About ATHA Energy
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 at 0.69% U3O81 and 14.5 million lbs at 0.037% U3O82 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 (7.3 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.
Leadership Team
Troy Boisjoli
CEO & DIRECTOR
Read BioMr. Boisjoli brings extensive experience in developing uranium assets both internationally and in the Athabasca Basin. Mr. Boisjoli’s experience within the Athabasca Basin most notably includes his role as Vice President Operations and Project Development as well as Vice President Exploration and Community for NexGen Energy Ltd., where he led a team through the development of the Arrow Deposit – considered to be the largest, high-grade uranium development project in the world. Prior to joining NexGen Energy in 2016, Mr. Boisjoli worked as an exploration geologist for Cameco Corporation on projects throughout northern Saskatchewan and Australia. In Saskatchewan, Mr. Boisjoli served as the Chief Geologist at the underground Eagle Point uranium mine, where his team increased the mineral resources threefold, while reducing drilling and discovery costs.
Mike Castanho
Chairman
Read BioMr. Castanho is the principal of Axis Capital Ventures Corp., a private investment firm specializing in venture capital and advisory services since October 2019. Prior to founding Axis Capital, Mr. Castanho spent sixteen years in financial services with national investment firms, raising capital across a broad range of industries and advising investments for high-net-worth individuals, institutions, and family offices. Mr. Castanho is a graduate of the Finance Program at British Columbia Institute of Technology as of 2004.
Cliff Revering, P.Eng.
VP Exploration
Read BioMr. Revering brings over 28 years of experience in the mining sector, encompassing grass-roots exploration, project evaluation and development, and mine operations. Mr. Revering has extensive uranium expertise spanning North America, Australia, and Africa, and has worked on nearly every major uranium deposit within Canada. Throughout his career, Mr. Revering has served as a Qualified Person related to mineral resources on uranium projects within the Athabasca Basin and Africa, including his role as Chief Geologist at Cameco’s Cigar Lake Uranium Mine during the first five years of mine operations, where Mr. Revering was responsible for managing the geology, geotechnical, and ground freezing departments.
Karina Tyne
Director of Corporate Affairs
Read BioMs. Tyne brings experience gained over 16 years in the mining sector, including Indigenous engagement, corporate management, as well as exploration and mine geology working on some of the world’s highest-grade uranium deposits, including Cameco’s McArthur River. Ms. Tyne led community and Indigenous engagement at NexGen Energy, where she played an integral role in the successful negotiation and execution of collaboration agreements with several Indigenous nations. With a diverse and extensive range of experience, Ms. Tyne has managed the development of numerous internal processes and systems through times of both rapid growth and immense regulatory change, including leading the development and implementation of a professional practice management plan for Teck Resources Limited, one of BC’s largest employers of engineers and geoscientists.
Ryan Gaffney
SVP, Business Development
Read BioMr. Gaffney has extensive experience providing corporate finance services to mining and oil and gas companies including debt, equity and M&A origination and advice. Previously, Mr. Gaffney was Managing Director with the investment bank Canaccord Genuity, where he worked between Canadian and UK capital markets from 2002 to 2015. He was also a Non-Executive Director of Australian Stock Exchange listed Auroch Minerals Limited from 2016 to 2019 and CFO of Canadian Overseas Petroleum Limited from 2020 to 2024.
Doug Engdahl
Director
Read BioMr. 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.
Rhéal Assié
CFO
Read BioMr. Assié has worked in the accounting and mining industry for over 15 years, including past experience in the uranium sector. Mr. Assié worked for Deloitte LLP for a number of years conducting audits on junior and major mining companies and providing advisory services to both the public, private and government sectors. He also worked for large mining companies including Agrium, Cameco, and as CFO & Corporate Secretary of NexGen Energy Ltd.
Sean Kallir
Director
Read BioMr. Kallir has over 11 years of Investment and Capital Markets Experience. In 2013, Mr. Kallir co-founded HGC Investment Management Inc, a leading Toronto based Hedge Fund with assets under management in excess of CAD$950MM. As CEO and CIO of HGC Investment Management, Mr. Kallir has achieved leading performance amongst peers, and has been involved in hundreds of M&A transactions. Mr. Kallir holds an Honors BA in Economics from the University of Western Ontario.
Richard Pearce
Director
Read BioMr. Pearce is an experienced professional in the global mining and mining technology industries, the private investment sector and in the agricultural sector. His experience in the mining industry spans the value chain, including board directorships, exploration, operation management, mining finance, M&A, business strategy and operational improvement. Throughout his career of over 20 years, Mr. Pearce has worked in multiple commodities and geographies, including iron ore, coal, uranium, mineral sands, gold, and copper in Europe, the Middle East, North and South America, South East Asia, New Zealand, and Australia.
Erinn Broshko
Director
Read BioMr. Broshko brings over 25 years as a corporate executive and lawyer with a diverse career spanning law, business, and politics. He began his professional career as a corporate and securities lawyer in Vancouver, eventually transitioning to leadership roles in the business world that included positions such as CEO and Executive Chairman of a publicly listed biotechnology company and Executive Chairman of an energy services company. Mr. Broshko is currently the Managing Director of a Vancouver-based private equity firm.
Philip Williams
Director
Read BioMr. Williams brings over two decades of mining and finance industry experience, including roles in senior management and corporate development, equity research, fund management, and investment banking in the metals and mining sector with a focus on uranium. As a research analyst at Westwind Partners, Mr. Williams launched coverage on the uranium sector in 2007. In late 2008, he joined Pinetree Capital, a natural resource focused investment fund as VP Business Development. During this time, he was responsible for analyzing and monitoring uranium investments and was also appointed to the board of directors of several investee uranium companies. In 2012, he joined Dundee Capital Markets (now Eight Capital) in the investment banking group. As a Managing Director, he completed equity financings across a wide range of commodities and was a named advisor on multiple M&A transactions in the uranium sector. In 2017, Mr. Williams was a co-founder of Uranium Royalty Corp., serving as President, CEO and Director. In March 2020, Mr. Williams joined NxGold (formerly Consolidated Uranium) and has been responsible for executing the plan to consolidate and develop uranium projects around the world.
Technical Team
Doug Adams
Director of Basin Exploration
Read BioMr. 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.
Clark Gamelin
Director, Exploration
Read BioMr. Gamelin has over 16 years of experience as an accomplished geologist and Project Manager with a proven track record in uranium exploration and development. His extensive experience, particularly at Denison Mines’ Wheeler River JV project, showcases his expertise in leading complex projects from exploration to successful execution. With technical proficiency in geological modeling, resource estimation, and drilling techniques, Mr. Gamelin has played a key role in the discovery and delineation of significant uranium deposits, primarily the Denison Mines Phoenix and Gryphon deposits. Mr. Gamelin brings extensive expertise in building and maintaining strong relationships with diverse stakeholders, including JV partners, contractors, government agencies, and Indigenous communities. Mr. Gamelin is a registered Professional Geoscientist with the Association of Professional Engineers and Geoscientists of Saskatchewan (APEGS).
Suraj Ahuja
Technical Advisor
Read BioMr. Ahuja is a technical advisor to Atha with 50 years of experience in the uranium sector including with Cameco, PNC and as a geological consultant to several major and junior mining companies.
Chris Brown, P.Geo
Principal Geophysicist
Read BioMr. 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.
1Historical Estimates: Angilak
- Mineral resources which are not mineral reserves do not have demonstrated economic viability.
- The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.
- The quality and grade of the reported inferred resource in these estimations are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.
- Contained value metals may not add due to rounding.
- A 0.2% U3O8 cut-off was used.
- The mineral resource estimates contained in this table are considered to be “historical estimates” as defined under NI 43-101 and are not considered by ATHA to be current.
- Reported by ValOre Metals Corp. in a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geol. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013.
- As disclosed in the above noted technical report, the historic estimate was prepared under the direction of Robert Sim, P.Geo, with the assistance of Dr. Bruce Davis, FAusIMM, and consists of three-dimensional block models based on geostatistical applications using commercial mine planning software. The project limits area based in the UTM coordinate system (NAD83 Zone14) using nominal block sizes measuring 5x5x5m at Lac Cinquante and 5x3x3 m (LxWxH) at J4. Grade (assay) and geological information is derived from work conducted by Kivalliq during the 2009, 2010, 2011 and 2012 field seasons. A thorough review of all the 2013 resource information and drill data by a Qualified Person , along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical resource subsequent to the publication of the 2013 technical report, would be required in order to verify the Angilak Property historical estimate as a current mineral resource.
- The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).
2Historical Estimates: CMB
- CMB/Moran Lake: Reported by Crosshair Exploration & Mining Corp. in a Technical Report entitled “Form 43-101F1 Technical Report on the Central Mining Belt (CMB) Uranium Project, Labrador, Canada, Prepared for Crosshair Exploration & Mining Corp.”, prepared by Jeffrey A. Moran, P.Geo. and Gary H. Giroux, P.Eng., dated July 31, 2008 with an updated mineral resource estimate for the Moral Lake C-Zone along with initial mineral resources for the Armstrong and Area 1 deposits.
- As discussed in the above report, the historical estimate was prepared based on a modelling of three packages in the Moran Lake Upper C-Zone (the Upper C Main, Upper C Mylonite, and Upper C West), Moran Lake Lower C-Zone, two packages in Armstrong (Armstrong Z1 and Armstrong Z3), and Trout Pond. 3. These mineral resources are based on 3D block models with ordinary kriging used to interpolate grades into 10 m x 10 m x 4 m blocks. Moran Lake Upper C-Zone has an indicated mineral resource of 6.92 million t at 0.034% U3O8 and 0.077% V2O5 or 5.19 million pounds of U3O8 and 11.75 million pounds of V2O5. A cut-off grade of 0.015% U3O8 was used for all zones other than the Lower C Zone which employed a cut-off grade of 0.035%. The total inferred mineral resource reported for the Moran Lake Upper and Lower C-Zones, Trout Pond, and Armstrong was 8.17 million t at 0.032% U3O8 and 0.088% V2O5 or 5.82 million pounds of U3O8 and 15.81 million pounds of V2O5.
- A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.
- CMB/Anna Lake: Reporeted by Bayswater Uranium Corporation in a Technical Report entitled “Form 43-101 Technical Report on the Anna Lake Uranium Project, Central Mining Belt, Labrador, Canada” prepared by R. Dean Fraser, P.Geo. and Gary H. Giroux, P.Eng dated September 30, 2009. As discussed in the above report, the historical estimate was prepared using a 3-dimensional geologic model of the deposit was created for the purpose of the resource estimate using the Gemcom/Surpac modeling software. A solid model was created using a minimum grade x thickness cutoff of 3 meters grading 0.03% U3O8. Intersections not meeting this cutoff were generally not incorporated into the model. The shell of this modeled zone was then used to constrain the mineralization for the purpose of the block model. Assay composites 2.5 meters in length that honoured the mineralized domains were used to interpolate grades into blocks using ordinary kriging. An average specific gravity of 2.93 was used to convert volumes to tonnes. The specific gravity data was acquired in-house and consisted of an average of seventeen samples collected from the mineralised section of the core. The resource was classified into Measured, Indicated or Inferred using semi-variogram ranges applied to search ellipses. All resources estimated at Anna Lake fall under the “Inferred” category due to the wide spaced drill density.
- An exploration program, including the twinning of historical drill holes in order to verify the Anna Lake Project estimate would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.
