NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / February 5, 2026 / ATHA Energy Corp. ("ATHA" or the "Company") (TSXV:SASK)(OTCQB:SASKF)(FRA:X5U) is pleased to announce that it has closed approximately C$63 million in new financing to advance exploration at scale and development of its Angilak Project, Nunavut: further to its press releases dated January 13 and January 22, 2026, the Company has closed its private placement of USD$25 million (approximately C$34,130,000 million1) principal amount of unsecured convertible debentures (the "Debentures") of the Company (the "QRC Investment") with Queen's Road Capital Investment Ltd. ("QRC"); and further to its press release dated January 15, 2026, the Company has closed its best efforts brokered private placement of charity "flow-through" common shares of the Company ("FTShares", and the common shares of the Company, "Shares"), including a full exercise of the agent's option, with Canaccord Genuity Corp. and CIBC Capital Markets (together, the "Co-Lead Agents"), acting as co-lead agents and joint bookrunners, together with a syndicate of agents including Stifel Nicolaus Canada Inc., Haywood Securities Inc. and Paradigm Capital Inc. (together with the Co-Lead Agents, the "Agents") through the issuance of 28,186,500 FT Shares at a price per FT Share of C$1.02 for aggregate gross proceeds of C$28,750,230 (the "LIFE Offering").