Southeastern Portion Of Cortez Gold Trend Drilling Program Completed

VANCOUVER - Sitka Gold Corp. reported the conclusion of the current phase of 2022 drilling at its Alpha Gold Project located on the southeast projection of the Cortez gold trend.  A total of 1,374.65 meters (m) in four holes (AG22-09 - AG22-12) targeting the Horse Canyon equivalent/Devil’s Gate Limestone contact which is the uppermost of several highly prospective gold-bearing host rock horizons.  All four holes displayed intervals of strong Carlin-type alteration associated with north to north-northwest normal faults mapped at surface and observed downhole.

Results from the first two drill holes, AG22-09 and AG22-10, were previously announced and returned values up to 21.3 m of 1.21 g/t Au including 1.5 m of 4.62 g/t Au and 10.7 m of 0.51 g/t Au respectively (see news release dated October 6, 2022). Samples from the last two drill holes (AG22-11 and AG22-12) have been submitted to the ALS Global facility in Elko, Nevada with results pending.

Cor Coe, CEO and Director, said, “We are very pleased to have completed another phase of drilling at Alpha Gold where we continue to advance the Carlin-type gold system that was discovered last year. Results received from the first two holes completed during this phase of drilling (AG22-09 and AG22-10) returned our best gold intervals to date while alteration and mineralization observed in the last two drill holes completed (AG22-11 and AG22-12) have significantly expanded the known footprint of this system with their massive step outs of 940 m and 5,600 m respectively SSE from AG22-10, adding to the exceptional tonnage potential of this target. Drilling has progressively produced larger intervals with better gold grades as we continue to vector toward the core of this recently discovered gold system. The visual observations of holes 11 and 12  have greatly enhanced our understanding of the geological controls of this system and we are eagerly awaiting their pending assay results as we plan for the next phase of drilling at Alpha Gold.”