RC Gold Project Diamond Drill Program Commences

VANCOUVER - Sitka Gold Corp. has commenced its 2023 diamond drill program of up to 10,000 meters of drilling at its RC Gold Project in Yukon. This drill program will be primarily focused on step out drilling from the recently announced Blackjack and Eiger intrusion related gold deposits which remain open in all directions and have an initial inferred resource estimate of 1.34 million ounces of gold. The road accessible, contiguous 376 square kilometer RC Gold Project is located in the Yukon’s prolific Tombstone Gold Belt (TGB), approximately 100 kilometers east of Dawson City.

“We are excited to get an early start on the 2023 diamond drilling program at the RC Gold Project,” said Cor Coe, P.Geo, Director and CEO. “The recently announced 1.34 million ounce initial gold resource at RC Gold remains ripe for considerable expansion and we expect the drilling planned for this year will add significant ounces to this mineral resource. The fact that Sitka has defined two gold deposits that come to surface, totaling 1,340,000 ounces gold and open in all directions, with just 13,000 meters of drilling completed since exploration efforts began, really demonstrates the district-scale potential of RC Gold. With a largely undrilled, 1.5 km mineralized corridor potentially linking these deposits together and several additional high priority, intrusion related gold targets yet to be tested across this 376 square kilometer contiguous land package, we believe we have only scratched the surface of the world class potential this Project has to host several multi-million ounce gold deposits.”

While expansion of the Blackjack and Eiger deposits will be the main focus of drilling efforts this year, the potential for additional discoveries across the district-scale land package remains robust with several high priority, intrusion related gold deposit targets yet to be tested. A 1.5 kilometer long mineralized corridor also remains open between the Blackjack and Eiger deposits with the potential for gold mineralization to link the Blackjack and Eiger zones together, as well as outwardly to the east and west and to depth. With the 2023 winter diamond drilling program underway, the Company expects to see meaningful advancement at RC Gold over the coming months.