Athena Gold has concluded its acquisition of the Forester Gold Project by purchasing Last Bounty Gold, a private company based in British Columbia, Canada, that possesses full interests in the project.
The Forester Gold Project, a gold mining site covering around 4,900 hectares (ha), is located near Orla Mining’s Musselwhite Gold Mine in north-western Ontario, Canada.
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Athena Gold proposed plans for this acquisition in February 2026.
Through this acquisition, Athena Gold has obtained all common shares of Last Bounty in exchange for 42 million common shares of the company, valued at C$0.08 ($0.05) per share.
This share exchange constitutes roughly 12% of Athena Gold on a non-diluted basis at the time of closing.
According to applicable securities laws and Canadian Securities Exchange policies, these shares will be subject to a statutory hold period lasting four months and one day from their issuance.
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By GlobalDataThe deal was conducted at arm’s length, with no finder’s fees involved and without creating any new insiders upon closing.
Athena Gold CEO Koby Kushner said: “We are thrilled to close the Forester acquisition, a pivotal step in refocusing Athena as a disciplined explorer of high-potential, historically overlooked ground near multimillion-ounce gold producers.
“Positioned along trend from Orla’s Musselwhite Mine, Forester’s favourable geology suggests strong potential for a near-surface, bulk-tonnage, orogenic gold system – the kind of deposit that was largely dismissed until modern economics proved otherwise, as seen at Detour and Malartic.
“Similarly, our flagship Laird Lake project in Red Lake sits along trend from West Red Lake’s Madsen Mine, where the prospective Balmer-Confederation contact has only recently been recognised on our ground. With drill permits now in hand at Laird Lake, we expect to mobilise rigs in the coming weeks to test our highest-priority targets.”
Forester lies in the same prospective geological setting as Musselwhite, with iron formations, volcanic units and sedimentary sequences.
