Athena Gold’s high-grade gold exploration assets in two of the world’s safest and most prolific mining jurisdictions, backed by a highly technical and entrepreneurial leadership team, make it a compelling investment opportunity worth examining.
Athena Gold (CSE:ATHA,OTCQB:AHNR) is a dynamic gold exploration company focused on advancing its newly acquired asset in Ontario’s Red Lake Gold Camp in Canada, and its gold discovery project in Nevada’s Excelsior Springs in the US. These projects are located in two of the world’s safest, tier-one mining jurisdictions, where major mining companies are increasingly refocusing their exploration efforts due to geopolitical stability and established mining infrastructure.
Ontario’s Red Lake and Nevada’s Walker Lane Trend are globally renowned for their high-grade gold deposits. By operating in these regions, Athena Gold aligns itself with the recent trend toward safer, more predictable mining jurisdictions.
The company is guided by a young, entrepreneurial and highly technical leadership team, uniquely equipped to unlock the potential of its assets through cost-effective and innovative exploration strategies. Athena Gold is committed to discovery-driven growth, prioritizing projects with world-class potential.
The Laird Lake project, encompassing 4,158 hectares, is located in Ontario’s Red Lake Gold District, an iconic mining camp producing over 30 million ounces of gold. This project spans over 10 kilometers of the Balmer-Confederation Assemblage contact, a key geological structure historically hosting major gold deposits, including the renowned Great Bear mine, now owned by Kinross (TSX:K,NYSE:KGC), and Madsen mine, owned by West Red Lake Gold (TSXV:WRLG:,OTCQB:WRLGF).
Recent sampling has confirmed the project’s exceptional potential, including a bonanza-grade surface grab sample returning 373 grams per ton (g/t) gold — the highest recorded at the site. Mineralization has been identified over a 2.2-kilometer strike length, with further extensions open to the east and west. Strategic proximity to major operations, such as West Red Lake Gold Mines' flagship Madsen mine and Kinross Gold’s Great Bear project, further enhances its appeal.
Map of Laird Lake project, showing selected assays from the October 2024 sampling program.
Athena Gold is executing a systematic exploration strategy, with plans for a property-wide geochemistry survey in 2025. These efforts aim to identify drill targets for a winter-spring drilling campaign, focusing on high-grade zones and expanding the project’s resource potential.
The Excelsior Springs project is located in Nevada’s Walker Lane Trend, a prolific mining district with more than 40 million ounces of historical gold output. Major mining companies already operating in the Walker Lane trend include Kinross Gold, AngloGold Ashanti (NYSE:AU) and Centerra Gold (TSX:CG). Located on patented and unpatented ground with year-round access, the project boasts a rich history of high-grade gold mining, including the Buster Mine, which produced 19,200 ounces at grades exceeding 40 g/t gold in the late 19th century.
Athena Gold has identified significant potential for Excelsior Springs, with near-surface gold oxide mineralization. A standout discovery in the Western Slope zone yielded an impressive intercept of 5.35 g/t gold over 33.5 meters, supported by broader mineralized zones such as 1.02 g/t gold over 52 meters. These results suggest the potential for an open-pit mining operation, making the project an attractive prospect for resource expansion.
The project is geologically analogous to AngloGold’s Silicon project, which has demonstrated similar mineralization and structural settings. Excelsior Springs also benefits from a multi-phase exploration plan. A recent property-wide structural mapping program is refining the understanding of geological controls, with trenching and targeted geochemical sampling already underway.
Upcoming exploration phases will include oriented core drilling to delineate high-grade zones further and test for additional deposits.
David Goodman transitioned from a successful legal career to the investment management industry, becoming a partner, vice-president and portfolio manager at the firm behind Dynamic Funds. As president and CEO of Dynamic Funds and later DundeeWealth, he led the firm to significant growth, increasing assets under management from $5 billion to approximately $50 billion. Under his leadership, the firm was recognized multiple times as Fund Company of the Year at the Canadian Investment Awards. Goodman has also served on the boards of DundeeWealth, Repadre Capital, Dundee and SickKids Foundation.
Koby Kushner is a licensed professional engineer in Ontario and a CFA charter holder, with a background in mining engineering and equity research. He has worked at several mines in Ontario and Manitoba, including Hemlo (Barrick Gold) and Detour, gaining experience across all stages of project development. As an equity research analyst at Red Cloud Securities, a mining-focused investment bank, he covered more than 100 companies across various development stages and commodities, with a focus on precious and energy metals.
John Power has been with Athena Gold since its inception, serving in various capacities, including president and CEO. He managed the Langtry silver project, developing an NI 43-101 compliant resource of more than 60 million ounces of silver. Power was the president of Redwood Microcap Fund, where he increased shareholder value sixfold. He has also served as a director and/or officer of Magellan Gold and co-managing member of Silver Saddle Resources, a private entity owning mining claims in Nevada.
Ty Minnick is a certified public accountant with more than 25 years of experience across various industries. Since 2011, he has worked with Augusta Gold (formerly Bullfrog Gold), serving as chief financial officer until October 2020, and continuing as a consultant thereafter. He has also been associated with Grand Mesa CPAs and served as director of finance and administration for the Grand Junction Regional Airport Authority.
Ben Kuzmich is a geologist with a strong track record of significant discoveries, driving the technical aspects of Athena’s projects. His expertise includes porphyry and epithermal systems, with a focus on cost-efficient exploration.
High-grade gold exploration in Ontario and Nevada
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) ("Newmont") today announced that Natascha Viljoen, Executive Vice President and Chief Operating Officer, has been promoted to President and Chief Operating Officer of the company. Ms. Viljoen will continue to report directly to Chief Executive Officer Tom Palmer.
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Natascha Viljoen, President & COO of Newmont Corporation.
"This promotion is a recognition of Natascha's strong leadership as Chief Operating Officer since 2023, her commitment to safe operational delivery and deep connections with people both inside and outside the company," said Palmer. "Natascha's energy, passion and resolve will continue to be critical assets as we work to improve costs and productivity to deliver value to shareholders."
Palmer added, "This new leadership role for Natascha, which provides a balance of both strategic and operational focus, is right for the company at this time. Now that we have completed the rationalization of our portfolio following the Newcrest acquisition, we want to ensure that our leadership team is in the best position to support our people throughout the company to safely deliver on our commitments now and in the future. Natascha's new role is an important step in making that happen."
Prior to joining Newmont, Natascha served as the Chief Executive Officer of Anglo American Platinum, the world's largest primary producer of platinum. Natascha is a metallurgical engineer and holds a Bachelor of Engineering from North West University in South Africa and an Executive MBA from the University of Cape Town, South Africa.
"I am honored and excited to have this opportunity to serve as President and Chief Operating Officer of Newmont, a company whose values I share and whose people I respect," said Viljoen. "I am looking forward to leading our efforts in this new capacity, and to ensure that all of our stakeholders – our teams, host communities, partners, customers and shareholders – benefit from our world-class portfolio."
About Newmont
Newmont is the world's leading gold company and a producer of copper, zinc, lead, and silver. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the Company has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com .
Cautionary Statement Regarding Forward-Looking Statements
This news release may contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements in this news release include, without limitation, expectation regarding cost and productivity improvements and other statements regarding future events or results. For a discussion of risks and other factors that might impact future looking statements , see the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission on February 21, 2025, under the heading Risk Factors.
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Media Contact – Global
Shannon Brushe
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Investor Contact – Global
Neil Backhouse
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North Bay Resources, Inc. (the " Company " or " North Bay ") (OTC: NBRI) is pleased to announce delivery of 344 lbs. of gold concentrate to the Company's refinery partner Just Refiners, Reno, NV. Assay splits have been sent to ALS Geochemistry Reno, Nevada. Ore from the Company's Fran Gold Project was processed at the Company's Bishop Gold Mill. The concentrate represents approximately 15 tons of gross ore processed. Recent repairs to the Company's RakerClassifier and replacement of balls in the ball mill have been implemented to produce a finer grind targeting minus 150 mesh. This grind has been determined to be optimal for recovery. The concentrate is from the gravity only circuit with the flotation circuit currently under optimization and testing ( See Pic 1) . The Company recently received settlement on its first concentrate shipment ( see Press Release dated April 7, 2025 ),
Pic 1. Bishop Gold Mill Flotation Cells.
Flotation Circuit
The Company is testing and optimizing the flotation circuit at the Bishop Gold Mill. The testing of the Clarkson-Feeders for titration of the 5 reagents utilized in the flotation process has been completed.
The staged implementation of the final order of reagents, conditioning and residence time is being determined based on prior metallurgy work and existing equipment. The flotation chemistry utilizes a conditioner, gold promoter, sulphide promoter, activator, and frother. Determination is now underway to identify whether performance will be improved through staged addition of conditioner, gold and sulphides promoters followed by activator and frother or whether reagents will be combined in the single existing conditioning tank. Prior design utilized the ball mill and classifier as entry points for the initial 3 reagents, followed by activator and frother in the conditioning tank. The Company has added a centrifuge, for gravity primary design. This eliminates the possibility of treating the ore in the crushing circuit and reagents now must be added post-gravity recovery in the conditioning tank. A determination is being made to mix all reagents in a single step or adding a second conditioning tank for two phase reagent mixing either collectors and then activator/frother or two dosage mixing of all reagents. A final determination is expected shortly regarding the use of single or double conditioning tanks, with full-scale implementation of the flotation circuit to follow. All mechanical components are working and post-processing equipment including leaf-press and propane fired concentrate drying circuit are operational as well. Previous metallurgy work has determined a 97% recovery may be achieved with a combined gravity and flotation circuit with Fran Gold ore (see Press Release dated December 16, 2024 ).
Fran Gold Project
Data re-compilation of the 104 drill holes from Fran Gold continues. This now includes implementation of Leapfrog 3D modelling and resource estimate software, inclusive of pit-shell design for purpose of producing a resource estimate. The recent discovery of a bulk tonnage gold deposit at Fran ( see Press Release dated April 7, 2025 ) including 149m (488 ft.) of 0.9 grams per tonne has resulted in high priority focus on the re-evaluation of the Fran deposit.
Past exploration and development at Fran Gold, including over 18,000m (55,000ft.) of diamond drilling, has shown large intercepts of mixed vein and disseminated gold. The deposit area has been identified to be in excess of 1000m x 100m x 300m within a known strike length of 1700m. The Fran Gold Project is next to Centerra Gold's Mt. Milligan Project, with Reserves of 264Mt grading 0.3 gram per tonne gold and 0.2% copper and proximate to Artemis Gold's Blackwater Mine, with Proven and Probable Reserves of 334Mt grading 0.8 grams per tonne gold. Both Mt. Milligan and the Blackwater Mine are two of the largest new copper/gold and gold mines respectively, in North America.
On behalf of the Board of Directors of
North Bay ResourceS INC.
Jared Lazerson
CEO
X: @NorthBayRes
YouTube: North Bay Resources - YouTube
LinkedIn: North Bay Resources Inc | LinkedIn
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
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Highlights
The grant will cover 50% of the direct drilling costs up to a maximum refund of $57,500. An initial two (2) diamond drillholes are planned to test the Ganymede IP geophysical anomaly previously identified but left undrilled by Meteoric Resources in 20221. Notably Ganymede has an IP signature equivalent to the Butchers Creek gold deposit. Drilling is planned to commence this 2025 field season with assay results scheduled approximately 6 weeks thereafter.
WIN Metals Managing Director and CEO, Mr Steve Norregaard, commented:
“We welcome the financial support of the Western Australian government via the 31st round of EIS grant funding.
This target represents a compelling opportunity to enhance the already significant Butchers Creek gold project. Without government support this target may well have remained untested.
Success with this would potentially be a step change for underpinning the economics of the project.
This support will fast track testing and we look forward to seeing what may be at Ganymede.”
Background
The Ganymede gold target is located to the south-east of the Butchers Creek open pit and Mt Bradley gold mines illustrated in Figure 1. Meteoric’s 2022 IP geophysical survey identified Ganymede to have a similar geophysical signature to the known Butchers Creek gold deposit. It is believed the Ganymede target is a potential fold repeat of the Butchers Creek gold deposit that has yet to be drill tested as is illustrated in Figure 2 below.
Figure 1: Ganymede location with reference to Butchers Creek and Mt Bradley gold mines
Figure 2: Schematic geology cross section and associated IP anomaly of the Butchers Creek gold deposit and Ganymede gold target
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