Athena Gold Mobilizes For Maiden Drill Program At Laird Lake Project

Executive Summary

• Athena Gold has mobilized drilling contractors and equipment to begin a fully funded ~5,000‑metre, ten‑hole diamond drill program at its Laird Lake project in the Red Lake Gold District.
• The drill campaign will test high‑priority geophysical and geochemical anomalies across BIF, Balmer, and Confederation assemblages, with core to be assayed for gold as well as copper, nickel, and PGEs.
• Concurrently, Athena completed a 9.9‑for‑1 share consolidation; post‑consolidation shares began trading on the CSE on April 2, 2026, resulting in 35,820,061 common shares outstanding and adjusted warrants/stock options.

Key Details

• Drill Program Scope: ~5,000 m total depth across ten diamond drill holes targeting newly interpreted geophysical conductors and historic geochemical anomalies.
• Target Zones:
• Banded Iron Formation (BIF) – never‑drilled fault‑transected target.
• Balmer Assemblage – high‑priority mafic/ultramafic host rocks for gold.
• Confederation Assemblage – disseminated mineralization potential, including the newly identified Rigby showing.
• Assay Plan: Core to be analyzed for Au and also for Cu, Ni, and platinum‑group elements (PGEs) due to the presence of mafic/ultramafic lithologies.
• Geophysical Basis: Reprocessed SkyTEM magnetic and EM data reveal multi‑km‑long stacked low‑to‑medium conductance zones aligned with magnetic breaks, interpreted as potential sulphide‑rich bodies.
• Share Consolidation: 9.9 pre‑consolidation shares exchanged for each post‑consolidation share; new CUSIP 04684R204 and ISIN CA04684R2046.
• Post‑Consolidation Share Count: 35,820,061 common shares issued and outstanding; all warrants and incentive stock options adjusted accordingly.
• Qualified Person Review: Technical information approved by Benjamin Kuzmich, P.Geo., VP of Exploration (NI 43‑101 Qualified Person).

Notable Quotes

“Getting the drill turning at Laird Lake is a pivotal moment for our team,” said Koby Kushner, CEO of Athena. “The fully funded program follows almost two years of extensive data collection… with the goal of making the next grassroots discovery in Red Lake.”