Sitka Gold Corp. provided project updates for its portfolio of Gold, Silver and Copper properties located in proven, mining friendly jurisdictions in North America. 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 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.

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). 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 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. 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.

Four holes totaling 1027.3 m were drilled in the 2023 program at Alpha. 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). 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.