Sitka Gold Corp. Closes Oversubscribed $2.1 Million Private Placement
NEWS RELEASE
November 22, 2023
NR 23-32
www.sitkagoldcorp.com
Sitka Gold Corp. Closes Oversubscribed $2.1 Million Private
Placement
VANCOUVER, CANADA – November 22, 2023: Sitka Gold Corp. (“Sitka” or the “Company”)
(CSE:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to announce that the Company has closed its
previously announced non-brokered private placement for total gross proceeds of $2,1 05,059.86 (the
“Offering”) through the issuance of 11,694,777 flow-through units (the “FT Units”) at a price of $0.18
per FT Unit.
Each FT Unit is comprised of one flow-through common share in the capital of the Company and one-
half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles
the holder to purchase an additional common share in the capital of the Company (a "Common Share")
at a price of $0.36 for a period of 24 months from the date of issuance.
The Offering, as announced in the Company’s news release dated November 13, 2023 (“Sitka Gold
Announces up to $1.25M Private Placement”) was oversubscribed due to strong investor demand. The
Company intends to use the net proceeds of the Offering for exploration and r elated programs on the
Company’s Yukon gold properties which qualify as “Canadian Exploration Expenses” as such term is
defined in paragraph (f) of the definition of “Canadian exploration expense” in subsection 66.1(6) of the
Income Tax Act (Canada) (the “ Tax Act ”) and “flow through mining expenditures” as defined in
subsection 127(9) of the Tax Act that will qualify as “flow -through mining expenditures”, which will be
incurred on or before December 31, 2024 and renounced with an effective date no later than December
31, 2023, to the purchasers of FT Units.
In connection with the Offering, the Company issued 692,687 finder’s warrants (the “ Finder’s
Warrants”) and paid commissions of $124,683.59 to certain finders. Each Finder’s Warrant entitles the
holder to purchase an additional Common Share at a price of $0.18 for a period of 24 months from the
date of issuance.
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 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 i ts 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 inferred 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 total of approximately 6500 metres of
additional diamond drilling within 16 drill holes has been completed at RC Gold since the announcement
of the Mineral Resource Estimate.
(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 thi s news release and include without
limitation, statements regarding discussions of future plans, estimates and forecasts and statements
as to management's expectations and intentions with respect to, among other things, the use of the
proceeds raised under the Offering and the Company’s anticipated work programs.
In making the forward- looking statements in this news release, the Company has applied several
material assumptions, including without limitation, that the Company will complete its anticipated work
programs and use the proceeds of the Offering as currently anticipated.
These forward‐looking statements involve numerous risks and uncertainties and actual results might
differ materially from results suggested in any forward -looking statements. Thes e risks and
uncertainties include, among other things, market uncertainty, the results of the Company’s anticipated
work programs and that the Company will not use the proceeds of the Offering as currently 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, esti mated 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 forw ard-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.