Mr. Ryan Kalt reports

ATHABASCA NUCLEAR CORPORATION CLOSES FLOW-THROUGH FINANCING

Athabasca Nuclear Corp. has closed its previously announced flow-through financing by way of the issuance of 1.2 million flow-through units at a price of five cents per flow-through unit.

Athabasca Nuclear advises that Ryan Kalt, chairman and chief executive officer of the corporation, subscribed for 500,000 flow-through units as part of the flow-through financing. Following the flow-through financing, the corporation has 51,643,954 common shares issued and outstanding. Each flow-through unit under the flow-through placement consisted of one flow-through common share and one common share warrant. Each warrant entitles the holder to purchase one additional non-flow-through common share of the corporation at an exercise price of five cents per common share for a five-year period from the closing date. The flow-through financing was originally announced by the corporation on June 19, 2015.

Shares issued pursuant to the flow-through financing are subject to a four-month hold period, pursuant to applicable securities laws of Canada.

Athabasca Nuclear expects to use the resulting gross proceeds of $60,000 of the flow-through financing for exploration of its Saskatchewan mineral exploration properties, including the Preston uranium project, which is proximal to Fission Uranium Corp.'s and NexGen Energy Ltd.'s exciting uranium discoveries at PLS (Triple R) and Arrow, respectively, and its Pikoo-area properties, which are proximal to North Arrow Mineral Inc.'s new Pikoo diamond discovery.

We seek Safe Harbor.