Sitka Drills 180.0 Metres of 1.04 G/T GOLD Within 305.2 Metres of 0.78 G/T GOLD at Its Rc GOLD Project, Yukon

NEWS RELEASE

November 30, 2022

NR 22-30

www.sitkagoldcorp.com

SITKA DRILLS 180.0 METRES OF 1.04 G/T GOLD WITHIN

305.2 METRES OF 0.78 G/T GOLD AT ITS RC GOLD

PROJECT, YUKON

VANCOUVER, CANADA – November 30, 2022: Sitka Gold Corp. (“Sitka” or the

“Company”) (CSE:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to release assay results for

two additional diamond drill holes completed as part of the Company’s Phase II summer 2022

drilling program at its road accessible 376 square kilometre RC Gold Project (“RC Gold” or the

“Project”), located in the Yukon’s Tombstone Gold Belt (“TGB”). Sixteen diamond drill holes

were completed totaling 5,250 metres (m) during the Phase II drilling program, with assays

previously released for the first eleven holes (see Company news releases dated September

7, 2022 and November 18, 2022) and an additional three holes still pending assay results.

Gold assay highlights from this release:

● 401.5 m of 0.63 g/t Au from 73.0 m in DDRCCC-22-038, including

305.2 m of 0.78 g/t Au from 79.8 m depth, and including

180.0 m of 1.04 g/t Au from 176.0 m depth.

Cor Coe, P.Geo., Director and CEO of Sitka Gold Corp. commented, “Step out drilling at the

Blackjack zone continues to deliver very impressive results with these latest drill holes

demonstrating the persistence of attractive gold grades within this recently discovered gold

zone. Diamond drill hole 38 (DDRCCC -22-038 or “Hole 38”) was collared 175 metres (m)

southeast of the Blackjack zone discovery Hole 21 (DDRCCC -21-021 or “Hole 21”) and

intersected 180 m of 1.04 g/t gold, demonstrating the continuity of higher grades (>1 g/t gold)

within the Blackjack zone as we step out from Hole 21, which intersected 220.1m of 1.17 g/t

gold from surface (see news release dated December 17, 2021). Hole 38 was the furthest

step out to the SE from Hole 21 completed to date. In addition to the higher grade core, the

entire mineralized section of Hole 38 graded 0.63 g/t gold over 401.5 m which is comparable

to the 0.63 g/t gold resource (2) at Victoria Gold’s producing Eagle Gold Mine, an Intrusion

Related Gold Deposit (IRGD) in the Tombstone Gold Belt (TGB) which is an analog to our

Blackjack target. Hole 38 was drilled on the same section as DDRCCC -22-025 (see Figures

1 and 2) which intersected 221.0 m of 1.01 g/t gold while the entire mineralized section of

Hole 25 graded 0.71 g/t gold over 349.0 m (see news release dated June 13, 2022). Several

instances of visible gold were noted throughout Hole 38, and structural measurements taken

from these visible gold sections and other well mineralized sections of the Hole corroborates

the Company’s existing geologic modelling that indicates the st eeply-dipping east -west

sheeted quartz veining as hosting the bulk of the gold mineralization. The gold mineralization

in Hole 38 was the deepest intersection to date within the Blackjack zone and has increased

the vertical extent of known mineralization to 545 m.

“Step-out drilling continues to add to the potential scale and grade of the Blackjack gold zone

that remains open both laterally and to depth. Assays are still pending for the final two holes

drilled in 2022 in the Blackjack zone (DDRCCC -22-039 and -040) which intersected sheeted

quartz veining within intrusive rocks and had visible gold in their core. We expect these

pending drill holes will further expand this exciting new gold zone which is located within a

large gold-in-soil anomaly of >100 ppb to > 500 ppb that is approximately 2 km long (Figure

3) where drilling to date has demonstrated the potential to host a continuous zone of gold

mineralization across its length. While we await the pending assays, the Company is eagerly

planning the next phase of drilling at RC Gold to follow up on these impressive results as we

work toward building tonnage and determining the parameters of this gold rich zone”.

Table 1 - Analytical Results for DDRCCC-22-037 & DDRCCC-22-038

Drillhole ID Azimuth (°) Dip (°) Length (m) From (m) To (m) Interval (m)* Au (g/t)

DDRCCC-22-037 125 -50 305.0 186.0 223.5 37.5 0.68

and 13.0 23.2 10.2 0.60

within 13.0 269.0 256.0 0.23

DDRCCC-22-038 315 -50 545.0 73.0 474.5 401.5 0.63

including 79.8 385 305.2 0.78

including 156.0 385 229.0 0.95

including 176.0 356.0 180.0 1.04

*Intervals are drilled core length, as insufficient drilling has been undertaken to determine true widths at this time

Figure 1 - Plan Map of Diamond Drill Holes at the Blackjack Zone

Drillhole DDRCCC-22-037 was collared near the northwest extent of the Blackjack zone and

drilled at an azimuth of 125 degrees to the southeast. The hole encountered metasedimentary

country rock for the majority of its 305.0 m length punctuated with short zones of multiphase

intrusive dyke and sill swarms which were generally associated with the higher gold grades.

The hole was highly anomalous in gold, returning 256.0 metres averaging 0.23 g/t gold from

13.0 metres depth.

Figure 2 - Cross Section of Hole DDRCCC-22-038

Drillhole DDRCCC -22-038 (“Hole 38”) was drilled as a step -back hole on -section with

DDRCCC-22-025 which as previously reported intersected 349.0 metres at 0.71 g/t gold (see

Company news release dated June 13, 2022). Hole 38 collared in metasedimentary ro cks

before transitioning into multiphase intrusive dikes and sills at 153 metres depth to 492.9

metres depth. The entire mineralized section of Hole 38 graded 0.63 g/t gold over 401.5 m

including 180 m of 1.04 g/t gold . Abundant instances of visible gold were noted throughout

the hole, and structural measurements taken from these and other well mineralized sections

of Hole 38 corroborates the Company’s existing geologic modelling that indicates the steeply-

dipping east-west sheeted quartz veining as hosting the bulk of the gold mineralization.

Figure 3 - Plan Map of Drilling Across Blackjack-Saddle-Eiger Zone Area at RC Gold

The second phase of drilling was designed to further expand the Blackjack Zone and provide

Sitka geologists with a solid database of drilling data to understand controls on mineralization

observed in both intrusive and metasedimentary host rocks while also potentially providing the

necessary spatial density to generate an initial resource estimate. Assay results from Phase

II drilling along with structural information obtained from oriented drilling, data from detailed

core logging, reprocessed Lidar data and interpretation of an airborne magnetic geophysical

survey will form the basis for planning of a Phase III drilling program.

Table 2 - Previously Released Blackjack Zone Drill Results

Hole ID Azimuth (O) Dip (O) Length (m) From (m) To (m) Interval (m) Au (g/t)

DDRCCC-20-002 200 -60 296.0 9.0 296.0 287.0 0.52

including 156.4 257.1 100.8 0.82

DDRCCC-21-007 208 -58 353.4 18.0 336.0 318.0 0.45

including 262.0 294.0 32.0 1.24

DDRCCC-21-

021(“Hole 21”)

320 -45 367.5 6.0 226.1 220.1 1.17

including 120.0 170.5 50.5 2.08

DDRCCC-22-022 320 -45 364.6 46.0 319.0 273.0 0.52

including 253.0 315.0 62.0 1.21

DDRCCC-22-023 320 -61.5 285.0 4.2 210.0 205.8 1.01

including 46.0 137.0 91.0 1.61

DDRCCC-22-024 277 -47 204 4.5 112.0 107.5 1.44

including 16.0 82.0 66.0 2.11

DDRCCC-22-025 320 -46 389.2 19.0 368 349.0 0.71

including 25.0 246.0 221.0 1.01

DDRCCC-22-026 140 -45 374 152.0 194.0 42.0 0.43

including 167.0 184.1 17.1 0.64

DDRCCC-22-027 320 -55 209 6.0 18.0 12.0 0.83

and 131.0 145.0 14.0 1.49

DDRCCC-22-028 320 -50 254 6.0 28.0 22.0 0.69

and 185.6 198.0 12.4 0.76

DDRCCC-22-029 320 -50 308 7.0 143.0 136.0 0.58

including 35.0 37.0 2.0 9.02

DDRCCC-22-030 320 -50 398 1.4 221.0 219.6 0.74