Athena Gold Corporation announced assay results from its Fall 2022 drill program at its 100% owned Excelsior Springs Project located approximately 45 miles southwest of Goldfield in Esmeralda County, Nevada. Nine vertical and angled holes totaling 800 meters were completed on patented and unpatented claims comprising the Project. Fall 2022 Drill Program Highlights: DH 22-01: These combined intercepts yielded the thickest high-grade gold interval to date on the project and confirmed an eastern extension to mineralization encountered in drill hole DB23; The first interval intercepted 6.05 gold g/t and 17.4 silver g/t over 27.4 meters starting at 39.5 meters, including 10.2 Au g/t and 30.8 Ag g/t over 10.7 meters; a second deeper interval was intercepted starting at 77.7 meters grading 4.97 Au g/t and 14.4 Ag g/t over 13.7 meters.

DH 22-02: These intercepts confirmed a western extension to mineralization found in drill hole DB23: The first interval intercepted 4.49 Au g/t and 27.3 Ag g/t over 15.2 meters starting at 41.1 meters, including 7.29 Au g/t Au and 44.2 Ag g/t over 9.1 meters; and a second deeper interval was intercepted starting at 68.6 meters grading 1.20 Au g/t and 7.7 Ag g/t over 7.6 meters. DH 22-01 + 02: Confirmed a new near surface high-grade oxide gold discovery in the newly named Western Slope Zone. The Western Slope zone sits on the edge of an untested sizeable geophysical anomaly which requires additional interpretation.

DB-23 is now confirmed as a "discovery hole" as company has repeated it in step-outs in each direction in its Fall 2022 program. The company feels that the Excelsior Springs project is an important discovery in Nevada given its close proximity to major gold producers in the Walker Lane trend. Initial analysis is that the Western Slope could be at the "tip" of an Intrusion-Related Gold ("IRG") system that could potentially expand at depth and contain millions of ounces similar to other Tintina-Style gold deposits.