Mr. Koby Kushner reports

ATHENA GOLD ANNOUNCES SHARE CONSOLIDATION

Athena Gold Corp.'s board of directors has approved a consolidation of the company's issued and outstanding common shares on the basis of every 9.9 preconsolidation common shares for every one postconsolidation common share. Pursuant to the Business Corporations Act (British Columbia) and the company's articles the board of directors is authorized to approve certain changes to the company's capital structure, including the consolidation, as such, shareholder approval is not required.

Subject to approval by the Canadian Securities Exchange, the consolidation will have a record date of April 2, 2026. The company will not be changing its name or current trading symbol in connection with the proposed consolidation. The Cusip number for its postconsolidation common shares will be 04684R204 and the ISIN for the postconsolidation shares will be CA04684R2046.

As at the date of this news release, the company has 354,618,607 common shares issued and outstanding. Upon consolidation the company will have approximately 35,820,061 common shares issued and outstanding. The exact number of postconsolidation common shares will vary depending on the treatment of fractional shares which will occur when each shareholder's holdings in the company are consolidated. No fractional shares will be issued in connection with the consolidation and no cash will be paid in lieu of fractional postconsolidation common shares. If, as a result of the consolidation, a shareholder becomes entitled to a fractional share, such fractional share will be rounded up to the nearest whole number if 0.5 or greater and down to the nearest whole number if less than 0.5.

The company's outstanding options and warrants will also be adjusted on the same basis as the common shares with proportionate adjustments being made to exercise prices.

A letter of transmittal will be mailed to shareholders of the company advising that (i) the consolidation has taken effect; and (ii) shareholders surrender their existing share certificates (representing preconsolidation common shares) for replacement share certificates (representing postconsolidation common shares). Shareholders of the company without physical share certificates do not need to take any action with respect to the consolidation.

The board of directors believes that the proposed consolidation will strategically enhance Athena's market position by reducing the number of outstanding shares, thereby creating a more attractive share structure that is expected to broaden investor appeal and better position the company ahead of its maiden drill program at its Laird Lake project in Ontario's renowned Red Lake gold district -- ensuring greater momentum should the program successfully deliver a new discovery. The company plans to announce further news on drill mobilization in the coming days.

About Athena Gold Corp.

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 over 7,000 hectares along more than 10 kilometres of the Balmer-Confederation Assemblage contact, where recent surface sampling results returned up to 373 grams per tonne Au (gold). 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 located in Northwestern Ontario is Athena's Forester project, a 4,900-hectare land package located less than 30 km southeast of Orla Mining'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, its 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 Ltd. (formerly, Firetail Resources Ltd.). The Excelsior Springs project spans over 2,500 hectares and covers at least three historic mines. Athena also holds a 100-per-cent interest in its Oneman Lake Au-VMS (gold-volcanogenic massive sulphide) project in Ontario.

We seek Safe Harbor.