Sitka Gold Provides Update on its North American Gold, Silver and Copper Assets

NEWS RELEASE

March 14, 2024

NR 24-06

www.sitkagoldcorp.com

Sitka Gold Provides Update on its North American Gold,

Silver and Copper Assets

VANCOUVER, CANADA – March 14, 2024: Sitka Gold Corp. (“Sitka” or the “Company”)

(TSX-V:SIG) (FSE:1RF) (OTCQB:SITKF ) is pleased to provide project updates for its portfolio of Gold,

Silver and Copper properties located in proven, mining friendly jurisdictions in North America (see

Figure 1).

Sitka’s project portfolio includes the RC Gold project (“RC Gold”) and OGI project (“OGI”) located in

Yukon, the Alpha Gold project (“Alpha Gold”) located in Nevada, the Burro Creek project (“Burro

Creek”) located in Arizona and the Coppermine River project (“Coppermine River”) located in Nunavut.

Sitka’s projects vary from grassroots and discovery stage properties to advanced stage projects that

include the recent discovery of a significant gold deposit at its RC Gold project which is open for

expansion in all directions. The Company’s primary focus for 2024 is on its flagship RC Gold project

where an initial inferred gold resource of 1.34 million ounces of gold(1) was recently announced and a

winter diamond drilling program focused on expansion of this resource is currently underway. Results

from drilling at the Alpha Gold Project in Nevada have been received and key permits have also

recently been secured to allow for drilling at the Burro Creek project in Arizona and the Coppermine

River project in Nunavut.

Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with

approximately $7.5 million in the treasury. The company recently began trading on the TSX Venture

Exchange (TSX-V) and delisted from the Canadian Securities Exchange (CSE).

Figure 1: Location map of Sitka Gold’s mineral properties

“Since its inception, Sitka’s goal was to curate a portfolio of highly prospective mineral properties that

would provide diversification across key target minerals and mining friendly jurisdictions”, said Cor Coe,

Director and CEO of Sitka. “Having accomplished that, Sitka spent the past several years

systematically advancing these properties through varying stages of exploration. The results of these

efforts have led to multiple discoveries and milestones, the most recent being the advancement of RC

Gold from a discovery hole to an initial mineral resource estimate of 1.34 million ounces of gold within

just 12 months. With our main focus on growing that resource towards critical mass while exploring the

several additional drill ready targets at RC Gold ripe for discovery, we are also excited to continue our

exploration efforts at Alpha Gold where we have discovered a large Carlin-type gold system that has

the potential to host a significant gold resource similar to other other deposits along the Cortez-trend

where over 50 million ounces of gold has been discovered to date. With drill permits now in hand for

Coppermine River and Burro Creek, along with a treasury of approximately $7.5 million, Sitka is well

positioned to further unlock the potential within its mineral portfolio and create additional shareholder

value.”

RC Gold, Yukon

The Company is currently conducting a winter diamond drilling program at its year-round road

accessible RC Gold Project in Yukon as part of a 15,000 metre diamond drilling program planned for

2024. Recently drilled core from DDRCCC-24-057 where drilling is currently underway can be viewed in

Figure 4. Current drilling is focused on stepping out from Hole 47 that was drilled in 2023 south of the

current Blackjack gold deposit (900,000 ounces of gold at a grade of 0.83 g/t; see news release dated

January 19, 2023). Hole 47 contained the best gold mineralized intersection to date on the property,

returning 219.0 m of 1.34 g/t gold including 124.8 m of 2.01 g/t gold and 55.0m of 3.11 g/t gold .

Drilling in 2024 will continue to focus on expanding the recently discovered Blackjack and Eiger gold

deposits (with Eiger hosting 440,000 ounces of gold at a grade of 0.50 g/t, see news release dated

January 19, 2023) that are approximately 1.5 kilometres apart (see Figures 2 and 3). Drilling will also

be targeted to expand the Saddle Zone, located midway between the Blackjack and Eiger deposits,

where the largest and strongest gold-in-soil anomaly on the property is located (see Figures 2 and 3)

along with other prospective areas within the 386 square kilometre contiguous property that hosts 9

known intrusions that are all known to be gold bearing from previous work.

Figure 2: 3D rendering of the Blackjack and Eiger gold deposits. These deposits remain open in

all directions, are approximately 1.5 km apart and have the potential to be linked together as

they appear to emanate from a common intrusive source at depth. 2023 drilling intersected gold

mineralization outside of the current resource outlined in yellow.

Figure 3: Plan map of the Northern Extent of the Clear Creek Intrusive Complex where several

drill intervals and surface samples have demonstrated the high-grade nature of the Reduced

Intrusion Related Gold System present. Yellow stars indicate where outcrop rock samples or

drill hole intervals have returned >10 g/t gold. Several additional targets with the potential to

host intrusion related gold deposits of significant size and grade have yet to be drilled within

this approximately 3 km x 5 km area. The Saddle Zone target area remains largely untested by

drilling and contains the largest and strongest gold-in-soil anomaly on the property.

Figure 4: Drill core from hole DDRCCC-24-057 where drilling is currently underway. This is the

first drill hole of the 15,000 metre diamond drill program planned for 2024 at RC Gold. Pictured

is megacrystic feldspar quartz monzonite cut by sheeted quartz-arsenopyrite veining.

The project is located a two hour drive east of Dawson City and is accessed via the Klondike Highway

and a network of industrial roads that service placer mines in the area. The RC Gold Property is located

within the Tombstone Gold Belt (TGB) which is host to two producing mines, Kinross’s Fort Knox Mine

in Alaska and Victoria Gold’s Eagle Mine in Yukon located approximately 50 kilometres east of RC

Gold. The TGB has produced several significant new gold discoveries in recent exploration including

the Blackjack and Eiger deposits at Sitka’s RC Gold Project, Snowline Gold’s Valley Gold deposit

discovery, Banyan Gold’s Aurmac deposit discovery and Victoria Gold’s Raven deposit discovery.

Alpha Gold, Nevada

The Alpha Gold property lies 40 km SSE of Nevada Gold Mines’ Cortez complex, including the

Pipeline, Cortez Hills and Goldrush tier one gold deposits and is located at the southeast end of the

Cortez trend (Figure 5). Four holes totaling 1027.3 m were drilled in the 2023 program at Alpha (see

Figure 6). The 2023 drilling and previous drilling produced broad gold intervals with abundant Carlin

pathfinder elements in strong Carlin-type alteration in all drill holes (see Table 1).

Figure 5: Alpha Gold Property Location. The Alpha project was staked after discovering the

Alpha anticline on projection and parallel to the Cortez trend with felsic dikes and Carlin-type

alteration and pathfinders on the surface along its axis. Analogous anticlines are important

controls in the Pipeline, Cortez Hills, and Goldrush/Fourmile gold mines at the NNW end of the

Cortez trend.

The 2023 drilling and previous widely spaced drilling demonstrate that gold mineralization appears

continuous along the 2.5 km segment of the Alpha anticline with encouraging evidence of higher-grade

zones. An additional 4.5 km segment of the Alpha anticline continuing SSE to Frazier Creek remains

untested by drilling. Four initial surface rock chip samples at Frazier Creek returned up to 0.775 g/t

gold, greatly surpassing all surface gold from the Alpha NW area highlighting the potential of this area..

Drilling and geologic modelling continues to support a large Carlin-type gold system with extremely

prospective untested targets and excellent potential for discovery of a high-grade core zone.

Table 1 – Alpha NW Drill Results greater than 0.2 g/t gold 2021 to 2023. Wide spaced drilling at

Alpha has continued to intersect broad gold intervals.

HOLE ID FROM (m) LENGTH (m)* GOLD (g/t) COMMENTS

AG23-13 117.3 4.57 0.34 This release

AG23-13 135.6 6.10 0.29 This release

AG23-14 350.5 9.14 0.50 This release

incl AG23-14 353.6 3.05 0.82 This release

AG23-15 96.0 19.81 0.41 This release

incl AG23-15 100.6 7.62 0.55 This release

AG23-16 143.3 28.96 0.38 This release

incl AG23-16 160.0 10.67 0.49 This release

AG21-02 89.9 3.05 0.25 May 6, 2021 News Release

AG21-02 155.4 6.10 0.24 May 6, 2021 News Release

AG21-03 65.5 1.52 0.25 May 6, 2021 News Release

AG21-03 83.8 4.57 0.28 May 6, 2021 News Release

AG21-03 190.5 1.52 0.36 May 6, 2021 News Release

AG21-04* <0.2 Sep 26, 2021 News Release

AG21-05** 118.9 12.19 0.41 Sep 26, 2021 News Release

AG21-06* <0.2 Nov 16, 2021 News Release

AG21-07 62.5 4.57 0.28 Nov 16, 2021 News Release

AG21-07 111.5 4.57 0.34 Nov 16, 2021 News Release

AG21-07 125.0 6.10 0.27 Nov 16, 2021 News Release

AG21-07 149.4 3.05 0.29 Nov 16, 2021 News Release

AG21-08 262.1 1.52 0.44 Nov 16, 2021 News Release

AG21-08 333.8 3.05 0.38 Nov 16, 2021 News Release

AG21-08 339.9 9.14 0.60 Nov 16, 2021 News Release

incl AG21-08 344.4 3.05 1.10 Nov 16, 2021 News Release

AG21-08 364.2 3.05 0.41 Nov 16, 2021 News Release

AG22-09 115.82 3.05 0.30 Oct 6, 2022 News Release

AG22-09 137.2 15.24 0.42 Oct 6, 2022 News Release

AG22-09 149.4 6.10 0.23 Oct 6, 2022 News Release

AG22-10 202.7 3.05 0.27 Oct 6, 2022 News Release

AG22-10 210.3 48.77 0.70 Oct 6, 2022 News Release

incl AG22-10 211.8 21.34 1.21 Oct 6, 2022 News Release

incl AG22-10 225.6 1.52 4.62 Oct 6, 2022 News Release

AG22-11 483.1 12.19 0.50 Feb 22, 2023 News Release

AG22-11 483.1 1.52 2.32 Feb 22, 2023 News Release

AG22-12*** <0.2 Feb 22, 2023 News Release

*Hole located off anticline axis; ** Lost hole in mineralization; ***Lost hole above target

*Intervals are drilled core length, as insufficient drilling has been completed at this time to determine true widths

The 2023 drilling at Alpha greatly advanced the definition of structural controls to mineralization along

the Alpha anticline and highlighted prime areas for targeting the deeper increasingly prospective

Wenban 5 correlative host. Sitka has completed 5143.5 m of drilling in 15 holes since 2021 on the

northwest end of the 7 km Alpha anticline. A longitudinal section of the 2.5 km segment where the

drilling has occurred is shown in Figure 7 with gold and in Figure 8 with arsenic. The Alpha anticline

lies in a down-dropped area east of a lower plate window as Goldrush does. All drilling at the Alpha

project has occurred in the northwest portion of the project, except AG20-01. Drilling near the Alpha

anticline axis has yielded significant gold intercepts, so far testing only the shallow Horse Canyon host

stratigraphy. The Horse Canyon is the uppermost of two important carbonate rock units that are host to

gold deposits in the Cortez Trend, the deeper carbonate rock unit is the Wenban 5.