Sitka GOLD Announces Plan to Spin-Out Its Nevada and Arizona GOLD and Silver Assets to Focus ON Advancing Its New Multi-Million Ounce GOLD Discovery at Its Flagship Rc GOLD Project in Yukon
NEWS RELEASE
March 12, 2026
NR 26-08
www.sitkagoldcorp.com
SITKA GOLD ANNOUNCES PLAN TO SPIN-OUT ITS NEVADA
AND ARIZONA GOLD AND SILVER ASSETS TO FOCUS ON
ADVANCING ITS NEW MULTI-MILLION OUNCE GOLD
DISCOVERY AT ITS FLAGSHIP RC GOLD PROJECT IN YUKON
Vancouver, Canada, March 12, 2026: The Board of Directors of Sitka Gold Corp. (TSX -V: SIG)
(FSE:1RF) (OTCQB:SITKF) (“Sitka” or “Sitka Gold” or the “Company”) is pleased to announce it
has initiated plans to spin -out (the "Spin-Out") its Alpha Gold property located in Nevada and its Burro
Creek Gold-Silver property located in Arizona into a new discovery -focused exploration company to be
named at a later date (“Newco”).
The primary objective of the proposed Spin-Out is to allow Sitka Gold’s management team to maintain a
clear and singular focus on advancing its flagship RC Gold Project (“RC Gold”) in Yukon, while
establishing a separate, dedicated management team to unlock the value of the Company’s Nevada and
Arizona gold and silver assets. The Board believes that each asset group requires distinct technical,
operational and strategic focus, and that separating them into two independent companies will enhance
execution an d allow for rapid advancement and value creation for shareholders by enabling each
company to pursue its respective strategy with dedicated leadership, capital allocation and technical
focus.
“The RC Gold Project has reached a stage where it warrants our full and undivided attention as we aim
to rapidly advance the project through continued resource expansion and technical studies, ” said Cor
Coe, Director and CEO of Sitka Gold. “ At the same time, our Nevada and Arizona assets represent
compelling exploration opportunities that merits a dedicated management team with a clear mandate to
move them forward and unlock the value of those very prospective properties. The proposed Spin-Out is
intended to create two focused companies, each with the leadership, capital structure and strategic clarity
required to maximize value for shareholders.”
The Company intends to complete the Spin-Out by way of a Plan of Arrangement ("POA") and apply for
the listing of Newco on the TSX Venture Exchange or the Canadian Securities Exchange ("Exchange").
Full details of the Spin -Out, including anticipated capita lization structure and exchange ratio for Sitka
Gold shareholders to receive shares of Newco, will be outlined in the POA that will be described, once
finalized, in a subsequent news release and in a management information circular to be distributed to
Sitka Gold shareholders in the coming weeks.
The proposed Spin -Out will provide existing Sitka shareholders with exposure to a new exploration
company with a solid foundation of exciting mineral assets with several permitted and drill ready targets.
While Newco will operate independently, Sitka inten ds to maintain a close association with Newco,
leveraging the strengths and experience of our corporate and technical teams.
● The proposed POA is subject to shareholder, court and Exchange approval. The Company
expects to present the matter to shareholders at a special meeting that will be announced in due
course. The Company anticipates that the Spin-Out and listing of Newco will be completed shortly
thereafter.
● Readers are cautioned that the reorganization plan described herein is a statement of
intention only at this point and there can be no assurance that the Spin -Out will occur, or that it
will occur in the manner and timeline described in this press release.
● Sitka intends to spin -out Newco with sufficient funds in its treasury for immediate needs
and working capital, but Newco may consider completing a private financing to raise capital for
future work programs.
● Once the Spin -Out is completed, Newco intends to complete proposed exploration
programs as outlined in the 2025 Technical Reports on the Alpha Gold Project, Nevada and Burro
Creek Project, Arizona which are available on the Sitka Gold website
(https://sitkagoldcorp.com/investors/technical-reports/).
RC Gold Project Highlights (Yukon)
● Current mineral resources: 1.3 Moz gold Indicated (39,962,000 tonnes @ 1.01 g/t gold) and
3.8 Moz gold Inferred (167,423,000 @ 0.72 g/t gold)*.
● Fully funded, 60,000 m diamond drilling program currently underway
● Large, road accessible, district-scale gold system 100% owned by Sitka: 431 km²
contiguous land package in Yukon’s Tombstone Gold Belt, much of which remains under-
explored.
● Rapidly advancing: growing from an early-stage concept in 2020 with limited drilling to a major
gold discovery with several gold deposits now confirmed.
● ~60,000 metres of diamond drilling completed by Sitka to date, primarily within the 8 km × 5
km Clear Creek Intrusive Complex (CCIC).
● Three near-surface gold deposits discovered to date by Sitka, all starting at surface and
remaining open in all directions; multiple targets show potential to become additional deposits.
● 11 intrusions identified to date across the property have all been shown to host Reduced
Intrusion-Related Gold System (RIRGS) mineralization.
● Strong potential to significantly expand existing gold deposits and discover new
deposits.
● Multiple targets returning strong >100 gram-metre gold intersections from initial drilling,
demonstrating strong potential to host additional gold deposits.
● Significant tungsten values present within the Rhosgobel gold deposit*
● Recent drilling highlights:
○ Rhosgobel: 235.9 m of 1.11 g/t Au from surface (including 10.0 m of 5.29 g/t Au).
○ Contact Zone: 119.0 m of 1.01 g/t Au from surface (including 1.2 m of 24.8 g/t Au).
○ Blackjack: 678.0 m of 1.04 g/t Au from surface (including 93.0 m of 2.37 g/t Au and 5.5
m of 17.59 g/t Au)*
* see Company news release dated February 25, 2026
Alpha Gold Project Highlights (Nevada)
● Under-explored project located in a prolific jurisdiction and 100% owned by Sitka Gold.
● Positioned along the southeast projection of the Cortez Gold Trend, one of Nevada’s most
productive gold belts, ~40 km southeast of the Barrick/Newmont Cortez Mine.
● New Carlin-type gold system discovered by Sitka, open at depth and long strike
● Current modelling suggests a 7.5 km NNW anticline target trend located on the Property,
providing the ideal framework for the discovery of a large -scale, multi-million ounce, Carlin-type
gold deposit at a minable depth
● Limited drilling and follow-up completed as focus and resources turned to the RC Gold Project
● Excellent access, located just 2 km west of Nevada State Highway 278
Burro Creek Project Highlights (Arizona)
● 100% owned by Sitka Gold, located in mining-friendly Mohave County in Arizona.
● Property includes 4 patented claims and 35 lode claims covering ~287 hectares in the Greenwood
Mining District.
● Excellent infrastructure access, located ~1.6 km west of Highway 93 with nearby roads and
power.
Extensive exploration history dating back more than 200 years, with modern exploration programs
conducted between 1981–1988, 2008–2013, and 2019–2020.
● 2008 drilling program: 33 holes totaling 2,565 metres targeting potential open -pit gold
mineralization.
● Historical mineral resource estimate(1) (2011):
○ Indicated: 2.33 Mt grading 1.01 g/t Au and 36.77 g/t Ag (122,491 oz Au).
○ Inferred: 2.25 Mt grading 0.60 g/t Au and 30.95 g/t Ag (81,304 oz Au).
About the Nevada and Arizona Projects
Alpha Gold Project, Nevada
Sitka Gold holds a 100% interest in the Alpha Gold Project, located along the southeast projection of the
prolific Cortez Gold Trend in Eureka County, approximately 135 kilometres (km) southwest of Elko,
Nevada and 40 km south -east of the Barrick/Newmont C ortez Mine. The Project comprises 239
contiguous claims covering an area of approximately 4,780 acres and is accessible via a dirt road,
approximately 2 km west of Nevada State Highway 278.
Figure 1: Regional map showing the location of the Alpha Gold project along the Cortez Trend in Nevada.
The project is located approximately 40km southeast of the Barrick/Newmont Cortez Mine.
The Alpha Gold Project was acquired as part of an exploration program focusing on regional fold trends
in Nevada’s Carlin -type gold province. Fold trends are the largest, most persistent and predictable
structural features associated with Carlin -type depos its. Most of Nevada’s major Carlin -type districts
occur where regional fold trends intersect, producing complex folding, doming and widespread structural
preparation. More recent Nevada discoveries, such as Cortez Hills and Goldrush have involved minimally
eroded to completely blind targets with much more distal geochemical indications. Geology has become
an important factor in assessing and targeting these weak geochemical anomalies.
The Project was staked after the location was recognized as the intersection of the regional -scale Pine
Valley anticline with northeasterly fold trends exposed in the Roberts Mountains. Of primary importance
at the Alpha Gold location is that the rocks hav e been down -dropped significantly by late extensional
faulting. Prior to extension, and during the critical 36 – 42 Ma Carlin-type mineralization event the fold
crest at Alpha Gold would have been a regional highpoint among nearby mountain ranges. This is an
ideal scenario for producing and preserving a Carlin-type gold deposit and is exactly what happened at
the Pipeline Cortez Hills and Goldrush gold deposits in the Cortez district. Well exposed ‘lower plate
windows’ near Alpha Gold have been extensively explored for Carlin-type gold deposits with a number
of smaller deposits found along the limbs.
Sitka has completed five drill programs since 2020 completing 5,144 metres in 15 widely spaced drill
holes targeting the uppermost of two prospective stratigraphic packages that host the mineralization in
the deposits to the north. Carlin style mineralization and alteration has been intersected in all drilling with
highlights including 1.21 g/t gold over 21.3m including 4.62 g/t gold over 1.5m in hole AG22-10 (4).
Figure 2: Plan map showing drill hole locations and highlight intercepts from Sitka’s past drilling programs
which discovered strong alteration and mineralization consistent with known Carlin -type gold deposits.
The current geologic model that suggests the targeted hingeline zone is the most probable location to
host peak gold grades within this system. This model should be broa dly applicable along the entire 7.5
km NNW anticline target trend located on the Property, providing the ideal framework for the di scovery
of a large-scale, multi-million ounce, Carlin-type gold deposit at a minable depth.
Table 1: Selected Drill Highlights from Alpha Gold Project
Hole # From (metres) Length (metres) Gold (g/t)
AG21-05 118.8 12.2 0.41
AG21-07 62.5 103.6 0.12
including 196.6 3.05 0.41
AG21-08 333.8 15.24 0.46
including 344.4 3.05 1.10
AG22-09 125.0 10.7 0.51
AG22-10 211.8 21.3 1.21
Including 225.6 1.5 4.62
Burro Creek Silver-Gold Project, Arizona
Sitka holds a 100% interest in the Burro Creek Gold Project located 105 km by road southeast of
Kingman, Arizona, in southeastern Mohave County, approximately 265 km southeast of Las Vegas,
Nevada and 200 km northwest of Phoenix, Arizona. The claims comprising the Burro Creek Gold Project
are contiguous and include four centrally located patented mineral claims and 35 located lode claims
which collectively cover an area of approximately 287 hectares in the Greenwood Mining District, Arizona.
Accessible via a 1.6 km dirt road west of Highway 93, the Burro Creek Project benefits from easy access
roads and power networks.
This Project has a long history of exploration dating back to the time of the Spaniards more than 200
years ago. More recent exploration was carried out between 1981 – 1988, 2008 – 2013 and 2019-2020.
In 2008 a 33-hole, 2,565 m drilling program was designed to confirm and update historical results on the
Burro Deposit with the potential for extraction by open pit.
A historical resource estimate was completed in 2011 based on drilling of 87 reverse circulation and
diamond drill holes and samples from 9 adits, for a total of 6,667 m and 2,682 assays. The Burro deposit
contains an historical mineral resource estimate with an historical indicated resource of 2,331,871 tonnes
grading 1.01 g/t Au and 36.77 g/t Ag (yielding 122,491 ounces at a 1.63 g/t Au equivalent) and an