ATHENA RESOURCES LIMITED — Capital/Financing Update 2017

Dec 28, 2017

29 December 2017

The Company Announcements Office Australian Stock Exchange Limited 4 Floor 20 Bridge Street SYDNEY NSW 2000

FURTHER EXTENSION OF FORMAL SALE OPTION AGREEMENT FOR BYRO PROJECT

On 6 December 2016 Athena announced that it and Brilliant Glory Industrial Corporation Limited together with Brilliant Glory Investments Pty Ltd had signed the formal Sale Option Agreement.

That agreement included in the definitions the following: “Satisfaction Date means 30 June 2017 or such other date as is agreed between the Parties”.

On 22 June 2017 that date was extended until 30 September 2017. On 21 September 2017 that date was extended to 31 December 2017. The date has now been extended to 31 March 2018.

The agreement to extend the date required Brilliant Glory to fund the amount of $40,000 per month for maintenance of the Byro tenements and to advance a loan to Athena of $20,000 per month to cover Athena’s corporate costs. That loan will be repaid out of the sale proceeds of $20,000,000. Brilliant Glory has been funding those amounts.

Yours faithfully

E W Edwards Executive Director