Athena Gold Corp Stock Price, News & Analysis

Athena Gold (OTCQB:AHNRF) closed the third and final tranche of a non-brokered private placement, raising a total of CDN $3,500,028.99 through the sale of flow-through and non-flow-through units.

The third tranche raised CDN $502,002.98 via 7,142,900 flow-through units at CDN $0.07 and 33,333 non-flow-through units at CDN $0.06. FT and NFT warrants are exercisable at CDN $0.09 for 24 months and include an acceleration clause tied to a CDN $0.14 10-day VWAP trigger. FT proceeds will be spent on Laird Lake and Oneman Lake exploration and renounced as Canadian Exploration Expenses with an effective date no later than December 31, 2025.

Athena Gold (OTCQB:AHNRF) closed the second tranche of its private placement on December 15, 2025, raising CDN $270,499.98 from 150,000 flow-through units at CDN $0.07 and 4,333,333 non-flow-through units at CDN $0.06.

The company increased the total Offering to CDN $4.2M after CSE approval, expanding FT units to CDN $2.2M and allocating CDN $1.1M to CMETC-qualified FT shares; NFT units total CDN $900,000. Proceeds will fund exploration at Laird Lake and Oneman Lake, with FT expenditures to be renounced by December 31, 2025.

Athena Gold (OTCQB:AHNRF) closed the first tranche of a non-brokered private placement on December 9, 2025, raising CDN $2,727,526.03 in cash. The tranche issued 19,025,729 FT Units, 14,507,144 CMETC FT Shares and 6,337,082 NFT Units. The company expects the NFT component to be oversubscribed by ~CDN $400,000 (up to CDN $900,000), allowing issuance of up to 15,000,000 NFT Units. FT and CMETC FT Shares qualify as Canadian flow-through shares and CMETC FT Shares qualify for the Critical Mineral Exploration Tax Credit. Proceeds will fund exploration at Laird Lake and Oneman Lake, plus G&A and working capital. Finder's fees totalled CDN $133,779.90 plus 1,903,970 finder’s warrants. Closing of a second tranche is expected within days.

Athena Gold (OTCQB:AHNRF) provided an exploration update for the Excelsior Springs Project, Nevada, following Mammoth Minerals' recent field results under its option to earn an 80% interest. Maiden diamond drilling at the Buster Trend returned notable intercepts including 14.4m @ 4.33 g/t Au and 25.5m @ 1.05 g/t Au, with mineralization open along strike and to depth and confirmation to ~250m. An initial Mineral Resource Estimate and Exploration Target work has commenced. A 40m-line-spacing magnetic survey defined a 5.5 km x 4.2 km interpreted intrusive/caldara and extended the prospective strike to 7.3 km. Athena remains a >5% shareholder of Mammoth.

Athena (OTCQB:AHNRF) amended its non-brokered private placement on November 24, 2025, upsizing proceeds from CDN $2,000,000 to CDN $3,100,000 and changing terms.

The Offering now includes CDN $1.5M via up to 21,428,571 flow-through units at CDN $0.07, CDN $1.1M via up to 15,714,286 CMETC flow-through shares at CDN $0.07, and CDN $0.5M via up to 8,333,333 non-flow-through units at CDN $0.06.

Warrants are exercisable at CDN $0.09 for 24 months with an acceleration clause. Flow-through proceeds will be renounced no later than December 31, 2025. Closing is expected in tranches beginning early December 2025, subject to regulatory approvals. The company contemplates a share consolidation before a Q1 2026 drilling campaign.

Athena Gold (CSE:ATHA / OTCQB:AHNRF) announced a non-brokered private placement to raise up to CDN $2,000,000 through: CDN $1.5M via up to 21,428,571 flow-through shares at CDN $0.07 and CDN $0.5M via up to 8,333,333 non-flow-through units at CDN $0.06 (each NFT unit includes a warrant exercisable at CDN $0.09 for 24 months).

Flow-through proceeds will be renounced as eligible Canadian Exploration Expenses no later than Dec 31, 2025 for work at the Laird Lake and Oneman Lake projects. Closing is expected in tranches with an initial close by late November 2025; issued securities carry a four-month-and-one-day hold period. The company may pay finders' fees and contemplates a post-offering share consolidation ahead of a planned Q1 2026 drilling campaign.

Athena Gold (OTCQB:AHNRF) reported final results from its 2025 prospecting program at the Laird Lake project in Ontario's Red Lake district. A new surface Rigby showing returned up to 20.8 g/t Au, traced for >40m of strike and remaining open; 12 samples were taken at Rigby with 8 samples >1 g/t Au and 5 samples >10 g/t Au. Additional anomalous results came from Nemo and Hugo. Athena has submitted drill permits for a planned ~5,000 m maiden winter drill program targeted for Q1 2026 to test SkyTEM-derived conductive targets G1–G6. Historical context notes past high-grade values to 373 g/t Au reported in 2024. QA/QC and lab methods are detailed and a Qualified Person has approved the technical data.

Athena Gold (OTCQB:AHNRF) reports that Mammoth Minerals increased landholdings at the Excelsior Springs Project by 340% to 83.6 km2, with new ground staked that falls inside a 5 km AOI and will be incorporated into the JV upon Mammoth's earn-in.

Mammoth holds an option to earn 80% over five years, leaving Athena a 20% carried interest to DFS plus a 1% NSR on the newly included areas. Multiple historical occurrences (gold, tungsten, antimony, copper, silver, iron) and extensive LiDAR-mapped disturbances were noted; high-resolution magnetics were completed and results are pending.

Athena Gold (OTCQB:AHNRF) reported exploration updates from its 100%‑owned Excelsior Springs project in Nevada, citing sampling results released by Mammoth Minerals (November 7, 2025) that extend the Blue Dick Trend to ~2.9 km strike. Reported high‑grade rock chip assays include 5,980 g/t Ag, 10.25 g/t Au, 8.07% Cu and >20% Pb among multiple samples. Mammoth is exercising an option to earn an 80% interest over five years, with Athena free‑carried to a Definitive Feasibility Study. Petrophysical work, high‑resolution magnetics and LiDAR are underway; diamond drilling continues on the Buster Gold Trend.