Athena Gold Appoints Fred Leigh to Board of Directors

Athena Gold Corporation has appointed Fred Leigh to its Board of Directors, effective immediately. Leigh, a veteran in the resource sector with nearly four decades of experience, brings substantial knowledge and expertise to the company’s strategic direction. His appointment comes after the departure of Brian Power, who will continue to support Athena in a consulting capacity.

Leigh’s background is impressive, having served as a founder, director, and investor in numerous public companies. He is also the founder and President of VC7K Capital Inc., a privately held company that has invested in early-stage opportunities across the resource sector for over 35 years. Leigh's involvement in significant mining ventures includes his role as a founding investor in the group that structured the acquisition of the Golden Bear Mine by Wheaton River Minerals, which later evolved into the metal streaming giant, Wheaton Precious Metals.

Athena's Laird Lake project, situated in the Red Lake Gold District of Ontario, is one of the company’s key assets. The recent high-grade, near-surface discovery at this project has attracted attention due to its potential for significant gold deposits. Leigh’s appointment is seen as a strategic move to bolster Athena's efforts to advance the Laird Lake project and potentially uncover the next major gold discovery in the Red Lake region.

Koby Kushner, President and CEO of Athena, expressed his enthusiasm for Leigh’s appointment. "Fred has been an early backer of several of the most successful mining ventures in Canada over the past four decades. Notable examples include his role as a founding investor in the group that structured the acquisition of the Golden Bear Mine by Wheaton River Minerals, which later evolved into what is now the metal streaming giant Wheaton Precious Metals. He was an early investor in several other major mining transactions, including Hathor Exploration, which was acquired by Rio Tinto for approximately C$650 million in 2011, and Blue Pearl Mining, which acquired Thompson Creek Metals for US$575 million in 2006. He was also one of the early directors of Great Bear Resources prior to its discovery in Red Lake, which Kinross acquired for C$1.8 billion in 2022. I look forward to working closely with Fred as we advance Laird Lake and look to prove out the next major gold discovery in Red Lake."

Leigh echoed Kushner’s sentiments, stating, "There is significant value to be unlocked across Athena's portfolio. I have spent my career backing early-stage stories in proven camps, led by teams with the drive and motivation to make a new discovery, and Red Lake is as good as it gets. I am excited to join the Board and to be part of what I believe will become another Canadian mining success story."

In other developments, Athena has announced the granting of an aggregate of 2,000,000 stock options at an exercise price of $0.34 per common share to directors, officers, and consultants of the company, pursuant to the terms of the Company's 2026 Stock Option Plan. The options vest immediately, expire ten years from the date of grant, and are subject to approval by the Canadian Securities Exchange. The options, and any common shares issued upon exercise, are subject to a statutory hold period of four months from the date of grant in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.

Athena Gold Corporation continues to explore and develop its portfolio of projects across North America, including the Laird Lake project in the Red Lake Gold District and the Forester project in northwestern Ontario. The company's Excelsior Springs project in Nevada is also under an earn-in option with Mammoth Minerals Limited.