the "Program"), intersected uranium mineralization on five of six holes;

• The widespread uranium mineralization identified at the KU Discovery area indicates a much larger mineralizing system is at play, vectoring towards high-priority targets identified by the 3D Inversion;

• The Program tested a prominent stacked EM and gravity anomaly located within the Angikuni Basin at the western margin of the KU-Nine Iron Corridor, resulting in the intersection of widespread uranium mineralization within the sandstone. After the completion of the 2025 Angilak Exploration Drill Program, the recent 3D Inversion has identified several large highly prospective anomalies along trend from the KU Discovery;

• Drilling results are highlighted by:

  • Drillhole KU-DD-001 (Figure 3), which intersected total composite mineralization¹ of 15.1 m, from 85.0 m down to a depth of 502.6 m. This includes a shallow interval of uranium mineralization from 85.0 m to 87.0 m containing high-grade mineralization² of 1.56% U₃O₈ over 0.5 m;

  • Drillholes KU-DD-003 (Figure 4) & ‘004 (Figure 5), both drilled along strike to the north of ‘001, intersected widespread uranium mineralization with 20.5 m of composite mineralization¹ from 178.0 m to 534.1 m, and 24.6 m of composite mineralization¹ from 478.3 m to 583.9 m, respectively;

Mushroom Lake (Lac 50 Deposit Corridor)

• Located within the 21 km long Lac 50 Deposit Corridor, outside of the Lac 50 Exploration Target area. The Company completed a total of two diamond drillholes, intersecting uranium mineralization over a 1 km strike length;

• The holes successfully tested the depth extent of uranium mineralization identified in outcrops over a 3 km strike;

• Drilling results are highlighted by:

  • Drillhole ML-DD-014 (Figure 6), which intersected total composite mineralization¹ of 2.5 m, from 335.3 m down to a depth of 364.2 m, including an intersection of high-grade mineralization² of 1.10% U₃O₈ over 0.5 m;

J4/Ray Zone (Lac 50 Deposit Corridor)

• Located within the 21 km long Lac 50 Deposit Corridor the Company completed one diamond drillhole which successfully intersected high-grade uranium mineralization expanding the footprint of mineralization beyond the Exploration Target area.

• Drilling results are highlighted by:

  • Drillhole J4R-DD-091 (Figure 7), which intersected total composite mineralization¹ of 5.6 m, from 42.4 m down to a depth of 570.2 m, including an intersection of high-grade mineralization² of 1.47% U₃O₈ over 0.5 m;

Troy Boisjoli, CEO commented: "The final assay results from ATHA's 2025 Angilak Exploration Program - focused on derisking regional mineralized corridors across the Angilak Uranium Project - continue to demonstrate the robust metal endowment across the project. Over the last two years the Company has identified and systematically derisked three mineralized corridors across Angilak.

At the MRC, with only thirteen diamond drillholes, the Company has already made four discoveries across an 18 km strike which remains open and unconstrained, including RIB North, where the maiden hole is one of the best discovery holes in the uranium sector over the last number of years. When the results from the MRC are paired with those from the Lac 50 Deposit and the KU-Nine Iron Corridors, it starts to paint a picture of a potential uranium district. And speaks to ATHA's ability to execute on exploration at scale. With our recent combined financing completed in January the Company is now fully capitalized, and ready to unlock Angilak's potential over 2026."

Cliff Revering, VP Exploration added: "The 2025 exploration campaign at Angilak delivered outstanding results, further demonstrating the significant potential of the project. Drilling reinforced the expansion upside of the J4/Ray zone mineralization within the Lac 50 deposit and led to the discovery of additional high-grade mineralization in the Mushroom Lake area. Importantly, the program also yielded new high-grade discoveries within both the KU and RIB regional target areas, underscoring the broader district-scale opportunity emerging across the Angikuni Basin.

These achievements underscore the effectiveness of ATHA's disciplined and data-driven targeting strategy implemented since acquiring the project in early 2024. The 2025 success rate is a strong validation of our technical approach and speaks to the exceptional exploration upside that remains within this basin.

As we advance Angilak, each phase of work continues to demonstrate the scale, continuity, and exploration potential of this emerging uranium district. Ongoing technical programs aimed at refining and de-risking priority targets, combined with our successful financing completed in early 2026, position ATHA for a transformative and highly impactful 2026 exploration campaign."

VANCOUVER,BC / ACCESS Newswire / February 26, 2026 / ATHA Energy Corp. (TSXV:SASK)(FRA:X5U)(OTCQB:SASKF) ("ATHA" or the "Company"), is pleased to announce final assays results from its successful 2025 Angilak Exploration Program at its 100%-owned Angilak Uranium Project in Nunavut, Canada (Figure 1). Today's announcement details assay results for nine diamond drillholes completed along the Lac 50 Deposit Corridor and the KU-Nine Iron Corridor - assay results for thirteen diamond drillholes completed at the MRC were previously released (See November 20^th, and December 10^th, 2025, News Releases).

Along the Lac 50 Deposit Corridor (Figure 2) two areas outside of the Exploration Target were tested; at Mushroom Lake, two diamond drillholes were completed, successfully testing the depth extent of uranium mineralization identified in the 3 km long outcrop, intersecting uranium mineralization over a 1 km strike length. At the J4/Ray Zone, one drillhole was completed and successfully expanded the envelop of mineralization.

At the KU-Nine Iron Corridor (Figure 2), the Company successfully targeted the KU area where five of six drillholes intersected uranium mineralization. The Program tested a prominent stacked EM and gravity anomaly located within the Angikuni Basin at the western margin of the KU-Nine Iron Corridor, resulting in the intersection of widespread uranium mineralization within the sandstone and basement rocks. The widespread mineralization identified at the KU Discovery area indicates a much larger mineralizing system is at play, vectoring towards high-priority targets identified by the recently completed 3D Inversion.

The 2025 Angilak Exploration Program focused on highly prospective target areas along the three currently identified mineralized corridors:

1. Lac 50 Deposit Corridor: Located just outside the northern margin of the Angikuni Basin, the corridor is 21 km long, hosts the Lac 50 Deposit and remains open and unconstrained with numerous additional uranium showings. Drilling in 2025 focused on expansion of the mineralization envelope beyond the Exploration Target area, as well as discovery of mineralization at depth below the 3 km long Mushroom Lake mineralized outcrop.

3. Mineralized RIB Corridor: Located within the western edge of the Angikuni Basin, currently defined as 18 km long, where mineralization has been identified from the Historic RIB showing³ in the south through to an additional four showings discovered during the 2025 Angilak Exploration Program, including RIB North Discovery, where the maiden drillhole, RIBN-DD-001, returned assays with 34.7 m of total composite uranium mineralization¹, including 13.6 m grading 0.53% U₃O₈, 1.1 m grading 4.81% U₃O₈, and grades up to 8.16% U₃O₈ over 0.5 m.

Detailed lithologic striplogs, including assay results tables, for all nine drillholes can viewed in the Supplementary Release on ATHA Energy's website (Striplog Data).

Figure 1: Angilak Uranium Project Location - Nunavut, Canada

Figure 2: Angilak Uranium Project - Black Rectangles Denote the Three Currently Defined Mineralized Corridors: Lac 50 Deposit, Mineralized RIB, and KU-Nine Iron Corridors

Figure 3: Striplog KU-DD-001 showing mineralized interval with composite uranium mineralization¹ with average grades - derived from assay samples.

Figure 4: Striplog KU-DD-003 showing mineralized interval with composite uranium mineralization¹ with average grades - derived from assay samples.

Figure 5: Striplog KU-DD-004 showing mineralized interval with composite uranium mineralization¹ with average grades - derived from assay samples.

Figure 6: Striplog ML-DD-014 showing mineralized interval with composite uranium mineralization¹ with average grades - derived from assay samples.

Figure 7: Striplog J4R-DD-091 showing mineralized interval with composite uranium mineralization¹ with average grades - derived from assay samples.

Table 1: 2025 Angilak Exploration Program Drill Collar Information