RC Drill Program Starts At Excelsior Springs Project

VACAVILLE, CA - Athena Gold Corporation has commenced its first 2023 RC drill program at the Excelsior Springs Project located in Esmeralda County, Nevada. The spring 2023 RC drill program is planned for up to 1,500 meters (about 4,500 feet). Drilling is focused on expanding the footprint of the newly discovered shallow high-grade oxide gold in the Western Slope zone with 30-meter (100 foot) incremental step-outs along the indicated strike both east and west. These angle holes will be drilled due south parallel to the discovery hole DB-23.

John Power, President & CEO, said, "Management is excited to see the drills turning at Excelsior Springs. We believe this program is a potential inflection point for the company and we will keep the market updated as we continue to delineate the newest shallow high-grade oxide gold discovery in the Walker Lane trend."

Athena completed two RC drill programs in 2022 and intersected shallow high-grade oxide gold intervals which now comprise the Western Slope Zone. DB-23: Intercepted a 33.5 meter intercept of 5.15 g/t Au and 8.9 g/t Ag, including a 16.7- meter intercept of 10.03 g/t Au and 17.3 g/t Ag, and a 10.6 meter intercept of 15.3 g/t Au and 26.5 g/t Ag. DH 22-01: Intercepted 6.05 g/t Au and 17.4 g/t Ag over 27.4 meters starting at 39.5 meters, including 10.2 g/t Ag and 30.8 g/t Ag over 10.7meters. A deeper zone starting at 77.7 meters intercepted 4.97 g/t Au and 14.4 g/t Ag over 13.7 meters. DH 22-02: Intercepted 4.49 g/t Au and 27.3 g/t Ag over 15.2 meters starting at 41.1 meters, including 7.29 g/t Au and 44.2 g/t Ag over 9.1 meters. A deeper zone starting at 68.6 meters intercepted 1.20 g/t Au and 7.7 g/t Ag over 7.6 meters.

It is important to note that DB-23, 22-01 and 22-02 all intercepted the high-grade gold mineralization at shallow depths, beginning 30 meters below the surface. True widths of the intercepts are not known. These holes were all drilled in 2022 and yielded the best GT results in the history of the Excelsior Springs project with over 100 RC holes drilled over the last 50 years. Follow up Core and/or RC drill programs are contemplated for later in 2023 after analysis of the results from this first 2023 program. The program's drill meterage (footage) and number of RC holes is subject to revision based upon field analysis and conditions.