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Atha Energy Closes Over-Subscribed Bought Deal - Makes Third New Discovery of 2025 Exploration Program at RIB West and Continues to Expand Mineralization at RIB East
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HIGHLIGHTS ATHA closes previously announced CAD $11.5 Million Over-Subscribed Bought Deal (See detail below, "Underwritten Private Placement"); First two drill holes completed at the RIB West Discovery successfully intersected uranium mineralization, ...
HIGHLIGHTS ATHA closes previously announced CAD $11.5 Million Over-Subscribed Bought Deal (See detail below, "Underwritten Private Placement"); First two drill holes completed at the RIB West Discovery successfully intersected uranium mineralization, including high-grade, over a strike length of ~340 m (Figure 2); Results represent the third new discovery of uranium mineralization - beyond the Lac 50 Deposit Trend - during the 2025 Angilak Exploration Program, within the Angikuni Basin along the 31 km RIB-Nine Iron Trend (Figure 1); RIB East Discovery is currently defined by eight mineralized drill holes, intersecting shallow uranium mineralization (<275 m depth), the five latest holes extend mineralization from 400 m to a strike length of ~750 m (Figure 2). Based on EM Inversion modelling (see below), RIB East now has prospective strike length of more than 5 km, which remains largely untested by drilling; In August 2025, Expert Geophysics Ltd. utilized the MMT survey data acquired in 2024 to complete Advanced Electromagnetic Inversion modelling ("EM Inversion") across 12 km of the 31 km long RIB-Nine Iron Trend, focused on the RIB East and West Discovery areas. The EM Inversion has proved successful in mapping out multiple stacked conductors, including numerous interpreted north-south and east-west trending cross cutting structures.