Athena Gold Corporation Closes CAD $248,696 Second Tranche of Private Placement

VACAVILLE, CA / ACCESSWIRE / October 12, 2021 / Athena Gold Corporation (OTCQB:AHNR) ("Athena" or the "Company") is pleased to announce it has closed the second tranche of its non-brokered private placement of 3,108,700 units ("Units") at a price of CAD $0.08 per Unit for gross proceeds of CAD $248,696 (the "Financing"). Each Unit consists of one common share in the capital stock of the Company and one common share purchase warrant (each whole warrant a "Warrant"), with each Warrant entitling the holder thereof to purchase one common share of the Company at a price of CAD $0.15 until May 31, 2024.

Foto: Accesswire

Following the close of the first tranche on May 31, 2021, this is the second and final tranche of the Financing, which has increased the overall Financing to 9,358,700 Units for gross proceeds of CAD $748,696.

All securities issued in connection with the second tranche of the Financing are subject to a hold period of four months and one day in Canada and are subject to applicable United States hold periods. The Company has paid finder's fees on a portion of the Financing consisting of 7% cash and 7% broker warrants, each broker warrant entitling the holder thereof to purchase one common share in the capital stock of the Company at a price of CDN $0.15 until September 30, 2023.

"With our financing complete, our next milestones are to complete our listing on the Canadian Stock Exchange and finalize our upcoming exploration programs at our flagship Excelsior Springs project," said John Power, President of Athena Gold Corporation.

About Our Flagship Excelsior Springs Project

The Excelsior Springs Project (the "Project") lies within the prolific Walker Lane tectonic trend, a large region of northwest-trending, strike-slip fault zones that host a significant number of precious metal deposits having very strong structural control for mineralization. The Project contains numerous prospect pits, trenches, roads, surface sampling sites and 84 drill holes within a 300m X 3,000m wide (1,000 foot-wide and 10,000 foot lon east-west trending zone of shearing and alteration. Underground workings on the two patented claims within the Project had unverified, historical production of 597,187 grams of gold (19,200 troy ounces) of gold from 18,000 tons averaging 1.2 oz (37.3 grams of gold/ton).

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