Sitka Gold Corp. announced that it has entered into an amending agreement dated April 12, 2024 to acquire a 100% ownership in the Barney Ridge Property ("Barney Ridge" or the "Property"), one of the underlying properties that comprise the Company's road accessible, 386 square kilometre RC Gold Project ("RC Gold" or the "Project") located in Yukon's Tombstone Gold Belt. The Barney Ridge Property is adjacent to the Clear Creek property which hosts the Blackjack and Eiger gold deposits.

The Company has completed all the exploration requirements and has made all property cash and share payments pursuant to the Amendment whereby the balance of future exploration expenditures will be waived and the Company will make a final payment of $60,000 cash and issue 550,000 shares (the "Consideration Shares") to acquire a 100% interest in the Property on or before May 15, 2024. To date, 56 diamond drill holes have been drilled into this system for a total of approximately 19,962 metres including 16 drill holes totaling 6,515 metres completed in 2023 focused on expanding the initial resource. The drilling in 2023 produced results of up to 219.0 m of 1.34 g/t gold including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11 g/t gold in drill hole DDRCCC-23-047 at Blackjack.

The Company recently completed two drill holes totaling 1,085 metres during the winter phase of a planned 15,000 metre diamond drilling program at the RC Gold Project for 2024. All core samples for these drill holes have been delivered to the lab and assays are currently pending. COG g/t Au, Blackjack Zone, Eiger Zone, Combined, Tonnes 000's, Au g/t, Au g/t, 0z Au 000's, Tonnes 000's, AGI properties in the Yukon and the Burro Creek Gold property in Arizona.

Sitka owns a 100% interest in its Alpha Gold property in Nevada, its Mahtin Gold property in the Yukon and its Coppermine River project in Nunavut. The Company recently announced an NI 43-101 compliant initial inferred Mineral Resource Estimate of 1,340,000 ounces of gold beginning at surface and grading 0.68 g/t at its RC Gold Project in Yukon. A total of approximately 7,585 metres of additional diamond drilling within 18 drill holes has been completed at RC Gold since the announcement of the Mineral Resource Estimate.

The scientific and technical content of this news release has been reviewed and approved by Core, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.