ATHA ENERGY CORP - SASKF STOCK NEWS

ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) has announced option agreements with Terra Uranium (ASX: T92) for their respective projects. T92 can earn up to a 70% interest in ATHA's Spire and Horizon properties by incurring $4,750,000 in exploration expenditures over four years. Conversely, ATHA can acquire up to a 60% interest in T92's Pasfield Lake property through exploration expenditures or deep hole drilling over four years.

The agreements include provisions for forming joint ventures and the option for ATHA to convert its Pasfield interests into a net smelter returns royalty. Additionally, ATHA has extended or modified investor relations agreements with Hybrid Financial Inc., Gold Standard Media , and Creative Direct Marketing Group Inc., subject to TSX Venture Exchange approval where applicable.

ATHA Energy Corp (TSXV:SASK) participated in the TD Securities Annual Nuclear Fuel Cycle and Next Generation Nuclear Roundtable on October 8, 2024. CEO Troy Boisjoli discussed the company's significant growth since its listing in April 2023. ATHA now holds 8.5 million acres of exploration property across the Athabasca Basin, Thelon Basin, and Labrador. Key priorities for 2024 include maturing the Angilak project, which boasts a 43.3 million pound uranium resource at 0.69% average grade. The company has also executed a 10,000-meter drill program and identified three new prospective corridors for resource growth. Additionally, ATHA is focusing on the Gemini project and expanding its pipeline of exploration targets. Boisjoli highlighted the technical expertise of the team and their success in raising over $55 million. He also discussed the company's strategic use of data and AI in exploration and potential farm-out agreements to advance long-term projects. ATHA maintains a strong cash position with approximately $60 million on the balance sheet.

ATHA Energy Corp. (TSX.V: SASK) has expanded its Angilak Project in Nunavut by staking an additional 69,704 hectares, bringing the total project size to 158,447 hectares. The expansion includes the entire prospective Lac 50 structural corridor and a parallel corridor, both related to the Snowbird Tectonic Zone. The Angilak Project hosts the Lac 50 Uranium Deposit, with a historical resource of 43.3M lbs at 0.69% U3O8.

The company recently completed a successful 2024 exploration program, drilling 25 holes totaling ~10,051 m. The program expanded mineralization along the Lac 50 Trend and identified new parallel trends. ATHA also announced an agreement with Oak Hill Financial Inc. for investor relations services, subject to TSXV approval.

ATHA Energy Corp. (TSX.V: SASK, OTCQB: SASKF) has completed its 2024 Exploration Program at the Angilak Project in Nunavut, which hosts the Lac 50 Uranium Deposit. The program included 25 diamond drill holes totaling ~10,051 meters, targeting expansion along the Lac 50 Trend and discovery along new trends. Key achievements include:

1. Expansion of historic mineralization footprint along Lac 50 Trend
2. Identification of new parallel mineralized trends: Lac 48, Lac 52, and Lac 54
3. All drill holes intersected uranium mineralization
4. High-grade intersections, including up to 30,273.4 cps in hole PL-DD-030
5. Extended mineralized strike length at J4/Ray Zones to ~1.8 km

The company views these results as pivotal for its growth strategy amid a potential uranium supply deficit.

ATHA Energy Corp. (TSX.V: SASK, OTCQB: SASKF) has provided an update on its 2024 exploration programs. At the Gemini Project in Saskatchewan's Athabasca Basin, Phase III diamond drilling has commenced, targeting expansion of the Gemini Mineralized Zone (GMZ) and testing regional targets. The GMZ is a high-grade uranium discovery with similarities to Cameco's Rabbit Lake Trend. At the Angilak Project in Nunavut, drilling continues to expand mineralization along the Lac 50 trend, with completion expected in early September.

Key highlights include:

• GMZ expansion drilling and testing of parallel structures
• Exploration of Gemini East and West target areas with geophysical anomalies
• Previous high-grade intersections at GMZ, including 43.0 m at 0.62% U3O8
• Angilak program on track, expanding mineralization footprint
• CEO Troy Boisjoli appointed as Director to ATHA Energy's Board

ATHA Energy Corp. (TSXV: SASK, OTCQB: SASKF) has entered a non-binding LOI with Terra Uranium (ASX: T92) for two potential option agreements. T92 may earn a 70% interest in ATHA's Spire and Horizon properties by incurring $4.75 million in exploration expenditures over four years. Conversely, ATHA may acquire up to 60% interest in T92's Pasfield Lake property through exploration funding or drilling milestones. The Spire Horizon Projects, totaling 60,965 hectares, are located in the uranium-rich Athabasca Basin. The Pasfield Project, spanning 68,768 hectares, is adjacent to ATHA's Ridge Project. Both areas show promising uranium exploration potential based on recent surveys and geological features.

ATHA Energy reported positive results from its 2024 Angilak Exploration Program in Nunavut, targeting the Lac 50 Uranium Deposit. The first six diamond drill holes successfully expanded the uranium mineralization footprint outside the historic resource area. Drilling highlights include intersecting high-grade uranium in multiple zones, such as the Main Zone, Eastern Extension, and J4 & Ray Zones. The ongoing 10,000 m diamond drilling program aims to further expand these findings. Phase II, starting in August 2024, will involve airborne geophysics and ground geochemistry to identify additional targets. These initial results, with a 100% hit rate, support the company's projections of substantial uranium discovery potential analogous to the Athabasca Basin.

ATHA Energy’s Director of Geodata, Drew Heasman, won the top prize at the 2023/2024 Future Explorer’s competition for his innovative machine learning process. Organized by Humyn AI and funded by Dundee Precious Metals, the competition saw participation from over 200 experts from 37 countries. Heasman's work focused on identifying high-probability copper and gold exploration targets near the Chelopech Mine in Bulgaria. He has applied similar techniques at ATHA’s Central Mineral Belt Project in Labrador, identifying numerous high-priority copper and uranium zones. The same process is being utilized at ATHA’s Gemini Project in Saskatchewan, with results expected before the diamond drill program in mid-August 2024. Additionally, ATHA received a $225,000 grant from the Government of Newfoundland and Labrador’s Junior Exploration Assistance Program, supporting the Central Mineral Belt Project. ATHA’s expansive 2024 exploration program spans 8.4 million acres across Canada’s key uranium regions.

ATHA Energy has initiated Phase I of its 2024 Angilak Exploration Program at the Angilak Project in Nunavut. The project includes approximately 10,000 meters of diamond drilling, targeting the Lac 50 Uranium Deposit and adjacent mineralized zones. The drilling aims to expand the uranium mineralization footprint and test deeper extensions of known deposits. Phase II, starting in August, will involve airborne geophysics and ground geochemistry to identify new exploration targets. The Lac 50 Deposit is one of the largest high-grade uranium deposits outside the Athabasca Basin, with a historical resource estimate of 43.3M lbs at 0.69% U3O8. The program is part of ATHA's broader strategy to explore and develop high-grade uranium resources across Canada’s key regions.