Athena Gold Corporation · CSE:ATHA
Athena Gold — Investor Presentation (April 2026)
21 slides from Athena Gold's investor presentation, April 2026
Slide 1: Exploring in Prolific Gold Belts
Exploring in CSE: ATHA | OTCQB: AHNRF Prolific Gold Belts April 2026
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: Discovery-Driven Exploration in Ontario & Nevada
DISCOVERY-DRIVEN EXPLORATION IN ONTARIO & NEVADA Laird Lake (Red Lake District) • Target: High-grade gold discovery NEVADA along trend of Kinross Gold (Great NEVADA Bear), West Red Lake (Madsen Mine) Forester • Gold Showings: Untested Laird ONTARIO anomalies with grabs returning up to Excelsior 373
Slide 5: Ontario Portfolio: Laird Lake (Au)
ONTARIO PORTFOLIO Laird Lake (Au) CSE: ATHA | OTCQB: AHNRF www.athenagoldcorp.com |6 |6 www.athenagoldcorp.com
Slide 6: Red Lake Gold Camp
RED LAKE GOLD CAMP Red Lake District • >30M oz Au produced from amongst the highest-grade mines globally Red Lake Operations Mineral Resources: 7.2M oz Au (47M • Long mining history dating back to tonnes @ 4.79 g/t3) Ore Reserves: 2.0M oz Au (14M tonnes 1920s, with local workforce and @ 4.2 g/t3) in
Slide 7: Laird Lake
LAIRD LAKE Balmer-Confederation Contact Laird Lake Fault Madsen Project (TSXV:WRLG) Dextral movement • 2.5M oz produced historically • Indicated: 1.65M oz Au (6.9M tonnes @ 7.4 g/t1) • Inferred: 0.37M oz Au (1.8M tonnes @ 6.3 g/t1) Madsen Mine Starratt-Olsen Mine Laird Laird Lake Project (CSE:ATHA)
Slide 8: Laird Lake
LAIRD LAKE RECENT WORK: • Recon prospecting confirmed >5 km trend of mineralization coincident with the Balmer- Confederation contact, with samples up to 373 373 g/t Au* g/t Au *see December 4, 2024, press release • Property-wide, ~2,000 sample, till geochem survey in 2025 defined new, untested targ
Slide 9: Laird Lake Till Sampling Results
LAIRD LAKE TILL SAMPLING RESULTS Multiple 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 • Several zones represent opportunities to make near-sur
Slide 10: Laird Lake Geophysical Interpretation
LAIRD LAKE GEOPHYSICAL INTERPRETATION New geophysical targets Geophysical Interpretation: • Analysis of historical geophysics has highlighted six distinct zones of electromagnetic anomalism (G1 to G6) • Refined drill targets planned for maiden drill program CSE: ATHA | OTCQB: AHNRF www.athenagoldcor
Slide 11: Laird Lake: Maiden drill program underway
LAIRD LAKE Maiden drill program underway FULLY-FINANCED DRILL PROGRAM UNDERWAY • Initial program to comprise ten diamond drill holes, ~5,000 m total ($1.5-$1.8M) • Targets to be tested include: BIFs, new Geophysical/Geochemical anomalies, Balmer- Confederation contact CSE: ATHA | OTCQB: AHNRF www.at
Slide 12: Ontario Portfolio: Forester (Au)
ONTARIO PORTFOLIO Forester (Au) CSE: ATHA | OTCQB: AHNRF www.athenagoldcorp.com | 13
Slide 13: 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 Musselwhite Mine Mineral Reserves: 1.5M oz Au (7.4M production) tonnes @ 6.4 g/t4) Mineral Resources: 0.51M oz Au (3.8M tonnes @ 4.2 g/t4) Pri
Slide 14: 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 15: Nevada Portfolio: Excelsior Springs (Au-Ag)
NEVADA PORTFOLIO Excelsior Springs (Au-Ag) CSE: ATHA | OTCQB: AHNRF www.athenagoldcorp.com www.athenagoldcorp.com| 15 | 16
Slide 16: Nevada's Walker Lane Trend
NEVADA’S WALKER LANE TREND Top-Rated Mining Jurisdiction • Nevada is ranked number 1** as the top mining jurisdiction globally in investment Round Mountain Mine COMSTOCK • 8>143k oz AuEq annually attractiveness (Fraser Institute, 2023) • 3.65% of global Au production and Borealis • New 2024 IPO 77%*
Slide 17: Excelsior Springs
EXCELSIOR SPRINGS Optioned to Mammoth Minerals (ASX: M97) • Mammoth Minerals can 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 • Mammoth to perform USD$5,000,000 in exploration work over five ye
Slide 18: Capital Structure
CAPITAL STRUCTURE (as of April 2026) Carlton Precious Shares Issued 35.8M 15% Warrants 3.9M Libra Energy Materials 12% Stock Options 0.8M Other 55% Fully Diluted 40.5M Management, Directors, Insiders 52 Week High/Low $0.89/$0.21 18% CSE: ATHA | OTCQB: AHNRF www.athenagoldcorp.com | 18
Slide 19: 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 20: 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
Slide 21: 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)