Athena identifies geophysical targets at Laird Lake

Executive Summary

• Athena Gold Corp. has identified six new geophysical electromagnetic anomalies (G1–G6) at its Laird Lake gold project in Ontario’s Red Lake district, complementing previously announced geochemical till anomalies.
• The company has mobilized a field crew to ground-truth these targets and refine drill plans ahead of a maiden drilling campaign scheduled for the upcoming winter.
• The project now covers 7,457 hectares, with priority targets including the G1 anomaly (shallow folded BIF with surface gold values up to 0.7 g/t) and the G6 anomaly (validated by historical drilling intersecting sulphide-rich, gold-anomalous mafic units).

Key Details

• Geophysical Targets: Six distinct electromagnetic anomalies (G1 to G6) identified within the top 300 metres of the project area via reanalysis of a 2017 SkyTEM survey (50-metre line spacing).
• G1 Anomaly Details: Interpreted as a shallow folded banded iron formation (BIF). Surface sampling along strike returned gold values up to 0.7 g/t Au, coincident with undocumented historical hand-dug trenches.
• G6 Anomaly Details: A 2016 drill program intersected the margin of this anomaly, encountering a sulphide-rich, silica-diopside-altered mafic unit with anomalous gold values, confirming prospectivity.
• Field Activity: Field crew mobilized to ground-truth the six geophysical targets and the geochemical till anomalies (Nemo, Bounty, Hugo, Chungus) announced on Sept. 4, 2025.
• Pending Results: Athena is awaiting assay results from the recently completed Phase 1 prospecting program.
• Project Size: The Laird Lake project spans 7,457 hectares, covering over 20 kilometres of the Balmer-Confederation assemblage contact.
• Location Context: 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.
• Exploration Strategy: Integration of lidar, geological mapping, geochemical sampling, magnetics, and EM surveys to derisk exploration. The SkyTEM survey is optimized for connected/massive sulphide deposits, suggesting mineralization styles distinct from the disseminated till anomalies.
• Future Plans: The 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.
• Qualified Person: Benjamin Kuzmich, PGeo, Vice-President of Exploration, reviewed and approved the technical information.

Notable Quotes

• "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 chief executive officer of Athena.
• "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."