Author

admin

Browsing

NEWYou can now listen to Fox News articles!

The White House defended the President Donald Trump-endorsed ‘big, beautiful bill’ Tuesday after outgoing DOGE-chief Elon Musk doubled-down on his criticism of the spending bill, calling it a ‘disgusting abomination.’

Musk, who has been openly critical of the proposed reconciliation bill, said Tuesday afternoon that he ‘just can’t stand it anymore.’

‘This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination,’ Musk added in a Tuesday afternoon post on X. ‘Shame on those who voted for it: you know you did wrong. You know it.’

The bill passed the House in late-May, ahead of Memorial Day, largely along party lines. However, two Republicans did vote against the measure, citing insufficient spending cuts and a rising national debt. GOP Kentucky Sen. Rand Paul has also signaled he likely will not vote in favor of the bill in its current form, citing a debt ceiling increase that is a red-line for him. 

Trump has lashed out at Paul and others for opposing the bill, but he has taken a more measured approach to Musk’s criticism.

‘Look, the president already knows where Elon Musk stood on this bill,’ White House Press Secretary Karoline Leavitt said during a Tuesday afternoon press briefing when asked about Musk’s most recent criticism.

‘It doesn’t change the president’s opinion. This is one big, beautiful bill and he’s sticking to it,’ she said. 

Musk, who led the cost-cutting efforts at the Department of Government Efficiency (DOGE), previously criticized the bill during an interview with CBS, noting he was ‘disappointed’ in the spending bill because ‘it undermines’ all the work his DOGE team was doing.

In May, when Trump was asked about Musk’s criticism of the bill on CBS, he responded, ‘Well, our reaction’s a lot of things,’ before pivoting to talk about the votes needed to support pass the bill. 

‘Number one, we have to get a lot of votes, we can’t be cutting — we need to get a lot of support and we have a lot of support,’ he said. ‘We had to get it through the House, the House was, we had no Democrats. You know, if it was up to the Democrats, they’ll take the 65 percent increase.’

This post appeared first on FOX NEWS

NEWYou can now listen to Fox News articles!

South Korean voters swung left in the presidential race Tuesday, and conservative candidate Kim Moon-soo conceded defeat to liberal opponent Lee Jae-myung in the snap election.

Kim, candidate of the People Power Party (PPP), said at a press conference in the early hours of Wednesday morning he ‘humbly accepts (the) people’s choice.’

The decision came after record early voting turnout prompted speculation Lee would secure the presidency and flip the top seat after the impeachment of predecessor Yoon Suk Yeol, who was booted from office after he declared martial law in December.

The impeachment threw the country into political chaos after Yoon, also a member of the PPP, was removed from office two years early. 

It is unclear by what margin Lee secured the presidency, though reports had suggested for weeks that the liberal candidate was favored to win the top job. 

But Lee’s candidacy also prompted some serious concern when it came to his policy on international relations, particularly Seoul’s relationship with the U.S., China and North Korea.

Kim challenged Lee’s policies in a presidential debate last month after the liberal candidate said he would take a ‘pragmatic’ approach.

‘There’s no need to worry. The South Korea-U.S. alliance is important and should continue to grow and strengthen,’ Lee said, adding Seoul should not be ‘unilaterally bound’ to Washington, especially when it comes to the U.S.’s adversarial rivals.

‘We should not neglect ties with China or Russia,’ he added. ‘We need to manage them appropriately, and there’s no need to have an unnecessarily hostile approach like now.’

This position is a shift from the previous administration, which was hawkish on China and North Korea. 

Lee has said he wants to mitigate the ‘North Korea risk’ by easing relations with Seoul’s northern neighbor.

This post appeared first on FOX NEWS

NEWYou can now listen to Fox News articles!

President Donald Trump, first lady Melania Trump, Vice President JD Vance and second lady Usha Vance will attend the opening night of the musical ‘Les Misérables’ at the Kennedy Center next week, Fox News Digital has learned.

‘Les Misérables,’ one of the longest-running shows in Broadway and West End history, will have its opening night at the Kennedy Center on June 11. 

‘I love the songs, I love the play,’ Trump told Fox News Digital Tuesday. ‘I think it’s great — we may extend it.’  

The president has famously played songs from ‘Les Misérables’ at his rallies and events. 

‘The Kennedy Center is coming back,’ the president told Fox News Digital. ‘It was not properly taken care of and we are taking it back and we are going to turn it back into something great.’ 

Kennedy Center President Richard Grennell told Fox News Digital that ”Les Misérables’ is proving to be a huge hit.’ 

‘Opening night is going to be electric,’ Grennell told Fox News Digital.  

Kennedy Center officials told Fox News Digital that there will be a red carpet for opening night and that select members of the media will be invited to attend. Officials also said that attendees of the opening-night performance will be encouraged to walk the red carpet. 

Meanwhile, Kennedy Center officials told Fox News Digital that the first two weeks of the performance are nearly sold out, exceeding $3 million in ticket sales at the box office and exceeding the typical sales timeline.

‘We expect sales to exceed all expectations, surpassing the previously defined goals,’ a Kennedy Center spokesperson told Fox News Digital. 

Meanwhile, sources told Fox News Digital that the president is committed to revitalizing the Kennedy Center, with some suggesting it should eventually be renamed ‘the Trump–Kennedy Center.’ 

The Kennedy Center has two affiliates — the National Symphony Orchestra and the Washington National Opera. The new leadership team is currently working on business plans with its affiliates to ensure the Kennedy Center has larger endowments and ‘greater sustainability.’

This post appeared first on FOX NEWS

While lead production figures are helpful in tracking year-to-year activity, lead reserves provide a longer-term picture of which nations are best positioned to dominate the lead market in the future.

These reserves reflect the volume of economically recoverable lead available in each country — a critical factor in global supply chains, especially amid tightening environmental regulations and rising demand for energy storage.

Top lead reserves by country

According to the US Geological Survey, global lead reserves total around 96,000 metric tons. Here’s a look at the top 5 countries with the largest lead reserves, and what’s shaping their role in the market today.

1. Australia

Lead reserves: 35 million metric tons

Australia remains the undisputed global leader in lead reserves with an estimated 35 million metric tons, meaning the nation holds over one third of the world’s lead reserves.

The country also holds vast deposits of zinc and silver, with many polymetallic operations supporting lead output. The Northern Territory and Queensland are home to many of those mines, as well as lead exploration.

Despite flat year-on-year production, Australia remains one of the world’s top producers at 430,000 metric tons, thanks in part to efficient mining operations and strong regulatory frameworks. Most of Australia’s lead output is exported in concentrate form.

2. China

Lead reserves: 22 million metric tons

China boasts the world’s second-largest lead reserves at 22 million metric tons, and it is the world’s largest producer and consumer of lead. However, its lead output slightly declined in 2024 to 1.9 million metric tons amid broader mining reforms and tightening environmental restrictions aimed at curbing pollution.

According to a February 2024 report from the International Lead and Zinc Study Group, China boosted its lead concentrate imports by 9.6 percent in 2024 compared to 2023, bringing in a total of 712,000 metric tons.

3. Russia

Lead reserves: 8.9 million metric tons

Russia ranks third in lead reserves, with 8.9 million metric tons — up from estimates in past years. Production has remained relatively stable, coming in at 220,000 metric tons in 2024, and the country continues to benefit from its vast resource base in Siberia and the Far East.

Given mounting geopolitical tensions and Western sanctions, Russia has sought to strengthen resource independence by prioritizing internal demand and increasing ties with aligned economies. Lead plays a smaller but still strategic role in the country’s mining sector, particularly as a byproduct of polymetallic ore operations.

4. Mexico

Lead reserves: 5.6 million metric tons

Mexico is a major producer of silver and zinc, and lead often comes as a byproduct of those mining operations. The country holds the fourth-largest lead reserves globally at 5.6 million metric tons.

With its mining industry deeply integrated into global supply chains, Mexico is an essential exporter to both North American and Asian markets. The country produced 180,000 metric tons in 2024.

5. Peru

Lead reserves: 5 million metric tons

Rounding out the top five is Peru, a country known for its rich base metal deposits. With 5 million metric tons in lead reserves and a robust annual output of 270,000 metric tons in 2024, Peru remains a pillar of Latin American lead supply.

Other countries with notable lead reserves

While the top five countries above dominate the global reserve landscape, several other nations also hold substantial lead resources:

  • United States – 4.6 million metric tons
  • Iran – 2 million metric tons
  • India – 1.9 million metric tons
  • Sweden – 1.7 million metric tons
  • Turkey – 1.6 million metric tons
  • Bolivia – 1.6 million metric tons

Lead market outlook

Lead demand may be shifting with the rise of substitutes and regulatory changes, but the metal remains vital in energy storage, automotive batteries, radiation shielding and electronics. Countries with large lead reserves are not only crucial today — they are also strategically positioned to shape the future of global resource security.

The lead market in 2024 experienced notable volatility. Prices began the year strong and surged to a high of US$2,343 per metric ton in late May, but then retreated and fluctuated within a narrow range of US$1,950 to US$2,150 per MT.

By the end of the year, prices were down 2.4 percent year-to-date. Analysts attribute the swings to tightening regulations in China, reduced supply and global economic uncertainties.

Global demand for refined lead is expected to rise by 1.9 percent in 2025 to 13.39 million metric tons. Growth will be driven by increased consumption in India and Vietnam, and recovering demand in Europe and Mexico. The EV market remains a crucial new demand vector, with lead-acid batteries still widely used for onboard systems.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

NEWYou can now listen to Fox News articles!

Democrats on the House Judiciary Committee sent a letter Tuesday requesting House Judiciary Chairman Jim Jordan, R-Ohio, to condemn the Department of Homeland Security (DHS) for ‘forcefully’ entering Rep. Jerry Nadler’s congressional office and handcuffing a member of his staff. 

The letter, sent by Nadler and fellow House Judiciary Ranking Member Jamie Raskin, D-Md., disputes DHS’ claim that agents were doing a ‘security check’ at Nadler’s office. 

‘We therefore urge you to bring the Secretary of the DHS, Kristi Noem, before our Committee immediately to answer our questions about her agency’s irresponsible and dangerous actions,’ the House Democrats said in the letter.  

Nadler and Raskin said the video released from the incident reveals agents handcuffed a staffer and demanded access to ‘non-public areas’ inside Nadler’s office without ‘asking about the safety and security of his staff.’

‘These types of intimidation tactics are completely unwarranted and cannot be tolerated. The decision to enter a congressional office and detain a congressional staff member demonstrates a deeply troubling disregard for proper legal boundaries,’ Nadler and Raskin said. 

The House Democrats are urging Jordan to condemn the incident and requesting DHS Secretary Noem testify before the House Judiciary Committee. 

‘We call on you, as Chairman of the House Committee on the Judiciary, to condemn this aggressive affront to the separation of powers and the safety of Members of Congress, our staff, and our constituents,’ Nadler and Raskin said. 

DHS previously told Fox News Digital the Federal Protective Service (FPS) officers who entered Nadler’s office were responding to reports that protesters were inside Nadler’s district office in Manhattan. There was a protest outside an immigration courthouse in the same facility as Nadler’s office. 

‘Based on earlier incidents in a nearby facility, FPS officers were concerned about the safety of the federal employees in the office and went to the location to ensure the safety and wellbeing of those present,’ a Homeland Security spokesperson told Fox News Digital. 

‘Officers identified themselves and explained their intent to conduct a security check. However, one individual became verbally confrontational and physically blocked access to the office,’ the spokesperson added. ‘The officers then detained the individual in the hallway for the purpose of completing the security check. All were released without further incident.’

The House Democrats refuted the spokesperson’s claim in the letter and criticized the incident as a larger issue within President Donald Trump’s crackdown on illegal immigration. 

‘Sadly, this incident is part of a broader pattern by President Donald J. Trump and DHS of using unlawful, chaotic, and reckless tactics in communities across America, as they threaten and intimidate children, members of the clergy, students, as well as Members of Congress and their staffs,’ they said. 

Nadler slammed Trump for ‘sowing chaos’ in a statement released Saturday. 

‘The time is now to halt the use of these illegitimate tactics and to ensure that DHS complies with the law and with the norms of common human decency,’ Nadler and Raskin conclude in the letter. 

DHS did not immediately provide a comment. 

Fox News Digital’s Louis Casiano contributed to this report. 

This post appeared first on FOX NEWS

NEWYou can now listen to Fox News articles!

House Oversight Committee Chairman James Comer, R-Ky., is welcoming the Trump administration’s backup as he continues to probe the alleged ‘cover-up’ of former President Joe Biden’s cognitive decline.

The Department of Justice (DOJ) is investigating pardons granted by the Biden White House, specifically whether the ex-president ‘was competent and whether others were taking advantage of him through use of autopen or other means,’ according to Reuters.

‘The Trump DOJ is right to open a probe into the potential unauthorized use of autopen at the Biden White House for sweeping pardons and other executive actions,’ Comer told Fox News Digital. ‘Americans demand transparency and accountability about who was calling the shots at the White House.’

The Kentucky Republican launched a House Oversight Committee probe into the prior administration last month, requesting appearances and information from five former senior Biden aides, including his physician Kevin O’Connor.

A source familiar with the matter previously told Fox News Digital that lawyers for all five former staffers were in communication with the committee, but Comer signaled that he would not rule out compelling their appearance if those talks fell through.

‘The House Oversight Committee is investigating the cover-up of President Biden’s mental decline and will be talking soon with a large group of former administration and campaign officials, under subpoena if necessary. We welcome the DOJ’s additional efforts to ensure accountability,’ Comer said.

The DOJ declined to comment when reached by Fox News Digital.

Republicans have unleashed a tidal wave of scrutiny on the previous Democratic White House as new reports – as well as old concerns previously dismissed by mainstream media – surface about Biden’s mental state while in office and what lengths those closest to him took to allegedly hide it from others. 

It was considered all but taboo in Washington’s political circles to discuss Biden’s mental acuity until his disastrous debate against then-candidate Donald Trump in 2024.

Since then, myriad accounts about the former president misremembering longtime allies or losing focus in meetings have flooded the media.

It’s brought new scrutiny on some of the unprecedentedly broad pardons he issued during his waning days in office, including for his son, Hunter Biden, despite previously saying he would not do so.

Biden is also currently dealing with stage 4 prostate cancer, which he announced last month, though he told reporters in recent days he was ‘optimistic.’

Like the DOJ, Comer’s probe is focused on Biden’s mental decline and use of autopen for pardons and other executive actions.

‘The Committee on Oversight and Government Reform is investigating the role of former senior Biden White House officials in possibly usurping authority from former President Joe Biden and the ramifications of a White House staff intent on hiding his rapidly worsening mental and physical faculties,’ Comer said in letters to the former Biden officials.

This post appeared first on FOX NEWS

NEWYou can now listen to Fox News articles!

President Donald Trump on Monday evening looked to reaffirm his administration’s position when it comes to nuclear negotiations with Iran and said Tehran will not be allowed ‘any enrichment of uranium.’

His message, which surfaced on multiple social media platforms, appeared to be a direct response to a report by Axios which cited two sources with ‘direct knowledge’ of a secret proposal that Washington provided to Tehran, allegedly said the U.S. would agree to permit ‘limited low-level uranium enrichment on Iranian soil for a to-be-determined period of time.’

Fox News Digital could not independently verify the details of the proposal, but if the decision to grant Tehran some uranium enrichment were granted, it would directly contradict public comments issued by lead negotiator Special Envoy Steve Witkoff, Secretary of State Marco Rubio and Trump.

Iran has repeatedly said it will not agree to a uranium enrichment ban, arguing it has the right to the process, which is also vital for nuclear energy. Iranian Foreign Minister Abbas Araqchi on Monday reiterated this point in a press conference from Egypt, and, according to the Tasnim News Agency, said he plans to respond to the U.S. proposal soon.

Araqchi did not comment on the specifics of the agreement but said his ‘response will be based on the principles of the Iranian nation.’ 

The proposal also reportedly included the notion that Iran could join a regional consortium for uranium enrichment, as a solution to its enrichment needs. However, Iranian Foreign Ministry spokesman Esmaeil Baqaei on Monday reportedly argued that this was not a new solution, nor an adequate substitute. 

‘If some parties are proposing such a process, we welcome it and have no problem with participation either. But we emphasize that such an initiative cannot replace enrichment inside Iran,’ the spokesperson said. 

The White House has not said how long it will attempt to negotiate with Iran over its nuclear program, as security officials have repeatedly warned that Iran could be playing for time as the threat of U.N. snapback sanctions is set to expire come October. 

Iran on Tuesday reiterated that it is not going to abandon negotiations but suggested it would not cave to Washington’s demands either. 

‘Iran won’t leave the negotiating table while protecting its national interests,’ a spokesperson for the Iranian government, Fatemeh Mohajerani, said, according to the Tasnim News Agency.

Though she added, ‘All scenarios are on the table. We are prepared for everything.’

This post appeared first on FOX NEWS

NEWYou can now listen to Fox News articles!

President Donald Trump on Tuesday criticized Sen. Rand Paul, R-Ky., for opposing his ‘big, beautiful bill.’ 

‘Rand Paul has very little understanding of the BBB, especially the tremendous GROWTH that is coming. He loves voting ‘NO’ on everything, he thinks it’s good politics, but it’s not. The BBB is a big WINNER!!!’ Trump wrote on TRUTH Social. 

The president added, ‘Rand votes NO on everything, but never has any practical or constructive ideas. His ideas are actually crazy (losers!). The people of Kentucky can’t stand him. This is a BIG GROWTH BILL!’ 

Paul is among a group of at least four Republican senators who have expressed apprehension over Trump’s ‘big, beautiful bill’ due to the budget package’s projected increase in the national debt. 

The White House has framed the bill as a solution to four years of failures under former President Joe Biden. Sens. Ron Johnson of Wisconsin, Rick Scott of Florida, and Mike Lee of Utah, three other Republicans in the upper chamber, have also shared concerns about the bill’s fiscal implications.

Paul told Breitbart News on Monday that while he believes the left is ‘adrift,’ most Republicans are shying away from intra-party debates on certain issues, similarly to how Democrats acted after former President Barack Obama’s re-election win. 

Paul reportedly said he supports ‘a lot’ of Trump’s budget package but disagrees with ‘the additional $5 trillion in debt’ the senator claims is attached to the bill. 

‘That’s a hard place for me as I support much of what’s in the bill, tax cuts, spending cuts, plus more spending cuts if we can get them. But I can’t reconcile myself to adding $5 trillion in debt, raising the debt ceiling,’ Paul said. 

The senator told Breitbart the debt is going to be $2.2 trillion this year and Republicans have largely continued Biden-era spending levels.

‘They’re anticipating $5 trillion in two years, and that means next year’s deficit that some people are saying it’s going to grow to over $3 trillion a year again,’ Paul said.

The senator separately expressed to the Associated Press that he told Trump this would be the first time in recent history that Republicans would ‘own’ the debt ceiling if an increase of the nation’s debt limit was included in the GOP’s sweeping tax and spending package. Paul reportedly added in the Breitbart interview that his opposition to portions of the ‘big, beautiful bill’ are meant to preserve the Department of Government Efficiency (DOGE)’s progress down the road. 

‘My fear is that when this bill passes that the ramifications a year out, two years out, will be, ‘My goodness, what happened to DOGE? What happened to the spending cuts? Why is the deficit so big still?’’ he said. ‘So I am working very hard to make sure there is still at least a part of the party — and it doesn’t have to be anti-Donald Trump because I’m for him in so many ways — but it also means people still have to stand up and present their own ideas of what they’re for.’ 

‘I do support President Trump and I support most of the bill,’ Rand also wrote on X, explaining his position. ‘I’m his biggest defender on foreign policy. But at the same time I want conservative government so I have to fight for what I believe in.’ 

Trump and Senate Majority Leader John Thune, R-South Dakota, met at the White House at a critical moment Monday as senators returned to begin negotiations over the president’s big tax breaks and spending cuts package.

Thune said that GOP senators are ‘on track’ to have the package approved by their July 4 deadline. But Thune also acknowledged the long road ahead as senators grind through private talks over changes to put their own stamp on the House-passed bill. Thune told the Senate floor on Monday that Republicans’ priority is ‘extending tax relief for hardworking Americans and strengthening our border, energy, and national security.’

Sen. Josh Hawley, R-Mo., meanwhile, says Trump told him in a call he ‘wants to make sure’ the Senate doesn’t cut Medicaid benefits, according to the AP.

The Missouri Republican has been working to strip steep healthcare cuts from the House bill, beyond work requirements for some aid recipients.

Hawley said Trump told him the senators could instead raise revenue by closing the so-called carried interest tax loophole used by wealthy filers.

The Associated Press contributed to this report.

This post appeared first on FOX NEWS

NEWYou can now listen to Fox News articles!

The Department of Health and Human Services announced it is shuttering a nationwide program that offered free COVID-19 tests to community organizations, citing it bled taxpayer funds despite the pandemic’s end. 

‘With COVID-19 behaving more like the seasonal flu — rising and falling through the year — and tests widely available at retail stores nationwide, continued federal distribution is a significant waste of taxpayers’ dollars,’ HHS told Fox News Digital Tuesday. ‘The COVID-19 pandemic is over and HHS is prioritizing funding projects that will deliver on President Trump’s mandate to address the chronic disease epidemic and Make America Healthy Again.’

The government had spent more than $1 billion on the program since it was established in 2021 under the Biden administration, Fox News Digital learned. 

The program deployed government-purchased COVID-19 tests to community partners across the country to deliver tests at no cost to the patient. HHS cited that testing for COVID-19 now mimics seasonal flu cases, with retail shops across the country stocking their shelves with COVID tests, meaning ‘continued federal distribution is a significant waste of taxpayers’ dollars.’

Americans who ordered tests through community partnership by 5 p.m. May 30 will still receive their order, according to HHS. 

HHS is in the midst of purchasing one million newer tests that are able to differentiate between the COVID-19 virus versus the flu, which will be deployed if there are any shortfalls or emergencies with the COVID testing, Fox Digital learned. 

State or local health departments, as well as community organizations that have a stockpile of tests and various local health centers may still provide free tests to Americans as the program shutters, according to HHS. 

The COVID-19 pandemic, which tore across the country in 2020, officially ended years ago. Then-President Joe Biden declared the pandemic was ‘over’ back in 2022, while the World Health Organization determined the pandemic officially ended by 2023. 

The announcement comes as the Trump administration’s top health department re-focuses its direction to addressing the nation’s spiraling chronic health issues, which come in the form of health issues such as rampant obesity, spikes in autism diagnoses and teenage depression. 

President Donald Trump‘s Make America Healthy Again Commission, which is chaired by HHS chief Robert F. Kennedy Jr, released its anticipated report assessing chronic diseases that have gripped U.S. youth in recent years May 22. 

The report’s findings include teenage depression nearly doubling from 2009 to 2019, more than one-in-five children over the age of six being considered obese, one-in-31 children diagnosed with autism by age 8 and childhood cancer spiking by 40% since 1975.  

‘Over 40% of the roughly 73 million children (aged 0-17) in the United States have at least one chronic health condition, according to the CDC, such as asthma, allergies, obesity, autoimmune diseases, or behavioral disorders,’ the report stated. ‘Although estimates vary depending on the conditions included, all studies show an alarming increase over time.’

Chronic diseases have a chilling effect on national security, commission members said in a Thursday morning phone call with the media. Roughly 75% of America’s youth aged 17–24 do not qualify to serve in the military due to obesity, asthma, allergies, autoimmune diseases or behavioral disorders, they said. 

‘We now have the most obese, depressed, disabled, medicated population in the history of the world, and we cannot keep going down the same road,’ Food and Drug Commissioner Marty Makary said in the phone call with the media. ‘So this is an amazing day. I hope this marks the grand pivot from a system that is entirely reactionary to a system that will now be proactive.’ 

The MAHA report will be followed by a policy recommendation report for the federal government later this summer. 

This post appeared first on FOX NEWS

Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNRF) (‘Athena Gold’ or the ‘Company’) is pleased to announce that it has entered into a property option agreement (the ‘Agreement’) with Firetail Resources Limited (ASX:FTL) (‘Firetail’) dated May 28, 2025, whereby the Company has granted Firetail the exclusive right (the ‘Option’) to acquire an 80% undivided interest in the Company’s Excelsior Springs Project located in Nevada, USA (‘Excelsior’ or the ‘Property’). If the Option is exercised, Firetail will pay Athena Gold AUD$200,000 in cash and issue 32,000,000 ordinary shares, and Firetail will be required to incur USD$5,000,000 in expenditures over a five-year term. A 1% net smelter return royalty will also be provided to Athena Gold on certain claims comprising the Property. If Firetail successfully earns its 80% interest, the parties will form a joint venture partnership that provides Athena Gold with a 20% free-carried interest until a Definitive Feasibility Study is published.

In addition, the Company is pleased to announce that mobilization for the proposed till program at its Laird Lake project in Red Lake, Ontario, has begun (refer to press release dated April 17, 2025).

‘Our efforts at Excelsior have attracted international interest, and we are pleased that the capable team at Firetail is keen to take on the risk and share the benefits with Athena Gold. The cash and share payments, as well as the exploration spend required for Firetail to earn an 80% interest, surpass the book value of Excelsior. When normalized to a 100% basis from 80%, the total investment approaches our current market capitalization. In addition to our significant shareholding in Firetail, Athena will maintain significant upside in the project through royalties and its 20% free-carried interest to a Definitive Feasibility Study. With Excelsior successfully monetized, we can place our focus on our new flagship project, Laird Lake, where crews have now mobilized for the 2025 field season,’ said Koby Kushner, President & CEO of Athena Gold.

Summary of the Terms of the Agreement

TERM: The term of the Option is five (5) years.

OPTION PERIOD: In consideration for the granting of the right to explore the Property and to purchase the Option Firetail shall pay a non-refundable cash fee of AUD$50,000 within five days from execution of the Agreement. Firetail has three (3) months from execution of the Agreement to determine whether to proceed with exercising the Option.

EXERCISE OF THE OPTION: Firetail can exercise the Option (the ‘Exercise Date’) within the three-month period and acquire the Property by:

  1. Paying AUD$200,000 within five (5) business days of the Exercise Date; and
  2. Issuing 32,000,000 ordinary shares in the capital of Firetail (the ‘Consideration Shares’) within five (5) business days of the Exercise Date. Firetail may at its sole discretion, elect to pay to the Company the value of the Consideration Shares in cash, calculated using the 5-day VWAP of Firetail ordinary shares trading on the Australian Securities Exchange.

Firetail agrees to incur an aggregate of not less than USD$5,000,000 in exploration expenditures on the Property over a five-year period commencing from the Exercise Date. If the Option is exercised, Athena Gold will retain a 20% free-carried interest in the Property until completion of a Definitive Feasibility Study by Firetail.

Potential Joint Venture

Assuming the entering into of a joint venture and prior to, the Company and Firetail agree to enter into a joint venture wherein the Company shall be responsible for 20% of the exploration expenditures on the Property, subject to Firetail having first expended or incurred the initial USD$5,000,000 in exploration expenditures on the Property. On commencement of the joint venture, Firetail will grant a 1% net smelter return royalty to the Company with respect to the production of all metals and minerals from the grounds without pre-existing royalties.

Upon commencement of production, from any and all mineral concessions, interests or rights acquired (collectively, the ‘Interests’), directly or indirectly, within the area of influence, these Interests will be subject to a 1% net smelter return royalty that will be granted to the Company and if any party’s interests are diluted below the 10% percentage share, this party’s said Interest will be converted to an additional 1% net smelter return royalty on the Property.

The Company reserves the right that it may, at its sole election and by providing written notice to Firetail, buy back any royalty that it has granted.

Each party to the joint venture has a right of first refusal on the terms and conditions set out in the Agreement in respect of a transfer of the whole or part of its percentage share and a party may not transfer any part of its percentage share unless and until it has complied with the terms and conditions in the Agreement.

Firetail shall have the option to terminate the Agreement at any time after giving the Company written notice of termination. In the event Firetail does not complete any part of its obligations under the Agreement, the Property will remain with the Company. The Agreement remains subject to the approval of the Canadian Securities Exchange.

About Athena Gold Corporation

Athena Gold is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct additional exploration drilling and studies on its projects across North America. Athena Gold’s Laird Lake project is situated in the Red Lake Gold District of Ontario, covering over 4,000 hectares along more than 10 km of the Balmer-Confederation Assemblage contact, where recent surface sampling results returned up to 373 g/t Au. This underexplored area is road-accessible, located about 10 km west of West Red Lake Gold’s Madsen mine and 34 km northwest of Kinross Gold’s Great Bear project. Meanwhile, its Excelsior Springs Au-Ag project is located in the prolific Walker Lane Trend in Nevada, where it us currently under option by Firetail Resources Limited. Excelsior Springs spans over 1,500 hectares and covers at least three historic mines.

For further information about Athena Gold Corporation and our Excelsior Springs Gold project, please visit www.athenagoldcorp.com.

On Behalf of the Board of Directors
Koby Kushner
President and Chief Executive Officer, Athena Gold Corporation

For further information, please contact:
Athena Gold Corporation
Koby Kushner, President and Chief Executive Officer
Phone: 416-846-6164
Email: kobykushner@athenagoldcorp.com

CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x 251
Email: cathy@chfir.com

Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, ‘forward-looking statements’) within the meaning of applicable Canadian and US. securities laws. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future exploration plans, future results from exploration, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: ‘believes’, ‘will’, ‘expects’, ‘anticipates’, ‘intends’, ‘estimates’, ”plans’, ‘may’, ‘should’, ”potential’, ‘scheduled’, or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company’s projects in a timely manner.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this press release or incorporated by reference herein, except as otherwise stated.

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

Source

Click here to connect with Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNRF) to receive an Investor Presentation

This post appeared first on investingnews.com