Sitka Granted Extension at Adobe
Sitka Gold Corp.
1500 - 409 Granville Street
Vancouver, BC, V6C 1T2
NEWS RELEASE
CSE: SIG
August 23rd, 2018
NR 18-16
www.sitkagoldcorp.com
Sitka Granted Extension at Adobe
VANCOUVER, CANADA – August 23rd, 2018: Sitka Gold Corp. (CSE: SIG) (the “Company”
or “Sitka”) announces that it has reached an agreement with Intercept Minerals Corp.
(“Intercept”) to amend the terms of the Adobe Project Agreement (the “Agreement”) whereby the
Company has until September 1, 2019 to spend an aggregate of at least US$600,000 in
exploration expenses on the Property and issue 50,000 shares to Intercept by September 1,
2018, with the remaining 150,000 shares to be issued by September 1, 2019. The original terms
of the Agreement required US$600,000 in exploration expenditures to be incurred by
September 1, 2018 and 200,000 shares to be issued at by that time.
In addition, the Company and Objective Exploration LLC (“Objective”) have agreed to amend
the terms of the Agreement whereby the Company will issue 80,000 shares of Sitka to Objective
on or before September 1, 2018, and will make a payment to Objective of US$30,000, payable
in cash and/or shares of Sitka, on or before September 1, 2019. The original terms of the
Agreement required the Company to make a payment of US$40,000 to Objective, payable in
cash and/or shares of Sitka, on or before September 1, 2018.
These extensions afford more flexibility for Sitka to achieve its exploration goals at Adobe. The
Company is currently awaiting assay results from its 3rd drill hole at Adobe (See Sitka News
Release dated August 2nd, 2018)
The Company also announces that it has amended the issuance date of the stock options
granted on March 5, 2018 under its stock option plan to certain directors, officers, employees
and consultants of the Company to purchase a total of 200,000 common shares at a price of
$0.25 per share exercisable for a period of five years, to April 1, 2018 (see news release dated
March 5, 2018).
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About Sitka Gold Corp.
Sitka Gold Corp. is a mineral exploration company headquartered in Canada and managed by a
team of experienced mining industry professionals. The Company is focused on exploring for
economically viable mineral deposits with its primary emphasis on gold and copper mineral
properties of merit. Sitka currently has an option to acquire a 100% interest in the Adobe gold
property in Nevada and owns a 100% interest in its Coppermine River project in Nunavut and
the Alpha Gold property in Nevada.
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
or
Peter MacLean
Director
604-781-8513
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.
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Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements
included in this press release that address future events, conditions or results, including in
connection with exploration activity, future acquisitions and any financing, are forward-looking
statements. These forward-looking statements can be identified by the use of words such as
“may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”,
“intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These
forward-looking statements are based on certain assumptions and analyses made by
management in light of their experiences and their perception of historical trends, current
conditions and expected future developments, as well as other factors they believe are
appropriate in the circumstances. These statements are subject to risks, uncertainties and
assumptions, including those mentioned in the Company’s continuous disclosure documents,
which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and
uncertainties are outside the control of the Company and could cause actual results to differ
materially from those expressed or implied by such forward-looking statements. In making such
forward-looking statements, management has relied upon a number of material factors and
assumptions, on the basis of currently available information, for which there is no insurance that
such information will prove accurate. All forward-looking statements are expressly qualified in
their entirety by the cautionary statements set forth above. The Company is under no obligation,
and expressly disclaims any intention or obligation, to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as
expressly required by applicable law.