Sitka Gold Completes Acquisition of 100% Interest in the Clear Creek Property at Its RC Gold Project, Yukon

Vancouver, British Columbia--(Newsfile Corp. - August 20, 2026) - Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQX: SITKF) ("Sitka" or the "Company") is pleased to announce that it has completed its previously announced accelerated acquisition of a 100% interest in the Clear Creek Property from the Receiver of Victoria Gold Corp., following the granting of an approval and vesting order by the Ontario Superior Court of Justice (Commercial List) on August 18, 2026. This transaction completes Sitka's acquisition of all of the properties comprising the contiguous 447-square-kilometre RC Gold Project in Yukon, consolidating the Company's 100% ownership of the project. Please see the Company's July 28, 2026 news release for additional details.

"We are very pleased to announce that the accelerated acquisition of the Clear Creek Property is now complete," stated Cor Coe, Director and CEO of Sitka Gold. "The Clear Creek Property has become a key component of the consolidated land package comprising the RC Gold Project and, with 100% ownership of this project now secured, Sitka is well positioned to advance this district-scale gold discovery where three significant gold deposits have been found to date and several other targets have demonstrated the potential to host additional gold inventories. The Clear Creek Property is integral to the district as it encompasses the Rhosgobel Deposit and the Pukelman-Contact and Bear Paw Breccia targets, which are currently being drilled. With seven drill rigs currently turning across multiple targets, including five drills on the Clear Creek Property, we look forward to a steady stream of results in the weeks ahead as we continue the largest drill program ever conducted at the RC Gold Project."

Figure 1: Plan Map showing the outline of the Clear Creek Property and the locations of several of the intrusion targets and the current gold resources within the Clear Creek Intrusive Complex. A 60,000 metre diamond drilling program planned for 2026 will focus on further expansion of the 2 km long Blackjack-Eiger area with 15,000 metres of drilling. An additional 30,000 metres of drilling is planned at Rhosgobel to follow up on the initial diamond drilling conducted by Sitka in 2025. 10,000 metres of drilling has been allocated for the Pukelman-Contact zone and 5,000 metres of drilling will follow up on initial drilling results from Bear Paw and test other high-priority targets.

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RC Gold Project Update
The 2026 drill program at the RC Project continues to successfully intersect broad zones of Reduced Intrusion-Related Gold (RIRG) mineralization at the Blackjack, Eiger, and Rhosgobel deposits and continues to expand and define the known gold mineralization at each area. Highlights to date include: Drill hole DDRCCC-26-132, which intersected 218.6 metres of 1.25 g/t gold, including 44.4 metres of 3.86 g/t gold, and returned a second, separate interval of 92.7 metres of 1.14 g/t gold (see press release dated August 10, 2026) and drill hole DDRCCC-26-128 which intersected 348.0 metres of 1.12 g/t gold, including 164.0 metres of 1.83 g/t gold, 45.0 metres of 3.49 g/t gold, 2.0 metres of 15.35 g/t gold and 2.0 metres of 13.65 g/t gold (see press release dated July 13, 2026) at Blackjack. The program will continue to define these broad zones of mineralization as well as target new zones of previously defined mineralization such as the Pukelman-Contact zones, Saddle zone and Bear Paw Breccia zone. To date this year, approximately 37,000 metres of drilling and 76 drill holes have been completed across the deposits as part of a planned 60,000 metre drill program for 2026.

About the RC Gold Project
Sitka's 100% owned, flagship RC Gold Project consists of a 447 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 two hour drive from Dawson City. It is one of the largest consolidated land packages strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.

The RC Gold Project hosts an indicated MRE of 1,291,000 ounces of gold and an inferred MRE of 3,829,000 ounces of gold (see Table A below) hosted within three at-surface, road-accessible pit constrained deposits. The 60,000 metre drill program planned for 2026 is focused on expanding all three known deposits in addition to testing other high potential targets in close proximity to the current resources.

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* Notes for Blackjack Resources:

1. Mineral resource estimate prepared by Ronald G. Simpson of GeoSim Services Inc. with an effective date of January 21, 2025.
2. Mineral Resources are estimated consistent with CIM Definition Standards and reported in accordance with NI 43-101.
3. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
4. Mineral resources are constrained by an optimized pit shell using the following assumptions: US$2000/oz Au price; a 45° pit slope; assumed metallurgical recovery of 85%; mining costs of US$2.00 per tonne; processing costs of US$10.00 per tonne; G&A of US$4.00/t.
5. The base case cut-off of 0.3 g/t Au is believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing.
6. Totals may not sum due to rounding.

** Notes for Rhosgobel and Eiger Resources: 

1. Mineral resource estimate prepared by Ronald G. Simpson of GeoSim Services Inc. with an effective date of February 25, 2026
2. Mineral Resources are estimated consistent with CIM Definition Standards and reported in accordance with NI 43-101.
3. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
4. Mineral resources are constrained by an optimized pit shell using the following assumptions: US$3000/oz Au price; a 45° pit slope; assumed metallurgical recovery of 85%; mining costs of US$2.50 per tonne; processing costs of US$14.00 per tonne; G&A of US$4.00/t.
5. The base case cut-off of 0.3 g/t Au is based on a gold price of US$2500/oz and believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing.
6. Totals may not sum due to rounding.

All of these deposits begin at surface and are potentially open pit minable. Initial bottle roll metallurgical testing confirmed the non-refractory characteristics of the gold mineralization and returned gold extraction rates averaging around 85% for the Blackjack and Eiger deposits. Further metallurgical testwork in 2024 for Blackjack and Eiger returned recoveries ranging from 77.6 to 93% for gravity followed by cyanidation. Initial bottle roll testing for Rhosgobel has confirmed non-refractory characteristics of the gold mineralization with two composite samples returning gold recoveries of 89% and 96%. Additional metallurgical testing at Rhosgobel has returned an average gold recovery of 94.3% using conventional whole ore cyanidation leaching and an initial recovery of 84.7% tungsten in rougher concentrate using conventional flotation. Metallurgical testing for potential silver recovery has not yet been completed.

For the purposes of the current resource model, it is assumed that a likely mill flowsheet would consist of a gravimetric, flotation, and cyanidation circuit.

Upcoming Events
Sitka will be attending and/or presenting at the following events*:

• Precious Metals Summit: Beaver Creek, Colorado: September 22 - 25, 2026
• Denver Gold Show: Colorado Springs, Denver: September 27 - 30, 2026
• Nordic Funds and Mines: Stockholm, Sweden: October 15 - 16, 2026
• Yukon Geoscience Forum: Whitehorse, Yukon: November 16 - 19, 2026

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, 447 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company has also announced plans to spin-out the Alpha Gold Project in Nevada and the Burro Creek Gold and Silver Project in Arizona into a new discovery-focused exploration company to be named at a later date.

A 60,000 metre diamond drilling program planned for 2026 is currently underway at the Company's flagship RC Gold Project, located in Yukon, Canada, where seven diamond drill rigs are currently operating.

*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com.

All 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.

"Cor Coe"

CEO and Director

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 future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to the Company's work programs, including the diamond drilling program and the potential for expansion of additional deposits.

All forward-looking statements are based on the Company's current beliefs, as well as various assumptions made by it and information currently available to it, including assumptions that the Company will continue to carry out its work program as currently planned. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

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, risks related to exploration activities and the results of the Company's anticipated work programs, risks relating to mineral resource estimates, commodity price and capital market risks, changes in general economic and mining industry conditions, and the other risks described in the Company's public disclosure record. 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. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310570

Source: Sitka Gold Corp.