ATHENA RESOURCES LIMITED — Capital/Financing Update 2022

Oct 12, 2022

ASX Announcement | 12 October 2022

ASX: AHN

PLACEMENT FULLY SUBSCRIBED

Issued Capital

812,967,558 shares 75,000,000 @ $0.02 options

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Athena Resources Limited

ACN 113 758 900

Further to the announcement dated 11 October 2022 in relation to a placement to raise up to $575,000 ( Placement ), Athena Resources Limited (ASX:AHN) ( Athena ) is pleased to announce that it has received confirmation from Peak Asset Management, the Lead Manager to the Placement, that applications have been received for the entire amount.

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Directors

Ed Edwards Hau Wan Wai Peter Newcomb

Company Secretary Ed Edwards

This announcement is the announcement referred to in the request for trading halt dated 11 October 2022.

It is anticipated the shares and free attaching options offered under the Placement will be issued on Monday 17 October 2022.

This announcement is authorised by the Board.

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About Athena Resources

AHN is an Australian ASX listed explorer and developer of highgrade iron ore assets in Western Australia.

Ed Edwards Executive Director 12 October 2022

The Company is focused on its Byro Project, strategically located in the Mid-West region 410km from the Port of Geraldton.

The Byro Iron Ore Project has potential to mine and supply premium grade, low impurity magnetite (>70% Iron Content) for the production of green steel, a fast-growing global market opportunity. The Byro Project also contains exciting base metal potential.

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Address

21 Millstream Rise, Hillarys Perth WA 6025

Tel : +61 448 895 664

ahn@athenaresources.com.au