Atha Energy Corp Stock Price, News & Analysis

ATHA Energy Corp (OTCQB:SASKF), the holder of the largest uranium exploration portfolio in two high-grade uranium districts, has appointed industry veteran Suraj Ahuja to its Board of Directors. Ahuja, who has served as ATHA's Technical Advisor since February 2024, brings over 50 years of resource development experience, particularly in uranium exploration. His notable experience includes working as Senior Geologist at Saskatchewan Mining and Development Corporation (now Cameco Corporation) from 1978-1988, where he helped develop some of Canada's prominent uranium assets. He previously served as a director of UEX Corp until its acquisition by Uranium Energy Corp in 2022. The appointment coincides with Sean Kallir stepping down from ATHA's board.

ATHA Energy (SASKF) has completed mobilization for its 2025 exploration program at the Angilak Uranium Project in Nunavut and commenced ground gravity and electromagnetic surveys. The program focuses on the highly prospective 31 km Rib-Nine Iron Trend, which extends under the Angikuni Basin.

Key targets include: the RIB Discovery with historic shallow mineralization, the KU Discovery with historical trench samples up to 30.7% U3O8, and the Nine-Iron Discovery with surface samples reaching 30.3% U3O8. Diamond drilling is anticipated to begin in early June 2025, targeting shallow, high-grade uranium deposits along the corridor.

The project, located 225 km southwest of Baker Lake, builds on ATHA's successful 2024 campaign where all 25 step-out holes at the Lac 50 Deposit were mineralized. The company aims to define discoveries that could reshape the region's significance in global uranium production.

ATHA Energy Corp (OTCQB:SASKF) has successfully completed a fully-subscribed private placement offering, raising aggregate gross proceeds of $10 million. The offering consisted of:

- 16,766,490 flow-through common shares at $0.47 per share
- 3,475,000 Charity FT Shares at $0.61 per share

The offering was conducted through an agency agreement with Stifel Nicolaus Canada Inc. and Canaccord Genuity Corp. as co-lead agents, with Red Cloud Securities Inc. participating. Agents received a 6.0% cash fee from the gross proceeds. The funds will be used for eligible Canadian exploration expenses, qualifying as flow-through critical mining expenditures for the Angilak project and other exploration-stage projects, to be completed by December 31, 2026.

ATHA Energy has announced significant findings from SRK Consulting's independent report on their Angilak Uranium Project in Nunavut, Canada. The report highlights a major uranium discovery with the Rib-Nine Iron Trend extending to 31 km, featuring surface grades up to 30.3% U3O8, and the Mushroom Lake Outcrop showing grades up to 47.8% U3O8.

Key developments include:

• Expansion of project area by 25,194 additional acres
• Completion of >10,000m drill program with 100% of holes intersecting uranium mineralization
• Discovery of multiple high-grade uranium outcrops
• Identification of Athabasca-style mineralization with grades up to 5.6% U3O8

The company plans to execute aerial and ground geophysical surveys in April 2025, preparing for diamond drilling phase. The project shows similarities to the Athabasca Basin, with the structural interpretation suggesting potential for additional high-grade uranium discoveries.

ATHA Energy Corp (SASKF) has announced significant results from its Airborne Mobile MagnetoTellurics (MMT) survey at the Angilak Uranium Project in Nunavut, Canada. The 5,946-line kilometer survey successfully identified more than 100 km of prospective conductors and achieved four primary objectives.

Key findings include: 1) Confirmation that the Lac 50 Deposit's conductive horizons extend beyond 1 km depth; 2) Discovery of a new 25 km conductive trend along the western margin of the Angikuni Basin; 3) Identification of the Western Margin Trend (WMT) showing similarities to Athabasca Basin deposits, with historic drilling revealing grades up to 5.6% U3O8.

The Lac 50 Deposit has a 2024 Exploration Target Model ranging between 60.8M and 98.2M lbs U3O8, with average grades between 0.37% and 0.48% U3O8. The MMT results significantly increase the prospectivity of the mineralized envelope by demonstrating that conductive horizons extend well beyond the current 500m depth limit used in the model.

Atha Energy announces significant findings from its 2024 surficial mapping program at the Angilak Uranium Project in Nunavut, Canada. The company identified high-grade uranium mineralization on surface beyond the Lac 50 Deposit's Exploration Target Model, which ranges between 60.8M and 98.2M lbs U3O8 with grades between 0.37% and 0.48% U3O8.

A notable discovery includes extensive bedrock outcrop with radioactivity up to >60,000 counts per second over a 3-kilometer strike length between the Mushroom Lake zone and Hot zone, which remains untested by drilling. The mapping program successfully identified numerous uranium-bearing outcrops between Lac 48, 50, 52, and 54 trends, demonstrating the area's potential for additional mineralized trends.

ATHA Energy announces results from its 2024 Angilak Exploration Program, revealing significant uranium findings at the Lac 50 Deposit. A third-party Technical Report establishes an Exploration Target ranging between 60.8M and 98.2M lbs U3O8, with grades between 0.37% and 0.48% U3O8. The 2024 drilling program, comprising 25 holes totaling 10,051m, successfully intercepted uranium mineralization in all holes, with grades up to 5.85% U3O8. The Lac 50 Deposit remains open along strike and at depth, with only 24% of the prospective trends drill-tested to date.

ATHA Energy Corp (OTCQB: SASKF) announces key leadership changes with the appointment of Erinn Broshko as Non-Executive Director and Rhéal Assié as Chief Financial Officer. Broshko brings 25 years of experience as a corporate executive and lawyer, while Assié has over 15 years in accounting and mining, including uranium sector expertise. The company also announces the departures of Jeffrey Barber from the Board and Akash Patel as CFO, both of whom will provide transition consulting services. Additionally, ATHA has engaged ICP Securities for automated market making services at C$7,500 monthly, effective October 15, 2024, for an initial three-month term.

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.