Mr. Etienne Moshevich reports

ATCO MINING MOBILIZES FOR INAUGURAL DRILL PROGRAM AT ATLANTIC URANIUM PROJECT IN THE ATHABASCA BASIN

Mobilization has commenced in preparation for Atco Mining Inc.'s inaugural drill program at the 3,061-hectare Atlantic project. The Atlantic project is situated in the prolific Athabasca basin in Northern Saskatchewan.

The project is currently under option with Standard Uranium Ltd., an arm's-length company listed on the TSX Venture Exchange. Pursuant to the option, Atco can earn a 75-per-cent interest in the project over three years.

Highlights:

• Approximately 2,000 to 3,000 metres planned across four to six drill holes, targeting high-grade unconformity-related uranium mineralization.
• One diamond drill testing high-priority target area A on the project, investigating a significant density anomaly coincident with modelled electromagnetic (EM) conductors, and interpreted faults.
• Additional drill holes will follow up on highly anomalous uranium results and major structure intersected in drill hole BL-16-32.
• Diamond drilling crews mobilized to the Atlantic project on Feb. 19.

The company considers uranium mineralization with concentrations greater than 1 weight per cent U3O8 (triuranium octoxide) to be high grade.

"This is a significant step for our team," says Etienne Moshevich, chief executive officer of Atco Mining. "The fact that we are already drilling is extremely exciting. We are giving our shareholders a chance at drilling a very mature uranium project in one of the most prolific high-grade mining jurisdictions in the world surrounded by companies with substantially higher market caps than ours. With the drill team on site and ready to go, this is going to be a very busy time for us and I can't wait to update our shareholders with our progress in the coming weeks."

2024 winter drill program

The winter program will be the first drill campaign completed following successful identification of high-priority targets by Standard Uranium in 2022 to 2023. The project covers 6.5 kilometres of an 18 km long, east-west-trending conductive exploration trend which hosts numerous uranium occurrences. Standard Uranium completed a high-resolution ground gravity survey on the western claim block in 2022, revealing multiple subsurface density anomalies, potentially representing significant hydrothermal alteration zones in the sandstone rooted to basement conductors.

This current drill program is designed to follow up on highly anomalous uranium results returned from drill hole BL-16-32, in addition to testing the newly outlined gravity lows defined by the 2022 ground survey. On the western Atlantic claim block, drilling by Denison Mines in 2016 (hole BL-16-32) identified 342 parts per million uranium over 0.5 metre at the base of the sandstone, just north of target area A. Winter drilling will be focused in target area A which is defined by a 1,400-metre-by-850-metre density anomaly at the unconformity coinciding with stacked EM conductors and an interpreted regional fault.

A team from Base Diamond Drilling arrived at the project on Feb. 19 to begin access trail and drill pad preparation, and the Standard Uranium team is slated to mobilize on Feb. 26, 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 Neil 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.

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