ATHA Energy Reports Widest Intersection to Date at Rib North Discovery with 37 m of Composite Uranium Mineralization in Ribn-DD-003 – Multiple Drillholes Demonstrating Continuity of Uranium Mineralization

HIGHLIGHTS

• 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

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

ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including three 100%-owned post discovery uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador, and the newly discovered basement hosted GMZ high-grade uranium discovery located in the Athabasca Basin). In addition, the Company holds the largest cumulative prospective exploration land package (>7 million acres) in two of the world's most prominent basins for uranium discoveries - ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. For more information visit www.athaenergy.com.

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: info@athaenergy.com
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; in ability 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 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