Athena Announces Amalgamation of Subsidiary to Streamline Operations

Toronto, Ontario--(Newsfile Corp. - September 11, 2026) - Athena Gold Corporation (CSE: ATHA) (OTCQB: AHNRF) ("Athena" or the "Company") is pleased to announce that it has completed a vertical amalgamation under section 273 of the Business Corporations Act (British Columbia) with its wholly-owned subsidiary, Last Bounty Gold Corp. (the "Subsidiary"), effective September 10, 2026, with the resulting amalgamated company continuing on as Athena Gold Corporation while maintaining the same articles, directors and officers as prior to the completion of the amalgamation.

The amalgamation was completed to simplify Athena's corporate structure, reduce administrative and compliance costs and strengthen operational efficiency.

No securities of the Company were issued in connection with the amalgamation, and the Company's name and share capital remain unchanged. All of the issued and outstanding shares of the Subsidiary will be cancelled, and the assets, liabilities and obligations of the Subsidiary will be assumed by the Company. The amalgamation will not have any significant effect on the business and operations of the Company, and the shares of the Company will continue to be listed on the Canadian Securities Exchange.

About Athena Gold Corporation

Athena is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct additional exploration drilling and studies on its projects across North America. Athena's Laird Lake project is situated in the Red Lake Gold District of Ontario, covering more than 7,000 hectares along more than 10 km of the Balmer-Confederation Assemblage contact, where the Company recently made a high-grade, near-surface, grassroots gold discovery. This underexplored area is road-accessible, located about 10 km west of West Red Lake Gold's Madsen mine and 34 km northwest of Kinross Gold's Great Bear project. Also in northwestern Ontario is Athena's Forester project, a 14,930-hectare land package located less than 30 km southeast of Equinox Gold's Musselwhite Gold Mine, with historical drill intercepts showing strong potential for both high-grade, narrow-vein and low-grade, bulk-tonnage gold mineralization. Meanwhile, Athena's Excelsior Springs project is located in the prolific Walker Lane Trend in Nevada, where it is currently under an earn-in option with Mammoth Minerals Limited. The Excelsior Springs project spans more than 2,500 hectares and includes at least three historic mines. For further information about Athena Gold Corporation, please visit www.athenagoldcorp.com.

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