News release
NEWS RELEASE
November 13, 2023
NR 23-31
www.sitkagoldcorp.com
Sitka Gold Announces up to $1.25M Private Placement
VANCOUVER, CANADA – November 13, 2023: Sitka Gold Corp. (“Sitka” or the “Company”)
(CSE:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to announce a non-brokered private placement
(the “Offering”) of flow-through units (“FT Units”) at a price of $0.18 per FT Unit, for aggregate gross
proceeds of up to $1,250,000.
Each FT Unit will consist of one flow-through common share in capital of the corporation and one-half
of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle
the holder thereof to purchase one non-flow-through Common Share (a "Common Share") at a price
of $0.36 per Common Share for a period of 24 months from the date of issuance.
The securities offered pursuant to Offering will be subject to a statutory hold period of four months
and a day from the date of issuance. The Company may pay a finder’s fee on a portion of the gross
proceeds of the Offering. The Offering remains subject to regulatory approval and the approval of the
Canadian Securities Exchange (“CSE”).
The Company intends to use the net proceeds of the Offering for exploration and related programs on
the Company’s Yukon gold properties which qualify as “Canadian Exploration Expenses” as such
term is defined in paragraph (f) of the definition of “Canadian exploration expense” in subsection
66.1(6) of the Income Tax Act (Canada) (the “Tax Act”) and “flow through mining expenditures” as
defined in subsection 127(9) of the Tax Act that will qualify as “flow-through mining expenditures”,
which will be incurred on or before December 31, 2024 and renounced with an effective date no later
than December 31, 2023, to the purchasers of FT Units.
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 currently has an option to acquire a 100% interest in the RC, Barney Ridge,
Clear Creek and OGI properties in the Yukon and the Burro Creek Gold property in Arizona. Sitka
owns a 100% interest in its Alpha Gold property in Nevada, its Mahtin Gold property in the Yukon and
its Coppermine River project in Nunavut.
The Company recently announced an NI 43-101 compliant initial inferred Mineral Resource
Estimate of 1,340,000 ounces of gold(1) beginning at surface and grading 0.68 g/t at its RC Gold
Project in Yukon (see news release dated January 19, 2023). A total of approximately 6500 metres of
additional diamond drilling within 16 drill holes has been completed at RC Gold since the
announcement of the Mineral Resource Estimate with results still pending for 2 drill holes that were
completed in mid-September of this year.
The Company is also currently drilling at its Alpha Gold Property in Nevada (see news release
dated November 8, 2023). Having recently discovered a new Carlin-type gold system at Alpha,
the Company is now focused on vectoring towards the high-grade core of this system, which is
located on the Cortez Trend just 40 km southeast of the Cortez Mine Complex of
Barrick/Newmont.
(1)
Simpson, R. January 19, 2023. Clear Creek Property, RC Gold Project, NI 43-101 Technical Report, Dawson Mining District,
Yukon Territory
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
or
Cor Coe
CEO & Director
604-817-4753
Cautionary and Forward-Looking Statements
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy
or accuracy of this release.
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: the terms of the Offering and the anticipated use of proceeds of the
Offering. Accordingly, readers should not place undue reliance on the forward-looking statements and
information contained in this news release. Readers are cautioned that the foregoing list of factors is
not exhaustive.
In making the forward-looking statements in this news release, the Company has applied certain
material assumptions, including without limitation, that: the Company will complete the Offering and
the Company will use the proceeds of the Offering as currently anticipated.
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, that: the Company will not receive the required regulatory
approvals or approval from the CSE in connection with the Offering and that the Company will not use
the proceeds of the Offering as currently anticipated.
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.