Athena Gold Corporation · CSE:ATHA
Athena Gold — Investor Presentation (March 2026)
23 slides from Athena Gold's investor presentation, March 2026
Slide 1: Exploring in Prolific Gold Belts
Exploring in Prolific Gold Belts March 2026 CSE: ATHA | OTCQB: AHNRF CSE: ATHA | OTCQB: AHNRF
Slide 2: Disclaimer
DISCLAIMER The information contained in this corporate presentation (the “Presentation”) has been prepared by the Company and contains confidential information pertaining to the business and operations of the Company. The information contained in this Presentation: (a) is provided as at the date her
Slide 3: Disclaimer
DISCLAIMER NOTICE TO UNITED STATES PERSONS This Presentation does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities of the Company in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qu
Slide 4: Why Invest?
WHY INVEST? Red Lake / Laird Lake Project (Ontario) • Major footprint in the heart of Red Lake: 7,457 ha along >10 km of the Balmer–Confederation contact in the Red Lake District (>30M oz); near West Red Lake Gold’s Madsen Mine and Kinross’s Great Bear project ONT ARI • Infrastructure: Multiple acce
Slide 5: Discovery-Driven Exploration in Ontario & Nevada
DISCOVERY-DRIVEN EXPLORATION IN ONTARIO & NEVADA Forester Lake (North Caribou Greenstone Belt) • Strategic Location: ~30km SE of Orla’s Musselwhite Mine (>2M oz NEVADA NEVADA Au) • Target: Banded Iron Formation and shear hosted targets Forester Excelsior • Proven Mineralization: Historic drilling in
Slide 6: Ontario Portfolio: Laird Lake (Au)
ONTARIO PORTFOLIO Laird Lake (Au) CSE: ATHA | OTCQB: AHNRF www.athenagoldcorp.com | 6
Slide 7: Red Lake Gold Camp
RED LAKE GOLD CAMP Red Lake District • >30M oz Au produced from amongst the highest-grade mines globally • Long mining history dating back to 1920s, with local workforce and infrastructure Prime Geology • >90% of Au mined in Red Lake is within ~300 m of Balmer-Confederation contact • Laird is hosted
Slide 8: Laird Lake
LAIRD LAKE Balmer-Confederation Contact Laird Lake Fault Madsen Project (TSXV:WRLG) • 2.5M oz produced historically Dextral movement • 1.7M oz indicated /0.4M oz inferred Madsen Mine Starratt-Olsen Mine Laird Laird Lake Project (CSE:ATHA) Lake Project • samples up to 373 g/t Au “The Laird Lake prope
Slide 9: Laird Lake
LAIRD LAKE RECENT WORK: • Recon prospecting confirmed >5 km trend of mineralization coincident with the Balmer- Confederation contact, with samples up to 373 g/t Au 373 g/t Au* • Property-wide, ~2,000 sample, till geochem survey in *see December 4, 2024, press release 2025 defined new, untested targ
Slide 10: Laird Lake Till Sampling Results
LAIRD LAKE TILL SAMPLING RESULTS Four new zones discovered, up to 3,000 metres in length Arsenopyrite laths in gold-bearing mafic volcanic rock from the Bounty Zone Till Sampling Results: • Newly named Nemo, Bounty, Hugo, and Chungus zones • Three new zones represent opportunities to make near-surfa
Slide 11: Laird Lake Geophysical Interpretation
LAIRD LAKE GEOPHYSICAL INTERPRETATION Untested geophysical targets to be drilled Geophysical Interpretation: • Analysis of historical geophysics has highlighted six distinct zones of electromagnetic anomalism (G1 to G6) • Refined drill targets planned for winter campaign CSE: ATHA | OTCQB: AHNRF www
Slide 12: Laird Lake
LAIRD LAKE Maiden drill program to test both geochem + geophys anomalies G5 G6 G1 G3 Chungus G4 Hugo G2 Bounty Nemo Strongly altered felsic volcanic rock from the Confederation assemblage FULLY-FINANCED DRILL PROGRAM TO COMMENCE SHORTLY • Drill contractors lined up to mobilize this quarter • Initial
Slide 13: Ontario Portfolio: Forester (Au)
ONTARIO PORTFOLIO Forester (Au) CSE: ATHA | OTCQB: AHNRF www.athenagoldcorp.com | 13
Slide 14: North Caribou Greenstone Belt
North Caribou Greenstone Belt Strategic Location • Located in the prolific North Caribou Greenstone Belt, host to Orla’s Musselwhite Mine (>5M oz Au historic production) Prime Geology • Forester is located down strike of Musselwhite mine in the same structural setting • Targeting Banded Iron Formati
Slide 15: Forester: The Why Now? Opportunity
Forester The “Why Now?” Opportunity Great drill results despite low exploration maturity • Between 1984 and 1986, only 16 shallow holes were drilled on the eastern ‘Tex’ zone • At the time of drilling, the holes drilled on the Tex zone were considered uneconomic, but are very economic in today’s mar
Slide 16: Nevada Portfolio: Excelsior Springs (Au-Ag)
NEVADA PORTFOLIO Excelsior Springs (Au-Ag) CSE: ATHA | OTCQB: AHNRF www.athenagoldcorp.com | 16
Slide 17: Nevada's Walker Lane Trend
706k oz Au in 2P reserves, initial production by YE2028 NEVADA’S WALKER LANE TREND Top-Rated Mining Jurisdiction • Nevada is ranked number 1** as the top COMSTOCK Round Mountain Mine • >230k oz AuEq annually mining jurisdiction globally in investment attractiveness (Fraser Institute, 2023) ROUND MOU
Slide 18: Excelsior Springs
EXCELSIOR SPRINGS Option to Mammoth Minerals (ASX: M97) • Mammoth Minerals Limited (formerly, Firetail Resources Limited) exercised its option to earn an 80% interest in Excelsior Springs • Mammoth has paid Athena AUD$200,000 in cash and issued 32,000,000 ordinary shares in the capital of Mammoth •
Slide 19: Capital Structure
CAPITAL STRUCTURE (as of January 2026) Carlton Precious 17% Shares Issued 312.5M Other Warrants 38.9M 44% Libra Energy Materials 14% Stock Options 8M Management, Directors, Fully Diluted 359.4M Insiders 25% 52 Week High/Low $0.09/$0.035 Cash & Marketable Securities ~CAD$7.7M CSE: ATHA | OTCQB: AHNRF
Slide 20: New Management
NEW MANAGEMENT David Goodman “ Chairman & Director Our team is young, • Co-founder Libra Energy Materials • Former CEO of Dynamic Funds, Dundee Wealth, Dundee Corp. entrepreneurial, and highly technical. Koby Kushner, P.Eng., CFA It is our every intention to President, CEO & Director build a great a
Slide 21: New Management
NEW MANAGEMENT Ben Kuzmich, MSc., P.Geo. VP Exploration • 15 years in mining, mineral exploration, and resource definition • Discoveries include Little Wing Au zone (Alamos’ Lynn Lake), E-Zone (Barrick’s Hemlo), and Flanders, SBC, and Docker Li discoveries (Libra) Andrew Jedemann, MSc., P.Geo. Explo
Slide 22: Board & Management
BOARD & MANAGEMENT Koby Kushner, P.Eng., CFA | President, CEO & Director David Goodman, LLB, CFA | Chairman & Director • 10 years of experience in mining engineering and • Past CEO, DundeeWealth, Dynamic Funds capital markets John C. Power | Director, Corporate Secretary, Ty Minnick, CPA | Chief Fin
Slide 23: Contact Us
CONTACT US Athena Gold Corporation Koby Kushner, President, CEO & Director [email protected] +1 (416) 846-6164 CHF Capital Markets Cathy Hume, CEO [email protected] +1 (416) 868-1079 x 251 @AthenaGoldCorp @AthenaGoldCorporation @AthenaGoldCorporation @AthenaGoldCorp CSE: ATHA | OTCQB: AHN