Maiden Drilling Program Provides Strong Initial Results At Excelsior Springs

WHITE ROCK, BC – Athena Gold Corporation reported strong initial results from the maiden diamond drilling program at Excelsior, with multiple shallow high-grade gold intercepts in the first three diamond holes at the Buster Mine Trend. These intercepts successfully tested 50m down-dip extensions and infill areas around the historic Buster Underground Mine (past production 19 koz @ 41 g/t Au) and validate Mammoth’s targeting model developed from 14.5 km of historical drilling.
Mineralisation remains open at depth and along strike; diamond drilling has thus far targeted ~1.1 km of the >5 km Buster Trend strike, with mineralization confirmed to 250m depth. Work has now commenced on an initial Mineral Resource Estimate and Exploration Target.
Nine additional diamond holes totaling 1.3 km drilled have assays pending targeting down-dip extensions beneath the Buster Underground and the ~350m-long by ~25m-wide Buster Open Pit. A high-resolution magnetic survey (40m line spacing) was conducted over the Excelsior Springs Project, including the additional claims recently staked.
Portions of this newly staked ground fall within the project’s 5 km Area of Interest (“AOI”) buffer around the existing Excelsior claims, automatically incorporating them into the joint venture (JV). The survey defined a large, 5.5 km x 4.2 km interpreted intrusive complex and associated caldera north of the Buster Trend.
The feature exhibits strong geological and structural similarities to the 4.2 Moz Goldfield Caldera located 35 km to the north-east. High concentrations of historic workings, shafts, pits and costeans occur along the margins of the intrusion; Mammoth has collected 350 rock-chip samples from these old workings with assays pending. Multiple skarn-type targets identified within and proximal to the intrusive complex. Preliminary structural interpretation has extended the prospective Buster Trend geological strike to 7.3 km.