Sitka GOLD Signs 30,000 Metre Diamond Drilling Contract FOR 2025 at Its Rc GOLD Project, Yukon
NEWS RELEASE
November 27, 2024
NR 24-28
www.sitkagoldcorp.com
SITKA GOLD SIGNS 30,000 METRE DIAMOND DRILLING
CONTRACT FOR 2025 AT ITS RC GOLD PROJECT, YUKON
VANCOUVER, CANADA – November 27, 2024: Sitka Gold Corp. (“Sitka” or the “Company”)
(TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce that it has signed an agreement
with Kluane Drilling Corp. to complete up to 30,000 metres of diamond drilling in 2025 at its road
accessible RC Gold Project (“RC Gold” or the “Project”) located in the prolific Tombstone Gold Belt in
the Yukon. This will be the largest drilling campaign ever conducted at RC Gold and is anticipated to
focus primarily on follow up drilling at the Rhosgobel and Pukelman intrusion targets along with further
expansion drilling at the Blackjack gold deposit and drill testing other high-priority targets identified
elsewhere on the district-scale, 431 square kilometre property.
Kluane Drilling Ltd., a well established, highly experienced drilling company based in Whitehorse,
Yukon with over 30 years of experience diamond drilling in the Yukon and around the world, has been
contracted to complete up to 30,000 metres of drilling at the Company’s flagship RC Gold Project.
Kluane Drilling is dedicated to providing quality drilling services based on technical innovation and
human talent and specializes in achieving high drilling production in various drilling environments.
Kluane Drilling has proven to be an exceptional contractor for the past two years and Sitka looks
forward to continuing to work with them as the Company further advances RC Gold in 2025.
“We are very pleased to have secured the services of Kluane Drilling Ltd. for what will be our largest
ever diamond drilling program planned for our RC Gold Project in 2025,” said Cor Coe, Director and
CEO of Sitka. “Kluane provided Sitka with exceptional drilling services throughout our winter and
summer drilling programs at RC Gold in both 2023 and 2024 and we look forward to continuing to
develop the project with them in the coming year as we substantially increase the scale and scope of
drilling. The 2024 drilling campaign at RC Gold returned excellent assay results from both the Blackjack
gold deposit area and the first ever diamond drill holes at the Rhosgobel intrusion, and has identified
visible gold in its first two diamond drill holes at the Pukelman intrusion where assay results are still
pending (see news releases dated November 25 and October 31, 2024). We are eagerly looking
forward to following up on the success we had this past year and, with over $15 million in cash and no
debt, the Company is fully funded to complete the planned work program at RC Gold in 2025. We also
look forward to receiving the results from the last six diamond drill holes of the 2024 season totalling
2,774 metres that are still pending from RC Gold, with 2 holes from Pukelman and 4 holes from
Blackjack.”
Stock Option Grant
Sitka Gold Corp. also announces that it has granted an aggregate of 5,500,000 incentive stock options
(the “Options”) to officers, directors and consultants of the Company. The Options are exercisable at
$0.37 per share for a period of three years from the date of grant and are subject to the policies of the
TSX Venture Exchange.
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
●
American Exploration and Mining Association Conference, Reno, NV: December 1 - 6, 2024
●
Metal Investors Forum, Vancouver, BC: January 17 - 18, 2025
●
VRIC, Vancouver, BC: January 19 - 20, 2025
●
RoundUp, Vancouver, BC: January 20 - 23, 2025
●
PDAC, Toronto, ON: March 2 - 5, 2025
●
Swiss Mining Institute, Zurich, Switzerland: March 18 - 19, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with over $15
million in its treasury and no debt. 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 is currently advancing its 100%
owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the
Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has
drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in
Nunavut.
In January 2023, the Company 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).
(1) Simpson, R. January 19, 2023. Clear Creek Property, RC Gold Project, NI 43-101 Technical Report, Dawson Mining District, Yukon Territory
*For more detailed information on the Company’s properties please visit our website at www.sitkagoldcorp.com
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
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 discussions of future plans, estimates and forecasts and statements as
to management’s expectations and intentions and the Company’s anticipated work programs.
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, market uncertainty and the results of the Company’s
anticipated work programs.
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.