SITKF - Sitka Gold Corp. Issues Shares Under the Barney Ridge Gold Property and Clear Creek Gold Property Option Agreement

(TheNewswire)

VANCOUVER, CANADA – TheNewswire - July 5, 2022 - Sitka Gold Corp.(“Sitka” or the “Company”) (CSE:SIG) (CNSX:SIG.CN) (FSE:1RF) (OTC:SITKF) is pleased toannounce that, further to the Company’s news releasesdate June 30, 2020 and July 6, 2020, the Company issued an aggregateof 100,000 common shares in the capital of the Company (the“ Shares ”) at a deemed value of $0.16 per Share on each of July 7,2020, and June 11, 2021, to Bernie Kreft pursuant to the Barney Ridgegold property option agreement and the Clear Creek Gold propertyoption agreement (together, the “ Option Agreements ”). An additional aggregate of 100,000 Shares at a deemedvalue of $0.16 per Share were issued to Mr. Kreft on June 20, 2022,pursuant to the terms of the Option Agreements.

In accordance with the requirements of the OptionAgreements, the Company also intends to issue:

• an aggregate of 100,000 Shares to Mr. Kreft on orbefore June 26, 2023;

• an aggregate of 200,000 Shares to Mr. Kreft on orbefore June 26, 2024; and

• an aggregate of 500,000 Shares to Mr. Kreft on orbefore June 26, 2025.

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 metre diamond drillprogram at its RC Gold Project in the Yukon. Drilling is alsocurrently underway at the Company’s Alpha Gold Property in Nevadawhere up to 5,000 feet of drilling is planned.

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

Neither the CanadianSecurities Exchange nor its Regulation Services Provider (as that termis defined in the policies of the Canadian Securities Exchange)accepts responsibility for the adequacy or accuracy of thisrelease.

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 or statements that certainactions, events or results “may”, “could”, “should”,“would” or “occur”. This information and these statements,referred to herein as "forward ? looking statements", are not historical facts, are made as ofthe date of this news release and include without limitation,statements regarding discussions of future plans, estimates andforecasts and statements as to management's expectations andintentions with respect to, among other things, subsequent issuancesof Shares pursuant to the terms of the Option Agreements.

In making the forward-lookingstatements in this news release, the Company has applied severalmaterial assumptions, including without limitation, that the Companywill issue further Shares pursuant to the terms of the OptionAgreements.

These forward ? looking statements involve numerous risks and uncertainties andactual results might differ materially from results suggested in anyforward-looking statements. These risks and uncertainties include,among other things, market uncertainty and that the Company will notfulfill the terms of the Option Agreements.

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- lookinginformation, there may be other factors that cause results not to beas anticipated, estimated or intended. There can be no assurance thatsuch statements will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-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 financialout-look that are incorporated by reference herein, except inaccordance with applicable securities laws. We seek safeharbor.

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