Athos Insights

Dear Shareholders,

Since closing our seed financing in March, Athos has continued to make meaningful progress across both our go-public strategy and exploration initiatives. I wanted to take the opportunity to provide shareholders with a general update on where things currently stand as we continue advancing the company.

Here’s an update:

Go Public 

1) Athos entered into a LOI with to merge with Meed Growth Corp. (a CPC).  Meed was selected for the following reasons:

• Clean capital structure with no debt or other liabilities and $525,000 in cash
• $950,000 valuation for the CPC
• Strong board, management and shareholdernetwork that will further strengthen Athos’ market visibility
• On track to sign the Definitive Agreement during the last week of May

https://athosmetals.com/athos-metals-corp-signs-letter-of-intent-with-meed-growth-corp-for-qualifying-transaction-and-tsxv-listing/

2) Completed 43-101 Technical Report

• 43-101 Technical Report completed at the end of April
• Submitted draft to the TSX Venture to pre-vet

3) Athos shareholder meeting

• Athos will be calling a shareholder meeting to approve the transaction.  We anticipate the meeting will be held virtually

4) Concurrent financing

• We will be launching a minimum offering of $1M flow through and $1M hard dollars.
• We wll reach out to Athos shareholders

Exploration

1) Commenced the VTEM Plus helicopter airborne survey.

• Work started at the end of April and weather permitting, will be complete in the next week or two.
• Currently reviewing preliminary data with final report due eight weeks following completion of the survey

https://athosmetals.com/athos-metals-commences-vtem-plus-airborne-geophysical-survey-over-the-empire-district-project/

2) Added to the Empire District land package

• Staked 1,250ha of claims adjacent to the Empire Property following a review of the preliminary VTEM Plus data
• Staked area provides a potential additional target on top of the seven identified to date.

3) Ramped up discussions with drill contractors

• Have ongoing dialogue with a number of drill companies that are available to start drilling in early August

We continue to make steady progress across both the corporate and exploration sides of the business and remain focused on building long-term value for shareholders.

On behalf of the Athos team, thank you for your continued support as we advance Athos toward the public markets and continue unlocking the potential of our district-scale critical minerals platform in Ontario.

Thank you for your continued support,

Alex Bayer

CEO, Athos Metals Corp.
P: 604-771-2624
E: info@athosmetals.com