Mr. Clive Massey of Atomic Minerals reports

ATOMIC MINERALS CORPORATION UPDATES HARTS POINT URANIUM PROJECT DRILL PERMITTING PROCESS IN PARTNERSHIP WITH KRAKEN ENERGY CORP.

Atomic Minerals Corp. has provided an update on continuing drill permitting for its 6,500-acre Harts Point uranium project in San Juan county, Utah. This update is in partnership with Kraken Energy Corp., the company's optionee partner and the operator for the coming exploration program.

The August, 2024, permit application has now been reviewed by the Monticello Field Office of the Bureau of Land Management (BLM), with comments provided to Kraken. The partners are currently addressing the comments. Kraken plans to conduct exploratory drilling across 15 proposed sites targeting the basal Moss Back member of the Chinle formation for uranium mineralization at depths of greater than 1,500 feet (457 metres).

The next phase of drilling is aimed at building on the successful phase I drilling campaign at Harts Point. This collaboration with Kraken Energy underscores both companies' commitment to advancing exploration and development projects in this promising region. As described in the company's permit applications, these permits will facilitate the execution of a thorough drilling and exploration program, designed to unlock the potential of the uranium-rich Harts Point property.

Clive Massey, president and chief executive officer of Atomic Minerals, commented: "We are excited to be advancing the Harts Point uranium project alongside our partners at Kraken Energy. With the feedback received from the BLM on our permitting application, we are well positioned to move forward with our exploration program. This step brings us closer to unlocking the significant potential of Harts Point, located in one of the most promising uranium regions in the U.S. We are confident that the upcoming drill program will help validate historical data and provide valuable insights into the property's resource potential."

On May 23, 2023, Atomic Minerals executed a definitive agreement with Kraken Energy, granting Kraken Energy the option to acquire up to a 75-per-cent interest in Harts Point. Harts Point was identified as Moss Back member Chinle formation uranium target based on off-scale radioactivity readings from downhole gamma ray probes of three historic oil and gas holes in the area, which were spaced 2.8 miles apart. The partners believe Harts Point is analogous to Lisbon Valley.

Lisbon Valley encompasses the Big Indian mining district, which produced 77.9 million pounds of uranium oxide (triuranium octoxide) and 19 million pounds of vanadium from 16 large mines between 1952 and 1988 from the Triassic Chinle and Permian Cutler formations from relatively shallow depths to more than 2,550 feet. This production represents more than 80 per cent of the uranium ore mined in Utah during this time period. Ore grades averaged 0.34 per cent U3O8, making these the highest-grade and thickest minable widths of all the large uranium mining districts discovered in the United States.

Harts Point property highlights:

• World-class uranium jurisdiction -- located in the centre of the Colorado plateau, which has produced over 328 million pounds U3O8 at 0.2 per cent to 0.4 per cent U3O8 since the 1950s;
• Property consists of 324 lode mining claims on BLM ground that covers an area of 2,622 hectares (6,480 acres);
• Harts Point anticline is analogous to the Lisbon Valley anticline -- where the Lisbon Valley uranium district hosted 17 large uranium mines, which produced approximately 80 million pounds U3O8 at 0.34 per cent U3O8 from 1948 to 1988:
  • The dimensions of these tabular sandstone-hosted uranium deposits range from two metres to 13 metres (seven feet to 43 feet) thick, 100 metres to 3,048 metres (328 feet to 10,000 feet) long and 31 metres to 427 metres (100 feet to 1,400 feet) wide;
• Significant historic uranium production:
  • Several historic mines located 11 kilometres (seven miles) west of the Harts Point property produced approximately 280,000 pounds U3O8 at 0.3 per cent U3O8 from the favourable Chinle formation host rock;
  • The Lisbon Valley anticline is located 31 kilometres (19 miles) to the east of the Harts Point property produced approximately 80 million pounds U3O8 at 0.34 per cent U3O8;
• Historic exploration: Three wide-spaced historic oil and gas wells on the property along the east flank of the Harts Point anticline show off-scale radioactivity within the favourable Chinle formation host rock:
  • Drilled between 1953 and 1980, historic drill holes 43-037-10438, 43-037-30109 and 43-037-30623 showed off-scale radioactivity readings between 2.1 metres to 3.7 metres thickness (seven feet to 12 feet) from depths of 390 metres to 417 metres (1,280 feet to 1,368 feet);
• Excellent infrastructure -- located approximately 64 kilometres (40 miles) north of the White Mesa uranium processing facility.
  • There is also excellent access throughout the property, which is situated 45 kilometres (28 miles) from the town of Monticello, Utah.

R. Tim Henneberry, PGeo (British Columbia), an adviser to the company, is the qualified person under National Instrument 43-101 responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.

Atomic cautions investors that the presence of uranium mineralization at Lisbon Valley is not necessarily indicative of similar mineralization at Harts Point.

Technical information

The drilling results referenced in this release are from historical data, which Atomic Minerals is utilizing as a guide for current and future exploration efforts. The company has not independently verified the sampling or analysis of this historical data. The planned drilling program at Harts Point will aim to validate the historical results, advancing the company's understanding of the uranium potential at the site.

About the Harts Point property

Harts Point is located in the heart of the Colorado plateau, an area often referred to as the Athabasca basin of the United States due to its rich uranium resources. The property is situated 64 kilometres (40 miles) north of the White Mesa uranium mill, the only fully licensed and operational conventional uranium mill in the United States. Harts Point consists of 324 lode mining claims on BLM land, with drill permits secured for up to 20 exploration drill holes.

About Atomic Minerals Corp.

Atomic Minerals is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven record in the junior mining sector. Atomic Minerals' objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.

Atomic Minerals' property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and/or are known for hosting uranium production in the past. Three of the properties are located on the Colorado plateau, an area that has previously produced 597 million pounds of U3O8. Three others are in the prolific Athabasca basin region and nine uranium projects are located Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.

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