What Athena Gold does

Athena Gold Corporation is a publicly traded junior mineral exploration company focused on high-grade gold and precious metal discovery in North America's most prolific mining districts. The company operates a portfolio of four mineral exploration assets: the flagship Laird Lake project along the Balmer-Confederation Assemblage contact in Ontario's Red Lake Gold District (expanded to 7,457 hectares, with surface samples up to 373 g/t Au and a 179-metre mineralized intercept in the first drill hole), the 4,900-hectare Forester Gold Project in northwestern Ontario near Orla Mining's Musselwhite Mine, the 2,500+ hectare Excelsior Springs gold-silver project in Nevada's Walker Lane Trend (currently under an 80% earn-in option to Mammoth Minerals Limited), and the 578-hectare Oneman Lake Au-Zn-VMS project in Ontario. Headquartered in White Rock, British Columbia, the company redomiciled to Canada in April 2025 and trades on the Canadian Securities Exchange (CSE: ATHA) and the OTCQB market (AHNRF).

The company's exploration methodology combines airborne SkyTEM electromagnetic and magnetic surveys, 100m x 100m till geochemistry grids, geological mapping, and systematic multi-phase data integration to de-risk drill targeting. A maiden 5,000-metre diamond drill program was mobilized at Laird Lake in April 2026 following receipt of drilling permit PR 25 00201, an exploration agreement with the Wabauskang First Nation, and a 9.9-for-1 share consolidation that reduced the share count from approximately 354.6 million to 35.8 million. The company is led by President and CEO Koby Kushner and VP Exploration Benjamin Kuzmich (the NI 43-101 Qualified Person), with a 51–100-person team typical of junior explorers.

Athena Gold is pre-revenue and does not currently generate operating income. The business model is capital-raising-led: the company funds exploration through flow-through financings, non-brokered private placements (notably a C$3.5M raise in December 2025 that fully funded the Laird Lake drill program), and non-dilutive grants such as the C$200,000 Ontario Junior Exploration Program award. The Mammoth Minerals option at Excelsior Springs (AUD $200,000 cash, AUD $3.2 million in shares, USD $5 million in committed exploration spending) provides a free-carried interest to Definitive Feasibility Study, while the Last Bounty Gold Corp. acquisition added the Forester project for 42 million shares (~12% of the company). Value creation is therefore entirely dependent on successful exploration outcomes, future joint-venture or development partnerships, or acquisition by a producing miner.

Name

Athena Gold

Legal name

Athena Gold Corporation

Website

https://athenagoldcorp.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

51–100 employees

Short description

Athena Gold Corporation is a publicly traded junior mineral exploration company pursuing high-grade gold discoveries across four North American projects, including the flagship Laird Lake project in Ontario's Red Lake Gold District and the Excelsior Springs project in Nevada.

Ownership category

akta.pro rank

Product category

Mineral Exploration and Mining

NAICS

Gold Ore and Silver Ore Mining (212220)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Precious Metals Exploration & Project Development (IMAKAEAI)

akta.pro secondary industry

Gold Mining (IMAKAEAA)

Keywords

• Junior gold exploration
• Mineral property assets
• Gold mining projects
• Precious metals exploration
• North American mining

Headquarters

HQ city

Vacaville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Mineral Exploration (Pre-Revenue): Athena Gold is a pre-revenue junior exploration company engaged in the business of mineral exploration and acquisition of mineral property assets. The company does not currently generate revenue from operations. Future value creation depends on successful exploration leading to resource discoveries that could attract acquisition interest or enable development partnerships.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Athena Gold Corporation is a junior mineral exploration company that acquires, explores, and advances gold and precious metal mineral property assets in North America. The company holds a portfolio of four exploration-stage projects — Laird Lake and Forester in Ontario, Excelsior Springs in Nevada, and Oneman Lake in Ontario — using modern exploration techniques including SkyTEM geophysical surveys, till geochemistry, and geological mapping to identify drill targets. The company is pre-revenue and monetizes its exploration assets through capital raises, option/joint-venture partnerships, and potential future resource discoveries or acquisitions.

Product overview

Athena Gold Corporation is a junior mineral exploration company focused on gold and precious metal discovery in North America's most prolific mining districts. The company operates a portfolio of four mineral exploration projects: the flagship Laird Lake project in Ontario's Red Lake Gold District, the Forester Gold Project in northwestern Ontario, the Excelsior Springs gold-silver project in Nevada's Walker Lane Trend (under option to Mammoth Minerals), and the Oneman Lake Au-Zn project in Ontario. These projects represent early-stage exploration assets rather than developed products or services.

Differentiator

Problem solved

Functional benefit

Products and services

• Laird Lake Project Flagship gold exploration project located in Ontario's Red Lake Gold District, covering over 7,000 hectares along more than 10 km of the Balmer-Confederation Assemblage contact, with surface sampling returning up to 373 g/t Au. The project is road-accessible and within 15 km of an operational mill.
• Forester Gold Project Gold exploration project spanning 4,900 hectares in northwestern Ontario, located less than 30 km southeast of Orla Mining's Musselwhite Gold Mine, prospective for high-grade narrow-vein and bulk-tonnage style gold mineralization.
• Excelsior Springs Project Gold-silver exploration project spanning over 2,500 hectares in Nevada's Walker Lane Trend, covering historic mines including Buster, Blue Dick, Ridge, and Rhino trends, with drill results including 5.35 g/t Au over 33.5 m and silver assays up to 17,582 g/t Ag. Currently under earn-in option to Mammoth Minerals Limited.
• Oneman Lake Project Au-Zn VMS exploration project covering 578 hectares located approximately 60 km north of Kenora, Ontario, featuring a sulfide-bearing breccia zone hosted within amphibolites with gold, silver, zinc, and copper mineralization.

Quantifiable outcome

• Up to 17,582 g/t Ag assay results from Excelsior Springs Blue Dick Mine Prospect
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Wabauskang First NationcoreStrategic or Co-development Partner · 20 February 2026Athena entered into an exploration agreement dated February 20, 2026, with Wabauskang First Nation to promote cooperative relations concerning the Laird Lake project. The agreement includes issuance of 100,000 common shares at CDN $0.065 per share, promoting respectful engagement with Indigenous communities in the project area.
• Mammoth Minerals Limited (ASX: M79)coreStrategic or Co-development Partner · 19 August 2025Mammoth Minerals Limited (formerly Firetail Resources Limited) entered into a property option agreement dated May 28, 2025, to earn an 80% interest in Athena's Excelsior Springs project in Nevada over five years. Mammoth paid AUD $200,000 cash and issued 32,000,000 shares (worth AUD $3.2M), with commitment to spend USD $5,000,000 in exploration. Athena retains 20% free-carried interest to Definitive Feasibility Study, 1% NSR royalty, and remains a significant shareholder of Mammoth.
• Last Bounty Gold Corp.coreOthers · 2 June 2025Athena acquired 100% of Last Bounty Gold Corp., a private British Columbia company, to acquire the Forester Gold Project. Deal involved issuing 42,000,000 Athena shares at CAD $0.08 per share, representing approximately 12% of Athena on a non-diluted basis. The Forester project covers 4,900 hectares near Orla Mining's Musselwhite Mine.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Treasury Metals: Junior gold developer advancing the Goliath Gold Complex in northwestern Ontario. Treasury Metals is comparable to Athena as a small-cap, single-jurisdiction gold developer targeting a near-term production decision in Ontario's mining-friendly districts.
• NexGold Mining: Junior gold explorer advancing the Goliath Gold Complex in Ontario's Red Lake district. NexGold is comparable to Athena as a similarly-sized exploration-stage company targeting high-grade gold in the same prolific Red Lake mining camp.
• West Red Lake Gold Mines: Direct peer exploring and developing gold projects in Ontario's Red Lake Gold District. West Red Lake Gold operates the nearby Madsen mine, which sits ~10 km east of Athena's Laird Lake project, making it the most directly comparable competitor for land, drilling resources, and a potential M&A counterparty.
• Mayfair Gold: Canadian junior gold explorer advancing the Fenn-Gib project in Ontario's Timmins region. Mayfair is comparable to Athena as a similarly-sized, single-commodity gold developer pursuing high-grade discoveries in tier-1 Canadian mining districts.
• Mammoth Minerals Limited: ASX-listed junior explorer (ASX: M79) currently earning 80% of Athena's Excelsior Springs project in Nevada's Walker Lane Trend. Mammoth is both partner and direct peer in gold-silver exploration and funds the work programs that advance Athena's Nevada asset.

Broad incumbents

• Kinross Gold: Senior gold producer whose Great Bear project sits ~34 km southeast of Athena's Laird Lake project in the Red Lake district. Kinross is a major strategic landholder in the same district and a credible M&A counterparty for any meaningful discovery by Athena.
• Orla Mining: Mid-tier gold producer whose Musselwhite Gold Mine in northwestern Ontario sits less than 30 km from Athena's Forester Gold Project. Orla represents the dominant operating neighbour and likely acquisition counterparty for any Forester-area discovery.

Others

• Gold Royalty Corp. Precious metals royalty company providing non-operating exposure to gold projects. Comparable to Athena in business-model adjacency given Athena's 1% NSR royalty at Excelsior Springs, representing a parallel pathway to benefit from discovery upside without development capital.

Regional players

• Wallbridge Mining Company: Exploration and development company focused on gold projects in Ontario's Red Lake district, including the Martiniere gold project. Wallbridge is comparable to Athena as a Red Lake-focused junior explorer pursuing high-grade gold discoveries in the same geological assemblage.

Emerging players

• Rugby Resources: Junior mineral exploration company with gold-copper projects in the Americas. Rugby is comparable to Athena as a small-cap, multi-jurisdiction exploration company seeking high-grade precious and base metal discoveries in proven mining districts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AthenaGoldCorp
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/athena-gold-corporation
• Instagraminstagram.com/athenagoldcorp

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Athena Gold