Athena Gold Successfully Completes Excelsior Springs Monetization

About this update from Athena Gold Corporation

[{"type":"text","content":"EXCELSIOR SPRINGS FULLY FUNDED FOR 2025 DRILLING PROGRAM","length":56,"tagName":"p"},{"type":"text","content":"WHITE ROCK, BC / ACCESS Newswire / August 22, 2025 / Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNRF) ("Athena" or the "Company") is pleased to announce that, further to its news release dated June 2, 2025, Mammoth Minerals Limited (ASX:M79) (formerly, Firetail Resources Limited) ("Mammoth" or "M79") has exercised its option to be able to earn an 80% interest in Athena's Excelsior Springs project in Nevada, USA (the "Excelsior" project), effective August 19, 2025 (the "Exercise Date"). In consideration. Mammoth has paid Athena AUD$200,000 in cash and issued 32,000,000 ordinary shares in the capital of Mammoth, worth AUD$3,200,000 based on M79's closing price on the Exercise Date.","length":755,"tagName":"p"},{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":302,"height":302,"url":"https://media.zenfs.com/en/accesswire.ca/3be4c94584adb1563852beea3d1f0fe5"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/D16zW7xQkBjKuvYkId57.g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTQyMDtjZj13ZWJw/https://media.zenfs.com/en/accesswire.ca/3be4c94584adb1563852beea3d1f0fe5","width":302,"height":302},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/D16zW7xQkBjKuvYkId57.g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTQyMDtjZj13ZWJw/https://media.zenfs.com/en/accesswire.ca/3be4c94584adb1563852beea3d1f0fe5","width":302,"height":302}}},{"type":"text","content":""We are pleased to have partnered with a very capable Australian company to build upon our 2023 high-grade gold discovery at Excelsior. Mammoth recently completed a AUD$5 million financing, and per its press release dated August 4, 2025, intends to use these funds to drill Excelsior towards a maiden resource. We continue to retain significant exposure to Excelsior through our royalty interests and our 20% free-carried interest to Definitive Feasibility Study, in addition to our substantial shareholding of M79. The cash and M79 shares further strengthens our balance sheet, comprising over CAD$3 million in cash and securities, at an opportune time as we advance our Ontario gold portfolio, where we are actively defining ne...

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