Sitka GOLD Provides Year End Review and Exploration Plans FOR 2022
NEWS RELEASE
January 13, 2022
NR 22-02
www.sitkagoldcorp.com
SITKA GOLD PROVIDES YEAR END REVIEW AND EXPLORATION PLANS FOR 2022
VANCOUVER, CANADA – January 13, 2021: Sitka Gold Corp. (“Sitka” or the “Company”)
(CSE:SIG) (FSE:1RF) (OTCQB:SITKF) is pleased to provide a summary of progress and
accomplishments made over the past 12 months of activity and an overview of planned exploration
programs for 2022 at its RC Gold and OGI Projects in Yukon, Alpha Gold Property in Nevada, Burro
Creek Property in Arizona and Coppermine River Project in Nunavut.
It was a breakthrough year for Sitka with new discoveries at both the RC Gold Project in the Yukon and
the Alpha Gold Project in Nevada. At RC Gold, the last drill hole of the year (DDRCCC21-021 or “Hole
21") intersected 21 sections of significant visible gold mineralization which, when final assays were
received, defined a newly discovered high-grade gold zone averaging 1.17 g/t gold from surface to a
depth of 220.1 m including a 50 m interval of 2.08 g/t gold (see news release dated December 13,
2021). The exceptional results from Hole 21 reflect what appears to be a structurally controlled, high-
grade gold corridor that is trending through the large, intrusion related gold system that was discovered
during Sitka’s inaugural drill program conducted at RC Gold in 2020.
At the Alpha Gold Project in Nevada, drill hole AG21-02 encountered significant gold values in a new
discovery associated with very strong alteration and Carlin-Type pathfinder elements. The alteration
footprint of this newly discovered Carlin-type gold system extends at surface across an area of
approximately 5 km x 500 m in a southerly direction from AG21-02. Subsequent follow-up drilling
progressively produced better gold results with hole AG21-05 averaging 0.4 g/t gold over 12.19 m (see
news release dated Sept 16, 2021) and the last hole of the year, AG21-08, returning 15.24 m of 0.46
g/t gold, including 3.05 m of 1.10 g/t gold and 1.53 m of 1.24 g/t gold (see news release dated November
16, 2021). The Horse Canyon equivalent/Devil’s Gate target at Alpha Gold is relatively shallow, allowing
for very cost efficient exploration as the Company continues to vector towards higher-grade gold zones
in search for large Carlin-Type gold deposits.
The Following is a Recap and Highlights of 2021 Exploration:
• On January 15th Sitka began trading on the OTCQB Venture Market with Ticker Symbol
SITKF.
• On January 20th, Sitka received assay results from its RAB drilling program at its OGI
Property east of Dawson City, YT. OGI-RAB-20-004 returned assays of 5430 ppm Zn and
11.6 ppm Ag over 3 m (see news release dated Jan 20, 2021). A follow-up Gravity survey
was conducted in late summer for target definition. The Company is awaiting the final report
on the survey.
• On February 12th the Company announced a $4.5 million non-brokered financing at 13.5
cents per Flow-Thru unit with half warrant exercisable at 18 cents with a 3 year term. A 12
cent non Flow-Thru unit was also issued with a full warrant exercisable at 18 cents. This
financing was increased to $6 million due to heightened interest and was still
oversubscribed, closing on March 5th at $6.4 million.
• Drilling started at Alpha Gold on February 16th. Both holes AG21-02 & 03 penetrated the
Horse Canyon equivalent/Devil’s gate contact in strong Carlin -Type mineralization and
alteration. AG21-02 averaged 0.105 g/t gold over 93 m and a higher grade interval within
averaged 0.164 g/t over 27 m. This prompted the Company to stake an additional 30 claims
to cover prospective ground. Gold values in both holes were associated with very strong
Carlin-Type pathfinder elements of Arsenic, Antimony, Mercury and Thalium.
• Drilling began on June 8th at the RC Gold Project in the Yukon to expand on the previous
years’ success highlighted by the 0.82 g/t gold assay over 100.8 m in hole DDRCCC20-02
(see news release dated Nov 23, 2020)
• The third phase of drilling began on July 8th at Alpha Gold. AG21-04 to 08 were drilled to
follow up on Carlin-Type mineralization and alteration encountered in AG21-02 & 03. All
holes continued to return significant Carlin-Type gold and pathfinder elements. AG21-05
intersected 12.19 m of 0.41 g/t gold before the hole was abandoned due to downhole
instability (see news release dated Sept 16, 2021). Hole AG21-08 intersected 0.46 g/t gold
over 15.24 m (see news release dated Nov 16, 2021). Sitka then staked an additional 125
claims in November to cover highly prospective ground, bringing the total land holdings at
Alpha Gold to 239 claims covering approximately 1934 hectares (4780 acres).
• Beginning in mid-August, assays for the RC Gold Project began trickling in for the remainder
of the year for holes DDRCCC21-07 to 15 and DDRCCC21-21 (results are pending for holes
DDRCCC21-016 to -020). Holes DDRCCC21-07 intersected 318 m of 0.45 g/t gold
(including 92 m of 0.61 g/t) at the Saddle Zone. Holes DDRCCC21-09 to 15 were drilled at
the Eiger Zone 2 km to the east. These holes demonstrate that there is a significant zone of
gold mineralization trending east-west that likely reflects the very strong 2 km x 500 m gold-
in-soil geochemical anomaly interpreted as the surface signature of a very large intrusion-
related gold system. Drill assay highlights from the Eiger Zone include 0.41 g/t gold over
354 m in DDRCCC21-09; 0.40 g/t gold over 402.5 m and 0.61 g/t gold over 82 m (see 2021
news releases dated August 19, September 22, October 21 and December 13).
• Drill hole DDRCCC21-21 (Hole 21) represents a significant new discovery approximately
200 m south of any previous drilling at the Saddle Zone. Assays averaged 1.17 g/t gold over
220.1 m with a higher grade core of 50.5 m of 2.08 g/t gold. 21 instances of visible gold
grains were identified in core during logging. Surface rock samples gathered 100 to 500 m
south of Hole 21 expanded upon this new discovery, returning up to 11.00 g/t gold.
Furthermore, 4 placer gold test pits were excavated in the creek 1 km down-drainage from
hole 21 which revealed significant amounts of placer gold (see news release Dec 13, 2021)
that is likely associated with the in-situ gold located in this zone and further confirms the
richness of this gold system. A major fault, known as the Blackjack Fault, was also
intersected in this hole which is now recognized as a potential control of gold mineralization
in the area.
• On December 23rd, the Company closed a $2.8 million Flow-Thru financing at 17 cents per
unit, each unit consisting of 1 FT share and half a Warrant exercisable at 23 cents for 2
years. This brings the total amount raised in 2021 to $9.2 million for exploration on Sitka’s
Canadian and US properties.
• The Company is currently awaiting final approval of its Plan of Operations Permit application
from the BLM for its Burro Creek Property in Arizona. The Company has traced the
mineralized vein to the boundary of its patented claims and this permit will enable exploration
to continue along an additional 1km of undrilled strike onto Federal Lands.
• An application for a permit to drill at the Company’s Coppermine River Project in Nunavut is
currently being compiled. The application is for a drill program to drill test the Copperleaf
discovery, where mineralization has been traced for over 2 km and surface samples returned
up to 13.45% copper and 65 g/t silver, and drill test the WIN copper showing where surface
rock samples collected by Sitka have returned up to 41.54% copper.
Plans for Exploration in 2022
• Sitka has signed a 10,000 m drill contract with New Age Drilling Solutions of Whitehorse, YT to
supply one drill for a winter drill program and two drills for a summer drill program.
• The Company will conduct a winter drill program at RC Gold to follow up and expand upon the
newly discovered, high-grade gold mineralization in DDRCCC21-021. Road clearing and camp
construction is expected to begin within days, followed by drill mobilization. Drilling is expected
to commence by the end of January.
• At Alpha Gold, the current drill permit is being amended in preparation for its next phase of
exploration expected to begin in Q2.
• A diamond drill program at the OGI silver-zinc property is anticipated for the summer field season
based on preliminary target generation to be defined by the pending report on the geophysics
survey conducted in 2021.
• Once permits have been received, drilling programs at Burro Creek and Coppermine River are
anticipated to begin shortly thereafter.
Cor Coe, CEO and Director, stated: “2021 was an incredible year for Sitka with our exploration efforts
culminating in 2 new gold discoveries in Nevada and Yukon. As we head into 2022, the focus will be to
rapidly define the extent of the intrusion-related gold system discovered at RC Gold and continue
vectoring towards higher-grade zones in search of gold deposits within the newly discovered Carlin-
type gold system at Alpha Gold. Having raised over $9 million last year, the company is fully funded to
aggressively follow up on these discoveries while continuing exploration efforts on its other mineral
assets. I would like to thank the entire team at Sitka and all the contractors and support workers who
helped make 2021 such a successful year for our company. 2022 is shaping up to be a very exciting
year for Sitka.”
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 Yukon and the Burro Creek Gold property in Arizona. Sitka owns a
100% interest in its Alpha Gold property in Nevada, it’s Mahtin Gold property in the Yukon and it’s
Coppermine River project in Nunavut.
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
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