ATHENA RESOURCES LIMITED — Capital/Financing Update 2011

Nov 17, 2011

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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

18 November 2011

Australian Stock Exchange Limited Level 4, 20 Bridge Street Sydney NSW 2000

PART PLACEMENT OF RIGHTS ISSUE SHORTFALL Notice under Section 708A

Athena Resources Ltd (ASX:AHN) (“Company”) has placed part of the shortfall of the recent nonrenounceable rights issue as announced on 13 September 2011 being a total of 1,111,500 fully paid ordinary shares (“Shares”) at 9 cents per share to raise the amount of $100,035.

The shares have been allotted and will be issued into the issuer sponsored sub register on 21 November 2011. The Company will allocate the remainder of shortfall shares in the manner described in Section 1.5 of the Offer Document.

The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act.

These Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act, in reliance on Section 708A(5) of the Corporations Act.

The Company, as at the date of this notice complied with:

• a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• b) Section 674 of the Corporations Act.

There is no excluded information as at the date of this notice, for the purposes of Section 708A (7) and (8) of the Corporations Act.

E W Edwards

Managing Director