Atomic Minerals Identifies Exploration Targets at Archie Lake Project, South of Athabasca Basin, Saskatchewan, Canada

Rhea-AI Summary

Atomic Minerals (TSXV: ATOM) has identified two exploration targets at its 264-hectare Archie Lake Project in northern Saskatchewan, Canada. The targets were highlighted from a review of a 2015 Falcon Airborne Gravity Gradiometry survey:

1. Target Zone 1 (TZ1): Located in the northwest quadrant, characterized by a gravity low.

2. Target Zone 2 (TZ2): Located in the southeast quadrant, consisting of several parallel subsurface conductors within a magnetic low, a classic Athabasca Basin uranium target.

Both targets are associated with local faults or folds. The Archie Lake Project is situated near the southwestern edge of the Athabasca Basin, known for high-grade uranium deposits. Atomic Minerals is designing a multiphase exploration strategy to explore these target zones.

Positive

• Identification of two distinct exploration targets at Archie Lake Project
• Project location in the uranium-rich Athabasca Basin region
• Proximity to NexGen Energy's significant land package
• Use of advanced Airborne Gravity Gradiometry survey data for target identification

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - July 18, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") is pleased to announce the identification of two distinct target zones at its 264-hectare Archie Lake Project in northern Saskatchewan. A detailed examination of historic datasets in conjunction with the increasing exploration activity and recent successes in the area immediately to the south of the Athabasca Basin drove the Atomic detailed review.

The Targets were highlighted from a review of a 2015 Falcon Airborne Gravity Gradiometry survey. Target Zone I (TZ1), located in the northwest quadrant of the property is characterized by a gravity low, while Target Zone 2 (TZ2), located in the southeast quadrant consists of several parallel subsurface conductors within a magnetic low, a classic Athabasca Basin uranium target. TZ1 and TZ2 are both associated with local faults or folds.

"Identifying these new exploration targets at our Archie Lake Project is a significant step forward for Atomic Minerals. Saskatchewan, particularly the Athabasca Basin, is a world-renowned jurisdiction for uranium, known for its high-grade deposits and stable regulatory environment. We are excited about the potential these targets present and are committed to advancing our exploration strategy to unlock their value," said Clive Massey, President & CEO of Atomic Minerals.

The 2015 FALCON® Airborne Gravity Gradiometry ("AGG") survey was completed by CGG Aviation (Australia) Pty Ltd for NexGen Energy Ltd. The nominal flight line spacing was 200 m with a nominal altitude of 80 m., with a total of 1,815-line km of data were evaluated and interpreted. AGG surveys acquire regional magnetic and electromagnetic data, which are evaluated alongside high-resolution gravity gradients to determine optimal target locations based on structural information and relative intensity. The purpose of the AGG is for the understanding of basement geology and assists in identifying potential alteration zones¹.

Archie Lake

Situated in northern Saskatchewan and straddling the southwestern edge of the Athabasca Basin, the Archie Lake Project lies contiguous to NexGen Energy's significant land package to the north, east, and west. NexGen's holdings in this area focus on repeats of its Arrow high-grade basement-hosted uranium deposit. The Athabasca Basin in Canada is renowned for hosting the vast majority of the world's high-grade uranium deposits. The Company is currently designing a multiphase exploration strategy to explore these target zones, with further details to be announced shortly.

Figure 1. Location of Target Zones over Historic Falcon AGG data¹

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10252/216902_25c48b0a24b78b72_002full.jpg

Qualified Person

Mr. R. Tim Henneberry, P.Geo. (BC), an advisor to the Company, is the "Qualified Person" under National Instrument 43-101 responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.

Atomic has not undertaken any independent investigation of the geophysical surveys, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Atomic considers these historical geophysical surveys relevant as it is using these surveys as a guide to plan exploration programs.

About the Company

Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic Minerals' objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.

Atomic Minerals' property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has previously produced 597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium projects are located Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.

For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca.

ON BEHALF OF THE BOARD OF DIRECTORS

"Clive Massey"
Clive H. Massey
President & CEO

For further information, please contact:
info@atomicminerals.ca
(604) 341-6870

Neither TSX Venture Exchange nor their 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.

Forward-Looking Statements:

This news release contains certain statements that may be deemed "forward-looking" statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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¹Sourced: Analysis and Interpretation of Falcon Airborne Gravity Gradiometer Survey by Condor Consulting, Inc. for Nexgen Energy Ltd. - June 3, 2015 - Nicole Pendrigh, M.Sc. and Ken Witherly CPG-11536

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216902

FAQ

What are the two exploration targets identified by Atomic Minerals (TSXV: ATOM) at the Archie Lake Project?

Atomic Minerals identified Target Zone 1 (TZ1) in the northwest quadrant, characterized by a gravity low, and Target Zone 2 (TZ2) in the southeast quadrant, consisting of several parallel subsurface conductors within a magnetic low.

Where is the Archie Lake Project located and what is its significance?

The Archie Lake Project is located in northern Saskatchewan, straddling the southwestern edge of the Athabasca Basin. It is significant due to its proximity to the Athabasca Basin, known for hosting high-grade uranium deposits.

What technology did Atomic Minerals (TSXV: ATOM) use to identify the exploration targets at Archie Lake?

Atomic Minerals identified the targets using data from a 2015 Falcon Airborne Gravity Gradiometry (AGG) survey, which provides regional magnetic and electromagnetic data along with high-resolution gravity gradients.

What are Atomic Minerals' (TSXV: ATOM) next steps for the Archie Lake Project?

Atomic Minerals is currently designing a multiphase exploration strategy to explore the identified target zones at the Archie Lake Project, with further details to be announced shortly.