Sitka Gold Corp. Announces up to $1.2M Private Placement
NEWS RELEASE
July 14, 2023
NR 23-18
www.sitkagoldcorp.com
Sitka Gold Corp. Announces up to $1.2M Private Placement
VANCOUVER, CANADA – July 14, 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 $0.11 per FT Unit, for aggregate gross
proceeds of up to $1.2M.
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 $0.15 per Common Share for a period of 24 months from the date of issuance.
The securities offered pursuant to the Offering will be subject to a statutory hold period of four
months and a day from the date of issuance. Sitka has engaged Canaccord Genuity Corp. to act
as its financial advisor for the Offering. 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 work on its RC Gold
Project in Yukon.
About Sitka Gold Corp.
Sitka Gold Corp. is a 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 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 resource expansion diamond drilling program is
currently underway.
The Company is also planning additional drilling at its Alpha Gold Property in Nevada where a new
Carlin-type gold system was recently discovered. The Company is 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, the anticipated use of proceeds of the
Offering and drilling plans. 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, use
the proceeds of the Offering as currently anticipated and carry out its drilling and expansion plans as
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, that the Company will not use the
proceeds of the Offering as currently anticipated and that expansion and drilling does not progress as
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.