Sitka Gold Increases Private Placement to $4.25 Million
NEWS RELEASE
May 26, 2022
NR 22-15
www.sitkagoldcorp.com
Sitka Gold Increases Private Placement to $4.25 Million
VANCOUVER, CANADA – May 26, 2022: Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:
SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce it is increasing it’s previously announced
private placement from up to $3.0 million to up to $4.25 million with a lead order of $2 million from
funds managed by Sprott Asset Management LP. The financing will consist of a combination of flow-
through units priced at $0.17 with a half warrant priced at $0.23 and non flow-through units priced at
$0.14 with a half warrant priced at $0.23. Each full warrant will entitle the holder to purchase an
additional common share at a price of $0.23 for a period of 24 months from the date of closing of the
private placement.
This private placement is being offered on a non-brokered basis and the Units will be subject to a
statutory hold period of four months and a day from the closin g date of the Offering. 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 private placement. The Offering remains
subject to regulatory approval and is anticipated to close on or before June 7th, 2022.
The Company intends to use the net proceeds of the private placement for exploration work on its
Yukon gold properties and for general working capital.
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 m ineral
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.
Sitka is currently conducting a planned 10,000 metre diamond drill program at its RC Gold Project in
the Yukon where the last hole drilled in 2021 (“Hole 21”) resulted in the discovery of a new gold zone
(the “Blackjack Zone”) and returned 220.1 metres averaging 1.17 g/t gold from surface including
50.5 metres of 2.08 g/t gold (see news release dated December 13, 2021). Initial follow-up drill holes
completed during this past winter have confirmed that gold mineralization extends laterally to the west
and to the south and that it is continuous along vertical section (see news releases dated April 26 th,
May 17th and May 18th, 2022). Assays are pending for DDRCCC-22-025, the last drill hole completed
during the winter drilling program that was collared approximately 80 metres to the east of Hole 21,
and the Blackjack Zone remains open in all directions.
The scientific and technical content of this news release has been revie wed 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, please contact:
Cor Coe
CEO & Director
Tel: 604-979-0509
www.sitkagoldcorp.com
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.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the
CSE) accepts responsibility for the adequacy or accuracy of this release. No stock exchange,
securities commission or other regulatory authority has approved or disapproved the information
contained herein.