Mr. Etienne Moshevich reports

ATCO MINING INTENDS TO ACQUIRE UP TO 75% INTEREST IN THE DRILL READY AND FULLY PERMITTED ATLANTIC URANIUM PROJECT IN THE ATHABASCA BASIN THROUGH A LETTER OF INTENT WITH STANDARD URANIUM

Atco Mining Inc. has signed a letter of intent (LOI) dated Feb. 9, 2024, with Standard Uranium Ltd. to acquire up to 75-per-cent interest in Standard's Atlantic uranium project located in the Athabasca basin of Northern Saskatchewan. The project consists of seven minerals claims totalling 3,061 hectares and covers 6.5 kilometres of an 18 km long, east-west-trending conductive corridor located due west of IsoEnergy's Hurricane deposit.

Atco believes the Atlantic project is prospective for the discovery of classic high-grade unconformity-related uranium mineralization akin to the recently discovered Hurricane deposit nearby. Cautionary statement: Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the company's properties.

• Depth to the unconformity is approximately 230 to 485 metres from surface.
• Historical drilling by Cameco in 1992 (hole BE-04) encountered up to 0.06 per cent U3O8 (triuranium octoxide) over 0.5 metre in the sandstone, proximal to the unconformity. Additionally, the hole encountered elevated uranium and nickel, as well as illite and chlorite alteration in the lower 10 metres of sandstone.
• Follow-up drilling by Denison Mines in 2012 (hole BL12-13), next to BE-04, encountered a metal-enriched fault zone in the sandstone located 130 metres above the basement rocks that contains 10.2 parts per million uranium, 786 ppm lead and 2,270 ppm zinc over 0.1 metre. Additionally, a composite sample of the basal 13.4 metres of sandstone returned 477 ppm uranium. At the western claim block, drilling by Denison Mines in 2016 (hole BL16-32) identified 342 ppm uranium over 0.5 metre at the base of the sandstone.
• Standard Uranium recently completed additional predrill targeting on the project which consisted of a high-resolution ground gravity survey on the western claim block to identify subsurface density anomalies, potentially representing significant alteration zones.

The project is fully permitted for a drill program and is included within a signed exploration agreement with the local first nations and indigenous communities.

"We are extremely excited to have signed this agreement with Standard Uranium," says Etienne Moshevich, chief executive officer of Atco Mining. "Given its close proximity to IsoEnergy's Hurricane deposit as well as the historical exploration work conducted on the project, we believe the Atlantic project has an incredible opportunity to host high-grade uranium mineralization. With the permits fully in place and the drillers ready to go, we are eager to move this agreement forward and give our shareholders a drill program in a very exciting uranium sector."

"Atco is tremendously enthusiastic to expand it's efforts in the clean energy space with ability to explore for uranium in the Athabasca basin," stated Neil McCallum, director of Atco Mining. "The Atlantic project is an ideal target, as Atco will be leveraging the industry-leading talent of Standard's exploration team."

"Standard Uranium is pleased to be working with the team at Atco to advance the Atlantic project," stated Jon Bey, CEO of Standard Uranium. "We are excited to get the drills turning in a few weeks and kick off an incredible year of exploration in the Athabasca basin. We have identified highly prospective drill targets over the last year, which can be accessed by skid drills using existing trails right off Highway 905, making for economical drilling and providing our team with multiple shots at a discovery during our first drill program of 2024."

The scientific and technical information contained in this news release, including the sampling, analytical and test data underlying the technical information contained in this news release, has been reviewed, verified and approved by Mr. McCallum, PGeo, director of both Atco Mining and Standard Uranium and a qualified person as defined in National Instrument 43-101.

About Atco Mining Inc.

Atco is a junior exploration mining company focused on exploring for green energy metals throughout Canada. Atco is also exploring salt opportunities in western Newfoundland.

We seek Safe Harbor.