SIG:CC - Sitka Gold Closes $2.05 Million Financing
(TheNewswire)
VANCOUVER, CANADA – TheNewswire - November 5, 2025 - Sitka Gold Corp.(“Sitka” or the “Company”) (TSX-V:SIG) is pleased to announce it has closed its previously announcednon-brokered private placement with certain existing strategicinvestors for aggregate gross proceeds of $2,055,000 (the“ Offering ”) through the issuance of 1,500,000 flow-through commonshares (each, a “ FTShare ”) issued at a price of $1.37 per FTShare. Each of the FT Shares will qualify as “flow-through shares”within the meaning of the Income Tax Act (Canada) (the “ Tax Act ”).
"This financing, together withthe financing that closed last week for $28.5 million, represents apivotal milestone for Sitka, significantly strengthening our treasuryto over $43 million and positioning the Company to rapidly advance itsflagship RC Gold Project,” stated Cor Coe, CEOand Director of Sitka Gold. “The proceeds from these financings will enable Sitka to plan thelargest drill program ever conducted at RC Gold. Up to 60,000 metresof diamond drilling is anticipated at RC Gold in 2026, which willeffectively double the total metres drilled to date and rank among thelargest drill campaigns ever conducted in the Yukon. With 62 drillholes pending from RC Gold and an additional 7 drill holes pendingfrom the Coppermine River Project, we anticipate a steady flow ofassay results following the close of this financing.”
The Company will use an amount equal to the grossproceeds from the sale of the FT Shares to incur eligible “Canadianexploration expenses” that will qualify as “flow-through miningexpenditures” as such terms are defined in the Tax Act (the“ QualifyingExpenditures ”) related to the Company’s RCGold Project in the Yukon Territory, Canada on or before December 31,2026. All Qualifying Expenditures will be renounced in favour of thesubscribers effective December 31, 2025.
The Offering remains subject to final acceptance fromthe TSX Venture Exchange. All securities issued pursuant to theOffering are subject to a hold period expiring on March 6, 2026. Nofinder’s fees were paid in respect of the Offering.
The securities offered pursuant to the Offering havenot been, and will not be, registered under the United States Securities Act of 1933 (the “ U.S. Securities Act ”) or any U.S. statesecurities laws, and may not be offered or sold in the United Statesor to, or for the account or benefit of, United States persons absentregistration or any applicable exemption from the registrationrequirements of the U.S. Securities Act and applicable U.S. statesecurities laws.
The Company wishes to clarify its previouslydisseminated news release dated October 30, 2025, announcing theclosing of its $28.5 million financing. The news release inadvertentlydisclosed that the Company issued an aggregate of 974,000 CompensationOptions to the Underwriters. The actual number of Compensation Optionsissued in connection with the brokered offering was 974,100.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral explorationcompany headquartered in Canada with over $43 million in its treasuryand no debt. The Company is managed by a team of experienced industryprofessionals and is focused on exploring for economically viablemineral deposits with its primary emphasis on gold, silver and coppermineral properties of merit. Sitka is currently advancing its 100%owned, 431 square kilometre flagship RC Gold Project located withinthe Tombstone Gold Belt in the Yukon Territory. The Company is alsoadvancing the Alpha Gold Project in Nevada and currently has drillpermits for its Burro Creek Gold and Silver Project in Arizona and theCoppermine River Project in Nunavut, all of which are 100% owned bySitka.
*For more detailed information on the Company’sproperties please visit our website at www.sitkagoldcorp.com
ON BEHALF OF THE BOARD OF DIRECTORS OF SITKA GOLD CORP.
“ DonaldPenner ”
President and Director
For more information contact:
Donald Penner or Cor Coe
President & Director CEO & Director
778-212-1950 604-817-4753
dpenner@sitkagoldcorp.com ccoe@sitkagoldcorp.com
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This release includes certainstatements and information that may constitute forward-lookinginformation within the meaning of applicable Canadian securities laws.Forward-looking statements relate to future events or futureperformance and reflect the expectations or beliefs of management ofthe Company regarding future events. Generally, forward-lookingstatements and information can be identified by the use offorward-looking terminology such as “intends” or“anticipates”, or variations of such words and phrases orstatements that certain actions, events or results “may”,“could”, “should”, “would” or “occur”. Thisinformation and these statements, referred to herein as“forward ? looking statements”, are not historicalfacts, are made as of the date of this news release and includewithout limitation, statements regarding: the tax treatment of the FTShares; the timeline that the Company will renounce all QualifyingExpenditures in favour of the subscribers of the Offering; the use ofproceeds of the Offering; discussions of future plans, includingestimates and forecasts and statements as to management’sexpectations and intentions and the Company’s anticipated workprograms.
Forward-looking statements are basedon certain material assumptions and analysis made by the Company andthe opinions and estimates of management as of the date of this newsrelease, including, among other things, that: the Company’s plannedexploration activities will be completed in a timely manner; thetiming to incur and renounce Qualifying Expenditures will be ascurrently anticipated; the Company will use the proceeds of theOffering as anticipated; and the Company will receive the necessaryregulatory approvals with respect to the Offering.
Theseforward ? looking statements involve numerous risksand uncertainties and actual results might differ materially fromresults suggested in any forward-looking statements. These risksinclude, among others: the risk that the Company will not be able touse the proceeds of the Offering as anticipated; the risk that theCompany will not receive the necessary approvals in respect of theOffering; risks relating to the tax treatment of FT Shares and thetiming to incur and renounce Qualifying Expenditures; risks relatingto the actual results of current exploration activities, fluctuatinggold prices, possibility of equipment breakdowns and delays,exploration cost overruns, availability of capital and financing,general economic, market or business conditions, regulatory changes,timeliness of government or regulatory approvals and other risksdetailed herein and from time to time in the filings made by theCompany with securities regulators.
Although management of the Companyhas attempted to identify important factors that could cause actualresults to differ materially from those contained in forward-lookingstatements or forward-looking information, there may be other factorsthat cause results not to be as anticipated, estimated or intended.There can be no assurance that such statements will prove to beaccurate, as actual resultsand future events could differ materially from those anticipated insuch statements. Accordingly, readers should not place undue relianceon forward-looking statements and forward-looking information. Readersare cautioned that reliance on such information may not be appropriatefor other purposes. The Company does not undertake to update anyforward-looking statement, forward-looking information or financialoutlook that are incorporated by reference herein, except inaccordance with applicable securities laws. We seek safeharbor.
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