ATHENA SILVER CORP - FORM 8-K - December 27, 2010

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):     December 23, 2010

Athena Silver Corporation
(Exact Name of Registrant as Specified in its Charter)

Delaware	_000-51808	90-0158978
(State or other jurisdiction of incorporation)	Commission File Number	(I.R.S. Employer Identification number)

c/o Brian Power; 2010A Harbison Drive # 312, Vacaville, CA  95687
(Address of principal executive offices)                    (Zip Code)

Registrant's telephone number, including area code:   (707) 884-3766

_________________________

(Former name or former address, if changed since last report)

___	Written communications pursuant to Rule 425 under the Securities Act
___	Soliciting material pursuant to Rule 14a-12 under the Exchange Act
___	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
___	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

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ITEM 7.01	REGULATION FD DISCLOSURE

      On December 23,  2010, Athena Silver Corporation (the “Company”) issued a press release announcing that it will spin-off to its shareholders, pro rata, a majority of its interest in Magellan Gold Corporation.  A copy of the press release is attached hereto.

ITEM 9.01:       EXHIBITS

	(c)	Exhibit
	Item	Title
	99.1	Press Release dated December 23, 2010.

SIGNATURES

       Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Athena Silver Corporation.
Date:  December 23, 2010	By_/s/ John C. Power__________________    John C. Power   Chief Executive Officer/Director

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