SIG:CC - Sitka Intercepts Additional Visible Gold at its New Blackjack Gold Zone at the RC Gold Project in Yukon

(TheNewswire)

VANCOUVER, CANADA – TheNewswire - March 21, 2022 - Sitka Gold Corp.(“Sitka” or the “Company”) (CSE:SIG) (CNSX:SIG.CN) (FSE:1RF) (OTC:SITKF) is pleased toprovide an update on the progress of its previously announced 10,000metre diamond drill program (see news release dated February 17 th , 2022) at its district-scale,road accessible RC Gold Project (“RC Gold” or the “Project”).

The Company has completed three holes and is currently drilling itsfourth hole of the program (DDRCCC-21-025). Over 1,100 metres ofdrilling have been completed to date. Drilling has focused on furtherdefining the mineralized intrusive intersected at the Blackjack zonein drillhole DDRCCC-21-021 (Hole 21) which returned 1.17 g/t gold over 220.1 metres, including50.5 metres of 2.08 g/t gold (see news release dated December13 th , 2021). Drill corefrom the winter portion of the drill program is being shipped to afacility in Whitehorse, Yukon, for detailed logging and processingwith initial logging being completed at the Project site. Numerousoccurrences of visible gold have been observed in the drill core (forexample, see Figure 1), and all the drill holes have intersectedsignificant sections of the main mineralized intrusive megacrysticgranite unit as was seen in Hole 21. A second drill is anticipated tobe mobilized to the Project site within the next few weeks.

“We are learning a tremendous amount about the Blackjack zone withthis winter portion of our diamond drill program,” Stated Cor Coe,CEO of Sitka. “Our biggest recognition from this drilling is thatour mineralized intrusive is a dike and sill complex as seen atdeposits like Donlin Creek (5) . This has the potential to dramatically increase thestrike length, footprint, and size of this deposit, and should resultin more ounces of gold being closer to surface which we expect willpositively impact future economic considerations such as pit design.With the several instances of visible gold being observed during thelogging of these recent drill holes, the potential of the Blackjackzone continues to grow and we look forward to seeing what the assayresults will produce.”

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Figure 1 – Visible Gold inDDRCCC-22-023

Table 1 – Drill hole information

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Figure 2 – RC Project Drill HoleLocations at the Blackjack Zone

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'sTintina Gold Belt and of the Tombstone Gold Belt. It is the largestconsolidated land package strategically positioned mid-way betweenVictoria Gold's Eagle Gold Mine—Yukon’s newest gold mine whichreached commercial production in the summer of 2020—and GoldenPredator's Brewery Creek Gold Mine. The RC Gold Project land packagecomprises five underlying properties, namely, the RC, Bee Bop, Mahtin,Clear Creek, and Barney Ridge properties*. ?The Company recentlyidentified a large 500 m by 2000 m intrusion related gold system onthe Property at the Saddle Eiger zone and to date has drilled 19diamond drill holes into this system. This has been the main focus ofthe Company’s drill programs at RC Gold in 2020 and 2021 which havereturned several significant gold intercepts, including the last drillhole from the 2021 drill program, DDRCCC-21-021 (“Hole 21”) thatintersected 220.1 metres of 1.17 g/t gold from surface. 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 metre gold-in-soil anomalythat stretches from the Saddle West Zone to the Eiger Zone. This drillhole was collared 200 metres south of any previous drilling conductedand intersected a newly recognized controlling structure tomineralization known as the Blackjack Fault (see news release datedDecember 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 epizonal deposit with current Indicated Mineral Resource of 22.2million tonnes at a gold grade of 1.11 g/t (0.789 million ounces;Hulse et al. 2020) (3) ; andthe Florin Gold deposit, located adjacent to Sitka’s RC Goldproject, with a current Inferred Mineral Resource of 170.99 milliontonnes grading 0.45 g/t (2.47 million ounces; Simpson 2021) (4) .*

(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) Hanson, K., Woloschok,M., Kim, H. : Donlin Gold Project NI 43-101Technical Report entitled NI 43-101 Technical Report

on the Donlin Gold Project, Alaska, USAe?ective June 1, 2021.

https://www.novagold.com/_resources/projects/Technical-Report-Donlin-Gold-2021.pdf

About Sitka Gold Corp.

Sitka Gold Corp. is a mineral exploration company headquartered inCanada that is fully funded for its planned 2022 exploration programswith the completion of two financings totaling $9.2 million in 2021.The Company is managed by a team of experienced industry professionalsand is focused on exploring for economically viable mineral depositswith its primary emphasis on gold, silver and copper mineralproperties of merit. Sitka currently has an option to acquire a 100%interest in the RC, Barney Ridge, Clear Creek and OGI properties inYukon and the Burro Creek Gold property in Arizona. Sitka owns a 100%interest in its Alpha Gold property in Nevada, it’s Mahtin Goldproperty in the Yukon and it’s Coppermine River project in Nunavut.

Sitka is currently conducting a winter diamond drill program at its RCGold Project in the Yukon where the last hole drilled in 2021 (Hole21) resulted in the discovery of a new gold zone (the Blackjack zone)and returned 220.1 metres averaging1.17 g/t gold from surface (see news release dated February 17,2022).

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 to obtainsuch approvals. Accordingly, readers should not place undue relianceon the forward ? looking statements, timelines andinformation contained in this news release. Readers are cautioned thatthe 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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