Drill Program Commencement To Further Delineate Shallow High-grade Gold Intercept From Discovery Hole DB-23

VACAVILLE, CA - Athena Gold Corporation reported the commencement of the fall 2022 reverse circulation (RC) drill program consisting of six (6) angle holes for an estimated 2,000 feet (610 meters) at its Excelsior Springs Project located approximately 45 miles southwest of Goldfield in Esmeralda County, Nevada. The Bureau of Land Management approved the permit for further drilling.

John Power, President and CEO, said, "The first three proposed holes are focused on further delineating the mineralized zone around the intercept in our discovery hole DB-23, this hole drilled in our spring 2022 RC drill program, contained 110 feet (34 meters) of 5.2 g/t Au and 8.9 g/t Ag, the best drill hole intercept in the history of the project." Power continued "Our next three proposed holes will be testing other high priority drill targets to follow up on historic drill intercepts that also had significant Grade x Thickness ("GT") products. This program should provide invaluable data as we further explore and develop the Project. Excelsior Springs is emerging as one of the best advanced gold exploration projects in Nevada."

Proposed Holes 1-3 will target east, west and up-dip from high grade gold intercept in hole DB-23, which started at 140 feet (43 meters) deep and contained 110 feet (34 meters) of 5.2 g/t Au and 8.9 g/t Ag, including 55 feet (17 meters) of 10.0 g/t Au and 17.3 g/t Ag, and 35 feet (11 meters) of 15.3 g/t Au and 26.5 g/t Ag.

DB-23 contained the highest-grade intercept of more than 20 feet thick at the Project and its Grade x Thickness ("GT") product of 566 is twice as large as the next highest GT on the Project. In addition, DB-23 is open up and down dip and untested for potential strike length extensions of at least 450 feet (137 meters) to the west and more than 1,000 feet (305 meters) to the east.

Proposed Hole 4 will test up dip from a 110 feet (34 meters) intercept in EX-2 averaging 2.7 g/t Au from 230 (70 meters) to 340 feet (140 meters) and the second-best GT of 299.9 on the Project. Hole 4 will also be drilled approximately 100 feet (30 meters) below a surface sample reported at 30 feet (10 meters) of 3.1 g/t Au. Proposed Hole 5 will test down dip from a 90 ft (27 meters) intercept in 88-06 averaging 2.5 g/t Au from 0 to 90 ft (27 meters), which is the third best GT at 223.92 on the Project. Hole 5 will also test downdip from the 110 ft (34 meters) intercept of 2.7 g/t Au in EX-2 discussed in Hole 4 above. Proposed Hole 6 will test up dip from intercepts in EX-15 of 35 ft (11 meters) of 0.74 g/t Au from 15 to 35 ft, 100 ft (30 meters) of 0.87 from 65 (20 meters) to 165 (50 meters) and 40 ft (12 meters) of 0.94 from 185 (56 meters) to 225 ft (69 meters) as well an intercept from 0 to 125 feet (38 meters) averaging 0.93 g/t Au in hole 88-08. Total GT's are 138.72 in EX-15 and 116.63 in 88-08.