Sitka Gold Corp. announced that it has secured a drilling contractor to complete winter and summer diamond drilling programs at its RC Gold Project ("RC Gold" or the "Project") located in the prolific Tombstone Gold Belt in the Yukon. Preparation of crew and equipment is currently underway and mobilization for the winter drilling program is anticipated to begin next month.

Kluane Drilling Ltd., a highly experienced drilling company based in Whitehorse, Yukon with over 30 years of experience diamond drilling in the Yukon and around the world, has been contracted to complete up to 15,000 metres of drilling at the Company's RC Gold Project. Kluane Drilling is dedicated to providing quality drilling services based on technical innovation and human talent and specializes in achieving high drilling production in various drilling environments. Kluane Drilling has proven to be an exceptional contractor and Sitka looks forward to continuing working with them as the Company continues to advance RC Gold in 2024.

The 2024 winter drilling program at RC Gold will follow-up on hole DDRCCC-23-047 which was the grade intersection at the project to date at the current southern extent of the Blackjack zone returning 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. The RC Gold Project (RC Gold) consists of a 386 square kilometre contiguous district-scale land package located in the newly road accessible Clear Creek, Big Creek, and Sprague Creek districts in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson.

It is the largest consolidated land package strategically positioned mid-way between Victoria Gold's Eagle Gold Mine - Yukon's newest gold mine which reached commercial production in the summer of 2020 - and Victoria Gold's Brewery Creek Gold Mine. The RC Gold Project land package comprises five underlying properties, namely, the RC, Bee Bop, Mahtin, Clear Creek, and Barney Ridge properties. Sitka currently owns 100% of the Clear Creek, Mahtin and other independently staked claims which comprise 86% of the total 386 square kilometre land package that comprises the RC Gold Project.

The Company has an option to earn a 100% interest in the Barney Creek, Bee Bop and RC properties which comprise the remaining 14% of the RC Gold Project. On January 19, 2023Sitka Gold announced an Initial Mineral Resource Estimate prepared in accordance with National Instrument 43-101 ("NI 43-101") guidelines for the RC Gold Property of 1,340,000 ?ounces of gold. The road accessible, pit constrained Mineral Resource is classified as inferred and is contained in two near/on-surface zones: The Blackjack and Eiger deposits.

The Mineral Resource estimate is presented in the following table at a base case cut-off grade of 0.25 g/t Au: The Initial Mineral Resource Estimate of 1,340,000 ounces of gold at the RC Gold Project is comprised of two deposits: the Blackjack deposit containing 900,000 ounces of gold at a grade of 0.83 g/t gold and the Eiger deposit containing 440,000 ounces of gold at a grade of 0.50 g/t gold. Both of these deposits are at/near surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption. The Blackjack and Eiger deposits are in close proximity to highway and power infrastructure, are road accessible year-round, remain open in all directions and are located within the Clear Creek Intrusive Complex.

The deposits are located within a large, 3 kilometre by 5 kilometre intrusion related gold system that was recently identified at the Northern Extent of the Clear Creek Intrusive Complex. To date, 54 diamond drill holes have been drilled into this system for a total of approximately 18,877 metres with 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.