Sitka Completes Initial Phase of Drilling at Burro Creek Gold/Silver Property
NEWS RELEASE
March 26th, 2020
NR 20-08
www.sitkagoldcorp.com
Sitka Completes Initial Phase of Drilling at Burro Creek Gold/Silver
Property
VANCOUVER, CANADA – March 26th, 2020: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:
SIG) (FSE: 1RF) announces that it has completed the first phase of drilling at its Burro Creek
Gold/Silver Property in Arizona. The program was successful in tracing the mineralized structure to
the southern boundary of the patented claims. 10 holes were drilled for a total of approximately 1000m
and assays have been released for the first six holes (see news releases dated January 17, 2020
titled “Sitka Gold Intersects 11.70 Metres of 3.23 g/t Gold and 72.86 g/t Silver in Initial Drilling at Burro
Creek Gold/Silver Property, Arizona” and February 20, 2020 titled “Sitka Gold drills 28.17 Metres of
1.01 g/t Gold and 10.91 g/t Silver in Step Out Drilling at its Burro Creek Gold/Silver Property,
Arizona”). Results for the remaining holes are pending and will be released once they have been
received and compiled. The next phase of drilling will continue to test the southern extension of
mineralization beyond the private patented claims on BLM lode claims. The process to obtain permits
to drill on the BLM claims is currenlty underway with archaeological and biological field assessments
having been completed and additional permitting tasks ongoing.
Sitka also announces that it has closed its non-brokered private placement (the “Private Placement”)
announced on February 11, 2020 and amended March 12, 2020 for total gross proceeds of
$130,160 through the issuance of 1,084,665 units (the “Units”) at a price of $0.12 per Unit. The
Company intends to use the net proceeds of the Priv ate Placement for exploration work on its
Arizona, Nevada and Yukon gold properties and for general working capital.
The Company also announces that since the beginning of the year a total of 1,425,000 warrants have
been exercised for total proceeds of $215,000.
In response to the impacts of the Covid-19 pandemic, including unprecedented travel restrictions and
workplace closures, Sitka has temporarily suspended its plans to mobilize a drill and crew to the
Alpha Gold property in order to protect the health and safety of employees and communities. Sitka will
abide by direction given by Government and health officials as the effects of the Covid-19 outbreak
are monitored and control measures are determined. Drilling permits for the Alpha Project remain in
place and Sitka will continue with exploration plans as soon as practicable.
Donald Penner, President & Director of Sitka comments: “The economic turmoil of this global health
pandemic is being felt across all sectors including mineral exploration. While suspending our near
term drilling plans is unfortunate, we feel it is the prudent and responsible course of action given the
circumstances. It is our view that the fundamentals for precious metals will continue to strengthen and
Sitka, with its portfolio of quality gold and silver assets, will be well positioned as an attractive junior
explorer once this global crisis subsides.”
About Sitka Gold Corp.
Sitka Gold Corp. is a mineral exploration company headquartered in Canada and managed by a
team of experienced mining industry professionals. The Company 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
Gold property in the Yukon, an option to acquire a 100% interest in the Burro Creek Gold
property in Arizona and owns a 100% interest in its Coppermine River project in Nunavut and its
Alpha Gold property in Nevada. Directors and Management own approximately 25% of the
outstanding shares of Sitka Gold.
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
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