Athena Gold Corp Stock Price, News & Analysis

Athena Gold (OTCQB:AHNRF) has announced that Mammoth Minerals (ASX:M79) has exercised its option to earn an 80% interest in the Excelsior Springs project in Nevada. As compensation, Athena received AUD$200,000 in cash and 32 million Mammoth shares valued at AUD$3.2 million.

Under the agreement, Mammoth must invest USD$5 million in exploration over five years to earn its stake. Athena retains a 20% free-carried interest until completion of a Definitive Feasibility Study and a 1% net smelter return royalty on certain claims. Separately, Athena has terminated its Memorandum of Understanding regarding the Crow Springs project in Nevada.

Athena Gold Corporation (OTCQB:AHNRF) has made its annual option payment for the Laird Lake gold project in Red Lake, Ontario. The payment consists of 500,000 common shares at $0.05 per share and a $25,000 cash payment to Bounty Gold Corp.

The company has the option to acquire 100% interest in the project through payments totaling $1.2 million over five years. Future payments include annual $50,000 installments from 2026-2028, with a final payment of $1-1.75 million in 2029, depending on the cash-to-shares ratio chosen.

Additionally, Athena Gold will settle a $49,050 debt through the issuance of 981,000 common shares at $0.05 per share to an arm's length creditor for unpaid consulting services.

Athena Gold (OTCQB:AHNRF) has announced significant expansions of two key projects. The company's Laird Lake gold project in Ontario's Red Lake Gold District has grown by 24% through the acquisition of 995 additional hectares, bringing the total to 5,155 hectares. The project is strategically located near major gold mines and spans over 10 km of the prospective Balmer-Confederation Assemblage contact.

Additionally, Athena's Excelsior Springs project in Nevada has expanded by over 50% to 2,500 hectares through the staking of 115 unpatented mining claims. Partner Firetail Resources has identified a 5+ km fluid conduit for gold within the Buster Trend and plans to commence diamond drilling in Q3 2025.

Athena Gold (OTCQB:AHNRF) has completed a comprehensive till survey at its Laird Lake gold project in Ontario's Red Lake Gold District. The survey collected 2,048 till and QAQC samples across the 4,158-hectare property, using grid spacings of 100m x 100m within key assemblages and 200m x 200m in surrounding areas.

The project is strategically located 10 km west of West Red Lake Gold Mines' Madsen Mine and 34 km northwest of Kinross Gold's Great Bear project. The company expects assay results in late summer 2025, which will guide their planned winter drilling program. The survey aims to identify gold-in-till anomalies and refine high-priority drill targets.

Athena Gold (AHNRF) has entered into a property option agreement with Firetail Resources Limited, granting Firetail the right to acquire an 80% interest in the Excelsior Springs Project in Nevada. Under the agreement, Firetail will pay AUD$200,000 in cash, issue 32 million ordinary shares, and invest USD$5 million in exploration over five years. Athena Gold will retain a 1% net smelter return royalty and a 20% free-carried interest until a Definitive Feasibility Study is completed. The deal's total value, when normalized to 100%, approaches Athena's current market cap. Additionally, Athena has begun mobilization for its till program at the Laird Lake project in Red Lake, Ontario, which will become the company's new flagship project following the Excelsior monetization.

Athena Gold Corporation has announced significant results from its 2024 prospecting program at the Excelsior Springs project in Nevada's Walker Lane Trend. The company identified the new Rhino Zone, which yielded high-grade gold samples up to 27.1 g/t Au, along with silver and lead content. At the Blue Dick Trend, previously reported samples showed impressive results of up to 6,630 g/t Ag and 1.53% Sb (antimony). Following these discoveries, Athena expanded its land holdings by 68 hectares to better encompass these promising areas. The project now features multiple mineralized trends including the Buster Trend, Ridge Trend, Rhino Trend, and Blue Dick Trend, each with distinct characteristics and potential. The company is receiving third-party interest for potential joint venture partnerships across its Nevada portfolio.

Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNRF) has resumed trading on the OTCQB market under its new ticker symbol "AHNRF" on May 6, 2025. The symbol change follows the company's recent redomicile from Delaware to British Columbia and merger with its British Columbia subsidiary, Nova Athena Gold Corp., completed on April 15, 2025. The company maintained its name as Athena Gold Corporation and its Canadian Securities Exchange symbol "ATHA" remains unchanged. Following these changes, Athena Gold qualified as a Foreign Private Issuer under SEC regulations. Current shareholders are not required to take any action regarding the OTCQB ticker symbol change.

Athena Gold has successfully closed an oversubscribed non-brokered private placement of flow-through common shares, raising CDN$765,000 - exceeding the original target by CDN$265,000. The company issued 15.3 million flow-through shares at CDN$0.05 per share.

The proceeds will be invested in the company's Laird Lake and Oneman Lake Projects in Ontario, Canada. The funds will be used for eligible resource exploration expenses qualifying as Canadian exploration expenses, which must be incurred by December 31, 2026, and renounced to purchasers by December 31, 2025.

Key details of the offering:

• Finder's fees: 480,000 units issued (each including one non-flow-through share and one warrant)
• Warrants exercise price: CDN$0.12 per share
• Warrant term: 18 months
• Additional finder's fee: 1,737,236 common shares at CDN$0.05

All securities issued have a four-month and one-day hold period. No insiders participated in the offering.