The Fort Worth Press - ATHA Energy Successfully Completes Diamond Drilling at RIB North Discovery, Expanding Strike Length To 3.4 Km, And Identifies a Higher-Grade Sub Zone: Results Include RIBN-DD-023 Intersecting 19.5 M Of Composite Uranium Mineralization With 2.0 M Of High-Grade

• Preliminary results from the final seven diamond drillholes (See July 9^th and September 8^th, 2026 news releases for other preliminary results) completed along the Mineralized RIB Corridor ("MRC") at the RIB North Discovery (Figure 1 & 2) - as part of the now concluded 2026 Angilak Exploration Program;
• 2026 drilling has now connected the RIB North and RIB East Discoveries, expanding the mineralized strike length from 1.45 km to 3.4 km, along the Eastern Limb of the MRC;
• Identification of a higher-grade, a thicker sub-zone of uranium mineralization proximal to RIBN-DD-001 was identified with drillholes found in Table 1. The sub-zone currently has an approximate 300 m strike length and 300 m down-dip extent intersecting similar thicknesses, apparent grades, and multiple stacked mineralized structures. The sub-zone area - along with the entire Eastern Limb of the MRC - remains open and unconstrained;
• Seven of seven drillholes (RIBN-DD-017 to RIBN-DD-023) intersected uranium mineralization, results are highlighted by:
  • Drillhole RIBN-DD-023: Successfully targeted uranium mineralization ~100 m down-dip from RIBN-DD-011 (which intersected 20.0 m of composite mineralization) and 150 m along strike from RIBN-DD-003 (which intersected 37.5 m of composite mineralization) identifying a thicker, and higher-grade sub-zone along the Eastern Limb of the MRC. RIBN-DD-023 intersected 19.5 m of total composite uranium mineralization² over fourteen zones from 180.0 m to 777.5 m, including 2.0 m of high-grade mineralization² (Figure 4). The highest-grade interval resulted in 2.5 m of composite mineralization² from 582.0 m to 584.5 m with an average reading of 6,865 CPS¹ and a maximum of 26,327 CPS¹ over 0.1m, including 0.7 m of high-grade mineralization²;
  • Drillhole RIBN-DD-019: Successfully targeted uranium mineralization ~850 m along strike to the northeast of RIBN-DD-001, intersecting some of the highest-grade mineralization to date at RIB North. The hole intersected 2.5 m of total composite uranium mineralization² over three zones from 319.5 m to 740.5 m, including 0.6 m of high-grade mineralization² (Figure 5). The highest-grade interval resulted in 1.5 m of composite mineralization² from 739.0 m to 740.5 m with an average reading of 17,593 CPS¹ and a maximum of 78,785 CPS¹ over 0.1 m, included within 0.6 m of high-grade mineralization²;
  • Drillhole RIBN-DD-022A: Successfully targeted uranium mineralization ~1.2 km along strike to the northeast of RIBN-DD-001. The hole intersected 5.5 m of total composite uranium mineralization² over six zones from 490.5 m to 687.5 m (Figure 10). The highest-grade interval resulted in 1.0 m of composite mineralization² from 490.5 m to 491.5 m with an average reading of 3,385 CPS¹ and a maximum of 9,846 CPS¹ over 0.1 m. Importantly, RIBN-DD-022 is located at the northeast extent of the currently tested Eastern Limb of the MRC, demonstrating that the mineralized corridor remains open and unconstrained for potential future northeast step-outs;
• Detailed strip logs, including results tables, are displayed below in Figures 4 through 10;
• Assay samples have been submitted to SRC laboratories for analyses;
• The Company anticipates releasing additional preliminary results from drillholes completed along the Lac 50 Deposit Corridor (including the Lac 50 NW Discovery area See July 8^th, 2026 news release) in the coming weeks.

Troy Boisjoli, CEO commented: "With the completion of the Company's 2026 diamond drilling campaign, I can confirm the preliminary results from the MRC are truly exceptional. In two decades as an exploration geologist exploring for uranium in the world's top jurisdictions, I am not aware of another project globally that's advanced from a single discovery hole at the end of one season, to having continuity of uranium mineralization along 3.4 km. After the maiden discovery hole at RIB North in 2025, our 2026 program at MRC was designed to test an area of mineralization that has the potential to host a Tier I deposit(s), through aggressively wide steps. The success in executing on this feat demonstrates two points: first, the Company has significantly derisked the MRC through advancing its understanding on the controls of mineralization, leading to high-confidence expansion; and, second, the metal endowment of the Angilak Uranium Project is widespread and has the potential to be Canada's next uranium district.

The Company is working with subject matter experts on the interpretation that uranium deposits located within the Angilak Uranium Project area are the result of an Orogenic Uranium-Rich Deposit Model - the first of its kind to be identified globally. The plumbing systems and discovery potential along Orogenic Belts are well documented within the gold sector, and a uranium rich system would be something completely unprecedented. The Company plans to document the foundation for this interpretation in the coming weeks, while also releasing additional diamond drilling results from one of our other mineralized corridors at Angilak, the Lac 50 Deposit Corridor. We have a corporate motto at ATHA, "Only do real things", and with the success of the 2026 Angilak Exploration Program, I can say for certain, Angilak is very real, and we are just getting started".

Cliff Revering, VP Exploration added: "The 2026 Exploration Program at Angilak has transformed our understanding of the Angikuni Basin and highlighted the scale potential of the Mineralized RIB Corridor. Widely spaced step-out drilling has now linked RIB North and RIB East, tracking mineralization over a strike length of 3.4 kilometers, with the system remaining open in all directions. This connection marks an important milestone, supporting our interpretation that the two zones form part of a continuous, laterally extensive mineralized structural system with considerable potential for further expansion.

Beyond expanding the mineralized footprint, this year's program has provided valuable geological insights into the mineralizing system and the key lithological and structural controls on uranium mineralization across the Angikuni Basin. These insights continue to guide our drilling and broader exploration strategy, enabling us to prioritize target areas and pursue further expansion with increasing confidence."

VANCOUVER, BC / ACCESS Newswire / October 7, 2026 / ATHA Energy Corp. (TSX.V:SASK)(FRA:X5U)(OTCQX:SASKF) ("ATHA" or the "Company"), is pleased to announce additional preliminary diamond drilling results from the Mineralized RIB Corridor, completed as part of the 2026 Angilak Exploration Program at its 100%-owned Angilak Uranium Project in Nunavut, Canada. Additional preliminary results from drillholes completed along the Lac 50 Deposit Corridor (including the Lac 50 NW Discovery area See July 8^th, 2026 news release) will be released in the coming weeks.

Today's release details results from an additional seven diamond drillholes, RIBN-DD-017 to RIBN-DD-023, (See July 9^th and September 8^th, 2026 for previous results) completed at the RIB North Discovery (Figure 1) - as part of the 2026 program. All seven drillholes successfully intersected uranium mineralization and expanded the continuity of mineralization from 1.45 km to 3.4 km along the Eastern Limb of the MRC by connecting the RIB North and East Discoveries (Figures 2 & 3). Additionally, drillhole RIBN-DD-023, located approximately 250 m along strike a to the northeast of the RIB North Discovery hole, RIBN-DD-001, successfully intersected 19.5 m of total composite uranium mineralization² over fourteen zones from 180.0 m to 777.5 m, including 2.0 m of high-grade mineralization² uranium. Results from RIBN-DD-023 form part of a higher-grade, thicker sub-zone (Table 1) of uranium mineralization proximal to RIBN-DD-001. The sub-zone currently has an approximate 300 m strike length and 300 m down-dip extent intersecting similar thicknesses, apparent grades, and multiple stacked mineralized structures.

Table 1: Total composite mineralization for holes located with the MRC Eastern Limb Sub-zone

*Total composite mineralization² displayed for RIBN-DD-001 is based on assay results, all other holes display total composite uranium based on preliminary radioactivity results

During the 2026 drilling campaign along the Mineralized RIB Corridor, the Company achieved numerous successful advancements:

• The Company successfully completed 23 diamond drillholes, 21 of which intersected uranium mineralization;
• Mineralization was discovered along two separate horizons, relating to the Eastern and the Western Limbs of the MRC:
  • MRC Eastern Limb: Where the bulk of drilling was completed, followed up on the maiden discovery hole RIBN-DD-001, expanded the continuity of uranium mineralization over 3.4 km strike length, connecting the RIB North and East Discoveries along the same mineralized shear zone complex (Figures 2 & 3);
  • Additionally, a higher-grade, thicker sub-zone of uranium mineralization proximal to RIBN-DD-001 was identified with drillholes found in Table 1. The sub-zone currently has an approximate 300 m strike length and 300 m down-dip extent intersecting similar thicknesses, apparent grades, and multiple stacked mineralized structures. The sub-zone area - along with the entire Eastern Limb - remains open and unconstrained;
  • MRC Western Limb: Hosting the secondary horizon, was first discovered by RIBN-DD-008, and successfully followed up with drillhole RIBN-DD-010. Mineralization has been traced over a ~220 m strike length, with early indications the secondary mineralized shear zone may connect with RIB West Discovery, with a possible strike length of ~3.0 km.

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, orange rectangle denotes the LS window displayed in Figure 3.

Figure 3: Long-Section schematic along the eastern limb of the MRC within the RIB North & RIB East Discovery Areas. The LS is 500 m in width with circles and stars representing mid-point intersections of drillholes along the LS plane. See disclaimer notes for Comp U Min and HG² criteria andthresholds. For full details on mineralized intervals see drillhole striplogs (Figures 4 to 10).

Table 2: 2026 Angilak Exploration Program Drill Collar Information

Figure 4: Striplog RIBN-DD-023A showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 5: Striplog RIBN-DD-019 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 6: Striplog RIBN-DD-017 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 7: Striplog RIBN-DD-010 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 8: Striplog RIBN-DD-020 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 9: Striplog RIBN-DD-021 showing radioactivity based on 40TGU-1000 Triple Gamma Down Hole Probe^{1 & 2}.

Figure 10: Striplog RIBN-DD-022A 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 (>6 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: [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; 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

View the original press release on ACCESS Newswire

J.M.Ellis--TFWP