Sitka Gold Corp. (“Sitka” or the “Company”) (CSE:SIG) (CNSX:SIG.CN) (FSE:1RF) (OTC:SITKF) is pleased to announce that it has commenced its Phase 1 drill program at its RC Gold Project (“RC Gold” or the “Project”) located approximately 110 km east of Dawson City, Yukon.

Up to 1500 m of diamond drilling is planned across the Project in this first phase of drilling. Drilling will initially focus on the recently acquired Clear Creek Property (see news release dated July 6, 2020) and will target intrusion related east-west trending sheeted quartz vein systems at the Saddle zone and the Eiger zone located 1.5 km to the east (Figure 1)(1). The Saddle zone is defined by an approximately 1 km east-west by 400 m north-south zone of greater than 150 ppb gold in soil, with a core zone measuring 500 m by 250 m of greater than 350 ppb up to 3740 ppb gold(1). The Eiger zone is defined by several gold-in-soil anomalies of greater than 150 ppb and up to 4384 ppb within a 500 m by 400 m area. The drill holes are designed to test for gold mineralization at depth below and distal to historical data that includes reverse circulation holes and trenching. Historical highlights include drillhole intercepts of 22 m of 1.24 g/t gold(2) and 88 m of 0.65 g/t gold(1) that bottomed in mineralization and trench results that include 2.11 g/t gold over 24 m(1).

(1) Huber, M. (November 10, 2018) 2018 Technical Report on the Clear Creek Property.

The author states in his report that Independent verification of those results was not undertaken and that he reconciled the field data with the analytical results and found no irregularities.

The diamond drill program will then proceed to the Big Creek and Far Grid intrusion related gold deposit targets identified by the Company in 2019 (see news release dated December 5, 2019). These targets are located approximately 6 km to the south-southeast of the Clear Creek targets and have never before been drill tested. The targets are defined by coincident mineralized east-west oriented sheeted quartz veins, soil and rock geochemistry and induced polarization (IP) chargeability anomalies (Figure 2).

Figure 1 – Saddle and Eiger Zones Proposed Drill Locations

Figure 2 – Far and Big Creek Proposed Drill Locations

Cor Coe, CEO of Sitka, comments: “Drilling at RC Gold marks an exciting milestone for Sitka. Over the past year we have consolidated a very impressive, district scale land package in Yukon that is ripe for discovery with multiple new gold targets that have yet to be drilled and existing showings that have great potential for further expansion. Yukon is a very favourable mining jurisdiction to operate in, with Canada’s newest gold mine recently entering commercial production about 40 kilometres east of the RC Gold Project, and is currently experiencing renewed interest from both juniors and majors alike. Sitka is well positioned within this new wave of activity in Yukon, where management have a long history of exploration, discovery and development.”

About the RC Gold Project

The RC Gold Project is a 345.5 km2 district scale land package located in the newly road accessible Clear Creek, Big Creek and Sprague Creek districts in the heart of Yukon’s Tintina Gold Belt and within the Tombstone Gold Belt. It is the largest consolidated land package strategically positioned mid-way between Victoria Gold’s Eagle Gold Mine, Canada’s newest gold mine which just reach commercial production earlier this month, and Golden Predator’s Brewery Creek Gold Mine, which recently received Government and First Nation’s support for re-starting production. The RC Gold Project land package is comprised of five underlying mining properties, namely; the RC Gold, Bee Bop, Mahtin, Clear Creek and Barney Ridge Properties*.

Sitka Gold has inherited a wealth of historical and current data from these properties that span the last 40 years. Recent exploration work and the compilation of historical data has defined several mineralized zones with both bulk tonnage, intrusion-related gold deposit targets and high-grade, vein and breccia hosted gold targets. The RC Gold Project also has a common border with Victoria Gold’s Clear Creek property at its western boundary and AM Gold’s Red Mountain property at its northern boundary.*

*For more detailed information on the underlying properties please see news releases dated JULY 30, 2019, ‘SITKA ACQUIRES YUKON GOLD PROPERTY’; DECEMBER 5, 2019, “SITKA GOLD DEFINES SEVERAL GOLD TARGETS AT THE RC GOLD PROPERTY, YUKON”; JANUARY 14, 2020, “SITKA EXPANDS YUKON GOLD PROPERTY TO 32,842 CONTIGUOUS HECTARES WITH MAHTIN GOLD PROPERTY ACQUISITION”; JUNE 30, 2020, “SITKA GOLD EXPANDS RC GOLD PROJECT IN YUKON WITH ACQUISITION OF BARNEY RIDGE GOLD PROPERTY”; JULY 06, 2020, “SITKA GOLD FURTHER EXPANDS RC GOLD PROJECT IN YUKON WITH ACQUISITION OF CLEAR CREEK GOLD PROPERTY”.