Athena Receives Permits for Maiden Drill Program at Laird Lake Project in Ontario's Red Lake Gold Camp

Executive Summary

• Athena Gold received all required permits and is ready to commence a fully funded ~5,000‑metre diamond‑drill program at its Laird Lake project in the Red Lake Gold District.
• The drill campaign (8–10 holes) will test newly identified geophysical (G1, G4‑G6) and geochemical (Rigby) anomalies, targeting high‑grade gold zones previously indicated up to 373 g/t Au.
• Athena entered an arm’s‑length exploration agreement with the Wabauskang First Nation, issuing 100,000 common shares at a deemed price of CDN$0.065 per share, subject to hold and resale restrictions.

Key Details

• Permits: Permit PR 25 00201 received for maiden drill program at Laird Lake.
• Drill Program Scope: ~5,000 m total depth; 8–10 holes; designed to intersect multiple zones per hole.
• Target Anomalies: Geophysical targets G1, G4‑G6 (conductive bodies from SkyTEM data) and the Rigby showing within the Bounty geochemical anomaly.
• Historical Context: 2017 Premier Gold drill intersected up to 0.15 g/t Au over 19 m; visible gold noted in adjacent holes.
• Mineralization Controls: Generation 1 (east‑west, replacement style with pyrite/arsenopyrite/tourmaline) and Generation 2 (northeast‑oriented cuts).
• Assay Plan: In addition to gold, assays will include copper, nickel, and platinum‑group elements due to conductive anomaly potential.
• Exploration Agreement (Feb 20 2026):
• Parties: Athena Gold Corp. & Wabauskang First Nation.
• Consideration: Issuance of 100,000 common shares at CDN$0.065 per share.
• Hold Period: Four months plus one day; resale subject to securities regulations.
• Conditions: Receipt of all regulatory approvals, including CSE approval.
• Qualified Person: Benjamin Kuzmich, P.Geo., VP Exploration, reviewed and approved technical information (NI 43‑101).

Notable Quotes

“Our upcoming program marks a major milestone for Athena, representing our first shot on the net to make a grassroots gold discovery in Ontario.” – Koby Kushner, CEO, Athena Gold Corporation.