June 6, 2023
ATHA Energy Corp. Announces appointment of Doug Engdahl to the Board of Directors and engagement of key technical team members

ATHA holds the largest reported cumulative exploration package in the Athabasca Basin – one of the world’s most prominent basins for uranium discoveries.

VANCOUVER, BC, June 6, 2023 /CNW/ – ATHA Energy Corp. (“ATHA” or the “Company”) (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) is pleased to announce that Doug Engdahl will be joining ATHA’s board of directors in addition to assuming the role of Managing Director. Mr. Engdahl brings a wealth of uranium experience as a former Senior Mine Geologist for Cameco Corporation’s McArthur River Mine, the world’s largest high-grade uranium mine,1 and will be responsible for managing ATHA’s land development programs and technical personnel to further advance the exploration of the Company’s 3.4-million-acre land package. Alongside Mr. Engdahl, ATHA is pleased to announce the addition of five technical team members in anticipation of its maiden exploration program this summer, where ATHA intends to leverage their technical expertise to help the Company define and develop prospective properties.

Led by Doug Engdahl, the group brings extensive knowledge and experience in the successful execution of global mining exploration, including in uranium and within the Athabasca Basin. This includes expertise in all aspects of geological, geophysical, environmental, and community engagement efforts, which will be instrumental in conducting geophysical and geological data compilation as well as interpretation work on ATHA’s land package.

Mike Castanho, CEO of ATHA commented: “With a depth of experience in the Athabasca Basin with companies like Cameco, Orano, NexGen Energy and Denison Mines, we are delighted to add such an accomplished group of individuals to the ATHA team at such a formative time for the Company. Our shared vision, coupled with their proven track record of success, ensures that our exploration efforts will be guided by the very best minds in the business.”

The Technical Team

Doug Engdahl, P.Geo – Managing Director

Mr. Engdahl has over 20 years of experience managing various companies with over 15 years of geological experience in both junior and major exploration and mining sectors across North America and in Africa. His extensive mineral exploration experience has been focused on data compilation and interpretation, drill target generation and drill program management, as well as resource and mine modeling with focus on structural geology and resource calculations. Mr. Engdahl has extensive Athabasca Basin resource experience having previously spent over eight years working as a Senior Mine Geologist on Cameco Corporation’s McArthur River Mine, the largest high-grade uranium mine in the world.1

Doug Adams, B.Sc. – VP, Exploration

Mr. Adams has over 17 years of geoscience experience working in the mining industry with a specific focus in uranium. Mr. Adams spent over 10 years as a geologist with Cameco where he managed multiple projects and was responsible for drill targets, downhole data interpretation, and supervision of junior geologists. Beyond Cameco, Mr. Adams also brings uranium experience from his time working with Denison Mines, 92 Energy and Okapi Resources and has been part of significant uranium discoveries and advancement of known deposits throughout the Athabasca region. Mr. Adams has been a key contributor in discoveries at Eagle Point, McArthur River & West McArthur River, Crowe Butte, Brown Ranch, and most recently the GMZ zone on 92 Energy’s Gemini project. He has extensive experience with unconformity, roll-front and tabular deposits in the US and Canada.

Rob Friesen, M.Sc. – Environment Specialist

Mr. Friesen has over 15 years of experience in environment, regulatory frameworks, building relationships, and communications for various resource sectors with a primary focus in mining. Mr. Friesen has managed and implemented environmental management systems and programs conforming to regulatory and ISO 14001 standards for uranium and gold mining operations within Saskatchewan, including Cameco Corporation’s McArthur River Mine, the largest high-grade uranium mine in the world. Along with his technical expertise, Mr. Friesen has extensive experience as a subject matter expert for industry and community in a variety of engagement and educational opportunities and is well-versed in building regulatory, community and business relationships associated with the mining industry in Saskatchewan.

Chris Brown, P.Geo – Geophysical Specialist

Mr. Brown has 17 years of experience in applying borehole, ground, and airborne geophysical methods to enhance mineral exploration projects in a wide range of environments globally. Mr. Brown has also been extensively involved in geophysical project management from business development, client retention and budgeting, as well as survey planning, data acquisition, processing, modelling, and interpretation. He has interpreted datasets for myriad mineral deposit types including uranium.

Melissa Engdahl, MBA, MSW  Community Relations Specialist

Ms. Engdahl has over 25 years of experience working with individuals, community, public sectors, non-profits, and private enterprise facilitating groups, leading community development initiatives, implementing organizational strategies and building shared value principles, and social awareness into core business models, operations, and service/supply chains. Ms. Engdahl’s experience working with Indigenous communities over the last decade underscores the importance of reciprocity, trust, transparency and authentic relationship building in her practice. Her unique experience and diverse education align to support and innovate corporate strategies for corporate social responsibility and environmental, social and governance activities for the organizations she serves.

Ty Magee, M.Sc., P.Geo – Geochemical Specialist

Mr. Magee has over 8 years of academic and professional exploration experience and has worked with in North America and internationally on multiple projects from grassroots to brownfield exploration on various types of commodities in several roles, including as a Contract Geologist for Denison Mines. Mr. Magee brings exploration experience with focus on data compilation, QA/QC and sampling methods, geological mapping and prospecting, geochemical data interpretations/modeling, project planning and targeting, and technical writing.

The engagement of the members of the Technical Team was completed pursuant to the terms of a master services agreement that the Company entered into with Axiom Exploration Group Ltd. (“Axiom“) on June 5, 2023. Pursuant to this agreement, Axiom will provide certain technical, geological, geophysical and environmental consulting services, and the Company will pay Axiom a minimum monthly retainer, as well as any additional approved costs, and will reimburse Axiom for any ancillary costs.

The Company also announces the resignation of Joerg Kleinboeck as Vice-President, Exploration. ATHA would like to thank Mr. Kleinboeck for his contributions during his time with the Company. The Company has appointed Doug Adams as Vice-President, Exploration.

Additionally, the Company announces the resignation of Morgan Tincher from the board of directors of the Company. Mr. Tincher will continue to provide ongoing consulting services to ATHA moving forward. The Company would like to thank Mr. Tincher for his efforts and perspective during his time as a member of the board.

OTC Listing

ATHA is pleased to announce that on June 1, 2023, its common shares were listed for trading on the OTCQB® Venture Market (“OTCQB“) under the trading symbol SASKF. The Company’s common shares will continue to trade on the Canadian Securities Exchange (“CSE“) under the symbol SASK and the Frankfurt Stock Exchange (“FSE“) under the symbol X5U.

[1] World Nuclear Association

About ATHA

ATHA is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. The Company has an option to acquire a 100% interest and title to the Golden Rose Property located in Northeastern Ontario and has acquired 3.4 million acres in the Athabasca Basin in Saskatchewan and Alberta along with a 10% carried interest portfolio of claims operated by NexGen Energy Ltd. (TSX: NXE) and IsoEnergy Ltd. (TSX-V: ISO).

For more information visit www.athaenergy.com

Forward-Looking Information and Statements

Certain information in this news release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans,” “targets,” “expects” or “does not expect,” “is expected,” “an opportunity exists,” “is positioned,” “estimates,” “intends,” “assumes,” “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,” “will” or “will be taken,” “occur” or “be achieved.” In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances such as statements referring to the upcoming exploration and drilling program to be undertaken by the Company and any results that may be obtained therefrom contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by ATHA as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the inherent uncertain nature of exploration work, unforeseen weather and other events that may delay or otherwise impede the proposed work programs to be undertaken by the Company as well as the factors described in greater detail in the “Risk Factors” section of ATHA’s final prospectus dated March 23, 2023, available under the Company’s profile at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect ATHA; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and ATHA expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Neither the CSE nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this release.

For further information: Mike Castanho, Chief Executive Officer and Director, Email: mike@athaenergy.com, Phone: 778-839-6579