ATHENA RESOURCES LIMITED — Capital/Financing Update 2009

Apr 23, 2009

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63 Lindsay Street Perth WA 6000 p 61 8 9428 2900 f 61 8 9428 2910 e ahn@athenaresources.com.au www athenaresources.com.au ABN : 69 113 758 900

24 April 2009

Dear Option Holder

Athena Resources Limited – Rights Issue

The Directors of Athena Resources Limited (Company) are pleased to advise you that on 24 April 2009 they announced to ASX that the Company will undertake a non-renounceable entitlement issue to eligible shareholders of the Company on the basis of one (1) share for every two (2) shares held in the Company as at 5pm WST on 6 May 2009 (Record date). The issue price for these shares is 3 cents per share.

If you wish to participate in the offer to the extent of the potential represented by your existing options in Athena Resources Limited, you may do so to the extent of your shareholding in Athena Resources Limited as at the Record Date. If you are not already a shareholder and/or wish to participate in the offer to the extent of your option holding, you must exercise your options on or before the Record Date of 5.00pm WST on 6 May 2009.

For further information, contact the Company Secretary, Ed Edwards on (08) 9428 2900.

E W Edwards EXECUTIVE CHAIRMAN