Athena Gold Corporation · CSE:ATHA
Athena Gold — Investor Presentation (August 2026)
22 slides from Athena Gold's investor presentation, August 2026
Slide 1: Red Lake's Newest Grassroots Discovery
CSE: ATHA · OTCQB: AHNRF ATHENA GOLD Red Lake’s Newest Grassroots Discovery Discovery-stage gold exploration across Ontario’s Red Lake & Musselwhite Gold Districts, and Nevada's Walker Lane Trend CORPORATE PRESENTATION · AUGUST 2026
Slide 2: Disclaimer: Forward-Looking Information & Cautionary Notes
02 / 23 Certain information set forth in this Presentation, together with any supplements and any other information that may be furnished to prospective investors by the Company in connection therewith, DISCLAIMER contains “forward-looking statements” and “forward-looking information” within the mea
Slide 3: Disclaimer: Notice to United States Persons
03 / 23 DISCLAIMER DISCLAIMER This Presentation is not, and under no circumstances is to be construed as, a prospectus, offering memorandum, or an advertisement or a public offering of securities of the Company in any province or territory of Canada, including NOTICE TO UNITED STATES PERSONS Ontario
Slide 4: One ticker / Multiple Catalysts
One ticker 04 / 23 Multiple Catalysts Forester Laird Excelsior 01 O NT A RIO · RED LAKE 02 O NT A RIO · MUSSELWHITE 03 NE V A D A · WALKER LANE Laird Lake Forester Excelsior Springs New high-grade Scooby Zone discovery: 23.85 14,930-ha district-scale land position along Active RC drilling expanding
Slide 5: A tightly-held junior with three drill-ready projects
05 / 23 THE COM P A NY A tightly-held junior with three drill-ready projects. PROJECTS SHARES FULLY DILUTED WORKING CAPITAL LAIRD DRILL PROGRAM 3 40.7M $2.6M ~10,000m Ontario (Laird, Forester) · Nevada Tightly held capital structure Follow up drilling for 2026/2027 (Excelsior) CA P I TA L S TRUCTURE
Slide 6: Laird Lake
06 / 23 01 / 03 O N T A R I O · R E D L A K E D I S T R I C T Laird Lake High-grade gold along the Balmer-Confederation contact. ATHENA GOLD CSE: ATHA · OTCQB: AHNRF athenagoldcorp.com
Slide 7: A New Grassroots Discovery in One of the World's Premier Gold Camps
07 / 23 01 · LAIRD LAKE · THE CAMP A New Grassroots Discovery in One of the World’s Premier Gold Camps RED LAKE PRODUCTION >30M oz Among the highest-grade gold mines in the world PROVEN EXPLORATION MODEL ~94% Of all gold ever mined in the belt occurs within ~300m of the contact between two rock type
Slide 8: From Surface Anomaly to High-Grade Discovery
08 / 23 01 · LAIRD LAKE · THE PROPERTY From Surface Anomaly to High-Grade Discovery 23.85 g/t Au over 5m from just 21m downhole THE LAIRD LAKE PROJECT Area 7,457 ha Mineralized trend >10 km, largely untested Maiden drill program 9 holes / 5,134 m completed New discovery Scooby Zone Discovery hole 23
Slide 9: The right rocks, faulted into place
09 / 23 01 · LAIRD LAKE · THE GEOLOGY The right rocks, faulted into place. “ ” The Laird Lake property likely represents the continuation of the same mineralized structure found at both the Madsen and Starratt-Olsen mines that was later displaced as far as 10 km west by the dextral Laird Lake fault.
Slide 10: Successful Maiden Program & Discovery
10 / 23 01 · LAIRD LAKE · THE DISCOVERY Successful Maiden Program & Discovery 9 DIAMOND DRILL HOLES 5,134m TOTAL METERAGE 23.85 g/t Au over 5 m SCOOBY DISCOVERY Core photos from hole LL-26-006A returning 23.85 g/t over 5 m from 21 m depth ATHENA GOLD CSE: ATHA · OTCQB: AHNRF athenagoldcorp.com
Slide 11: G1 tested the model. G4 delivered the discovery.
G1 tested the model. G4 delivered the discovery. 11 / 23 LL-26-001 · G1 ANOMALY · WESTERN TARGET LL-26-005 · G4 ANOMALY · BALMER CONTACT No significant gold. Visible gold –> High-grade discovery Proof of structure, not yet proof of grade. 23.85 g/t Au over 5 m from 21 m The follow-up worked: What th
Slide 12: Forester
02 / 03 O N T A R I O · M U S S E L W H I T E G O L D C A M P Forester Shear-hosted targets next door to a 5 million ounce mine. ATHENA GOLD CSE: ATHA · OTCQB: AHNRF athenagoldcorp.com
Slide 13: 30 kilometers from a 5 million ounce mine
13 / 23 02 · FORESTER · THE PROPERTY 30 kilometers from a 5 million ounce mine 147 G/T AU · PEAK SURFACE GRAB THE FORESTER PROJECT Area ~14,930 ha Distance to Musselwhite ~30 km SE Musselwhite Production* > 5M oz Au Best Historic Intercept 60 gram-metres (0.7 g/t Au over 89m) Other Intercepts 2 hole
Slide 14: Tex Zone, Drilled in the 80s, ignored ever since
14 / 23 02 · FORESTER · WHY NOW Tex Zone, Drilled in the 80s, ignored ever since. 01 HISTORIC RESULTS, MODERN 03 NEW NEIGHBOURS, NEW MARKET INTEREST Between 1984 and 1986 only 16 Equinox acquired Musselwhite shallow holes were drilled on the and is aggressively exploring the eastern Tex Zone. At the
Slide 15: Excelsior Springs
15 / 23 03 / 03 N E V A D A · W A L K E R L A N E T R E N D Excelsior Springs Near-surface oxide gold-silver in the #1 mining jurisdiction. Maiden resource coming soon. ATHENA GOLD CSE: ATHA · OTCQB: AHNRF athenagoldcorp.com
Slide 16: In the world's #1 mining jurisdiction
16 / 23 03 · EXCELSIOR SPRINGS · THE TREND In the world's #1 mining jurisdiction. EXCELSIOR SPRINGS · DISCOVERY HOLE 5.35 g/t Au over 33.5 m Round Mountain Mine • 8>143k oz AuEq annually COMSTOCK WALKER LANE TREND Borealis • New 2024 IPO ROUND MOUNTAIN >40M oz BOREALIS TONOPAH W E S T Gold produced
Slide 17: Optioned to Mammoth Minerals. Athena keeps the upside.
17 / 23 03 · EXCELSIOR SPRINGS · THE DEAL THE PARTNER Optioned to Mammoth Minerals. Athena keeps the upside. Mammoth Minerals (ASX: M79) 01 02 03 04 AUD $200K cash 32 M shares of Mammoth USD $5M of exploration Athena: 20% free carry Paid to Athena on signing Issued to Athena — equity Spend by Mammot
Slide 18: Drill bits in the ground. Gold near all-time highs.
18 / 23 WH Y NO W Drill bits in the ground. Gold near all-time highs. 01 Aiming for a grassroots discovery Maiden drill program at Laird Lake is fully financed and underway in 2026. First high-grade hits could re- rate the company. 02 Tight share structure 40.7 M shares fully diluted with 30% strate
Slide 19: Discovery, capital markets, and accounting under one roof
19 / 23 T H E T E A M Discovery, capital markets, and accounting under one roof. Koby Kushner, P.Eng., CFA David Goodman, LLB, CFA PRESIDENT, CEO & DIRECTOR CHAIRMAN & DIRECTOR 10 years in mining engineering and capital markets. Past CEO of DundeeWealth and Dynamic Funds. Ty Minnick, CPA CHIEF FINAN
Slide 20: Exploring North America's most prolific gold camps
20 / 23 Exploring North America’s most prolific gold camps. Follow up drilling in 2026/2027. ATHENA GOLD CSE: ATHA · OTCQB: AHNRF athenagoldcorp.com
Slide 21: Talk to us.
21 / 23 G ET IN T O U CH Talk to us. ATHENA GOLD CORPORATION ATHENA GOLD CORPORATION Koby Kushner Farid Mammadov PRESIDENT, CEO & DIRECTOR VP, Investor Relation EMAIL kobykushner@athenagoldcorp.com EMAIL Faridmammadov@athenagoldcorp.com PHONE +1 (416) 846-6164 PHONE +1 (343) 996-8626 FOLLOW @AthenaG
Slide 22: Appendix
Appendix 1Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, prepared by SRK Consulting (Canada)