SITKF - Sitka Gold Provides Year End Review and Upcoming Plans for Yukon Arizona and Nevada Projects

(TheNewswire)

VANCOUVER, CANADA – TheNewswire - January 11,2021 - Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG)(FSE:1RF) (OTC:SITKF)(CNSX:SIG.CN) is pleased to provide a summary ofprogress and accomplishments made over the past 12 months of activityand an overview of planned exploration programs for 2021 at its BurroCreek Property in Arizona, its Alpha Gold Property in Nevada and itsRC Gold and OGI Projects in Yukon.

Recap and Highlights of 2020

• - During the past year, Sitka raised over $3.0 millionvia two separate private placement financings and shareholders’exercise of warrants

• - The Company completed significant explorationdrilling programs throughout the year on its Yukon, Arizona, andNevada projects

• - In January, the Company completed the acquisition ofthe Mahtin Property, which expanded the size of the RC Gold Project inYukon over twelve-fold, from 2600 hectares to 32,842 hectares (328square kilometers)

• - In January, the Company continued the drill programthat was underway at its Burro Creek Gold Property in Arizona and inApril, the Company announced the results of the its Phase 1 drillingprogram at Burro Creek which included 10 diamond drill holes withhighlighted intersections such as 11.70 m of 3.23 g/t gold and 72.86 g/tsilver (see news releases dated January17 th and April 14, 2020) and also confirmed the extension of the BurroCreek vein as out lined by the surface gold anomaly

• - In June the Company drilled the first deep diamonddrill hole ever to be drilled at its Alpha Gold Property in Nevada,and in September, announced the results of this drill hole includingthe intersections of anomalous gold and coincident mercury which theCompany believes could leakage from a Carlin-type gold system atdepth

• - In late June and early July the Company announced theacquisition of two additional underlying property agreements at its RCGold Project in Yukon with the acquisition of the Barney Ridge andClear Creek Properties, bringing the total area of the RC Gold Projectto over 345 square kilometers (34,500 hectare or 85,000 acres)

• - In July the Company began its inaugural 1500 metrediamond drill program on its RC Gold Project in Yukon and in Augustthe Company announced the acquisition of the OGI Property inYukon

• - In September the Company completed 4 reversecirculation (RC) drill holes at the OGI Silver-Zinc Property in Yukon,the first drill holes to ever be drilled there; results are currentlypending

• - In September the Company completed its 1500 metre, 6diamond drill hole, exploration program at RC Gold as well as thecollection of 531 soil samples and 140 m of trenching and subsequentlyannounced the results of this program including three new golddiscoveries and exceptional intersections of gold such as 100 metres of 0.82 g/t gold and aseparate interval (not part the aforementioned section) of 2 metres of16.1 g/t gold, both from diamond drill hole DDRCCC20-002 (see newsrelease dated December 16, 2020)

• - In October, the Company staked additional claims tocover highly prospective ground adjacent to its RC Gold Project,bringing this district-scale land package to 376 contiguous squarekilometres, solidifying the RC Gold Project as the most dominant landassembly between Victoria Gold’s Eagle Gold Mine and GoldenPredator’s Brewery Creek Gold Mine in the highly fertile TombstoneGold Belt in Yukon

• - In October the Company completed 42 sq-km of airborneLiDAR imagery over priority target areas of the RC Gold Project

• - In November the Company staked an additional 27claims at Alpha Gold in Nevada to cover a newly identified Carlin-typegold deposit target and subsequently applied to the Bureau of LandManagement (BLM) for a permit for up to 5 drill hole sites on this newclaim block; the permit was recently received as announced in theCompany’s January 7, 2021 news release

• - During the year the Company presented at AMEBCRoundup in Vancouver, the PDAC convention in Toronto, the MetalsInvestment Forum (MIF) in Vancouver and several other conferences thathave switched to virtual platforms including New Orleans, MetalsInvestment Forum and the Mines and Money Online conference; the CEOand President also attended interviews with numerous newsletterwriters and analysts who have taken an interest in Sitka

Cor Coe, CEO and Director, stated: “Sitka’s list ofaccomplishments this past year are quite remarkable and would not havebeen possible without the extraordinary drive and focus of our highlyexperienced management team. We raised over $3 million last year andwere able to deploy some of those funds to complete four separatedrill programs on four separate properties located in Nevada, Arizonaand Yukon during a time when newly enacted travel and workrestrictions made for very challenging project logistics. Thesuccessful results we have produced this year further highlightmanagement’s abilities to identify highly prospective gold andsilver targets. The impressive new gold discoveries made during theinaugural drill program at our RC Gold Property in Yukon is furthertestimonial to the expertise of this team and I would like to thankthem and all the project staff and contractors who contributed to thesuccessful completion of our numerous exploration programs throughout2020. Moving forward, our primary objective in 2021 is to follow up onthe discoveries we have made at Burro Creek, RC Gold and Alpha Goldwith additional drilling coupled with the integration of historicaldata and further surface sampling, mapping, geophysics, and ground and satellite-based multi-spectral imagery in orderto rapidly advance our most prospective targets and ultimately developnew mineral resources in these proven and productive miningjurisdictions. The Company is well positioned to capitalize on what isshaping up to be a very eventful and exciting exploration year and isalready starting to fulfill its 2021 objectives with a drill programat Alpha Gold scheduled to commence in the next few weeks.”

About Sitka Gold Corp.

Sitka Gold Corp. is a mineral exploration companyheadquartered in Canada and managed by a team of experienced miningindustry professionals. The Company 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 Yukon and the Burro Creek Goldproperty in Arizona. Sitka owns a 100% interest in its Alpha Goldproperty in Nevada, it’s Mahtin Gold property in the Yukon andit’s Coppermine River project in Nunavut. Directors and Managementown approximately 15% of the outstanding shares of Sitka Gold Corp., asolid indication of their alignment with shareholders’interests.

The scientific and technical content of this newsrelease has been reviewed and approved by Cor Coe, P.Geo., Directorand CEO of the Company, and a Qualified Person (QP) as defined byNational Instrument 43-101.

ON BEHALF OF THE BOARDOF DIRECTORS OF

SITKA GOLD CORP.

“ DonaldPenner ”

President andDirector

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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