VACAVILLE, CA –March 8, 2022 – Athena Gold Corporation (OTCQB: AHNR)(CSE: ATHA) (“Athena” or the “Company”) is pleased to announce that it has entered into an agreement with a drill contractor for the Company’s planned 5,000 foot reverse circulation (“RC”) drill program (the “2022 Drill Program”) at its flagship Excelsior Springs gold project in Nevada (the “Excelsior Springs Project” or the “Project”). The contractor plans to mobilize to the Project site before the end of March, and as previously announced by the Company (see news release dated February 9, 2022), its proposed Notice of Intent drilling and exploration permit for up to 6 drill pads and 11 RC drill holes at the Project has been approved by the Bureau of Land Management. Athena is also planning up to another 9 RC drill holes on patented claims held under lease with a private party.
The Company’s 2022 Drill Program is designed to expand known mineralization and further substantiate that the Excelsior Springs Project is a regional-scale, intrusion-related, gold-bearing, hydrothermal system.
John Power, Athena’s President & CEO commented, “Our location in the Walker Lane Trend places the Company in the heart of the recent successful resurgence of historic mining districts in Tonopah, Beatty/Bullfrog and Goldfield. The core of the Excelsior Springs Project is the historic high-grade Buster mine, and the Company is excited to commence the 2022 Drill Program as we look to expand on the gold mineralization identified in historic drilling.”
Excelsior Springs Project Highlights:
The Excelsior Springs Project is in the heart of Nevada’s Walker Lane Trend.
61% of the historic drill results show gold mineralization above a typical Nevada, open-pit-mine cutoff grade of 0.25g Au/T.
Numerous prospective drill targets on the land package of nearly 3,000 acres.
Significant mineralization – Figure 1 below shows historic drill holes with reported significant gold grades and thicknesses.
Figure 1. Historic drill holes with reported significant gold grades and thicknesses.
Further information on the Excelsior Springs Property is available in the technical report prepared by Matthew Dumala, P.Eng. and Donald Strachan, MSc, CPG, dated August 26, 2021 (effective July 21, 2021) and entitled “Technical Report for the Excelsior Springs Property, Esmeralda County, Nevada, U.S.A.” a copy of which is available on the Company’s SEDAR profile at www.sedar.com.
About the Excelsior Springs Project
The Excelsior Springs mining claims cover an area of 3.5 km2 including the historic Buster mine, which had estimated historical production of 18,000 tonnes (T) at 37.3 grams gold per tonne (g Au/T) gold to a maximum depth of 70 m. The Excelsior Springs Project is located in the Walker Lane tectonic zone of southern Nevada, which hosts a number of large historic gold mines. Total gold production from the Walker Lane tectonic zone has exceeded 20 million ounces (Moz) including notable deposits by Goldfields (5 Moz), Bullfrog (2 Moz), Tonopah (2 Moz), Mineral Ridge (1.5 Moz) and Comstock (8 Moz Au, 200 Moz Ag).
The reports of past production on the Excelsior Springs Project are historical in nature and may not accurately indicate the extent or grade of mineralization present at the Excelsior Springs Project. Although the Company believes the source of the historical information to be generally reliable, such information is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data and other inherent limitations and uncertainties. Readers are cautioned that the Company has no interest in or right to acquire any interest in any of the above-mentioned properties, other than the Excelsior Springs Project, and that the mineral deposits, and the results of any mining thereof, on adjacent or similar properties are not indicative of mineral deposits on the Excelsior Springs Project or any potential exploitation thereof.
From the mid-1980s through 2011, several exploration companies conducted drilling programs at the Excelsior Springs Project, primarily on the patented claims, that began to define the near-surface Buster Mine gold zone. Gold mineralization at the Excelsior Springs Project occurs within an east-west trending zone that is 200 to 400m wide and at least 3 km long.
Gold mineralization discovered at the Excelsior Springs Project to date occurs in quartz vein stock-works and silicified zones in hornfels and calc-silicate altered country rock and is generally close to porphyry dykes. The best mineralization (grade and thickness) is found in altered sediments immediately above porphyry dykes that have intruded along existing east- and east-northeast trending faults. The mineralized stock-work vein zones are shallow and have a relatively flat plunge, making them amenable to open pit mining methods.
Most historical exploration at the Excelsior Springs Project has focused on a 2.5 km long section in the central part of the Buster zone where mineralization is at or near the surface. Surface mapping and an Induced Polarization (IP) geophysical survey conducted by Zonge International Inc identified multiple zones of silicification that correlate well with the known mineralization. Many of the silicified zones defined by the IP (resistivity highs) surveys have not been tested by drilling and remain targets for future exploration.
Qualified Person
John Hiner, Licensed Geologist and Registered Member of SME (Society for Mining, Metallurgy & Exploration), a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis of this press release and has approved the disclosure herein. Mr. Hiner is not independent of the Company as he is a director of the Company and holds stock options in the Company.
About Athena Gold Corporation
Athena is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration program on the Excelsior Springs Project, located in Esmeralda County, Nevada, approximately 45 miles southwest of Goldfield, Nevada.
For further information about Athena Gold Corporation and our Excelsior Springs Gold project, please visit www.athenagoldcorp.com.
On Behalf of the Board of Directors
John Power Chief Executive Officer and President
Contact:
Phone: John Power, 707-291-6198 Email: info@athenagoldcorp.com
Cautionary Statement to U.S. Investors
This press release references NI 43-101, which differs from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.
The United States Securities and Exchange Commission (“SEC”) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can legally extract or produce. Pursuant to SEC Industry Guide 7 under the United States Securities Act of 1933, as amended, a “final” or “bankable” feasibility study is required to report reserves. Currently Athena has not delineated “reserves” on any of its properties. Athena cannot be certain that any deposits at its properties will ever be confirmed or converted into SEC Industry Guide 7 or any successor rule or regulation compliant “reserves”. Investors are cautioned not to assume that any part or all of the historic Buster Mine gold zone will ever be confirmed or converted into reserves or that it can be economically or legally extracted.
The SEC has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the United States Securities Exchange Act of 1934, as amended. These amendments became effective February 25, 2019, with compliance required for the first fiscal year beginning on or after January 1, 2021, and historical property disclosure requirements for mining registrants that were included in SEC Industry Guide 7 will be rescinded from and after such date.
Forward Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities laws. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the completion of the 2022 Drill Program, future results from exploration, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “will”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “potential”, “scheduled”, or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company’s projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company’s projects and the Company’s ability to comply with environmental, health and safety laws.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on the Company’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including of the Canadian Securities Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and other factors and risks that are discussed in the Company’s periodic filings with the SEC and disclosed in the final long form prospectus of the Company dated August 31, 2021.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this press release or incorporated by reference herein, except as otherwise required by law.
VACAVILLE, CA –February 9, 2022 – Athena Gold Corporation (OTCQB:AHNR)(CSE: ATHA) (“Athena” or the “Company”) is pleased to announce that it has received final approval from the Bureau of Land Management (“BLM”) on the Company’s proposed Notice of Intent (“NOI”) drilling and exploration permit (the “Drill Permit”) for up to 6 drill pads and 11 reverse circulation (“RC”) drill holes at the Excelsior Springs project in Esmeralda County, Nevada (the “Excelsior Springs Project”). In addition, Athena is considering an additional 9 RC drill holes on the patented claims held under lease as part of our flagship Excelsior Springs gold Project. Athena has posted the required reclamation bond to secure the Drill Permit. Athena’s 5,000+ foot drill program is expected to commence in the first half of 2022, subject to rig availability and other operating conditions.
After careful review and analysis of the substantial historical database for the Excelsior Springs Project and consultation with our technical consultants, Athena has updated its exploration strategy for the Excelsior Springs Project. Under the revised strategy, Athena will focus its 2022 exploration program on numerous near-surface targets on the Excelsior Springs Project using exploratory RC drilling. Once this work is completed, the Company will evaluate the merits of the IP survey designed to delineate deeper targets on the Excelsior Springs Project, contemplated by the phase one work program set out in the Company’s technical report prepared by Matthew Dumala and Donald Strachan dated August 26, 2021 (effective July 21 2021) and entitled “Technical Report for the Excelsior Springs Property, Esmeralda County, Nevada, U.S.A.” (the “Technical Report”).
John Power, Athena’s President & CEO commented, “We have numerous targets that can be tested with RC drilling on the Excelsior Spring Project that we believe will provide meaningful data on zones of mineralization on the property.” Mr. Power continued, “Our goal is to demonstrate continuity of potential mineralized zones and identify new areas of mineralization. There have been several campaigns of historic RC drilling that have yielded very encouraging results. However, 85% of the mapped structures dip north, northeast, or northwest yet only 5% of the historic drill holes had a southern azimuth which is the azimuth required to test these structures. Our proposed drill program includes several southern directed drill holes to properly test these structures. We also have numerous step-out targets that we continue to evaluate and prioritize.”
Excelsior Springs Project Highlights:
The Excelsior Springs Project is in the heart of Nevada’s Walker Lane Gold District.
61% of the historic drill results show gold mineralization above a typical Nevada, open-pit-mine cutoff grade of 0.25g Au/T.
Numerous prospective drill targets on the land package of nearly 3,000 acres.
Significant mineralization:
Figure 1 below shows historic drill holes with significant gold grades and thicknesses.
Figure 2 below shows significant, near surface mineralization of historic RC drill holes.
Figure 1. Historic drill holes with significant gold grades and thicknesses.Figure 2: Drill hole intercepts on the main Buster Zone, Geo Vector Consultants, 2020.
Further information on the Excelsior Springs Property is available in the Technical Report, a copy of which is available on the Company’s SEDAR profile at www.sedar.com.
About the Excelsior Springs Project
The Excelsior Springs mining claims cover an area of 3.5 km2 including the historic Buster mine, which had estimated historical production of 18,000 tonnes (T) at 37.3 grams gold per tonne (g Au/T) gold to a maximum depth of 70 m. The Excelsior Springs Project is located in the Walker Lane tectonic zone of southern Nevada, which hosts a number of large historic gold mines. Total gold production from the Walker Lane tectonic zone has exceeded 20 million ounces (Moz) including notable deposits by Goldfields (5 Moz), Bullfrog (2 Moz), Tonopah (2 Moz), Mineral Ridge (1.5 Moz) and Comstock (8 Moz Au, 200 Moz Ag).
The reports of past production on the Excelsior Springs Project are historical in nature and may not accurately indicate the extent or grade of mineralization present at the Excelsior Springs Project. Although the Company believes the source of the historical information to be generally reliable, such information is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data and other inherent limitations and uncertainties. Readers are cautioned that the Company has no interest in or right to acquire any interest in any of the above-mentioned properties, other than the Excelsior Springs Project, and that the mineral deposits, and the results of any mining thereof, on adjacent or similar properties are not indicative of mineral deposits on the Excelsior Springs Project or any potential exploitation thereof.
From the mid-1980s through 2011, several exploration companies conducted drilling programs at the Excelsior Springs Project, primarily on the patented claims, that began to define the near-surface Buster Mine gold zone. Gold mineralization at the Excelsior Springs Project occurs within an east-west trending zone that is 200 to 400m wide and at least 3 km long.
Gold mineralization discovered at the Excelsior Springs Project to date occurs in quartz vein stock-works and silicified zones in hornfels and calc-silicate altered country rock and is generally close to porphyry dykes. The best mineralization (grade and thickness) is found in altered sediments immediately above porphyry dykes that have intruded along existing east- and east-northeast trending faults. The mineralized stock-work vein zones are shallow and have a relatively flat plunge, making them amenable to open pit mining methods.
Most historical exploration at the Excelsior Springs Project has focused on a 2.5 km long section in the central part of the Buster zone where mineralization is at or near the surface. Surface mapping and an Induced Polarization (IP) geophysical survey conducted by Zonge International Inc identified multiple zones of silicification that correlate well with the known mineralization. Many of the silicified zones defined by the IP (resistivity highs) surveys have not been tested by drilling and remain targets for future exploration.
Qualified Person
John Hiner, Licensed Geologist and Registered Member of SME (Society for Mining, Metallurgy & Exploration), a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis of this press release and has approved the disclosure herein. Mr. Hiner is not independent of the Company as he is a director of the Company and holds stock options in the Company.
About Athena Gold Corporation
Athena is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration program on the Excelsior Springs Project, located in Esmeralda County, Nevada, approximately 45 miles southwest of Goldfield, Nevada.
For further information about Athena Gold Corporation and our Excelsior Springs Gold project, please visit www.athenagoldcorp.com.
On Behalf of the Board of Directors
John Power Chief Executive Officer and President
Contact:
Phone: John Power, 707-291-6198 Email: info@athenagoldcorp.com
Cautionary Statement to U.S. Investors
This press release references NI 43-101, which differs from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.
The United States Securities and Exchange Commission (“SEC”) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can legally extract or produce. Pursuant to SEC Industry Guide 7 under the United States Securities Act of 1933, as amended, a “final” or “bankable” feasibility study is required to report reserves. Currently Athena has not delineated “reserves” on any of its properties. Athena cannot be certain that any deposits at its properties will ever be confirmed or converted into SEC Industry Guide 7 or any successor rule or regulation compliant “reserves”. Investors are cautioned not to assume that any part or all of the historic Buster Mine gold zone will ever be confirmed or converted into reserves or that it can be economically or legally extracted.
The SEC has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the United States Securities Exchange Act of 1934, as amended. These amendments became effective February 25, 2019, with compliance required for the first fiscal year beginning on or after January 1, 2021, and historical property disclosure requirements for mining registrants that were included in SEC Industry Guide 7 will be rescinded from and after such date.
Forward Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities laws. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the completion of the revised exploration program and the decision on whether to complete the IP survey on the Excelsior Springs Project, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “will”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “potential”, “scheduled”, or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company’s projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company’s projects and the Company’s ability to comply with environmental, health and safety laws.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on the Company’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including of the Canadian Securities Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and other factors and risks that are discussed in the Company’s periodic filings with the SEC and disclosed in the final long form prospectus of the Company dated August 31, 2021.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this press release or incorporated by reference herein, except as otherwise required by law.
Toronto, Ontario, January 5, 2022 – Nubian Resources Ltd. (TSX-V: NBR | OTCQB: NBRFF) (“Nubian”) and Athena Gold Corporation (CSE: ATHA | OTCQB: AHNR) are pleased to announce the completion of the sale by Nubian and the acquisition by Athena of the remaining 90% interest that Nubian held in the Excelsior Springs exploration project (the “Property”) located in Esmeralda County, Nevada, USA, as contemplated in the option agreement (the “Option Agreement”) dated December 11, 2020, as amended on November 10, 2021, between Nubian, Nubian Resources (USA) Ltd. (“Holdco”) and Athena. Athena acquired the interest in the Property through its acquisition of all of the outstanding shares of Holdco, the legal owner of the claims and mineral rights comprising the Property. As a result of the transaction, through its ownership of Holdco, Athena now holds a 100% interest in the Property, subject to a 1% of net smelter returns royalty (the “Royalty”) with respect to the Property granted to Nubian.
The transaction was effected as at December 31, 2021 pursuant to the terms a share purchase agreement (the “Share Purchase Agreement”), whereby Nubian sold to Athena and Athena purchased from Nubian all of the shares of Holdco for the remaining consideration payable under the terms of the Option Agreement, which consisted of 45 million shares of Athena’s common stock (“Athena Shares”) and the Royalty.
Under the terms of the Share Purchase Agreement, Nubian also agreed to use commercially reasonable efforts to distribute all Athena Shares that it holds to its shareholders, pro rata, subject to certain conditions, including that the distribution can be effected in accordance with applicable laws and the policies of the TSX Venture Exchange, exempt from the requirements to file a prospectus in Canada. In order to facilitate this proposed distribution, Nubian and Athena agreed to prepare and file with the U.S. Securities and Exchange Commission a registration statement on Form S-1, covering the resale and distribution by Nubian to its shareholders of the Athena Shares held by it, which distribution is not expected to occur for a minimum period of six months. Additional details about the timing and manner of the planned distribution of the Athena Shares by Nubian will be provided by it in subsequent public disclosures.
In addition, Nubian agreed that, subject to certain exceptions, for a period of twelve months from the closing of the transaction, or until such time as Nubian owns less than 4.9% of the outstanding Athena Shares, it will not vote against any matters that have been recommended by Athena’s board of directors for approval by Athena’s shareholders at any meeting of Athena shareholders.
Martin Walter, President and CEO of Nubian stated, “We are very pleased with closing the transaction under the Option Agreement through the sale of Holdco and also to provide Nubian shareholder’s with an opportunity to continue to benefit from the upside potential of the Property through the Athena Shares acquired by Nubian under the transaction.”
John Power, President and CEO of Athena added, “We are excited to complete the 100% acquisition of Excelsior Springs, an advanced stage Gold exploration project, located in the premier mining jurisdiction of Nevada. We are finalizing our aggressive 2022 exploration plans for Excelsior Springs and look forward to advancing the Property.”
Early Warning Disclosure
As announced on August 31, 2020, Nubian previously acquired 5,000,000 Athena Shares and received a cash payment of US $10,000 from Athena in exchange for a 10% interest in the Property. Immediately before the transaction, Nubian held these 5,000,000 Athena Shares, representing approximately 6.2% of the Athena Shares then issued and outstanding. Upon completion of the transaction, Nubian held an aggregate of 50,00,0000 Athena Shares, representing approximately 40% of the Athena Shares then issued and outstanding.
The Athena Shares acquired by Nubian in the Transaction were acquired by Nubian as transaction consideration and are intended to be held for investment purposes. Nubian has no present intention to acquire additional securities of Athena and plans to distribute the Athena Shares now held by it to its shareholders. In addition, from time to time and depending on market and other conditions, Nubian may increase or decrease its beneficial ownership, control or direction over those securities through market transactions, private agreements or otherwise.
This news release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires Nubian to file a report under Athena’s profile on SEDAR (www.sedar.com) containing additional information respecting the foregoing matters. A copy of the early warning report to be filed by Nubian will be available under Athena’s profile on SEDAR (www.sedar.com) and may also be obtained by contacting Martin Walter, President and CEO, Nubian Resources Ltd., at #202 Yale Court Plaza, 2526 Yale Court, Abbotsford, British Columbia V2S 8G9.
ABOUT NUBIAN RESOURCES
Nubian is a publicly traded precious and base metals exploration company managed by a team of experienced mining and geological professionals. Nubian’s projects are focused in key mining jurisdictions in central Victoria and Tasmania, Australia and Peru.
About Athena GOLD
Athena is a publicly traded company engaged in the business of the acquisition and exploration of mineral resources. Athena is currently focused on the exploration and development of precious metals properties in the western United States.
For further information, please contact:
Martin Walter, President and CEO, Nubian Resources Ltd., at +1-416-389-5692 or martin@nubianr.com
Neither the TSX Venture Exchange or the CSE nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange and the CSE) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance, including, without limitation, the preparation and filing of a registration statement on Form S-1 with the SEC, the distribution of Athena Shares by Nubian to its shareholders, and the potential upside of the Property and value of the Athena Shares. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “may” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Athena and Nubian’s current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Although such statements are based on reasonable assumptions of Athena and/or Nubian’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in parameters of the projects as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to the COVID-19 pandemic and current global financial conditions, increased competition, access and supply risks, reliance on key personnel, operational risks, regulatory risks, including risks relating to licenses and permits, financing, capitalization and liquidity risks and title and environmental risks.
The forward-looking information contained in this release is made as of the date hereof, and neither Athena or Nubian is obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
