Sitka Gold Corp.

Sitka Gold Corp. Closes $5.0 Million Private Placement

VANCOUVER, CANADA – November 7, 2024: Sitka Gold Corp. (“Sitka” or the “Company”) (TSXV:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to announce that the Company has closed a non-brokered private placement for aggregate gross proceeds of $4,999,020 (the “Offering”) through the issuance of 9,802,000 flow-through common shares in the capital of the Company (the “FT Shares”)  sold at a price of $0.51 per FT Share.

“This financing enables us to move forward with a healthy treasury of over $15 million and expand our drilling efforts across the extensive gold system identified at our road accessible, district-scale RC Gold Project, where two gold deposits have been discovered to date and several promising targets await further drill advancement”, commented Cor Coe, CEO and Director of Sitka.

Each FT Share was issued as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada).

The Company intends to use the net proceeds of the Offering on exploration and development programs on the Company’s flagship RC Gold Project in the Yukon Territory, which expenditures will qualify as “Canadian Exploration Expenses” as such term is defined in paragraph (f) of the definition of “Canadian exploration expense” in subsection 66.1(6) of the Tax Act and “flow through mining expenditures” as defined in subsection 127(9) of the Tax Act, which will be incurred on or before December 31, 2025 and renounced with an effective date no later than December 31, 2024, to the purchasers of the FT Shares.

The Offering remains subject to final acceptance from the TSX Venture Exchange. All securities issued pursuant to the Offering are subject to a hold period expiring on March 8, 2025.

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Sitka Drills 119.0 Metres Of 1.05 g/t Gold, Including  37.9 Metres Of 2.05 g/t Gold And 11.5 Metres Of 4.32 g/t Gold In Initial Diamond Drilling At The Rhosgobel Intrusion At Its Flagship RC Gold Project In Yukon

DDRCRG-24-001 returned 164.8 metres of 0.82 g/t gold starting 9 metres from surface, including 119.0 metres of 1.05 g/t gold,  37.9 metres of 2.05 g/t gold and 11.5 metres of 4.32 g/t gold in the first ever diamond drill hole at Rhosgobel.
Drilling confirms strong gold mineralization from surface to a depth of at least 300 metres.
Gold mineralization discovered at Rhosgobel is hosted in feldspar megacrystic quartz monzonite similar to that seen at the Blackjack gold deposit located 5 km along trend to the north.
Holes were drilled under a >300 ppb gold-in-soil anomaly that is part of a larger 1.5 km x 2 km gold-in-soil anomaly with values up to >500 ppb gold.
Rhosgobel is the largest mapped intrusion target within the Clear Creek Intrusive Complex.
Drill results underscore potential for Rhosgobel to host a significant multi-million ounce intrusion-related gold deposit.
VANCOUVER, CANADA – November 25, 2024: Sitka Gold Corp. (“Sitka” or the “Company”) (TSXV:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to announce assay results from the first ever diamond drill holes completed at the Rhosgobel intrusion, located at the Company’s road accessible, district-scale RC Gold Project in Yukon, Canada. Results from DDRCRG-24-001, which is the first diamond drill hole ever completed at Rhosgobel, returned 164.8 metres of 0.82 g/t gold starting 9 metres from surface, including 119.0 metres of 1.05 g/t gold, 37.9 metres of 2.05 g/t gold and 11.5 metres of 4.32 g/t gold. Initial diamond drilling at Rhosgobel intersected abundant sheeted veining and multiple occurrences of visible gold, with results confirming strong gold mineralization continues from surface to at least 300 metres. Results are currently pending for 6 additional diamond drill holes currently at the assay lab, including the first diamond drill holes ever completed at the Pukelman intrusion, located approximately 2 kilometres southeast of the Blackjack gold deposit (see Figure 4), where abundant sheeted veining has also been observed along with occurrences of visible gold in the drill core (see news release dated October 31, 2024).

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Sitka Gold Signs 30,000 Metre Diamond Drilling Contract for 2025 at its RC Gold Project, Yukon

VANCOUVER, CANADA – November 27, 2024: Sitka Gold Corp. (“Sitka” or the “Company”) (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce that it has signed an agreement with Kluane Drilling Corp. to complete up to 30,000 metres of diamond drilling in 2025 at its road accessible RC Gold Project (“RC Gold” or the “Project”) located in the prolific Tombstone Gold Belt in the Yukon. This will be the largest drilling campaign ever conducted at RC Gold and is anticipated to focus primarily on follow up drilling at the Rhosgobel and Pukelman intrusion targets along with further expansion drilling at the Blackjack gold deposit and drill testing other high-priority targets identified elsewhere on the district-scale, 431 square kilometre property.

Kluane Drilling Ltd., a well-established, highly experienced drilling company based in Whitehorse, Yukon with over 30 years of experience diamond drilling in the Yukon and around the world, has been contracted to complete up to 30,000 metres of drilling at the Company’s flagship RC Gold Project. Kluane Drilling is dedicated to providing quality drilling services based on technical innovation and human talent and specializes in achieving high drilling production in various drilling environments. Kluane Drilling has proven to be an exceptional contractor for the past two years and Sitka looks forward to continuing to work with them as the Company further advances RC Gold in 2025.

“We are very pleased to have secured the services of Kluane Drilling Ltd. for what will be our largest ever diamond drilling program planned for our RC Gold Project in 2025,” said Cor Coe, Director and CEO of Sitka. “Kluane provided Sitka with exceptional drilling services throughout our winter and summer drilling programs at RC Gold in both 2023 and 2024 and we look forward to continuing to develop the project with them in the coming year as we substantially increase the scale and scope of drilling. The 2024 drilling campaign at RC Gold returned excellent assay results from both the Blackjack gold deposit area and the first ever diamond drill holes at the Rhosgobel intrusion and has identified visible gold in its first two diamond drill holes at the Pukelman intrusion where assay results are still pending (see news releases dated November 25 and October 31, 2024). We are eagerly looking forward to following up on the success we had this past year and, with over $15 million in cash and no debt, the Company is fully funded to complete the planned work program at RC Gold in 2025. We also look forward to receiving the results from the last six diamond drill holes of the 2024 season totalling 2,774 metres that are still pending from RC Gold, with 2 holes from Pukelman and 4 holes from Blackjack.”

Stock Option Grant

Sitka Gold Corp. also announces that it has granted an aggregate of 5,500,000 incentive stock options (the “Options”) to officers, directors and consultants of the Company.  The Options are exercisable at $0.37 per share for a period of three years from the date of grant and are subject to the policies of the TSX Venture Exchange.

Upcoming Events

Sitka Gold will be attending and/or presenting at the following events*:

American Exploration and Mining Association Conference, Reno, NV: December 1 – 6, 2024
Metal Investors Forum, Vancouver, BC: January 17 – 18, 2025
VRIC, Vancouver, BC: January 19 – 20, 2025
RoundUp, Vancouver, BC: January 20 – 23, 2025
PDAC, Toronto, ON: March 2 – 5, 2025
Swiss Mining Institute, Zurich, Switzerland: March 18 – 19, 2025

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Sitka Confirms And Extends Another Reduced Intrusion-Related Gold System With Rock Samples Returning Up To 31.7 G/T Gold At Its Flagship RC Gold Project In Yukon

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