Athena Gold Corporation Announces Amendment To Option Agreement With Nubian Resources Ltd.
Athena Gold Corporation Announces Amendment To Option Agreement With Nubian Resources Ltd.
VACAVILLE, CA – November 23, 2021 – Athena Gold Corporation (OTCQB:AHNR)(CSE: ATHA) (“Athena”
or the “Company”) announces that it has entered into an amendment agreement (the “Amendment
Agreement”) to amend the terms of an option agreement made as of December 11, 2020 (see news
release dated December 15, 2020) with Nubian Resources Ltd. (“Nubian”), a public Canadian company
with its common shares listed on the TSX Venture Exchange, and Nubian Resources (USA) Ltd., a wholly
owned subsidiary of Nubian, whereby the Company was granted the option to acquire a 100% interest
in the Excelsior Springs gold project located in Esmeralda County, Nevada, USA.
Under the terms of the Amendment Agreement, the date by which the Company must issue an
additional 45,000,000 shares in its common stock to Nubian or Nubian’s nominees to acquire an
additional 90% interest in the Property (for an aggregate 100% interest), has been extended to
December 31, 2021. A copy of the Amendment Agreement will be available on the Company’s SEDAR
profile and www.sec.gov/edgar.
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 its exploration program on the Excelsior Springs Project, located in Esmeralda County,
Nevada, approximately 45 miles southwest of Goldfield, Nevada.
For further information about Athena Gold Corporation and our Excelsior Springs Gold project, please
visit www.athenagoldcorp.com.
On Behalf of the Board of Directors
John Power
Chief Executive Officer and President
Contact:
Phone: John Power, 707-291-6198
Email: [email protected]
Cautionary Statement to U.S. Investors
The United States Securities and Exchange Commission (“SEC”) permits mining companies, in their filings
with the SEC, to disclose only those mineral deposits that a company can legally extract or
produce. Pursuant to SEC Industry Guide 7 under the United States Securities Act of 1933, as amended, a
“final” or “bankable” feasibility study is required to report reserves. Currently Athena has not delineated
“reserves” on any of its properties. Athena cannot be certain that any deposits at its properties will ever
be confirmed or converted into SEC Industry Guide 7 or any successor rule or regulation compliant
“reserves”. Investors are cautioned not to assume that any part or all of the historic Buster Mine gold
zone on the Excelsior Springs gold project will ever be confirmed or converted into reserves or that it can
be economically or legally extracted.
The SEC has adopted amendments to its disclosure rules to modernize the mineral property disclosure
requirements for issuers whose securities are registered with the SEC under the United States Securities
Exchange Act of 1934, as amended. These amendments became effective February 25, 2019, with
compliance required for the first fiscal year beginning on or after January 1, 2021, and historical property
disclosure requirements for mining registrants that were included in SEC Industry Guide 7 will be
rescinded from and after such date.
Forward Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively,
“forward-looking statements”) within the meaning of applicable Canadian and U.S. securities laws. All
statements, other than statements of historical fact, included herein including, without limitation,
statements regarding the issuance of 45,000,000 shares in Athena’s common stock to Nubian or
Nubian’s nominees, the acquisition of a 100% interest in the Excelsior Springs gold project, anticipated
business plans and timing of future activities of the Company, are forward-looking statements. Although
the Company believes that such statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking statements are typically identified by words such
as: “believes”, “will”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”,
“potential”, “scheduled”, or variations of such words and phrases and similar expressions, which, by their
nature, refer to future events or results that may, could, would, might or will occur or be taken or
achieved. In making the forward-looking statements in this press release, the Company has applied
several material assumptions, including without limitation, that there will be investor interest in future
financings, market fundamentals will result in sustained precious metals demand and prices, the receipt
of any necessary permits, licenses and regulatory approvals in connection with the future exploration
and development of the Company’s projects in a timely manner, the availability of financing on suitable
terms for the exploration and development of the Company’s projects and the Company’s ability to
comply with environmental, health and safety laws.
The Company cautions investors that any forward-looking statements by the Company are not
guarantees of future results or performance, and that actual results may differ materially from those in
forward-looking statements as a result of various factors, including, operating and technical difficulties in
connection with mineral exploration and development activities, actual results of exploration activities,
the estimation or realization of mineral reserves and mineral resources, the inability of the Company to
obtain the necessary financing required to conduct its business and affairs, as currently contemplated,
the timing and amount of estimated future production, the costs of production, capital expenditures, the
costs and timing of the development of new deposits, requirements for additional capital, future prices of
precious metals, changes in general economic conditions, changes in the financial markets and in the
demand and market price for commodities, lack of investor interest in future financings, accidents, labor
disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or
financing or in the completion of development or construction activities, risks relating to epidemics or
pandemics such as COVID–19, including the impact of COVID–19 on the Company’s business, financial
condition and results of operations, changes in laws, regulations and policies affecting mining
operations, title disputes, the inability of the Company to obtain any necessary permits, consents,
approvals or authorizations, including of the Canadian Securities Exchange, the timing and possible
outcome of any pending litigation, environmental issues and liabilities, and other factors and risks that
are discussed in the Company’s periodic filings with the SEC and disclosed in the final long form
prospectus of the Company dated August 31, 2021.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company
undertakes no obligation to update any of the forward-looking statements in this press release or
incorporated by reference herein, except as otherwise required by law.