High-Grade Gold And Silver Assays From Lida Bell Zone At Excelsior Springs Project

VACAVILLE, CA - Athena Gold Corporation reported on the recent reconnaissance and sampling program at its Excelsior Springs Project located approximately 45 miles southwest of Goldfield, Nevada. In January, Athena announced the staking of 51 new Federal claims on BLM lands thereby expanding the Project to 195 claims. These claims added numerous high-grade gold and silver prospects that also contain significant base metals. One of the emerging targets is the historic Lida Bell mine located about 3,200 meters (2 miles) southeast of the Western Slope Zone (WSZ) on the eastern flank of Palmetto Mountain.

Company consulting geologists examined the Lida Bell area, identified several outcrops and collected five samples for analysis. One of these samples returned 51.4 grams gold per tonne (1.7 oz/ton) and another contained 509 grams silver per tonne (16.2 oz/ton).

The following new targets are planned for drilling and further exploration, in addition to the WSZ: A relatively shallow IP anomaly that is approximately 1,700 m WSW of the WSZ; DH GE14 has 80 feet of 1.1 g Au/t only 30 feet deep and is 300 m east of WSZ. Note that this hole is in the immediate vicinity of the South Ridge Thrust Fault (SRTF); DH GE26 has 665 feet of anomalous gold with nine pathfinder elements indicative of IRG deposits and is 1,300 m ENE of the WSZ. The SRTF may also have a bearing on the mineral in GE26; and Lida Bell prospect is 3,200 m ESE of the WSZ.

John Power, President, and CEO, said, "The Lida Bell zone is a meaningful extension of known high grade gold mineralization at our flagship Project. There has been virtually no exploration in this area for over 50 years and further mapping, sampling and analysis of this area is planned.

We remain committed to future exploration of the Western Slope and GE-14 drill targets, but this developing target potentially demonstrates a much larger mineral system over a widespread area and area than previously theorized. Although the surface samples were limited in quantity, it could be further evidence of the Excelsior system pumping mineralization to the surface via fractures" added Power.”