ATHA Energy Initiates Ongoing Site Mobilization in Advance Of 2026 Angilak Exploration Program - Exploration Activities Commencing in April

HIGHLIGHTS

• Ongoing site mobilization commenced in mid-March - including fuel, supplies, & equipment inclusive of delivery of a third diamond drill, supplied by Base Diamond Drilling Ltd. - in support of the 2026 Exploration Program at the Angilak Uranium Project;

• Mobilization is being completed via ATR planes (Photo 1 & 2) departing from Yellowknife, Northwest Territories, and Baker Lake and Rankin Inlet, Nunavut, and landing on Angilak's Winter landing strip;

• The 2026 Angilak Exploration Program, and beyond, is fully funded with the February closing of CAD $63 Million financing, making ATHA one of the best capitalized uranium exploration Companies globally;

• 2026 Angilak Exploration Program will be the largest to date on the project, following up on the highly successful 2024 & 2025 campaigns:

  • 2024 maiden campaign focused on expansion of the mineralizing footprint along the Lac 50 Deposit Corridor, culminating in the release of 2024 Exploration Target³;

  • 2025 Program focused on testing the regional prospectivity within the Angikuni Basin along the Mineralized RIB & KU-Nine Iron Corridors, outside of the Lac 50 Deposit area, resulting in the discovery of five new uranium showings - 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;

• The Company anticipates exploration activities, including diamond drilling, to commence by the latter part of April.

VANCOUVER, BC / ACCESS Newswire / March 31, 2026 / ATHA Energy Corp. (TSX.V:SASK)(FRA:X5U)(OTCQB:SASKF) ("ATHA" or the "Company"), is pleased to announce the commencement of the 2026 Angilak mobilization, inclusive of work crews, supplies and equipment, in support of its 2026 Angilak Exploration Program, at its 100%-owned Angilak Uranium Project in Nunavut, Canada. The Company anticipates exploration activities to begin in the latter half of April. The 2026 Angilak Exploration Program will be largest to date at the Angilak Uranium Project and will build on the success of the two previous campaigns.

Photo 1: Angilak Uranium Project - Winter Landing Strip and Base Camp in background

Photo 2: Angilak Uranium Project - Summer 2025 - Base Camp, Logging Facilities, Airstrip, & Core Storage

Assay Samples

^1.Composite mineralization is calculated using a 0.01% U₃O₈ cutoff with a maximum internal dilution of 1.5 m.

²The Company considers high-grade mineralization to be any interval over 1% 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.

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 Energy

ATHA Energy is a uranium mineral exploration Company focused on advancing exploration at scale at its flagship Angilak Project in southern Nunavut, where ATHA controls 100% of the Angikuni Basin. ATHA offers significant exposure to uranium discovery, controlling the largest cumulative prospective exploration land package (6.8 million acres) across Canada's most prominent basins for uranium discoveries, and 10% carried interest exposure in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. (TSX:NXE) and IsoEnergy Ltd. (TSX:ISO). ATHA is institutionally backed, led by a strategic investment from Queens Road Capital Investment (TSX:QRC).

For more information visit www.athaenergy.com and review ATHA's company profile on SEDAR+ at www.sedarplus.ca.

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