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-G

HIGHLIGHTS

• 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 and thresholds. For full details on mineralized intervals see drillhole striplogs (Figures 4 to 10).

Table 2: 2026 Angilak Exploration Program Drill Collar Information