July 28, 2026
VIDEO: Matthew Gordon, Crux Investor Interview

ATHA Energy is off to a flying start in 2026. In this update, we break down the latest batch of drill results from the company’s massive Angilak Uranium Project in Nunavut. With a fully funded 20,000-meter campaign underway, early step-out drilling is already suggesting a much larger, continuous mineralized system than previously anticipated. We look at the standout intercepts at RIB North and Lac 50 Northwest, and discuss why ATHA is prioritizing scale over density in this phase of exploration.

From Crux Investor on YouTube:

Recording date: 13th July 2026

ATHA Energy Corp. has reported significant early results from its 2026 exploration program at the 100%-owned Angilak Uranium Project in Nunavut, highlighting growing evidence of large-scale uranium systems across two key corridors. Recent drilling has confirmed mineralisation continuity at both the Lac 50 Northwest and RIB North targets, an uncommon achievement for a pre-resource explorer at this stage.

At Lac 50 Northwest, a step-out drill hole located four kilometres from the existing Lac 50 Deposit intersected 11.5 metres of composite uranium mineralisation across multiple zones. This result suggests that the entire gap between the two क्षेत्रों may host mineralisation, supporting the company’s view of a continuous, district-scale system rather than isolated deposits. Meanwhile, at RIB North, drilling has outlined continuity over 300 metres along strike, including a standout intersection of 37.0 metres—the widest recorded at the site to date—indicating robust mineralisation across the corridor.

These results are part of ATHA’s largest-ever drill campaign, funded by a $63 million capital raise completed in early 2026. The program includes 20,000 metres of drilling across three rigs, alongside geophysical surveys aimed at refining future targets. Rather than focusing on dense drilling for resource definition, the company is prioritizing widely spaced step-out holes to establish scale and continuity before advancing to delineation work.

ATHA plans to complete drilling through September 2026 and use the accumulated data to conduct a year-end trade-off study, which will determine which corridor to advance toward resource delineation in 2027. While results to date are based on radiometric readings rather than lab assays, they continue to reinforce the project’s potential.

With strong funding, consistent drill success, and exposure to rising global uranium demand, Angilak is emerging as a notable exploration story within Canada’s uranium sector.