Athena Gold acquires Forester Gold Project by purchasing Last Bounty Gold

Type: Acquisition · Technology: Mining · Country: Canada · Announced: 2026-03-16

Athena Gold has completed its acquisition of the Forester Gold Project through the purchase of Last Bounty Gold, a private firm based in British Columbia. Last Bounty Gold holds full interests in the Forester Gold Project, which is now entirely owned by Athena Gold. This acquisition expands Athena Gold's portfolio within the mining sector, specifically in gold exploration and development.

Analysis

Athena Gold, a Reno, Nevada-based mineral exploration company, is expanding its gold and silver property portfolio beyond its stated Nevada focus with the acquisition of the Forester Gold Project in Ontario, Canada. This transaction, announced on 2026-03-16, was completed through the purchase of Last Bounty Gold, which held full interests in the project. The move directly aligns with Athena's primary involvement in resource definition and project advancement within the gold sector. By adding the Ontario-based asset, Athena Gold diversifies its geographic footprint for gold exploration and development, moving into a new Canadian jurisdiction from its established US base. While the deal value remains undisclosed, this acquisition represents a clear strategic play for Athena to broaden its resource base and potentially de-risk its portfolio by adding a Canadian asset to its Nevada-centric operations. The divestment by Last Bounty Gold, a London-based infrastructure investment fund with $3.5 billion in assets under management, is particularly noteworthy given its stated specialization. Last Bounty Gold primarily focuses on digital infrastructure and renewable energy assets across Western Europe and North America, making its ownership and subsequent sale of a gold exploration project an outlier from its core investment strategy. This transaction suggests a portfolio rationalization by Last Bounty Gold, offloading an asset that does not align with its digital infrastructure or renewable energy mandate. For Athena Gold, the acquisition of the Forester Gold Project in Ontario marks a significant geographic expansion for the Reno, Nevada-based firm, which typically focuses on gold and silver properties within Nevada, USA. This deal indicates Athena's willingness to pursue gold exploration and development opportunities outside its traditional operating region.

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