The Conversation (0)
Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce assay results and provide an update on the 30,000 metre planned diamond drill program currently in progress at it 100% owned RC Gold Project located in the Yukon's prolific Tombstone Gold Belt (see Figure 5). The drilling is progressing exceptionally well, with over 10,000 metres of the planned 30,000-metre program already completed ahead of schedule and under budget. Visible gold has been observed in multiple drill holes across all the target areas currently being drilled, namely the Blackjack, Saddle, Eiger and Rhosgobel (see Figure 4). Results have been received and compiled for the first completed drill hole of the season, DDRCCC-25-077, returning 211.2 metres of 1.13 g/t gold, including 73.2 metres of 2.05 g/t gold, from the drilling in the Blackjack deposit expansion program. A total of 23 holes have been completed in the 2025 drilling program with 7 holes in the Blackjack deposit expansion, 4 holes in the Eiger deposit expansion, 9 holes in the Saddle zone, which lies within the conceptual pit limits of the Blackjack deposit, and three holes in the Rhosgobel intrusion which is located five kilometres to the south of the Blackjack-Saddle-Eiger drilling (see Figures 2, 3 and 6). Results are currently pending for the additional holes that have been completed to date at RC Gold.
- Visible gold intersected in all target areas drilled including the first 3 holes drilled this year at the Rhosgobel target
- DDRCCC-25-077 intersects 211.2 m of 1.13 g/t gold including 73.2 m of 2.05 g/t gold
- Over 10,000 metres in 23 holes of planned 30,000 m drill program completed to date
- Sitka collars 100th drill hole on the RC Gold Project since initial drilling began in 2020
- Four drill rigs currently turning at the Blackjack, Saddle, Eiger and Rhosgobel zones
Table 1: Assay highlights for this release
*Intervals are drilled core length, as insufficient drilling has been completed at this time to determine true widths.
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"While we are still awaiting assays results for nearly all the holes completed since the start of our summer drill campaign, the presence of visible gold in drill core across all our target areas is a strong indication that our drilling program is successfully expanding our existing deposits and uncovering new zones with the potential to host additional gold deposits," said Cor Coe, Director and CEO of Sitka. "We are especially excited about the Rhosgobel target where VG has been observed in all three holes drilled so far this year, with the deepest observation at a down-hole depth of 314.7 metres in DDRCRG-25-004. This bodes very well for the discovery of an additional gold deposit at Rhosgobel, where the first ever diamond drill hole was completed last year and returned strong gold values of up to 164.8 metres of 0.82 g/t gold starting 9 metres from surface, including 119.0 metres of 1.05 g/t gold, 37.9 metres of 2.05 g/t gold and 11.5 metres of 4.32 g/t gold (see news release dated November 25, 2024). We look forward to a steady flow of assay results in the coming weeks and months as we work to showcase the potential of the Clear Creek Intrusive Complex to host multiple multi-million ounce gold deposits."
BLACKJACK DEPOSIT DRILLING
The drilling to expand the Blackjack deposit continues to intersect gold mineralization outside of the current pit-constrained mineral resource. Drilling is targeting both shallow and deeper portions of the Blackjack deposit and results from the first hole of the summer drilling campaign, DDRCCC-25-077, intersected 211.2 metres of 1.13 g/t gold including 73.2m of 2.05 g/t gold. An additional four holes totaling approximately 2,030 metres have been completed with all drill holes reported to contain observations of visible gold.
Figure 1: Cross Section of DDRCCC-25-077
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SADDLE ZONE DRILLING
The Saddle zone is located midway between the Blackjack and Eiger deposits and lies within the conceptual pit limit of the Blackjack mineral resource estimate. The Saddle zone drilling is designed to outline an initial resource in the Saddle zone area. Drilling in the Saddle zone has intersected quartz veining within weakly to moderately mineralized biotite schist cut by variably mineralized quartz monzonite dykes and sills and lamprophyre dykes. Visible gold has been observed within sheeted quartz veins cutting both the quartz monzonite dykes and mineralized metasediments.
EIGER DEPOSIT DRILLING
The Eiger deposit has not been drilled since its initial discovery in 2021. Drilling is planned to expand the deposit which is open in all directions. The Eiger intrusion consists of a fine grained diorite cut by occasional aplite and feldspar porphyry dykes. Quartz veining has been intersected within the metasediments and intrusive rocks in the current drilling with visible gold overserved in both metasediments and intrusives.
RHOSGOBEL TARGET DRILLING
Drilling has commenced on the Rhosgobel target with 3 holes collared to date stepping out from the discovery holes DDRCRG-24-001 and 002 which intersected 119.0 metres of 1.05 g/t gold including 37.9 metres of 2.05 g/t gold and 173.3 metres of 0.60 g/t gold including 28.4 metres of 1.37 g/t gold respectively (see news release dated November 25, 2024) in the first two diamond drill holes ever drilled within this target area. Drilling has intersected quartz monzonite intrusive with mineralized quartz veining and numerous fault zones. All drill holes have contained observations of visible gold.
Figure 2: Plan map of northern portion of the Clear Creek Intrusive Complex (CCIC) showing the 2025 drilling in the Blackjack, Saddle and Eiger zones.
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Figure 3: Plan map of the Rhosgobel intrusion showing the 2025 drilling.
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Figure 4: Examples of visible gold observed at Rhosgobel in DDRCRG-25-004
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Table 2: Summary of significant assay results from this release
*Intervals are drilled core length, as insufficient drilling has been completed at this time to determine true widths
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Figure 5: Regional map of the RC Gold Project located in the western portion of Yukon's prolific Tombstone Gold Belt.
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Figure 6: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in an area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work in 2025.
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Quality Assurance/Quality Control
On receipt from the drill site, the HTW/NTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Sitka's core logging facility. Sample lengths as small as 0.3 m were used to isolate features of interest, otherwise a default 2 m downhole sample length was used. Each sample is identified by a unique sample tag number which is placed in the bag containing the core to be assayed. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently) collected for analysis and one-half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Sitka personnel at regular intervals into the sample stream. Bagged samples were placed in secure bins to ensure integrity during transport. They were delivered by Sitka personnel or a contract expeditor to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analyses completed in North Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory analysis. Samples were crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. One-thousand-gram splits were pulverized to over 85 per cent passing below 75 microns. Gold determinations are by fire assay with an inductively coupled plasma mass spectroscopy (ICP-AES) finish on 50 g subsamples of the prepared pulp (ALS code: Au-ICP-22). Any sample returning over 10 g/t gold was re-analyzed by fire assay with a gravimetric finish on a 50 g subsample (ALS code: Au-GRA21). In addition, a 51-element analysis was performed on a 0.5 g subsample of the prepared pulps by an aqua regia digestion followed by an inductively coupled plasma mass spectroscopy (ICP-MS) finish (ALS code: ME-MS41).
About the flagship RC Gold Project
Sitka's 100% owned RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold in 39,962,000 tonnes grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold in 34,603,000 tonnes grading 0.94 g/t in an inferred category at Blackjack and 440,000 ounces of gold in 27,362,000 tonnes grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled "Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory", prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ (http://www.sedarplus.ca) and on the Company's website (www.sitkagoldcorp.com).
Both of these deposits begin at surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022).
As of the end of 2024, the Company has drilled 72 diamond drill holes into this system for a total of approximately 25,136 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 metres of 1.34 g/t gold including 124.8 metres of 2.01 g/t gold and 55.0 metres of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024). Results from DDRCCC-25-075, completed during winter drilling in 2025, produced the best high-grade intercepts drilled to date at Blackjack, returning 352.8 metres of 1.55 g/t gold including 108.9 metres of 3.27 g/t gold and 45.0 metres of 4.52 g/t gold (see news release dated April 22, 2025).
A planned 30,000 metre diamond drilling program for 2025 is currently underway at RC Gold.
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(4) and the Valley Deposit, with a current Measured and Indicated Mineral Resource of 7.94 million oz gold at 1.21 g/t and an additional Inferred Mineral Resource of 0.89 million oz at 0.62 g/t gold(5), and the Raven deposit with an inferred mineral resource of 1.1 million oz (19.96 million tonnes at 1.67 g/t gold)(6).
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads...
(2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_202...
(3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022...
(4) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/bany...
(5)https://snowlinegold.com/2025/05/15/snowline-gold-...
(6) Jutras, M. 2022. Technical Report on the Raven Mineral Deposit, Mayo Mining District Yukon Territory, Canada, prepared for Victoria Gold Corp and filed on SEDAR (www.sedarplus.ca) with an effective date of September 15, 2022
The Company is also pleased to announce that it has completed the acquisition of the OGI Property, Yukon and the Burro Creek Property, Arizona pursuant to an option amending agreement with Fox Exploration Ltd. and Coelton Ventures Ltd., respectively. The Company now has a 100% interest in the OGI and Burro Creek properties subject to underlying royalties. For further information on the option amending agreements related to the Burro Creek Project and OGI Property, please refer to the Company's news release dated June 2, 2025.
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- Take Stock - Calgary, AB : July 2 - 3, 2025
- Yukon Mining Alliance Property Tours - Dawson City, Yukon: July 11 - 14, 2025
- Precious Metals Summit, Beaver Creek, Colorado: September 9 - 12, 2025
- Yukon Geoscience Forum, Whitehorse, YT: November 16 - 19, 2025
- Swiss Mining Institute, Zürich, Switzerland: November 19 - 22, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut, all of which are 100% owned by the Company.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com
The scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, P.Geo., V.P. Exploration of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, 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 of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the results of the Company's anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
TSXV:SIG
Sitka Deepens Winter Drill Hole and Intersects 65.0 Metres of 2.00 g/t Gold, Including 6.3 Metres of 5.53 g/t Gold; Mobilizes Fourth Drill Rig to the Rhosgobel Target at Its RC Gold Project, Yukon
Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce initial assay results from its 2025 summer drill program currently underway at its 100% owned RC Gold Project located in Yukon's prolific Tombstone Gold Belt (see Figure 6). Results received from the extension of DDRCCC-25-076, which was initially completed to a depth of 810.8 metres during winter drilling earlier this year (see news release dated May 8, 2025) and subsequently extended to 944.9 metres, returned 65.0 m of 2.00 g/t gold from 806.0 metres, which includes two higher grade intervals of 8.0 m of 4.80 g/t gold and 6.26 m of 5.53 g/t gold (see Table 1). The Company is also pleased to announce that a fourth drill rig is being mobilized to the Rhosgobel intrusion target where up to 10,000 metres of drilling is proposed to build upon the discovery hole from last year that returned 164.8 metres of 0.82 g/t gold starting 9 metres from surface, including 119.0 metres of 1.05 g/t gold, 37.9 metres of 2.05 g/t gold and 11.5 metres of 4.32 g/t gold (see news release dated November 25, 2025). In addition, the Company is pleased to announce that visible gold has been observed for the first time ever in drill core from the Saddle zone. Three drill rigs are currently turning at the Blackjack, Saddle and Eiger zones (see Figure 6) as part of a fully funded, 30,000 metre drill campaign planned for 2025, with a total of over 6,127 metres within 17 drill holes completed so far this year. Assays are currently pending for DDRCCC-25-077 to DDRCCC-25-091.
- Extension of DDRCCC-25-076 confirms significant gold mineralization continues for over one kilometre from surface at the Blackjack deposit and confirms the potential for an underground mining component to the deposit
- Fourth drill rig mobilizing to the Rhosgobel target where up to 10,000 m of drilling is planned to follow up on discovery drill holes announce last fall
- First ever visible gold observed in drill core from the Saddle zone where drilling is currently testing a possible linkage between the Blackjack and Eiger gold deposits
- 30,000 metre drill program rapidly advancing with 17 holes totalling approximately 6,127 metres completed to date within the Blackjack-Saddle-Eiger area
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"Our decision to re-enter and deepen Hole 76 has yielded some impressive results," said Cor Coe, Director and CEO of Sitka. "As the deepest hole drilled to date, Hole 76 adds to the growing evidence of a potential underground component to the Blackjack gold deposit and demonstrates that intervals of significant gold values persist almost a kilometre deep from where this deposit begins at surface. The higher-grade gold seen at depth in this and other deep drill holes, supports the notion that we could be vectoring towards the potential source of this gold system."
"We are also very excited to be mobilizing our fourth drill rig to the Rhosgobel intrusion where the first two diamond drill holes ever drilled, completed by Sitka last year, resulted in two new discovery holes that returned significant gold intervals starting 9 metres from surface. This target sits within a large 1.5 x 2.0 kilometre gold-in-soil anomaly with historical shallow drill results showcasing significant gold values. Sitka's discovery holes demonstrate that gold mineralization continues to at least 300 metres, suggesting the possibility of a large gold deposit being present in the area."
"Lastly, we are happy to announce the first ever observations of visible gold at the Saddle zone, where drilling is currently ongoing as we investigate the potential of the Saddle zone to link the Blackjack and Eiger gold deposits. We have now confirmed that visible gold is present at the Blackjack, Saddle, Eiger, Josephine, Pukleman and Rhosgobel targets which are all located within the 5 x 12 kms Clear Creek Intrusive Complex area. With up to 10,000 metres of drilling about to begin at Rhosgobel, 5,000 metres of drilling allocated for Pukelman and 15,000 metres of drilling currently underway at the Blackjack-Saddle-Eiger corridor, we are looking forward to a steady flow of results as we further ramp up our fully funded 30,000 metre drill program at RC Gold."
Figure 1: Cross Section of DDRCCC-25-076 demonstrating the continuation of higher-grade gold mineralization at depth in the hole. Gold mineralization continues to the end of the hole at 944.9 metres with 4.9 metres of 0.95 g/t gold reported in metasediments located in the footwall of the lamprophyre dyke.
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Figure 2: Plan map of drilling at the Blackjack Deposit showing the location of hole DDRCCC-25-076 and the location of hole DDRCCC-25-086 where visible gold was observed in drill core for the first time ever at the Saddle Zone.
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BLACKJACK DRILLING
Drill hole DDRCCC-25-076 was drilled to a depth of 810.8 metres during winter drilling to test the deep underground potential of the Blackjack deposit. Winter results from Hole 76 returned 94.0 m of 1.15 g/t gold including 12.2 m of 4.55 g/t gold, and a separate interval of 25.0 m of 5.04 g/t gold, including 1.8 metres of 54.70 g/t gold within 86.4 m of 1.65 g/t gold (see news release dated May 8, 2025). Hole 076 was subsequently extended from 810.8 metres to a depth of 944.9 metres at the start of the summer drilling campaign, to follow up on gold mineralization identified at the bottom of the hole during the winter program. The extended drilling intercepted several examples of visible gold hosted within sheeted quartz veins cutting altered biotite schists and feldspar megacrystic quartz monzonite and returned 65.0 m of 2.00 g/t gold from 806.0 metres, which includes two higher grade intervals of 8.0 m of 4.80 g/t gold and 6.26 m of 5.53 g/t gold (see Table 2). The higher grade gold intersections were hosted within metasediments and intrusive rocks respectively. Gold mineralization was intersected at the end of the hole with 4.9 metres of 0.95 g/t gold from 940.0 metres to 944.9 metres in the footwall metasediments after cutting the lamprophyre dyke, demonstrating the mineralized conduit feeding this gold system continues to depth.
RHOSGOBEL DRILLING
Sitka is pleased to initiate the first large scale diamond drilling of the Rhosgobel intrusion with 10,000 metres of drilling planned on the target. Discovery hole DDRCRG-24-001, the first diamond drill hole ever completed on the Rhosgobel intrusion, returned 164.8 metres of 0.82 g/t gold starting 9 metres from surface, including 119.0 metres of 1.05 g/t gold, 37.9 metres of 2.05 g/t gold and 11.5 metres of 4.32 g/t gold (see Figure 4).
The Rhosgobel intrusion is the largest and southernmost exposed intrusion that forms a part of the Clear Creek Intrusive Complex (the "CCIC"; see Figure 6). The Rhosgobel intrusion is a megacrystic quartz monzonite (MCQM) similar to the Saddle Intrusion that hosts the Blackjack Deposit 5 km to the north.
Previous shallow reverse circulation drilling completed in 1995 identified widespread gold mineralization within a 1.5 by 2.0 kilometre gold-in-soil anomaly within the Rhosgobel intrusion demonstrating the potential of the intrusion to host a near surface gold deposit. No further work was completed on the Rhosgobel intrusion until 2024 when the Sitka completed the first two diamond drill holes ever drilled on the target.
SADDLE ZONE DRILLING
Current drilling has identified the first instance of visible gold at the Saddle Zone in Hole DDRCCC-25-086 ("Hole 86"). The Saddle zone is located midway between the Blackjack and Eiger deposits and is partially within the conceptual pit limit of the Blackjack resource. Drilling at Saddle will expand on previous drill intercepts including 84.0 m of 1.21 g/t gold in DDRCCC-25-054. Hole 86 was drilled at an azimuth of 210o and dip of -50o to a final length of 126.5 metres to test the shallow potential of gold mineralization in this area (see Figure 2). The drill hole intercepted broad areas of hornfels metasediments interlaced with quartz veining, quartz monzonite dykes/sills as well as some minor faults and breccia zones. Several instances of visible gold were noted throughout the hole, in quartz veins in metasedimentary rock (see Figure 5).
Figure 3: Shallow historical reverse-circulation drilling in the Rhosgobel intrusion in 1995 demonstrated significant gold mineralization occurred within a 1.5 by 2.0 km gold in soil anomaly The first ever diamond drill holes completed at Rhosgobel in 2024 (DDRCRG-24-001 and 002) further highlight the potential for this gold system to continue to a depth of at least 300 metres.
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Figure 4: Examples of visible gold observed in DDRCCC-25-086 at the Saddle Zone
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Figure 5: Regional map of the RC Gold Project located in Yukon's prolific Tombstone Gold Belt.
To view an enhanced version of this graphic, please visit:
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Figure 6: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in an area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work in 2025.
To view an enhanced version of this graphic, please visit:
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Quality Assurance/Quality Control
On receipt from the drill site, the HTW/NTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Sitka's core logging facility. Sample lengths as small as 0.3 m were used to isolate features of interest, otherwise a default 2 m downhole sample length was used. Each sample is identified by a unique sample tag number which is placed in the bag containing the core to be assayed. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently) collected for analysis and one-half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Sitka personnel at regular intervals into the sample stream. Bagged samples were placed in secure bins to ensure integrity during transport. They were delivered by Sitka personnel or a contract expeditor to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analyses completed in North Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory analysis. Samples were crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. One-thousand-gram splits were pulverized to over 85 per cent passing below 75 microns. Gold determinations are by fire assay with an inductively coupled plasma mass spectroscopy (ICP-AES) finish on 50 g subsamples of the prepared pulp (ALS code: Au-ICP-22). Any sample returning over 10 g/t gold was re-analyzed by fire assay with a gravimetric finish on a 50 g subsample (ALS code: Au-GRA21). In addition, a 51-element analysis was performed on a 0.5 g subsample of the prepared pulps by an aqua regia digestion followed by an inductively coupled plasma mass spectroscopy (ICP-MS) finish (ALS code: ME-MS41).
About the flagship RC Gold Project
Sitka's 100% owned RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold in 39,962,000 tonnes grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold in 34,603,000 tonnes grading 0.94 g/t in an inferred category at Blackjack and 440,000 ounces of gold in 27,362,000 tonnes grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled "Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory", prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ (http://www.sedarplus.ca) and on the Company's website (www.sitkagoldcorp.com).
Both of these deposits begin at surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022).
As of the end of 2024, the Company has drilled 72 diamond drill holes into this system for a total of approximately 25,136 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 m of 1.34 g/t gold including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024). Results from DDRCCC-25-075, completed during winter drilling in 2025, produced the best high-grade intercepts drilled to date at Blackjack, returning 352.8 m of 1.55 g/t gold including 108.9 m of 3.27 g/t gold and 45.0 m of 4.52 g/t gold (see news release dated April 22, 2025).
A planned 30,000 metre diamond drilling program for 2025 is currently underway at RC Gold.
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(4) and the Valley Deposit, with a current Measured and Indicated Mineral Resource of 7.94 million oz gold at 1.21 g/t and an additional Inferred Mineral Resource of 0.89 million oz at 0.62 g/t gold(5).
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads...
(2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_202...
(3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022...
(4) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/bany...
(5) https://snowlinegold.com/2025/05/15/snowline-gold-...
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- Take Stock - Calgary, AB : July 2 - 3, 2025
- Yukon Mining Alliance Property Tours - Dawson City, Yukon: July 11 - 14, 2025
- Precious Metals Summit, Beaver Creek, Colorado: September 9 - 12, 2025
- Yukon Geoscience Forum, Whitehorse, YT: November 16 - 19, 2025
- Swiss Mining Institute, Zürich, Switzerland: November 19 - 22, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut, all of which are 100% owned by the Company.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com.
The scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, P.Geo., V.P. Exploration of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, 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 of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the results of the Company's anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Sitka Intercepts Multiple Occurrences of Visible Gold in First Drill Holes of the Summer Season at Its RC Gold Project, Yukon
(TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce that multiple instances of visible gold have been observed in the first drill holes of the summer field season its flagship RC Gold Project located in the Tombstone Gold Belt, Yukon. Three drills are currently operating and a fourth drill rig is on site as part of a fully-funded 30,000 metre drill program planned for 2025 at RC Gold. The primary focus of this year's diamond drilling campaign will be to rapidly expand the Blackjack and Eiger gold deposits while advancing several other high-priority gold targets within the Clear Creek Intrusive Complex (see Figures 4 and 5).
- Three diamond drills currently operating and a fourth diamond drill rig on site as part of the fully funded 30,000 metre drilling campaign planned at RC Gold this year, more than doubling the amount of drilling completed by Sitka Gold since work was initiated in 2020
- Additional visible gold observed in Hole 76 after it was re-entered and extended from 810.8 m to 944.9 m, the deepest hole ever drilled at Blackjack
- Visible gold observed in all drill holes completed so far this year
- Drilling is currently focused on expanding the Blackjack and Eiger deposits and exploring the Saddle zone where a linkage between the two deposits is suggested by geological observations and the largest and strongest gold-in-soil anomaly at the RC Gold Project (see Figures 3 and 4)
Several instances of visible gold have been observed in the drill core from DDRCCC-25-076 to 080, which are the first holes to be completed this summer season, with DDRCCC-25-078 and 079 producing the first visible gold ever observed at Eiger (see Figures 1). Assays are currently pending for all drill holes in this release.
"The summer field season at RC Gold is off to a strong start, with three drill rigs already turning and a fourth rig recently mobilized to site," said Cor Coe, Director and CEO of Sitka. "The presence of visible gold in the first holes of the season, including the first-ever observations of visible gold at the Eiger deposit expansion drilling, continue to demonstrate the exceptional gold endowment within the Clear Creek Intrusive Complex. This is the first follow up drilling we have conducted at the Eiger deposit since 2021 and the observations of visible gold in these initial step out holes to the west, towards the Saddle zone and Blackjack deposit, are very encouraging.
"The fully funded, 30,000 metre drill campaign planned for this year will more than double the total drilling completed since we initiated drilling in 2020, marking a major step forward in advancing RC Gold. To date, we've successfully discovered two gold deposits and outlined multiple high-priority targets ready for drill advancement. With this year's planned drilling equivalent to the past five years combined, there will be lots to look forward to as our team pushes to build on that success with additional new discoveries and meaningful expansion of our known deposits, both of which remain open in all directions."
Figure 1: Examples of instances of visible gold observed throughout holes DDRCCC-25-076 to DDRCCC-25-080. Holes 76, 77 and 80 are from the Blackjack and holes 78 and 79 from the Eiger. Note that the red colour is not a mineral but red marker used in core logging. Additional images of visible gold observed in these drill holes can be viewed HERE.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/254144_0e34b09994ab8af2_002full.jpg
Figure 2: Plan map of the Blackjack and Eiger gold deposits showing the location of diamond drill holes DDRCCC-25-076 to -081. Three drill rigs are focused on resource expansion at the Blackjack and Eiger deposits and the first follow-up drilling in the Saddle zone where the largest and strongest gold-in-soil anomaly on the property remains largely undrilled and where DDRCCC-23-054 intersected 84.0 m of 1.21 g/t gold (see news release dated October 30, 2023). Lamprophyre dikes (green lines) define extensional zones including the Blackjack-Saddle-Eiger corridor. Extensional corridors are one of the controls that created pathways for gold-bearing fluids in these mineralized systems.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/254144_0e34b09994ab8af2_003full.jpg
Figure 3: Plan map of the Blackjack and Eiger gold deposits showing gold-in-soil values, the location of diamond drill holes DDRCCC-25-076 to DDRCCC-25-081. Three drill rigs are focused on resource expansion at the Blackjack and Eiger deposits and the first follow-up drilling in the Saddle zone where the largest and strongest gold-in-soil anomaly on the property remains largely undrilled and where DDRCCC-23-054 intersected 84.0 m of 1.21 g/t gold (see news release dated October 30, 2023).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/254144_0e34b09994ab8af2_004full.jpg
Figure 4: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in an area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work in 2025.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/254144_0e34b09994ab8af2_005full.jpg
Figure 5: Long Section showing target areas from the Blackjack deposit to the Rhosgobel target and the proposed drilling allocated as part of the 30,000 metre diamond drilling program planned for 2025.
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Blackjack Drilling
Drilling at Blackjack continues to be directed at expanding the deposit, testing both the deeper underground and the near surface potential where the deposit remains open in all directions. Drill hole DDRCCC-25-076 (azimuth of 037° and dip of -75°) was extended to a depth of 944.9 m, the longest hole completed on the property to date. Visible gold was observed at 859.2 m down the hole within quartz veining in altered metasedimentary rocks. DDRCCC-25-080 (azimuth of 040o and dip of -55o) tested shallower extensions of mineralization and encountered visible gold in several locations from approximately 107 to 220 m depth.
Eiger Drilling
Drill holes DDRCCC-25-078 (azimuth of 345o and dip of -50o) and 079 (azimuth of 345o and dip of -55o) are the first holes completed on the Eiger deposit expansion program. The Eiger deposit has not been drilled since its discovery in 2021. These first two holes were drilled to expand the deposit to the west. Hole 78 encountered strongly altered metasediments with quartz veining and visible gold before being terminated in a fault zone prior to intersecting the Eiger intrusion. Hole 79 was drilled from the same set-up at a steeper angle and successfully penetrated the fault zone which was the faulted contact with the Eiger intrusion. Visible gold was encountered in Hole 79 within sheeted quartz veining within the metasediments and the Eiger intrusion.
Saddle Drilling
Drill hole DDRCCC-25-081 (azimuth of 025o and dip of -50o) is the first drill hole collared in the Saddle zone since the most recent drilling completed in 2023 which intersected 84.0 m of 1.21 g/t gold in Hole 54 and 29.0 m of 0.68 g/t gold in Hole 53. The Saddle zone is midway between the Blackjack and Eiger deposits and is defined by the largest and highest grade gold-in-soil anomaly on the property within an extensional zone containing lamprophyre and quartz monzonite intrusives dikes and sills. Drilling in 2025 is targeted to follow-up on previous drilling and define an initial resource in this area which is within the conceptual pit limits of the Blackjack deposit and explore the linkage between the two deposits. This drill hole collared in metasediments and is planned to a depth of 350.0 m.
About the flagship RC Gold Project
The RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold in 39,962,000 tonnes grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold in 34,603,000 tonnes grading 0.94 g/t in an inferred category at Blackjack and 440,000 ounces of gold in 27,362,000 tonnes grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled "Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory", prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ (http://www.sedarplus.ca) and on the Company's website (www.sitkagoldcorp.com).
Both of these deposits begin at surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022).
To date, 73 diamond drill holes have been drilled into this system by the Company for a total of approximately 25,851 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 m of 1.34 g/t gold including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, Including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024). Results from DDRCCC-25-075, completed during winter drilling in 2025, produced the best high-grade intercepts drilled to date at Blackjack, returning 352.8 m of 1.55 g/t gold including 108.9 m of 3.27 g/t gold and 45.0 m of 4.52 g/t gold.
A planned 30,000 metre diamond drilling program for 2025 is currently underway at RC Gold.
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(4) and the Valley Deposit, with a current Measured and Indicated Mineral Resource of 7.94 million oz gold at 1.21 g/t and an additional Inferred Mineral Resource of 0.89 million oz at 0.62 g/t gold(5).
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads...
(2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_202...
(3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022...
(4) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/bany...
(5) https://snowlinegold.com/2025/05/15/snowline-gold-...
Corporate Update
The Company is pleased to announce that, subject to regulatory approval, it has entered into an amendment agreement for the OGI Property, Yukon. The targets at OGI are an intrusion-related gold deposit such as the Valley, RC Gold and Aurmarc deposits in Yukon and Fort Knox in Alaska and also a SEDEX style, stratabound Zinc-Lead-Silver (Zn-Pb-Ag) deposit, similar to Howards Pass and many other zinc-rich base and precious metal occurrences within Yukon's Selwyn Basin. In consideration for 300,000 shares and $50,000, the required $2,500,000 work expenditures will be eliminated. The Company has spent approximately $550,000 to date on the OGI Property. This amendment will give the Company 100% ownership of the OGI Property, subject to the underlying royalty interest.
The Company is also pleased to announce that, subject to regulatory approval, it has entered into an amendment agreement for the Burro Creek Property, Arizona. The Burro Creek Property covers a low-sulphidation epithermal vein system that hosts gold and silver Indicated and Inferred Historical Mineral Resource estimates. In consideration for 2,000,000 shares and $100,000, the required $4,000,000 work expenditures will be eliminated. The Company has spent approximately $1,200,000 to date on the Burro Creek Property and has a 1,000,000 share payment due in September 2025. This amendment will give the Company 100% ownership of the Burro Creek Property, subject to the underlying royalty interest. This amendment agreement is considered a related-party transaction pursuant to Multilateral Instrument 61-101, as the Vendor is controlled by Cor Coe, the chief executive officer and a director of the Company. This amendment agreement is exempt from the need to obtain minority shareholder approval and a formal valuation as required by and under applicable provisions of MI 61-101.
For more information on the OGI and Burro Creek properties, please visit www.sitkagoldcorp.com
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- Take Stock - Calgary, AB : July 2 - 3, 2025
- Yukon Mining Alliance Property Tours - Dawson City, Yukon: July 11 - 14, 2025
- Precious Metals Summit, Beaver Creek, Colorado: September 9 - 12, 2025
- Yukon Geoscience Forum, Whitehorse, YT: November 16 - 19, 2025
- Swiss Mining Institute, Zürich, Switzerland: November 19 - 22, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with over $24 million in its treasury and no debt. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut, all of which are 100% owned by the Company.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com
The scientific and technical content of this news release has been reviewed and approved by Cor Coe, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, 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 of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the results of the Company's anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Sitka Gold Intersects 108.9 Metres of 3.27 g/t Gold Including 45.0 Metres of 4.52 g/t Gold Within 352.8 Metres of 1.55 g/t Gold at Its RC Gold Project, Yukon
Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce recently received assay results from its ongoing 2025 diamond drilling campaign at its road accessible RC Gold Project ("RC Gold" or the "Project") located approximately 100 km east of Dawson City in Yukon's prolific Tombstone Gold Belt. Results from DDRCCC-25-075 ("Hole 75") returned 352.8 metres of 1.55 g/t gold, including 108.9 metres of 3.27 g/t gold and 45.0 metres of 4.52 g/t gold. Hole 75, which had over 130 instances of visible gold observed during logging of the drill core, was the first of two diamond drill holes completed at RC Gold during this year's winter drilling campaign. DDRCCC-25-076 ("Hole 76"), the second drill hole completed this winter, was drilled to a depth of 810.8 metres, the deepest hole ever drilled at Blackjack, for a total of 1,526.8 metres of diamond drilling completed during the winter drilling campaign. Assays are currently pending for Hole 76 where over 60 instances of visible gold were observed (see Figures 1 and 7).
- DDRCC-25-075 ("Hole 75") delivers best high-grade intercept drilled to date at Blackjack with 352.8 m of 1.55 g/t gold including 108.9 m of 3.27 g/t gold and 45.0 m of 4.52 g/t gold
- Hole 75 is the first diamond drill hole to be completed as part of a fully funded 30,000 m drilling program planned at RC Gold for 2025
- Results from Hole 75 extend the high-grade gold zone discovered late last year in Hole 68
- Assay results from Hole 75 showcase the persistence and continuity of this higher-grade gold zone (see Table 3) with grades that appear to be increasing with depth
- These results further endorse a potential underground mining scenario below Blackjack's existing pit-constrained mineral resources of 1.29 Moz grading 1.01 g/t gold indicated and 1.04 Moz grading 0.94 g/t gold inferred
- Assays are currently pending for DDRCCC-25-076 ("Hole 76") which was drilled to a hole depth of 810.8 m, the deepest hole drilled to date at Blackjack, and had over 60 instances of visible gold observed in the drill core (see Figures 1 and 7).
Table 1: Highlights from most recent assay results
| Hole ID | From (m) | To (m) | Interval (m)* | Gold (g/t) |
| DDRCCC-25-075 | 341.5 | 694.3 | 352.8 | 1.55 |
| including | 501.4 | 610.3 | 108.9 | 3.27 |
| including | 501.4 | 513.0 | 11.6 | 4.44 |
| and | 539.4 | 584.4 | 45.0 | 4.52 |
*Intervals are drilled core length as insufficient drilling has been completed at this time to calculate true widths.
"2025 is off to an excellent start with the first drill hole of the year producing some of the best gold intercepts encountered to date at our RC Gold project," commented Cor Coe, Director and CEO of Sitka Gold. "Initial observations of Hole 75, including numerous instances of visible gold, indicated that we had drilled through an area of strong gold mineralization and this has now been confirmed by these assay results. Hole 75 continues to highlight the quality of the gold system present at the Blackjack deposit while greatly expanding the higher-grade gold zone discovered at depth late last year in Hole 68 which remains open both laterally and to depth. The increasing gold values we are seeing at depth appear to have the grades and continuity required for a possible underground extraction scenario below the current pit constrained resources at Blackjack and suggest that we could be getting closer to the source of the Blackjack gold deposit as we drill deeper into the system.
"These results build on our previous success at Blackjack and show that we have really just started to unlock the potential of this large, contiguous 431 square kilometre gold district where 11 intrusions have been identified on surface to date, all of which have associated intrusion related gold mineralization present and are considered high-priority targets for future exploration. The fact that we have been able to produce a pit-constrained mineral resource estimate of 1.3 million ounces of indicated gold at 1.01 g/t gold and 1.0 million ounces of inferred gold at 0.94 g/t gold at the Blackjack deposit with just 18,799 metres of drilling underscores the potential of the additional 30,000 metres of drilling planned at RC Gold for this year. We are now waiting on the results from hole 76, which again produced multiple instances of visible gold and extended the vertical depth of mineralization at the Blackjack zone to over 700 metres from surface, being the deepest drill hole completed to date at the RC Gold project. 2025 is shaping up as an exciting and pivotal year for Sitka as we push to continue creating shareholder value by rapidly advancing our flagship RC Gold project."
Figure 1: Cross Section for holes DDRCCC-25-075 and DDRCCC-25-076. Hole 75 is approximately a 70 metre step-out from Hole 68 which intersected 93.0 m of 2.57 g/t gold near the bottom of the hole.
To view an enhanced version of this graphic, please visit:
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Figure 2: Plan map of drilling at the Blackjack Deposit showing the location of holes DDRCCC-25-075 (this release), -076 as well as DDRCCC-24-068.
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Figure 3: The Clear Creek Intrusive Complex in the western portion of the RC Gold Project is a cluster of intrusions all with known gold mineralization and numerous current drill target areas highlighted by the magenta hatched areas.
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Figure 4: Longitudinal section of completed drill holes at the Blackjack Zone. Higher-grade mineralization is defined in a southeast plunging mineralized corridor with gold grades increasing at depth, as observed with the increasing prevalence of higher-grade gold results in recently completed drill core (purple colour), and suggests that drilling is vectoring towards the source of this gold system. The pit-constrained mineral resource shell from the 2023 MRE is shown in orange with the added resources from the updated MRE published earlier this year shown in yellow (see news release dated February 26, 2025).
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Figure 5: Examples of drill core from the interval beginning at 539.4 m which contains 45.0 m of 4.52 g/t gold that shows strongly altered and variably textured quartz monzonite. Pink flagging tape marks veins where occurrences of visible gold were noted by Sitka's geological crew.
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Figure 6: Examples of instances of visible gold observed throughout hole DDRCCC-25-075. Visible gold is found in sheeted quartz veins and is often associated with bismuthinite, scheelite, and arsenopyrite. Additional images of visible gold observed in Hole 75 can be viewed HERE.
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Table 2 - Summary of significant drill hole assays from this release
| Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
| DDRCCC-25-075 | 116.3 | 123.0 | 6.7 | 2.21 |
| including | 116.3 | 117.3 | 1.0 | 12.05 |
| and | 341.5 | 694.3 | 352.8 | 1.55 |
| including | 469.5 | 470.5 | 1.0 | 8.22 |
| including | 407.0 | 694.3 | 287.3 | 1.80 |
| including | 486.5 | 487.6 | 1.1 | 7.99 |
| including | 409.5 | 694.3 | 284.8 | 1.82 |
| including | 409.5 | 610.3 | 200.7 | 2.35 |
| including | 501.4 | 610.3 | 108.9 | 3.27 |
| including | 501.4 | 513.0 | 11.6 | 4.44 |
| including | 504.4 | 505.4 | 1.0 | 8.73 |
| including | 539.4 | 584.4 | 45.0 | 4.52 |
| including | 556.4 | 558.0 | 1.6 | 9.71 |
| including | 648.9 | 694.3 | 45.4 | 0.92 |
*Intervals are drilled core length as insufficient drilling has been completed at this time to calculate true widths.
DDRCCC-25-075
Drill hole DDRCCC-25-075 was drilled to a length of 715.97 metres at an azimuth of 037o and a dip of -65o to step out from the high-grade mineralization that returned 93.0 metres of 2.57 g/t gold starting at 589.5 metres in Hole 68 last year and extended gold mineralization at depth approximately 70 metres to the northeast of Hole 68. This drill hole intersected several broad zones of feldspar megacrystic, quartz monzonite cross cutting hornfels biotite schist of the Yuzesyu Formation. These intrusions, and locally the metasediments, are cut by abundant 1-2 centimetre sheeted quartz veins with centimetre scale quartz sericite alteration halos. A significant zone of strongly altered, variable textured quartz monzonite was intersected from ~350 m to 620 metres. Over 130 instances of visible gold were observed in sheeted quartz veins, often associated with bismuthinite, scheelite, and arsenopyrite throughout the interval, consistent with observations of mineral associations in all previous drilling.
Table 3 - Individual assay intervals for the composite 45 metres of 4.52 g/t gold in Hole 75 which demonstrate the continuous and persistent high-grade gold mineralization at depth
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Figure 7: Examples of instances of visible gold observed throughout hole DDRCCC-25-076. Visible gold is found in sheeted quartz veins and is often associated with bismuthinite, scheelite, and arsenopyrite. Additional images of visible gold observed in Hole 76 can be viewed HERE.
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Quality Assurance/Quality Control
On receipt from the drill site, the HTW/NTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Sitka's core logging facility. Sample lengths as small as 0.3 m were used to isolate features of interest, otherwise a default 2 m downhole sample length was used. Each sample is identified by a unique sample tag number which is placed in the bag containing the core to be assayed. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently) collected for analysis and one-half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Sitka personnel at regular intervals into the sample stream. Bagged samples were placed in secure bins to ensure integrity during transport. They were delivered by Sitka personnel or a contract expeditor to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analyses completed in North Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory analysis. Samples were crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. One-thousand-gram splits were pulverized to over 85 per cent passing below 75 microns. Gold determinations are by fire assay with an inductively coupled plasma mass spectroscopy (ICP-AES) finish on 50 g subsamples of the prepared pulp (ALS code: Au-ICP-22). Any sample returning over 10 g/t gold was re-analyzed by fire assay with a gravimetric finish on a 50 g subsample (ALS code: Au-GRA21). In addition, a 51-element analysis was performed on a 0.5 g subsample of the prepared pulps by an aqua regia digestion followed by an inductively coupled plasma mass spectroscopy (ICP-MS) finish (ALS code: ME-MS41).
About the Flagship RC Gold Project
The RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold grading 0.94 g/t gold in an inferred category at Blackjack and 440,000 ounces of gold grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled "Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory", prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ (http://www.sedarplus.ca) and on the Company's website (www.sitkagoldcorp.com).
Both of these deposits begin at surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022).
As of the end of 2024, 72 diamond drill holes have been drilled into this system by the Company for a total of approximately 25,136 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 m of 1.34 g/t gold Including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024).
A planned 30,000 metre diamond drilling program for 2025 is currently underway at RC Gold.
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The Property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t gold (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t gold at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the Florin Gold deposit with a current Inferred Mineral Resource of 170.99 million tonnes grading 0.45 g/t gold (2.47 million ounces; Simpson 2021)(4); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(5) and the Valley Deposit, with a current Indicated Mineral Resource of 4.05 million oz gold at 1.66 g/t gold and an additional Inferred Mineral Resource of 3.26 million oz at 1.25 g/t gold(6). The technical and scientific information disclosed from neighboring properties does not necessarily apply to the current project or property being disclosed.
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads...
(2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_202...
(3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022...
(4) Simpson R. Florin Gold Project NI 43-101 Technical Report. Geosim Services Inc. April 21, 2021. https://sedar.com/GetFile.do?lang=EN&docClass=24&i... d=4984158
(5) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/bany...
(6) Burrell H., Redmond D.J., Haggarty P., Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate, Yukon Territory, Canada. Snowline Gold Corp. May 15, 2024. https://snowlinegold.com
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- 121 Mining Investment - London, England: May 12 - 13, 2025
- Canaccord Global Metals and Mining Conference - Henderson, NV: May 20 - 22, 2025
- Yukon Mining Alliance - Dawson City, Yukon: July 9 - 14, 2025
- Takestock Stampede - Calgary, AB: July 2, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with over $25 million in its treasury and no debt. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com.
The scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, P.Geo., Vice President of Exploration of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-Looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, 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 of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the results of the Company's anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Sitka Intersects Multiple Occurrences of Visible Gold in the First Diamond Drill Hole of 2025 at Its RC Gold Project, Yukon
Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce that it has completed the first diamond drill hole of its 30,000 metre drilling program planned for this year at its 100% owned, road accessible RC Gold Project ("RC Gold" or the "Project") in Yukon. DDRCCC-25-075 ("Hole 75") is the first drill hole to be completed as part of the winter phase of diamond drilling currently underway at RC Gold. Hole 75, one of the deepest holes ever drilled at the Blackjack zone, went to a length of 715.97 metres to test both the lateral and vertical extent of high-grade gold mineralization that was discovered in Hole 68 which was the best drill hole completed at Blackjack to date. Visible gold was observed over 130 times in Hole 75 and initial review of the drill core suggests strong gold mineralization extends at least 70 metres to the northeast from Hole 68.
- DDRCCC-25-075 ("Hole 75") was drilled to a length of 715.97 metres to test depth continuity of Blackjack gold mineralization and encountered over 130 instances of visible gold
- Hole 75 confirms strong gold mineralization extends approximately 70 metres northeast from Hole 68
- Hole 75 is the first hole to be completed as part of Sitka's fully funded 30,000 metre drill program planned for 2025, the largest drill program ever conducted at RC Gold
- DDRCCC-25-076, currently in progress, is designed to test gold mineralization at deeper depths than any previous drilling
Figure 1. Examples of instances of visible gold observed throughout hole DDRCCC-25-075. Visible gold is found in sheeted quartz veins and is often associated with bismuthinite, scheelite, and arsenopyrite. Assays for this drill hole are currently pending. Additional images of visible gold observed in Hole 75 can be viewed HERE.
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"The 2025 drilling campaign at RC Gold is off to a remarkable start with the first drill hole of the year returning a multitude of visual gold occurrences," said Cor Coe, Director and CEO of Sitka Gold Corp. "Hole 75 was located to follow-up on the strong results of Hole 68 which intersected 678.1 m of 1.04 g/t gold including 93.0 m grading 2.57 g/t gold starting at 589.5 metres, the deepest and longest intersection of gold mineralization to date at the Blackjack deposit which remains open in all directions. The increasing grades at depth in Hole 68 suggest that drilling is vectoring towards the source of this impressive gold system and initial observations of Hole 75 confirm that strong gold mineralization persists at least 70 metres northeast of the high-grade intervals returned in Hole 68. We eagerly await the results from Hole 75 which will aid in further understanding the dimensions of the Blackjack zone at depth where higher gold grades may support a potential underground mining operation below the limits of the recently announced pit constrained resource of 1,291,000 ounces of gold grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold grading 0.94 g/t gold in an inferred category at Blackjack(1). DDRCCC-25-076, currently in progress, is now being drilled from the same pad at a steeper angle than Hole 75 and is designed to test the Blackjack zone to even deeper depths than previous drilling."
(1) Simpson R. January 21, 2025. Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory
Figure 2. A plan map of the Blackjack gold deposit showing the location of diamond drill holes DDRCCC-25-075 (yellow trace), DDRCCC-25-076 (green trace - in progress) and proposed holes WBJ25-B and WBJ25-C (blue traces) which are designed to further extend gold mineralization to the northeast.
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Figure 3. A cross section showing the trace of diamond drill hole DDRCCC-25-075 and the location of over 130 occurrences of visible gold (yellow stars) down the hole. Hole 75 intersected mineralized intrusive rock approximately 70 m to the northeast of Hole 68 which crosses this section orthogonally. While the presence of visible gold is a good indicator of robust gold mineralization it is not a requirement for strong gold mineralization to be present, as was the case in DDRCCC-23-047, one of the best drill holes completed to date at Blackjack. While visible gold was only observed once in Hole 47 it returned 219.0 m of 1.34 g/t gold including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11 g/t gold (see news release dated September 26, 2023). The proposed trace for DDRCCCC-25-076, currently in progress, is also shown and is designed to test gold mineralization deeper than any previous drilling.
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DDRCCC-25-075
Drill hole DDRCCC-25-075 was drilled to a length of 715.97 m at an azimuth of 037o and a dip of -65o to test the horizontal continuity of mineralization intersected in hole DDRCCC-24-068 from the 2024 drill campaign. This drill hole intersected several broad zones of feldspar megacrystic, quartz monzonite cross cutting hornfels biotite schist of the Yuzesyu Formation. These intrusions, and locally the metasediments, are cut by abundant 1-2 cm sheeted quartz veins with cm scale quartz sericite alteration halos. A significant zone of strongly altered, variable textured quartz monzonite was intersected from ~350 m to 620 m. Over 130 instances of visible gold were observed in sheeted quartz veins, often associated with bismuthinite, scheelite, and arsenopyrite throughout the interval, consistent with observations of mineral associations in all previous drilling.
Figure 4. Strongly altered and variably textured quartz monzonite from 562.7 m to 571.7 m in Hole 75. Pink flagging tape marks veins where occurrences of visible gold were noted by Sitka's sharp-eyed field crew.
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Figure 5. A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in a relatively small area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work in 2025.
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About the flagship RC Gold Project
The RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold grading 0.94 g/t in an inferred category at Blackjack and 440,000 ounces of gold grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled "Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory", prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ (http://www.sedarplus.ca) and on the Company's website (www.sitkagoldcorp.com).
Both of these deposits begin at surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022).
To date, 73 diamond drill holes have been drilled into this system by the Company for a total of approximately 25,851 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 m of 1.34 g/t gold Including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, Including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024).
A planned 30,000 metre diamond drilling program for 2025 is currently underway at RC Gold.
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the Florin Gold deposit with a current Inferred Mineral Resource of 170.99 million tonnes grading 0.45 g/t (2.47 million ounces; Simpson 2021)(4); the AurMac Project with a in n Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(5) and the Valley Deposit, with a current Indicated Mineral Resource of 4.05 million oz gold at 1.66 g/t and an additional Inferred Mineral Resource of 3.26 million oz at 1.25 g/t gold(6).
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads...
(2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_202...
(3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022...
(4) Simpson R. Florin Gold Project NI 43-101 Technical Report. Geosim Services Inc. April 21, 2021. https://sedar.com/GetFile.do?lang=EN&docClass=24&i... d=4984158
(5) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/bany...
(6) Burrell H., Redmond D.J., Haggarty P., Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate, Yukon Territory, Canada. Snowline Gold Corp. May 15, 2024. https://snowlinegold.com
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- Swiss Mining Institute - Zurich, Switzerland: March 18 - 19, 2025
- 121 Mining Investment - London, England: May 12 - 13, 2025
- Canaccord Global Metals and Mining Conference - Henderson, NV: May 20 - 22, 2025
- Yukon Mining Alliance - Dawson City, Yukon: July 9 - 14, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with over $14 million in its treasury and no debt. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com.
The scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, P.Geo., Vice President of Exploration of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, 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 of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the results of the Company's anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Sitka Prepares for Winter Diamond Drilling Program at Its RC Gold Project, Yukon
Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce that preparations are currently underway for a winter diamond drilling program scheduled to begin this month at its flagship RC Gold Project ("RC Gold" or the "Project"), located in the prolific Tombstone Gold Belt in Yukon. The winter drilling campaign will mark the start of a fully funded 30,000 metre diamond drilling program planned for RC Gold this year.
The Company recently announced an updated mineral resource estimate ("MRE") at RC Gold of 1.3 million ounces of gold indicated and 1.5 million ounces of gold inferred (see news release dated January 21, 2025 and Table 1). The MRE includes updated gold resource estimates at its 100% owned Blackjack deposit comprised of an indicated resource of 1.29 million ounces at a grade of 1.01 g/t gold and an inferred resource of 1.04 million ounces at a grade of 0.94 g/t gold using a 0.30 g/t gold cut-off grade. The primary focus of drilling this year will be to continue upgrading and expanding the Blackjack deposit, which remains open in all directions, and further test gold mineralization within the Clear Creek Intrusive Complex (CCIC), including at the Eiger Deposit, which also remains open in all directions, and at the Saddle, Rhosgobel, Contact and Pukelman targets (see Figures 1 and 2). In late 2024, the Company completed the first ever diamond drill holes at Rhosgobel which significantly increased the depth of known gold mineralization at the target area with gold mineralization now extending from surface to a depth of at least 300 metres. Two holes were completed and returned multiple observations of visible gold and impressive intervals of strong gold mineralization with assays of up to 119.0 m of 1.05 g/t gold including 37.9 m of 2.05 g/t gold and 11.5 m of 4.32 g/t gold (see news release dated November 25, 2024).
"We are very excited to begin preparations for our 2025 diamond drilling program at RC Gold where we plan to get a significant jump on this year's drilling season with a winter drilling program", stated Cor Coe, Director and CEO of Sitka. "Since 2022, and with limited drilling, we have taken RC Gold from an initial discovery hole to a very impressive gold resource that has the potential to grow considerably. With 30,000 metres of drilling planned for 2025, which is more than double the total amount of drilling that we have completed to date at the Project, we are on track to rapidly advance RC Gold this year with significant expansion drilling at the Blackjack and Eiger deposits as well as follow up drilling at the other intrusion-related gold targets within the Clear Creek Intrusive Complex, including the Rhosgobel and Pukelman intrusions where drilling last year confirmed robust gold mineralization is present similar to that observed at the Blackjack deposit."
Figure 1 - Plan map showing the multiple high-priority target areas within the Clear Creek Intrusive Complex. 30,000 metres of drilling is planned in this area for 2025 with a proposed allocation of approximately 15,000 metres across the Blackjack - Eiger target area, 10,000 metres at Rhosgobel - Bear Paw and 5,000 metres at Pukelman.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/239538_5865d4ae54fad868_002full.jpg
Figure 2 - Long Section showing target areas from the Blackjack deposit to the Rhosgobel target and the proposed drilling allocated as part of the 30,000 metre diamond drilling program planned for 2025.
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https://images.newsfilecorp.com/files/6144/239538_sitkafig2.jpg
About the flagship RC Gold Project
The RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources prepared in accordance with National Instrument 43-101 ("NI 43-101") guidelines that are contained in two zones: the Blackjack and Eiger deposits with 1,291,000 ounces of gold grading 1.01 g/t gold in an indicated category and 1,044,000 grading 0.94 g/t in an inferred category at Blackjack and 440,000 ounces grading 0.50 g/t gold in an inferred category at Eiger. Both of these deposits are at/near surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022). The Mineral Resource Estimate is presented in the following table:
Table 1: Current pit-constrained gold resources at the RC Gold Project*
| Deposit | Gold Cut-off (g/t Au) | Mineral Resource Category | Tonnes (000's) | Gold Grade (Au g/t) | Oz Au (000's) |
| Blackjack | 0.30 | Indicated | 39,962 | 1.01 | 1,291 |
| Blackjack | 0.30 | Inferred | 34,603 | 0.94 | 1,044 |
| Eiger | 0.25 | Inferred | 27,362 | 0.50 | 440 |
* For details of the resource estimate please see Company news release dated January 21, 2025.
To date, 72 diamond drill holes have been drilled into this system by the Company for a total of approximately 25,136 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 m of 1.34 g/t gold Including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, Including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024).
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the Florin Gold deposit with a current Inferred Mineral Resource of 170.99 million tonnes grading 0.45 g/t (2.47 million ounces; Simpson 2021)(4); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(5) and the Valley Deposit, with a current Indicated Mineral Resource of 4.05 million oz gold at 1.66 g/t and an additional Inferred Mineral Resource of 3.26 million oz at 1.25 g/t gold(6).
- Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads...
- Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_202...
- Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022...
- Simpson R. Florin Gold Project NI 43-101 Technical Report. Geosim Services Inc. April 21, 2021. https://sedar.com/GetFile.do?lang=EN&docClass=24&i... d=4984158
- Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/bany...
- Burrell H., Redmond D.J., Haggarty P., Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate, Yukon Territory, Canada. Snowline Gold Corp. May 15, 2024. https://snowlinegold.com
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- PDAC - Toronto, ON: March 2 - 5, 2025
- Swiss Mining Institute - Zurich, Switzerland: March 18 - 19, 2025
- 121 Mining Investment - London, England: May 12 - 13, 2025
- Canaccord Global Metals and Mining Conference - Henderson, NV: May 20 - 22, 2025
- Yukon Mining Alliance - Dawson City, Yukon: July 9 - 14, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with approximately $15 million in its treasury and no debt. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com
The scientific and technical content of this news release has been reviewed and approved by Cor Coe, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, 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 of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the results of the Company's anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Lahontan Acquires Strategic Claims South of The York Pit, Expanding The Santa Fe Mine Project
Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF)(FSE:Y2F) (the "Company" or "Lahontan") is pleased to announce that the Company signed a binding term sheet (the "Term Sheet") on August 18, 2025 to acquire 27 unpatented lode mineral claims (the "YorkClaims") from Emergent Metals Corp. ("Emergent"),adding approximately 2.1 km2 of strategic mineral rights to the Santa Fe Mine Project. The claims adjoin the Santa Fe Mine Project immediately south and southeast of the York open pit and gold mineral resource* (please see map below). Resource modeling completed as part of the recent Preliminary Economic Assessment ("PEA") of the Santa Fe Mine Project* demonstrated that gold-silver mineral resources extended in the direction of the York Claims. The acquisition of the York claims will allow the expansion of the York open pit and potentially, a substantial increase of mineral resources in the York area.
Kimberly Ann, Lahontan Gold Corp CEO, Executive Chair, and Founder commented: "Lahontan is very excited to acquire the York Claims that are directly adjacent to the York gold mineral resource*. The newly acquired claims will allow a considerable layback of the York pit during mine planning and in mineral resource estimation. Modeling of gold and silver mineralization at York in the Santa Fe Mine Project PEA was constrained by a pit shell that must honor the property boundary*. With the addition of the York Claims, that pit can be greatly expanded, potentially adding resource ounces plus opening up compelling targets for further gold and silver mineral resource expansion. Coupled with recently completed exploration drilling, the Company continues its path of growing size and scale of the Santa Fe Mine Project and enhancing shareholder value".
Emergent and Lahontan contemplate completing a Definitive Agreement (the "Agreement") within 30 days of signing the Term Sheet. The transaction (the "Transaction") is subject to all necessary approvals, including regulatory approval. Terms of the Transaction include:
- On signing the Term Sheet, Lahontan will pay Emergent's U.S. subsidiary, Golden Arrow Mining Corporation ("GAMC"), a sum of US$10,000.
- On signing the Agreement, Lahontan will issue GAMC a US$50,000 promissory note, with a 1% per month interest rate, and payable within six months of signing the Agreement.
- On signing the Agreement, Lahontan will issue 2,000,000 common shares of Lahontan Gold Corp. to GAMC or its designee.
- On signing of the Agreement, payment of the cash, issuance of the shares, and issuance of the promissory note outlined above, GAMC will facilitate the transfer of the York Claims to Lahontan or its designee, to be completed within 30 days.
- As part of the transfer, Lahontan will grant GAMC a 1% NSR royalty (the "Royalty") on the York Claims. At any time before the third anniversary of the Agreement, Lahontan may purchase the Royalty for US$500,000. After the third and before the seventh anniversary of the Agreement, Lahontan may purchase the Royalty for US$1,000,000. The terms and conditions of the Royalty will be defined in the Agreement.
Regarding scientific data on the York Claims by provided previous claimants, the QP has been unable to verify the information and that the information is not necessarily indicative to the mineralization on the York Claims property that is subject to the disclosure.
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 26.4 km2 Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq(48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*). The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Lindholm was not an author for the Technical Report* and does not take responsibility for the resource calculation but can confirm that the grade and ounces in this press release are the same as those given in the Technical Report. For more information, please visit our website: www.lahontangoldcorp.com
* Please see the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project", Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company's website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions gold price of US$1,950/oz gold, silver price of US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Executive Chair
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, and Executive Chair
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange("TSXV") nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.com
Click here to connect with Lahontan Gold (TSXV:LG,OTCQB:LGCXF) to receive an Investor Presentation
Kobo Resources: Unlocking West Africa’s Untapped Gold Potential
Focused on unlocking West Africa’s untapped mineral potential, Kobo Resources (TSXV:KRI) is advancing its flagship Kossou Gold Project in Côte d’Ivoire. Strategically located next to Perseus Mining’s (TSX:PRU) producing Yaouré Gold Mine, Kossou benefits from access to infrastructure, skilled local labor, and strong logistical advantages.
Kobo’s value proposition rests on a seasoned leadership team and backing from strategic partner Luso Global Mining, part of engineering giant Mota-Engil. Beyond capital, this partnership provides access to world-class mining expertise. With a phased exploration strategy, Kobo is advancing near-term catalysts—including updated technical reports, metallurgical studies, and a 2025 drill campaign aimed at delivering a maiden resource in 2026.
Aerial view of the Kossou gold project in proximity to nearby infrastructure and operators The Kossou Gold Project (KGP) is Kobo Resources’ flagship asset in Côte d’Ivoire, located 40 km from Yamoussoukro and adjacent to Perseus Mining’s producing Yaouré Gold Mine. Covering 110 sq. km within the prolific Birimian greenstone belt, Kossou benefits from excellent infrastructure, logistical advantages, and strong exploration potential in one of West Africa’s fastest-growing mining jurisdictions.
Company Highlights
- Mining-friendly and Underexplored Location – Côte d’Ivoire’s gold production has grown significantly but still trails neighboring countries.
- Prime Location with Infrastructure Advantage – The Kossou Gold Project (KGP) is 40 km from Yamoussoukro and 9.5 km from a major operating gold mine.
- Proven Gold Discoveries with Strike Continuity – 24,471 m drilled at KGP with multiple mineralized zones that remain open along strike and depth.
- Promising Secondary Project – Kotobi gold project offers early-stage exploration upside in a highly prospective greenstone belt.
- Aggressive Growth and Near-term Milestones – +/- 20,000 m 2025 drill program targeting priority zones and advancing toward a potential MRE in 2026 with a strong project pipeline.
- Strong Team and Strategic Backing – Decades of exploration success combined with a strategic partnership with Luso Global Mining (Mota-Engil).
This Kobo Resources profile is part of a paid investor education campaign.*
Click here to connect with Kobo Resources (TSXV:KRI) to receive an Investor Presentation
