Sampling extends the high-grade polymetallic Blue Dick Trend to ~3km strike
WHITE ROCK, BRITISH COLUMBIA / ACCESS Newswire / November 10, 2025 / Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNRF) (“Athena” or the “Company”) is pleased to provide an exploration update from its 100%-owned Excelsior Springs project in Nevada. Mammoth Minerals Limited (M79) (formerly Firetail Resources Limited) has been aggressively exploring Excelsior, per its option agreement to earn an 80% interest in the project over five years, providing Athena a free-carry to Definitive Feasibility Study thereafter (see press releases dated June 2, 2025, and August 22, 2025). Recently, Mammoth reported high-grade polymetallic rock chip and sampling results from the Blue Dick Trend, on the eastern portion of the Excelsior Springs project (see Mammoth press release, dated November 7, 2025).
Highlights
Sampling from the Blue Dick Trend, as reported by Mammoth, have expanded the zone to a 2.9km strike, with high grade results including:
338g/t Ag, 8.07% Cu, >20% Pb, 1.55g/t Au – C239308
Petrophysical analysis is underway to determine optimal geophysical targeting methods.
Multiple significant ground disturbances including pits and adits have been identified along strike and parallel to the Blue Dick Mine – further reconnaissance sampling and mapping planned.
Structural interpretation and targeting will be refined following the delivery of high-resolution magnetic coverage, which is expected in coming weeks.
Project-wide LiDAR survey completed, with results to provide high-resolution topography to assist with identifying and mapping the extensive previous mining activities undertaken at site.
Diamond drilling continues across the Buster Gold Trend, with multiple batches of samples submitted for assay analysis.
Diamond drilling underway to define the geometry and extent of the mineralization at the Buster Trend, as well as to provide metallurgical and geotechnical samples
White Rock, BC — Accesswire — October 7, 2025 — Athena Gold Corporation (CSE: ATHA) (OTCQB: AHNRF) (“Athena” or the “Company”) is pleased to announce the commencement of drilling at its 100%-owned Excelsior Springs project in Nevada. The drilling is fully funded by Mammoth Minerals Limited (ASX: M79) (formerly Firetail Resources Limited), per its option agreement to earn an 80% interest in the project over five years, providing Athena a free-carry to Definitive Feasibility Study thereafter (see press releases dated June 2, 2025 and August 22, 2025). As of the date of this press release, Athena owns 32,000,000 ordinary shares of Mammoth Minerals Limited, valued at approximately AUD $5,120,000.
Highlights
First-ever diamond drilling campaign commences at the Excelsior Springs project in Nevada, USA.
Second diamond drill rig expected to arrive on site in the near-term to expedite the program.
Diamond drilling will enable detailed structural measurements to be taken that are integral to understanding the controls on the mineralization at Excelsior – with reported historical production of 19,200 oz at 41g/t Au from the Buster Underground Mine.
Drilling will follow up on significant previous intercepts, (refer to ASX press release dated June 2, 2025 “Firetail Secures Option to Acquire Two High Grade USA Gold Projects in Tier-1 Locations”) including:
51.8m at 4.00g/t Au from 39.6m – 22_01
Including 6.1m at 16.30g/t Au from 42.7m
33.5m at 5.35g/t Au from 41.2m – DB23
Including 10.7m at 15.99g/t Au from 41.2m
32.0m at 2.45g/t Au from 44.2m – 22_02
Including 6.1m at 10.00g/t Au from 45.7m
24.4m at 3.62 g/t Au from 70.1m – EX2
Including 9.2m at 7.99g/t Au from 79.2m
Metallurgical testing on the diamond drill core will be undertaken to understand the leaching characteristics to provide a processing pathway and a guide towards metal recoveries.
Geotechnical logging will be completed to assist with future development studies.
Channel sampling completed recently across the Blue Dick Underground Mine, which exploited high-grade silver ore – samples submitted for expedited assays.
Property-wide magnetics and LIDAR survey commenced across the Excelsior Project.
Figure 1: Diamond Drill Rig at Excelsior Gold-Silver Project near Buster Headframe
This initial drilling campaign is the first diamond drilling ever undertaken at Excelsior. Previous drilling was completed using Reverse Circulation (RC) drilling. The important differential is that the level of geological information obtained from diamond drilling will assist greatly with interpretation of the geology and provide the Company with a greatly enhanced ability to understand the controls on the high-grade mineralization.
QA/QC
The technical information presented in this news release has been reviewed by Benjamin Kuzmich, P.Geo., Vice President of Exploration for Athena Gold Corporation, and the Qualified Person for exploration at the Excelsior Lake Project, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects”. Readers are cautioned that historical records referred to in this press release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this press release are accurate. Information contained in this press release was taken from Mammoth Minerals Limited’s recent press release dated October 6, 2025.
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 additional exploration drilling and studies on its projects across North America. Athena’s Laird Lake project is situated in the Red Lake Gold District of Ontario, covering over 7,000 hectares along more than 10 km of the Balmer-Confederation Assemblage contact, where recent surface sampling results returned up to 373 g/t Au. This underexplored area is road-accessible, located about 10 km west of West Red Lake Gold’s Madsen mine and 34 km northwest of Kinross Gold’s Great Bear project. Meanwhile, its Excelsior Springs project is located in the prolific Walker Lane Trend in Nevada, where it is currently under an earn-in option with Mammoth Minerals Limited (formerly, Firetail Resources Limited). Excelsior Springs spans over 2,500 hectares and covers at least three historic mines. Athena also holds 100% interest in its Oneman Lake Au-VMS project in Ontario.
For further information about Athena Gold Corporation, please visit www.athenagoldcorp.com.
On Behalf of the Board of Directors Koby Kushner
President and Chief Executive Officer, Athena Gold Corporation
For further information, please contact:
Athena Gold Corporation
Koby Kushner, President and Chief Executive Officer
Phone: 416-846-6164
Email: kobykushner@athenagoldcorp.com
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x 251
Email: cathy@chfir.com
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 US. securities laws. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future exploration plans, 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 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.
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 stated.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
ADDITIONAL UNTESTED GOLD TARGETS IN RED LAKE, ONTARIO
WHITE ROCK, BC / ACCESS Newswire / September 11, 2025 / Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNRF) (“Athena” or the “Company”) is pleased to announce the identification of promising geophysical targets at its Laird Lake gold project in Ontario’s prolific Red Lake Gold District. Recent analysis of historical geophysics has highlighted at least six distinct zones of electromagnetic (EM) anomalism (G1 to G6), complementing the recently announced geochemical till anomalies (see press release dated September 4, 2025). Concurrently, Athena has mobilized a field crew to follow up on these anomalies and refine targets ahead of its maiden drilling campaign, planned for this upcoming winter.
Highlights
High-Resolution SkyTEM Survey: A 2017 SkyTEM EM and magnetic survey, conducted by a previous operator at 50-meter line spacing, identified six geophysical anomalies (G1 to G6) within the top 300 meters of the Laird Lake project area. These anomalies are hosted within the Balmer Assemblage, a critical geological unit for gold mineralization in the Red Lake Gold District. The previous operator had not drilled the project post-completion of the SkyTEM survey, indicating untested potential.
G1 Anomaly: Interpreted as a shallow folded banded iron formation (BIF). Surface sampling along strike returned anomalous gold values up to 0.7 g/t Au in BIF, coincident with undocumented historical hand-dug trenches.
G6 Anomaly: A 2016 drill program coincidentally intersected the margin of the G6 anomaly, encountering a sulphide-rich, silica-diopside altered mafic unit with anomalous gold values, confirming the prospectivity of these geophysical targets.
Athena Mobilizes Field Crew: Athena initiates a field program to ground-truth these newly defined targets, along with the recently defined targets (announced September 4th, 2025), to delineate drill targets for its maiden drill program. Additionally, Athena has pending assays results from the recently completed Phase 1 prospecting program.
Strategic Location: The 7,457-hectare Laird Lake project spans over 20 km of the Balmer-Confederation Assemblage contact, a key structural feature hosting over 90% of the gold mined in the Red Lake Gold District. The project is road-accessible, located 10 km west of West Red Lake Gold’s Madsen mine and 34 km northwest of Kinross Gold’s Great Bear project.
“Laird Lake continues to impress, proving to be more target-rich than we previously thought, with potential for multiple styles of gold mineralization as indicated by both the geophysical and geochemical anomalies,” said Koby Kushner, President and CEO of Athena Gold Corporation. “We anxiously await results from the phase 1 prospecting program and are excited to commence a follow-up program to ground-truth the till anomalies. This follow-up work will be instrumental in refining our high-priority targets for our upcoming winter drilling program, positioning Laird Lake as one of the next exciting grassroots plays to be tested in the Red Lake Gold District.”
Figure 1: Map of Laird Lake project, showing geophysical (pink) and geochemical (blue) anomalies.Figure 2: Plan and section views of G1 anomaly – the largest geophysical anomaly identified at Laird Lake to date.
Exploration Context and Next Steps
The geophysical anomalies were identified through re-analysis of a 2017 SkyTEM survey, which utilized high-resolution electromagnetic and magnetic data to map shallow conductors within the Balmer Assemblage. Unlike the recently identified till anomalies (Nemo, Bounty, Hugo, Chungus), which are interpreted to reflect near-surface, disseminated gold mineralization detected through Athena’s 2025 till sampling program, the geophysical anomalies lack surface expression and are considered “buried” targets. The SkyTEM survey is optimized for connected or massive sulphide deposits, suggesting that the geophysical targets (G1 to G6) may represent distinct mineralization styles from the disseminated till anomalies, enhancing the project’s exploration potential.
Athena’s systematic, data-driven approach integrates advanced datasets, including LiDAR, geological mapping, geochemical sampling, magnetics, and EM surveys, to de-risk exploration. The G1 anomaly, with its associated surface sampling (0.7 g/t Au) and historical trenching, and the G6 anomaly, validated by historical drilling, are priority targets for Athena’s maiden drilling program. The field crew will follow up the successful completion of the 2025 till survey (2,048 samples) and investigate the newly acquired land package expansion to 7,457 hectares, announced in July and September 2025, respectively. The upcoming winter drilling campaign will test both geophysical and geochemical targets, aiming to confirm high-grade vein and disseminated gold mineralization proximal to the Balmer-Confederation contact.
QA/QC
The technical information presented in this news release has been reviewed and approved by Benjamin Kuzmich, P.Geo., Vice President of Exploration for Athena Gold Corporation, and the Qualified Person for exploration at the Laird Lake Project, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects”.
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 additional exploration drilling and studies on its projects across North America. Athena’s Laird Lake project is situated in the Red Lake Gold District of Ontario, covering over 7,000 hectares along more than 10 km of the Balmer-Confederation Assemblage contact, where recent surface sampling results returned up to 373 g/t Au. This underexplored area is road-accessible, located about 10 km west of West Red Lake Gold’s Madsen mine and 34 km northwest of Kinross Gold’s Great Bear project. Meanwhile, its Excelsior Springs project is located in the prolific Walker Lane Trend in Nevada, where it is currently under an earn-in option with Mammoth Minerals Limited (formerly, Firetail Resources Limited). Excelsior Springs spans over 2,500 hectares and covers at least three historic mines. Athena also holds a 100% interest in its Oneman Lake Au-VMS project in Ontario.
For further information about Athena Gold Corporation, please visit www.athenagoldcorp.com.
On Behalf of the Board of Directors
Koby Kushner
President and Chief Executive Officer, Athena Gold Corporation
For further information, please contact:
Athena Gold Corporation
Koby Kushner, President and Chief Executive Officer
Phone: 416-846-6164
Email: kobykushner@athenagoldcorp.com
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x 251
Email: cathy@chfir.com
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 US securities laws. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future exploration plans, 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 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. 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 stated.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
