Mr. Troy Boisjoli reports

ATHA ENERGY ANNOUNCES 2024 GEMINI PROJECT EXPLORATION PROGRAM

Atha Energy Corp. has provided plans for its 2024 Gemini Project Exploration Program. At the 100%-owned Gemini Project located in the Athabasca Basin, Saskatchewan, the Company will deploy a three phased exploration approach. Phases I & II are designed to increase the probability of discovery and optimize capital expenditure during the Company's Phase III diamond drill program, slated to begin mid Q3, 2024. The 2024 Gemini Project Exploration Program is in addition to the Company's previously announced 2024 exploration programs at the Angilak Project in Nunavut and regional exploration on nine of its wholly owned high-priority projects within its four Athabasca Basin Exploration Districts (North Rim, Cable Bay, East Rim and West Rim). See March 20th, 2024, news release for more detail. The Company's full 2024 Exploration Program comprising activities in Nunavut and Saskatchewan represents one of the largest uranium focused exploration programs globally and is the most significant undertaken by ATHA Energy.

GEMINI PROJECT HIGHLIGHTS:

• The Gemini Project is located 31 km northeast of Cameco's Key Lake Mine, along the southeastern margin of the uranium rich Athabasca Basin, and hosts the high-grade uranium Gemini Mineralized Zone ("GMZ").
• GMZ is a shallow (mineralization begins at <60 m depth) basement hosted, high-grade uranium discovery, which remains open at depth and along strike.
• GMZ is analogous to uranium mineralization along Cameco's Rabbit Lake Trend, which produced 203MM lbs of uranium concentrate. Similarities with the Rabbit Lake Trend are demonstrated by:
• The visual scale and nature of hydrothermal alteration;
• The interpreted structural control on mineralization;
• Mineralization hosted within meta-sediments (Hidden Bay assemblage within the upper Wollaston Domain) lithologies with associated alteration halos typical of high-grade uranium deposits within the Athabasca Basin;
• Uranium mineralization discovered along parallel conductor within the GMZ Trend and newly identified geophysical targets along strike to the north.
• Successive diamond drilling exploration programs at the GMZ, conducted between 2021 through to 2023, are highlighted by high-grade drillhole intersections, such as: GEM22-025 intersected 43.0 m grading 0.62% U 3 O 8 , including 18.0 m grading 1.16% U 3 O 8. GEM23-061 intersected 5.0 m grading 1.47% U 3 O 8 , including 1.5 m grading 4.69% U 3 O 8 and another sub-interval of 9.66% U 3 O 8 over 0.5 m.

2024 GEMINI PROJECT EXPLORATION PROGRAM:

• 2024 Gemini Project Exploration Program builds upon the work completed by 92 Energy, targeting the GMZ Trend within the Gemini Project area and is comprised of three phases:
• Phase I: Geophysics (Currently On-going) - Ground Gravity Survey followed by the deployment of Fleet Space's Exosphere ANT (Ambient Noise Tomography) System.
• Ground Gravity Survey ("GGS") - (Completed February 2024): 92 Energy completed a comprehensive GGS focused on the GMZ and surrounding area - encompassing prospective parallel conductors. The results of the GGS were received in late March and highlight:
• The GGS demonstrates the continuation of alteration associated with the GMZ Discovery to the southwest, within the Gemini Project area.
• On parallel conductors, five large-scale gravity anomalies, which are also coincident with EM anomalies and MAG lows were identified - these anomalies are high-priority targets.
• Fleet Space's Exosphere Ambient Noise Tomography (ANT) - (Commenced April 2024): The ANT system is a non-intrusive ground-based geophysical survey system designed to measure naturally occurring seismic vibrations in the earth's crust caused by wave action, weather, and other anthropogenic activities.
• Results of other ANT surveys completed in the Athabasca Basin have been successfully correlated with uranium mineralization and associated alteration of the surrounding rock mass.
• The ANT survey results will be gathered and uploaded to Fleet Space's satellite network in near real-time, with anticipated completion by end of April.
• Phase II: Target Development and Diamond Drilling Optimization (Currently Ongoing) - Comprised of two components:
• Data Compilation - Results from Phase I Geophysics, along with all data collected during previous exploration programs, and an ongoing SRK Consulting structural study on controls of uranium mineralization at GMZ will be compiled forming a comprehensive data set - producing a detailed 3D Geological model of the GMZ.
• Machine Learning and Enhanced Target Selection - 3D Geological model coupled with an internally developed proprietary Machine Learning Process. The process is designed to further de-risk and advance exploration targets at the GMZ and surrounding area prior to commencement of Phase III - Diamond Drilling Exploration.
• Phase III: Diamond Drilling (Commencing Mid - Q3, 2024) - The diamond drilling exploration program is comprised of ~8,000 m and focuses on two key objectives:
• GMZ Expansion - ~4,000 m allocated to expanding the mineralization footprint immediately adjacent to the GMZ by testing prospective uranium-bearing structures.
• GMZ Trend Exploration - ~4,000 m allocated to testing of known regional high-priority targets.

EXPLORATION OUTLOOK

The Company's core objective is discovery and development of its portfolio of uranium focused projects. With the acquisition of Latitude Uranium and 92 Energy, ATHA Energy's portfolio now totals 8.1 million acres across Canada's three most prospective jurisdictions for uranium discovery and development. The Company's portfolio is highly diversified across the exploration risk curve. With projects ranging from development stage like Angilak, which host's the Lac 50 Deposit - one of the largest, highest grade uranium deposits outside of the Athabasca Basin; post discovery projects like Gemini - which contains GMZ - a recent shallow, basement style, high-grade uranium discovery; through to highly prospective greenfields projects with numerous uranium occurrences and high-priority de-risked geophysical targets. ATHA's exploration approach is designed to provide maximum exploration exposure by investing at scale in a large number of early-stage projects, derisking those targets, and seeking to deliver advanced exploration upside through the expansion of known uranium deposits and additional discoveries. ATHA intends to leverage its robust cash position to pursue a fully-funded growth strategy.

GEMINI PROJECT - SASKATCHEWAN

With the acquisition of 92 Energy by ATHA Energy, which includes the 100%-owned Gemini Project (Figure 1), the Company's objective is to build upon the work completed by 92 Energy. The 2024 Gemini Project Exploration Program's objective is expansion of mineralization at the GMZ and discovery of additional zones of mineralization within the GMZ Trend. The program has three progressive Phases designed to increase the probability of discovery and optimise capital expenditure. Phase I Geophysics will provide additional data needed to identify areas of expansion at GMZ and de-risk regional targets within the GMZ Trend. Phase II Target Development and Diamond Drilling Optimization compiles all available data collected during exploration programs at the Gemini Project. The comprehensive data set will then be used in development of 3D geological model and coupled with machine learning technologies to further enhance and de-risk targets. Phase III Diamond Drilling will target expansion of the mineralized footprint at GMZ and discovery of additional zones of uranium mineralization within the GMZ Trend (Figure 2).

Phases I and II are currently ongoing and are anticipated to be finalized by end of Q2, 2024. Phase III is scheduled to commence in mid-Q3, 2024, with preparations already underway. The Company has secured all necessary permits and approvals.

Troy Boisjoli, CEO added: "It's fitting that the one-year anniversary (April 11th, 2024) of ATHA's public listing coincides with the beginning of a new chapter for the Company. Over the last year ATHA has achieved many significant milestones, including: amassing the largest portfolio of prospective uranium exploration projects globally, completion of the largest EM survey in the history of the Athabasca Basin, the acquisition of the Latitude Uranium (which includes the Angilak Project, hosting one of the largest high-grade uranium projects outside of the Athabasca Basin), and now the acquisition of 92 Energy (including the Gemini Project). ATHA's 2024 Exploration Programs focus on development and discovery across its unparalleled portfolio of uranium projects. Our plans for 2024 are designed to execute on the Company's core objective, to discover and develop Canada's next generation of uranium assets, under the backdrop of the best emerging uranium market ever."

Cliff Revering, VP Exploration added: "The addition of 92 Energy's portfolio, and in particular the Gemini Project and newly discovered GMZ uranium mineralized corridor, brings significant exploration upside to ATHA. The 2024 exploration program on the Gemini Project is designed to build on the previous exploration success by applying industry-leading techniques and technologies to further identify and characterize prospective targets ahead of drilling, maximizing the potential to expand the mineralization footprint within the GMZ mineralized corridor and Gemini Project."

Hybrid Financial

ATHA Energy is also pleased to announce that it has retained Hybrid Financial Ltd. ("Hybrid") to provide marketing services to the Company. Hybrid has been engaged to heighten market and brand awareness for ATHA Energy and to broaden the Company's reach within the investment community.

The services to be provided by Hybrid include phone calls to, and email communications with, qualified North American Investment Professionals (the "Services"). Hybrid has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange (the "TSXV") in providing the Services.

Hybrid has been engaged by the Company for an initial period of six months starting April 11, 2024 (the "Initial Term") and then shall be renewed automatically for successive three-month periods thereafter, unless terminated by the Company in accordance with the Agreement. Hybrid will be paid a monthly fee of $15,000, plus applicable taxes, during the Initial Term. No securities of ATHA are being granted to Hybrid under the terms of its engagement.

The contact information for Hybrid is Hybrid Financial Ltd, 222 Bay Street, PO Box 37, Suite 2600, Toronto, ON M5K 1B7; Phone: 1-888-246-9446

NSS Share Issuance

Pursuant to the Athabasca Basin Properties Sale and Purchase Agreement dated September 20, 2022, as amended by an amending letter dated December 6, 2023, between ATHA and The New Saskatchewan Syndicate ("NSS"), ATHA has issued to NSS an aggregate of 5,000,000 ATHA Shares as of the date hereof.

Qualified Person

The scientific and technical information contained in this news release have been reviewed and approved by Cliff Revering, P.Eng., the Vice President, Exploration of ATHA, who is a "qualified person" as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About ATHA

ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including three 100%-owned post discovery uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador hosting historical resource estimates of 43.3 million lbs and 14.5 million lbs U3O8 respectively, and the newly discovered basement hosted GMZ high-grade uranium discovery located in the Athabasca Basin). In addition, the Company holds the largest cumulative prospective exploration land package (8.1 million acres) in two of the world's most prominent basins for uranium discoveries - ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. For more information visit www.athaenergy.com .1,2,3

About Hybrid Financial

Hybrid Financial connects issuers to the investment community across North America. Using a data driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has offices in Toronto and Montreal.

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