SIG.V · 2019-04-09 12:00:00

Sitka Gold Corp. Announces $1,650,000 Private Placement

Financings

Sitka Gold Corp.

1500 - 409 Granville Street

Vancouver, BC, V6C 1T2

NEWS RELEASE

CSE: SIG

April 9th, 2019

NR 19-1

www.sitkagoldcorp.com

Sitka Gold Corp. Announces $1,650,000 Private Placement

VANCOUVER, CANADA – April 9th, 2019: Sitka Gold Corp. (CSE: SIG) (the “Company” or

“Sitka”) is proposing a private placement of up to 15 million units (the “Units”) at a price of

$0.11 per unit for gross proceeds of up to $1,650,000 (the “Offering”). Each Unit will consist of

one common share and one-half of one share purchase warrant. Each whole warrant will entitle

the holder to purchase an additional common share at a price of $0.16 for a period of 2 years

from the date of closing of the private placement.

This private placement is being offered on a non-brokered basis in the Provinces of Alberta,

Yukon, British Columbia, Ontario and such other jurisdictions as the Company may determine in

its sole discretion and the Units will be subject to a statutory hold period of four months and a

day from the closing date of the Offering. The Company may pay a finder’s fee in accordance

with the rules and policies of the Canadian Securities Exchange. The Offering remains subject

to regulatory approval.

The Company intends to use the net proceeds of the Offering to conduct drill programs at the

Burro Creek Gold and Alpha Gold properties and for general working capital.

Burro Creek Gold and Alpha Gold Properties

The Burro Creek Gold property is located in Mohave County, Arizona and is situated in an active

mining region that includes Freeport McMoran Copper & Gold Inc.’s neighbouring Bagdad Mine

and Northern Vertex Mining Corp.’s newly operational Moss Gold-Silver Mine. The 750 acre

(303 ha) property is road accessible and is approximately 1.6 km from Interstate Highway 93.

Parallel high-tension power lines run adjacent to the property and water rights have been

secured, providing the project with excellent infrastructure for future development.

The Burro Creek Gold property covers a low-sulphidation epithermal vein system (the “Burro

Vein”) that hosts gold and silver Indicated and Inferred Historical Mineral Resource Estimates

(see news release dated September 21, 2018). The gold and silver mineralization has been

traced for over 1.7 km with vein widths of up to 45 meters and remains open for expansion

along strike near surface and at depth. Results from a Mobile Metal Ion (MMI) soil survey

returned an anomalous gold and silver trace across the basalt cover that is interpreted to be the

buried portion of the Burro Vein over a strike length of approximately 1.0 km (Figure 1). This

anomaly provides immediate drill targets to test the continuity of the Burro Vein and potential to

expand the known Historical Mineral Resource Estimate. Part of the proceeds from the Offering

will be used to drill test this anomaly.

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Soil Sample Gold Results Over Area of

Volcanic Andesite Flow

1.3 km New Drill Target Zone

Approximately 50 Drill Holes Proposed

Location of

Inferred Resource

Location of

Indicated Resource

Approx. Location of

South Vein Outcrop

1.3 km Drill Target

Burro Creek

270500

271000

271500

272000

3825500

3826000

3826500

3827000

3827500

Legend

! 2013 MMI Samples

!.2008 Drill Holes

2013 Soil Lines

! Pre-2008 Drillholes

Creek

Roads

Contours

Burro Vein - outcrop

Patented Claims

Claim Outline

Au Soil Grid ppb

0 80 160 240 32040

Meters

T ext

Figure 1: MMI Soil Sampling Anomaly

The Alpha Gold property is located in Nevada’s prolific Carlin district and is situated where the

Garden Valley Anticline intersects with the projection of the 50-Million-Ounce Cortez-Gold trend

(Figure 2). Of primary importance at the Alpha Gold location is that the rocks have 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 (20 Moz),

Cortez Hills (15 Moz), and Goldrush (15 Moz) deposits along the Cortez trend (Figure 3).

Furthermore, anomalous gold has previously been identified within the late Devonian

carbonates of the Garden Valley Anticline. McEwen Mining Inc.’s nearby Gold Bar gold mine,

located on a parallel anticlinal trend, recently went into production. Part of the proceeds from the

Offering will be used to drill test the defined targets at Alpha Gold.

Figure 3: Alpha Gold Property Location

Figure 2: Alpha Gold Property Regional Geology

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 and copper mineral

properties of merit. Sitka currently has an option to acquire a 100% interest in the Adobe Gold

property in Nevada, 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 the Alpha

Gold property in Nevada. Directors and Management own approximately 36% of the

outstanding shares of Sitka Gold, a solid indication of their alignment with shareholder’s

interests.

ON BEHALF OF THE BOARD OF DIRECTORS OF

SITKA GOLD CORP.

“Donald Penner”

President and Director

For more information contact:

Donald Penner

President & Director

[email protected]

Cor Coe

CEO & Director

604-817-4753

[email protected]

Peter MacLean

Director

604-781-8513

[email protected]

The technical content of this news release has been reviewed and approved by Donald Penner,

P.Geo, Director and President for the Company, and a Qualified Person as defined by National

Instrument 43-101.

Cautionary and Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within

the meaning of applicable securities laws. These statements relate to future events or future

performance. All statements other than statements of historical fact may be forward -looking

statements or information. Forward-looking statements and information are often, but not

always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”,

“estimate”, “approximate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”,

“intend”, “could”, “might”, “should”, “believe”, “would” and similar expressions.

Forward-looking statements and information are provided for the purpose of providing

information about the current expectations and plans of management of the Company relating to

the future. Readers are cautioned that reliance on such statements and information may not be

appropriate for other purposes, such as making investment decisions. Since forward-looking

statements and information address future events and conditions, by their very nature they

involve inherent risks and uncertainties. Actual results could differ materially from those

currently anticipated due to a number of factors and risks. These include, but are not limited to,

the expected timing and terms of the private placement, use of proceeds, anticipated work

program, required approvals in connection with the work program and the ability to obtain such

approvals. Accordingly, readers should not place undue reliance on the forward -looking

statements, timelines and information contained in this news release. Readers are cautioned

that the foregoing list of factors is not exhaustive.

The forward-looking statements and information contained in this news release are made as of

the date of this news release and no undertaking is given to update publicly or revise any

forward-looking statements or information, whether as a result of new information, future events

or otherwise, unless so required by applicable securities laws or the CSE. The forward-looking

statements or information contained in this news release are expressly qualified by this

cautionary statement.

The CSE has in no way passed upon the merits of the proposed transaction and has neither

approved nor disapproved of the contents of this press release.

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