Purchase Of Two Key Patented Claims At Excelsior Springs Project

VACAVILLE, CA - Athena Gold Corporation has finalized its purchase of two key patented claims, the Fortunatus and Prout lode mining claims (Mineral Survey 4106), located in Esmeralda County, Nevada. The Claims were previously held by the Company under a lease option agreement that was set to expire in June 2023 and are an integral part of the Company's flagship Excelsior Springs project located in Nevada and include the historic high-grade Buster gold Mine. The Fortunatus lode claim was originally located on July 10, 1873, and the Prout lode claim was located on January 21, 1892. The patented claims were awarded in 1938 and signed by President Woodrow Wilson. The Buster Mine produced an estimated 35,000 ounces of high-grade gold averaging 1 ounce of gold per ton between its discovery in 1873 and the early 1900s of. Gold bullion from the Buster Mine was shipped to the Carson City Mint in Carson City, Nevada.

Athena is planning a Phase 2 drill program for the Project to follow up on its recent discovery hole DB-23. The discovery hole started at a shallow depth of 140 feet (42.7 meters) with a 110-foot (33. 5 meters) intercept of 5.15 Au g/t and 8.9 Ag g/t including a 55-foot (16.8 meters) intercept of 10.03 Au g/t and 17.3 silver g/t, and a 35-foot (10.7 meters) intercept of 15.3 Au g/t and 26.5 Ag g/t.

DB-23 contained the highest-grade intercept of more than 20 feet thick at the Project and its Grade x Thickness ("G x T") product of 566 is twice as large as the next highest G x T from the Project's known historical RC drilling. In addition, it is open up and down dip and untested for potential strike length extensions of at least 450 feet to the west and more than 1,000 feet to the east.