First Hole Of The 2022 Drilling Program At Alpha Gold

VANCOUVER - Sitka Gold Corp. announced that the next phase of drilling recently began at the Alpha Gold Project, located at the southeast end of the Cortez Trend. The Company has also completed the first drill hole of this phase of drilling (hole #AG22-09) that went to a depth of 171 meters. The Company is very excited to be continuing its exploration drilling at Alpha Gold, where drilling completed in 2021 discovered a new Carlin-type gold system. Valuable knowledge gained from the previous drill campaigns, along with additional mapping and other recent information gathered in the area, have been incorporated into the latest generation of priority drill targets for this current phase of exploration.  All previous holes drilled to date have intersected gold mineralization associated with strong Carlin-type pathfinder elements in a zone of strong alteration at surface that extends for approximately 7 kilometers along major fold structures that have been mapped in the area. Sitka intends to drill a minimum of 1,500 meters during this phase of exploration.

AG22-09 was completed to a depth of 171 meters. The hole was drilled at an azimuth of 176 degrees and an inclination -60 degrees from the same pad as drill holes AG21-05 and -07 and was positioned to test the hanging wall (west side) of the N-S structure. There was a decalcified zone at 58-61 meters, but the strong alteration began at 113 meters in the Horse Canyon equivalent unit.  A zone of strong silicification, decalcification and druzy quartz in vugs continued to 143 meters.  The interval was highly carbonaceous and zones of 5-10+ percent pyrite were common.  There were also balls of clay and chips of rhyolite from thin dikes in the upper part of the interval. This alteration was much more visual than that at the bottom of AG21-05.  At 143 meters the hole began to hit cavities and lose return. Cuttings that were recovered below 143 meters included mostly fine sucrosic jasperoid typical of strongly altered Devils Gate Limestone. The strong alteration reminiscent of AG21-08 in this hole is very encouraging for AG21-10 which is currently being drilled and will test the same structure farther south and deeper.

"We are very excited to begin this latest phase of drilling at Alpha Gold," stated Cor Coe, P.Geo., CEO and Director. "This is the first drilling to be conducted since we doubled the size of the Alpha Gold Property last year, after receiving our assay results and our amended BLM drill permit. Previous drilling at Alpha Gold returned intervals of greater than one gram per tonne of gold with only eight drill holes completed across three phases of drilling in a large, newly identified area within the projection of the Cortez trend. Initial observations of drill hole AG22-09 are very encouraging and further enforce our belief that Alpha Gold has excellent potential to host a large, Carlin-type gold deposit. Sitka is well funded to continue drill advancing the Alpha Gold Project as we work towards vectoring in on the high-grade core of this newly discovered Carlin-type gold system."