Athena Gold Corporation is an exploration stage company focused on acquiring and exploring mineral resources, primarily gold, with ongoing projects in Nevada and Canada.

# Company Summary – Athena Gold Corporation

## Business Focus
- **Primary Activity:** Acquisition and exploration of mineral resources, primarily gold. 
- **Operational Stage:** Exploration stage company (has not yet demonstrated proven or probable reserves).
- **Main Projects:**
  - **Excelsior Springs Project (Nevada):** Flagship property with multiple drill programs conducted.
  - **Langtry Silver Prospect (California):** Previously held rights, but lease terminated in 2020.
  - **Nubian/Excelsior Claims:** Purchased interests in Nevada mineral claims, including unpatented and patented claims.
  - **Ontario Projects:** Acquiring two early-stage exploration projects in Canada (Oneman Lake and Laird Lake).
  - **Crow Springs Project:** Nevada project with untested porous geophysical anomalies suggesting potential copper-gold targets.
  - **Other Canadian Claims:** Interests in Ontario, including the Oneman Lake and Laird Lake properties, with exploration and strategic potential.

## Historical Operations
- Began mining operations in 2010; involved in acquiring land rights, staking new claims, and conducting exploration activities.
- Explored various properties through drilling (RC drill programs) and geological mapping.
- Conducted geophysical surveys including hyperspectral imaging and IP/resistivity studies.
- Released a NI 43-101 Technical Report supporting future exploration plans at Excelsior Springs.

## Corporate Developments
- **Name Change:** From Athena Silver Corporation to Athena Gold Corporation in January 2021.
- **Corporate Merger & Redomestication:** Approved relocation to British Columbia, Canada, with potential tax implications for US investors.
- **Share Structure (as of April 8, 2025):** 194,803,633 shares outstanding; market value approximately $6.9 million based on last sale price of $0.04.

## Strategic Focus
- Continue evaluating existing properties for mineralization potential.
- Pursue acquisitions of additional mineral rights and exploration opportunities.
- Plan further drilling, geophysical, and geochemical surveys to define mineral resources.
- Explore international opportunities, including Canadian properties, with the aim of advancing towards commercial production in the future.

## Key Details
- **Employees:** One part-time employee (Mr. Power) working approximately 25% of his time.
- **Revenue & Income:** No reported revenue or income; company remains in exploration stage.
- **Market & Customers:** Not currently producing or selling minerals; future sales expected to be gold doré or concentrates via third-party smelters.
- **Ownership & Control:** Significant shareholders include control figures Mr. Power and Mr. Gibbs, who also have interests in related exploration companies, creating potential conflicts of interest.

> **Note:** The company has not yet generated revenues or reported profits, and its operations remain exploratory with no proven reserves or production.

Athena Gold Corporation is a Delaware-based company focused on the acquisition and exploration of gold and silver mineral resources, primarily through its Excelsior Springs Project in Nevada.

# Summary of Athena Gold Corporation

## Company Overview
- **Incorporation**: December 23, 2003
- **Location**: Delaware, USA
- **Business Focus**: Acquisition and exploration of mineral resources, specifically in the gold and silver sectors.

## Name Change
- **Former Name**: Athena Silver Corporation
- **Current Name**: Athena Gold Corporation
- **Name Change Approval**: January 2021

## Business Activities
- **Mining Operations**: Began in 2010.
- **Key Project**: 
  - **Excelsior Springs Project** located in Esmeralda County, Nevada.
  - Acquired 100% interest in Nubian Resources USA Ltd. (a wholly-owned subsidiary of Nubian Resources) to develop this project.
  - Ongoing exploration and drilling programs to assess mineralization.

## Subsidiaries and Assets
- **Notable Subsidiary**: 
  - Previously operated through a subsidiary, **Athena Minerals, Inc.**, sold in December 2020 to reduce debt.
- **Key Claims**: 
  - 191 unpatented mining claims and 2 patented mining claims covering approximately 3,900 acres.
  - Claims are located in a historically significant mining area known for gold deposits.

## Explore and Develop Strategy
- Conduct extensive exploration through drilling programs:
  - Completed several Reverse Circulation (RC) drilling programs in 2022 and 2023.
  - Drilling results have indicated potential economic gold deposits but no confirmed mineral reserves yet.

## Employee Structure
- **Employees**: 
  - Only one part-time employee (CEO and President, Mr. Power) who dedicates approximately 25% of his time to the business.
  - The company relies heavily on consulting engineers and geologists for exploration and development functions.

## Financial Situation
- **Revenue and Income**: The company has not established any significant revenues or profitable operations at this time.
- **Operating Losses**: The company has a history of operating losses, which has raised substantial doubt about its ability to continue as a going concern.
  
## Customer Base
- Does not currently have a definable customer base as it is primarily in the exploration phase. Anticipates future customers based on successful extraction and processing of minerals.

## Conclusion
Athena Gold Corporation is primarily focused on acquiring and exploring mineral resources, notably gold deposits in Nevada. The company has undergone structural changes to its operations, including the divestment of a major subsidiary to manage debts and consolidate its focus on its flagship project, the Excelsior Springs Project. With only one part-time employee and a reliance on consultants, Athena is still in early-stage exploration with a speculative outlook on future profitability and financial viability due to ongoing operating losses and the need for substantial capital investment.

ATHENA GOLD CORP

10-K / April 9, 2025

10-K / March 29, 2024

10-K / April 9, 2025

Company Summary – Athena Gold Corporation

Business Focus

Historical Operations

Corporate Developments

Strategic Focus

Key Details