Athena optionee drills 14.4m of 4.33g/t Au at Excelsior

Executive Summary

• Athena Gold reports strong initial diamond drilling results from Mammoth Minerals’ maiden program at the Excelsior Springs project, including multiple high‑grade gold intercepts that validate and extend the geological model.
• A high‑resolution airborne magnetic survey identified a large intrusive complex comparable to the historic Goldfield caldera, expanding the prospective strike length of the Buster trend to 7.3 km and revealing new skarn‑type targets.
• Work has commenced on an initial mineral resource estimate and exploration target, with additional drill holes pending assay results.

Key Details

• Diamond Drilling – Buster Trend (Mammoth Minerals):
• Hole MEXDD004: 14.4 m @ 4.33 g/t Au from 117 m depth, including 3.1 m @ 19.10 g/t Au (119.36‑122.46 m) and 0.95 m @ 15.98 g/t Au (124.5‑125.45 m).
• Hole MEXDD001: 25.5 m @ 1.05 g/t Au from 35.45 m depth, including 0.55 m @ 26.7 g/t Au.
• Drilling Coverage: Approximately 1.1 km of the >5‑km Buster trend strike has been tested; mineralization confirmed to 250 m depth and remains open both down‑dip and along strike.
• Pending Assays: Nine additional holes (totaling 1.3 km) drilled, targeting downdip extensions beneath the historic underground mine and a ~350 m × 25 m open pit; results forthcoming.
• Airborne Magnetics Survey: Conducted at 40‑m line spacing over the entire Excelsior Springs project plus newly staked claims.
• Defined a 5.5 km × 4.2 km interpreted intrusive complex and associated caldera north of the Buster trend, analogous to the 4.2‑million‑ounce Goldfield caldera.
• Identified high concentrations of historic workings along intrusion margins; 350 rock‑chip samples collected (assays pending).
• Multiple skarn‑type targets identified within/proximal to the intrusive complex.
• Project Scope Expansion: Preliminary structural interpretation extends prospective Buster trend strike length from ~5 km to ~7.3 km.
• Resource Work Initiated: Athena has begun preparation of an initial mineral resource estimate and definition of an exploration target for the Excelsior Springs project.
• Qualified Person: Benjamin Kuzmich, P.Geo., Vice‑President of Exploration (Athena Gold) – NI 43‑101 qualified person reviewed technical information.

Notable Quotes

(No direct quotes were provided in the release.)