SIG:CC - Sitka Continues Drill Program at RC Gold Yukon and Appoints Dr. Craig Hart to Advisory Board

(TheNewswire)

VANCOUVER, CANADA – TheNewswire - June 09, 2022 - Sitka Gold Corp.(“Sitka” or the “Company”) (CSE:SIG) (CNSX:SIG.CN) (FSE:1RF) (OTC:SITKF) is pleased to announce that it has recommenced the previouslyannounced 10,000 metre (m) diamond drilling program (see news releasedated January 6, 2022) at its RC Gold Project (“RC Gold” or “theProject”) located in the prolific Tombstone Gold Belt (TGB) in theYukon (see Figure 2). Sitka successfully completed four drill holesfor a total of 1242.8 m during the winter portion of theProject.

“Sitka is excited to resume drilling on the mostrecent discovery of potentially economic intrusion-related goldmineralization within the Yukon portion of the TGB. The widths andgrades encountered in drilling at our Blackjack zone are verysignificant when compared to our peers Victoria Gold and Banyan Goldwho are mining and/or exploring their deposits within the TGB.Victoria Gold is currently mining the Eagle Gold deposit whichhad Measured and Indicated Resources prior tomining of 214 million tonnes grade of 0.63 g/t gold (Au) estimated ata 0.15 g/t cut-off (4.397 million ounces; Goodwin et al.2019) (2) . Banyan Gold recently announced an combined Inferred MineralResource at the Airstrip, Powerline and Aurex Hill deposits on their AurMac Project of 207.0 million tonnes grading0.60 gram per tonne Au at an estimated cut-off grade of 0.2 to 0.3 g/t(3.99 millon ounces; Jutras 2022) (5) , stated Cor Coe, P.Geo., CEO and Director ofSitka. ”

The company plans on expanding the Blackjack zone whichwas discovered with the final hole of the 2021 drill season(DDRCCC-21-021 or “Hole 21”) and was the focus of the 2022 winterdrilling campaign (Holes 22 to 25).

Recent Blackjack Zone DrillingHighlights:

• Hole 21 (DDRCCC-21-021)

220 metres (m) of 1.17 g/t Au fromsurface including,

50.5 m of 2.08 g/t gold

• Hole 22 (DDRCCC-22-022)

273 m of 0.52 g/t Au from 46 m to 319m including,

62 m of 1.21g/t Au

• Hole 23 (DDRCCC-22-023)

205.8 m of 1.01 g/t Au from surfaceincluding,

91.0 m of 1.61 g/t Au

• Hole 24 (DDRCCC-22-024)

107.5 m of 1.44 g/t Au from 4.5 m to112.0 m including,

66.0 m of 2.11 g/t Au.

Hole 25, which is still pending, stepped outapproximately 80 m to the east of Hole 21 and was drilled at the sameorientation and dip. This drill hole encountered similar geology tothe previous drill holes with visible gold observed in the drill core. A pattern of step-out holes as shown in Figure 1 is planned toexpand the zone which is open in all directions and further define theextent of gold mineralization present in the Blackjack Zone. The goalof this phase of drilling is to gather sufficient data to estimate aninitial gold resource. Sitka has employed two drill rigs that arecurrently on site to complete the planned 10,000 m diamond drillprogram.

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Figure 1: ProposedStep-out Drilling at the Blackjack Zone

Click Image To View Full Size

Figure 2: RegionalMap of the RC Gold Project

About the RC Gold Project

The RC Gold Project consists of a 376 square kilometre contiguousdistrict-scale land package located in the newly road accessible ClearCreek, Big Creek, and Sprague Creek districts in the heart of Yukon'sTombstone Gold Belt. It is the largest consolidated land packagestrategically positioned mid-way between Victoria Gold's Eagle GoldMine - Yukon’s newest gold mine which reached commercial productionin the summer of 2020 - and Sabre Gold Mine’s Brewery Creek GoldMine. The RC Gold Project land package comprises five underlyingproperties, namely, the RC, Bee Bop, Mahtin, Clear Creek, and BarneyRidge properties*. ?The Company recently identified a large 500 m by2000 m intrusion related gold system on the Property at the SaddleEiger zone and to date has drilled 23 diamond drill holes into thissystem. This has been the main focus of the Company’s drill programsat RC Gold in 2020, 2021 and 2022 which have returned severalsignificant gold intercepts. including the last drill hole from the2021 drill program, DDRCCC-21-021 (“Hole 21”) that intersected 220.1 m of 1.17 g/t gold fromsurface that included 50.5 m of 2.08 g/t gold . Hole 21,located in the Saddle West Zone, was drilled under a greater than 500ppb gold-in-soil anomaly that was previously identified on surface andis part of the larger 2 kilometre by 500 m gold-in-soil anomaly thatstretches from the Saddle West Zone to the Eiger Zone and is open inall directions. This drill hole was collared 200 m south of anyprevious drilling conducted and intersected a newly recognizedcontrolling structure to mineralization known as the Blackjack Fault(see news release dated December 13, 2021).

Sitka Gold inherited a wealth of historical and current data fromthese properties from work spanning the last 40 years. Recentexploration work and the compilation of historical data have definedseveral mineralized zones with both bulk tonnage, intrusion-relatedgold deposit targets and high-grade, vein- and breccia-hosted goldtargets. The RC Gold Project also has a common border with VictoriaGold’s Clear Creek property at its western boundary and FlorinResources’ Florin Gold property at its northern boundary.

*For more detailed information on the underlying properties pleasevisit our website at www.sitkagoldcorp.com .

Deposit Model

Exploration on the Property has mainly focused on identifying anintrusion-related gold system (“IRGS”). The property is part ofthe Tombstone Gold Belt which is the prominent host to IRGS depositswithin the Tintina Gold Province in Yukon and Alaska. Notable depositsfrom the belt include: Fort Knox Mine in Alaska with current Provenand Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471million ounces; Sims 2018) (1) ; Eagle Gold Mine with current Proven and ProbableReserves of 155 million tonnes at a diluted grade of 0.65 g/t Au atthe Eagle and Olive deposits (3.261 million ounces; Goodwin et al.2019) (2) ; the BreweryCreek deposit with current Indicated Mineral Resource of 22.2 milliontonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al.2020) (3) ; the Florin Golddeposit, located adjacent to Sitka’s RC Gold project, with a currentInferred Mineral Resource of 170.99 million tonnes grading 0.45 g/t(2.47 million ounces; Simpson 2021) (4) and the AurMac Project with an InferredMineral Resource of 207.0 million tonnes grading 0.60 gram per tonnegold (3.99 millon ounces; Jutras 2022) (5) .

(1)    Sims J. Fort Knox Mine Fairbanks North StarBorough, Alaska, USA National Instrument 43-101 Technical Report. June11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads/2018/Fort-Knox-June-2018-Technical-Report.pdf

(2)    Goodwin R, Gray P, Jutras M, Tang S, Wilbur S. Technical Report for the Eagle Gold Mine, Yukon Territory, Canada.JDS Energy & Mining Inc.  December 6, 2019.

https://vitgoldcorp.com/site/assets/files/6480/jds-vit-eagle-gold-ni-43-101-fs-report-20191206.pdf

(3)    Hulse D, Emanuel C, Cook C. NI43-101 TechnicalReport on Mineral Resources. Gustavson Associates. May 31, 2020.

https://www.goldenpredator.com/_resources/Brewery-Creek_NI-43-101-05OCT2020-File.pdf

(4)    Simpson R.  Florin Gold Project NI43-101Technical Report. Geosim Services Inc.  April 21, 2021. https://sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=00005795&issuerType=03&projectNo=03236138&docId=4984158

(5 ) Banyan Gold News Release Dated May 17, 2022 (Technical Reportto be filed within 45 days of news release)https://www.banyangold.com/news-releases/2022/banyan-announces-4-million-ounce-gold-mineral-resource-estimate-for-the-aurmac-property-yukon-canada/

Appointment of Dr. Craig Hart toBoard of Advisors

Sitka is pleased to announce the appointment of Dr. Craig Hart as aTechnical Advisor to the company.  Craig is an internationallyrecognized geoscientist who played a pivotal role in the developmentof intrusion-related gold systems, such as those that form gold atSitka's RC Gold Project.  He was most recently the Director and anAssociate Professor at the MDRU-Mineral Deposit Research Geologist atThe University of British Columbia.  Craig was also a foundinggeologist with the Yukon Geological Survey and contributed 15 years asa mapping and mineral deposit geologist and has an outstandingunderstanding of Yukon geology and mineral deposits.  He has a PhDfrom the University of Western Australia and has contributed to thepublication of >150 scientific papers.

"I look forward to working with the Sitka team and contributingto their exploration success,” commented Craig Hart. “Inparticular, I know the geology and mineralization of Sitka's RC GoldProject and can help to build an increased understanding of themineralizing system."

“We are very happy to welcome Craig back to the Clear Creek areawhere he first began his involvement in researching Intrusion hostedgold deposits in 1998 with a series of papers published in the YukonExploration and Geology annual publication,” stated Mike Burke, VPCorporate Development. “Craig’s research has driven theunderstanding of these deposits and we know he is looking forward togetting his hands and boots dirty to help unlock the potential at theRC Gold project.”

The Company also announces that it has granted an aggregate of 400,000incentive stock options (the “Options”) to Mr. Hart.  The Optionsare exercisable at $0.13 per share for a period of three years fromthe date of grant, vest quarterly every six months, and are subject tothe policies of the Canadian Securities Exchange.

Upcoming Events

Sitka Gold will be attending the following events:

• PDAC 2022 - Toronto, Ontario: June 13 th - 15 th , 2022

  • Booth #2346

• Invest Yukon Conference, Dawson City, Yukon: June 21 st - 23 rd , 2022

About Sitka Gold Corp.

Sitka Gold Corp. is a well-funded mineral exploration companyheadquartered in Canada. The Company is managed by a team ofexperienced industry professionals and is focused on exploring foreconomically viable mineral deposits with its primary emphasis ongold, silver and copper mineral properties of merit. Sitka currentlyhas an option to acquire a 100% interest in the RC, Barney Ridge,Clear Creek and OGI properties in the Yukon and the Burro Creek Goldproperty in Arizona. Sitka owns a 100% interest in its Alpha Goldproperty in Nevada, its Mahtin Gold property in the Yukon and itsCoppermine River project in Nunavut.

Sitka is currently conducting a planned 10,000 m diamond drill programat its RC Gold Project in the Yukon. A drill rig and contractor hasalso been secured to complete up to 5,000 feet of drilling its AlphaGold Property in Nevada where drilling is anticipated to begin in Q2of 2022.

The scientific and technical content of this news release has beenreviewed and approved by Cor Coe, P.Geo., Director and CEO of theCompany, and a Qualified Person (QP) as defined by National Instrument43-101.

ON BEHALF OF THE BOARD OF DIRECTORS OF

SITKA GOLD CORP.

“ DonaldPenner ”

President and Director

For more information contact:

Donald Penner

President & Director

778-212-1950

dpenner@sitkagoldcorp.com

or

Cor Coe

CEO & Director

604-817-4753

ccoe@sitkagoldcorp.com

Cautionary and Forward-LookingStatements

This news release containsforward ? looking statements and forward ? looking information within the meaning of applicable securitieslaws. These statements relate to future events or future performance.All statements other than statements of historical fact may beforward ? looking statements or information.Forward ? looking statements and information areoften, but not always, identified by the use of words such as“appear”, “seek”, “anticipate”, “plan”,“continue”, “estimate”, “approximate”, “expect”,“may”, “will”, “project”, “predict”, “potential”,“targeting”, “intend”, “could”, “might”, “should”,“believe”, “would” and similar expressions.

Forward-looking statements andinformation are provided for the purpose of providing informationabout the current expectations and plans of management of the Companyrelating to the future. Readers are cautioned that reliance on suchstatements and information may not be appropriate for other purposes,such as making investment decisions. Since forward ? looking statements and information address future events andconditions, by their very nature they involve inherent risks anduncertainties. Actual results could differ materially from thosecurrently anticipated due to a number of factors and risks. Theseinclude, but are not limited to, the expected timing and terms of theprivate placement, use of proceeds, anticipated work program, requiredapprovals in connection with the work program and the ability toobtain such approvals. Accordingly, readers should not place unduereliance on the forward ? looking statements,timelines and information contained in this news release. Readers arecautioned that the foregoing list of factors is not exhaustive.

The forward ? looking statements and information contained in this news releaseare made as of the date of this news release and no undertaking isgiven to update publicly or revise any forward ? looking statements or information, whether as a result of newinformation, future events or otherwise, unless so required byapplicable securities laws or the CSE. The forward-looking statementsor information contained in this news release are expressly qualifiedby this cautionary statement.

Neither the CSE nor its RegulationServices Provider (as that term is defined in the policies of the CSE)accepts responsibility for the adequacy or accuracy of this release.No stock exchange, securities commission or other regulatory authorityhas approved or disapproved the information contained herein.

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