Heliostar Pronounces First Outcomes from 2024 Drilling Program at La Colorada Mine

Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) (“Sitka” or the “Firm”) is happy to announce assay outcomes from the primary ever diamond drill holes accomplished on the Rhosgobel intrusion, situated on the Firm’s street accessible, district-scale RC Gold Challenge in Yukon, Canada. Outcomes from DDRCRG-24-001, which is the primary diamond drill gap ever accomplished at Rhosgobel, returned 164.8 metres of 0.82 g/t gold beginning 9 metres from floor, together with 119.0 metres of 1.05 g/t gold, 37.9 metres of two.05 g/t gold and 11.5 metres of 4.32 g/t gold. Preliminary diamond drilling at Rhosgobel intersected considerable sheeted veining and a number of occurrences of seen gold, with outcomes confirming sturdy gold mineralization continues from floor to at the least 300 metres. Outcomes are presently pending for six extra diamond drill holes presently on the assay lab, together with the primary diamond drill holes ever accomplished on the Pukelman intrusion, situated roughly 2 kilometres southeast of the Blackjack gold deposit (see Determine 4), the place considerable sheeted veining has additionally been noticed together with occurrences of seen gold within the drill core (see information launch dated October 31, 2024).

• DDRCRG-24-001 returned 164.8 metres of 0.82 g/t gold beginning 9 metres from floor, together with 119.0 metres of 1.05 g/t gold, 37.9 metres of two.05 g/t gold and 11.5 metres of 4.32 g/t gold within the first ever diamond drill gap at Rhosgobel.
• Drilling confirms sturdy gold mineralization from floor to a depth of at the least 300 metres.
• Gold mineralization found at Rhosgobel is hosted in feldspar megacrystic quartz monzonite much like that seen on the Blackjack gold deposit situated 5 km alongside development to the north.
• Holes have been drilled below a >300 ppb gold-in-soil anomaly that’s half of a bigger 1.5 km x 2 km gold-in-soil anomaly with values as much as >500 ppb gold.
• Rhosgobel is the biggest mapped intrusion goal throughout the Clear Creek Intrusive Advanced.
• Drill outcomes underscore potential for Rhosgobel to host a major multi-million ounce intrusion-related gold deposit.

Desk 1: Highlights from the primary two diamond drill holes ever accomplished at Rhosgobel

“The outcomes of the primary two diamond drill holes ever drilled on the Rhosgobel intrusion goal have exceeded our expectations, with each holes returning vital intervals of over 1 g/t gold, together with 2.05 g/t gold over 37.9 metres and 4.32 g/t gold over 11.5 metres in DDRCRG-24-001”, said Cor Coe, Director and CEO of Sitka Gold. “Rhosgobel is the biggest intrusion goal throughout the Clear Creek Intrusive Advanced (see Determine 4) and these holes have confirmed that strong gold mineralization persists right here to a vertical depth of at the least 300 metres and is laterally open in all instructions inside a really massive, 2 km x 1.5 km gold-in-soil anomaly with values starting from >100 ppb to > 500 ppb (see Determine 1). This bodes very properly for the invention of a 3rd vital gold deposit at RC Gold, the place geochemical floor signatures have been proven to strongly coincide with underlying intrusion-related gold mineralization elsewhere on the property, much like that seen at our rising Blackjack gold deposit. With $15 million within the treasury and no debt, the Firm is properly positioned to observe up on this thrilling new discovery with a considerable diamond drilling program as we proceed to advance a number of targets at our flagship RC Gold Challenge.”

Determine 1 – Plan map of the 2024 drilling on the Rhosgobel intrusion exhibiting the areas of DDRCRG-24-001 and 002, the primary ever diamond drill holes accomplished at Rhosgobel, throughout the massive 1.5 x 2.0 kilometre gold-in-soil anomaly and mapped intrusion. Geochemical floor signatures akin to this have been proven to strongly coincide with underlying intrusion-related gold mineralization elsewhere on the property, much like that seen on the Blackjack gold deposit situated roughly 5 km north alongside development (see Determine 4).

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Determine 2 – Cross part of DDRCRG-24-001 and 002, the primary ever diamond drill holes accomplished on the Rhosgobel intrusion. These preliminary diamond drill holes intersected gold at considerably higher depths than the bounds of historic shallow reverse-circulation drilling and ensure that sturdy gold mineralization persists from floor to a depth of at the least 300 metres.

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Determine 3 – Shallow historic reverse-circulation drilling within the Rhosgobel intrusion in 1995 (labelled CCRC-95-XX on the map) produced quite a few intersections of gold mineralization consisting of sheeted quartz veins inside megacrystic quartz monzonite, confirming widespread gold mineralization throughout the Rhosgobel intrusion coincident with the bigger 1.5 km x 2.0 km gold-in-soil anomaly (see Determine 1). Larger-grade gold mineralization can be modelled alongside intersections of structural corridors that type conduits for gold mineralization, akin to these mapped on the Rhosgobel intrusion (purple and inexperienced traces on plan map). The primary ever diamond drill holes accomplished at Rhosgobel (DDRCRG-24-001 and 002) additional spotlight the potential for this gold system to proceed to a depth of at the least 300 metres.

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The Rhosgobel intrusion is the biggest and southernmost uncovered intrusion that kinds part of the Clear Creek Intrusive Advanced (CCIC). Intrusions throughout the CCIC occupy an space of roughly 8 by 15 kilometres and certain have a typical magmatic supply at depth. The intrusions range in composition and embrace quartz monzonite, granodiorite and diorite. Felsic and lamprophyre dykes additionally happen throughout the CCIC. All the intrusions have related gold mineralization, suggesting that the CCIC kinds a big mineralized system with the potential to host a number of gold deposits. The Rhosgobel intrusion is a megacrystic quartz monzonite (MCQM) much like the Saddle Intrusion that hosts the Blackjack Deposit 5 km to the north.

Earlier shallow reverse circulation drilling by Kennecott in 1995 recognized widespread gold mineralization throughout the Rhosgobel intrusion (see Determine 3). These preliminary diamond drill holes by Sitka have intersected gold at considerably higher depths, demonstrating the potential for a a lot bigger mineralized system.

Mineralization at Rhosgobel consists of considerable 1-2 cm sheeted quartz veins, bigger (10-40 cm) quartz tourmaline veins, and enormous zones of quartz tourmaline breccias and stockwork inside a bigger zone slicing the MCQM host intrusion. Coarse scheelite and sulphides, together with pyrrhotite and pyrite with subordinate arsenopyrite, happen throughout the veins and breccias all through the intrusion. Gold was noticed throughout the quartz veins and breccias and was persistently related to bismuthinite, scheelite, and infrequently molybdenite. Alteration was pervasive quartz-sericite and sericite-chlorite with extra intense quartz-sericite-chlorite alteration selvages across the veins.

DDRCRG-24-001

Drill gap DDRCRG-24-001 was drilled to a size of 303.6 metres at a dip of -50 levels and an azimuth of 010 levels to check the down dip extension of the gold mineralization intersected within the historic RC drill holes CCRC-95-15 and CCRC-95-16. The opening remained in MCQM all through its size together with roughly 200 metres of altered, faulted, brecciated, and mineralized feldspar megacrystic quartz monzonite and roughly 100 metres of weakly altered MCQM minimize by occasional 1-10 cm quartz-scheelite sheeted veins. Seen gold was noticed at two areas throughout the gap.

DDRCRG-24-001 intersected vital gold mineralisation from close to floor to about 180 metres with 164.8 metres returning 0.82 g/t gold from 9.1 metres. Larger grade intersections inside this interval included 119.0 metres of 1.05 g/t gold from 30.0 metres and 37.9 metres of two.05 g/t gold from 98.5 metres. A 1.8 metre interval from 102.0 metres returned 16.25 g/t gold, demonstrating the presence of great excessive grade gold mineralization within the Rhosgobel system.

DDRCRG-24-002

Drill gap DDRCRG-24-002 was drilled to a size of 400.8 metres at a dip of -75 levels and an azimuth of 010 levels to check the down dip extension of the gold mineralization intersected within the historic RC drill holes CCRC-95-15 and CCRC-95-16, and the mineralized interval intersected in DDRCRG-24-001. DDRCRG-24-002 additionally remained in MCQM all through its size. The opening intersected roughly 50 metres of oxidized, altered, faulted, and mineralized MCQM, then continued via sections of excessive vein density and really massive, domestically brecciated, quartz and quartz tourmaline veins with sturdy alteration envelopes. Mineralization within the veins included coarse scheelite, molybdenite and bismuthinite. Quite a few cases of seen gold have been famous all through the opening.

DDRCRG-24-002 returned 350.1 metres 0.40 g/t gold from 5.5 metres, demonstrating the continuation of widespread gold mineralization intersected in DDRCRG-24-001 to depth. Larger grade intervals from this broad intersection included 173.3 metres of 0.60 g/t gold from 97.0 metres, 28.4 metres of 1.40 g/t gold from 105.0 metres, 12.4 metres of two.40 g/t gold from 121.0 metres, 0.9 metres of 5.50 g/t gold from 228.8 metres and 1.1 metres of 9.00 g/t gold from 269.2 metres.

Determine 4 – Map exhibiting a number of precedence goal areas throughout the lately consolidated Clear Creek Intrusive Advanced together with the situation of 2024 diamond drilling accomplished on the Rhosgobel intrusion roughly 5 km south of the Blackjack and Eiger deposits. The Rhosgobel intrusion is roughly 3 km lengthy and a couple of km large. Larger-grade gold mineralization is modelled alongside intersections of structural corridors that type conduits for gold mineralization. A big mineralized system highlighted by the quite a few gold-bearing intrusions and intersecting structural corridors much like that being outlined on the Blackjack Deposit exist at many different goal areas throughout the Clear Creek Intrusive Advanced.

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Determine 5 – Examples of a number of cases of seen gold noticed all through DDRCRG-24-001 (a – b) and DDRCRG-24-002 (c – f). Seen gold is commonly related to bismuthinite, scheelite, and arsenopyrite.

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Determine 6 – Drill core from DDRCRG-24-001 exhibiting the 37.9 m interval from 98.5 m to 136.4 m grading 2.05 g/t Au, together with 1.7 m of 16.25 g/t Au from 102.0 m

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Determine 7 – Drill core from DDRCRG-24-002 exhibiting the 28.4 m interval from 105.0 m to 133.4 m grading 1.37 g/t Au

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Desk 2: Abstract of great drill gap outcomes from this launch

*Intervals are drilled core size as inadequate drilling has been accomplished at the moment to calculate true widths. Totals could not sum exactly resulting from rounding.

Metallurgical Testing

The Firm has initiated extra metallurgical research on the Blackjack Deposit by ALS Canada Ltd. Metallurgy Companies to additional examine the gold recoveries of various varieties and grades of mineralization. Extraction gold recoveries from earlier bottle roll testing by ALS in 2022 averaged 85% and have been as excessive as 94% (See Firm press launch dated July 13, 2022) .

Three 20 kg composite samples of megacrystic quartz monzonite materials grading 0.406 g/t Au, 1.08 g/t Au and 1.99 g/t Au and one 20 kg composite pattern of metasedimentary materials grading 0.605 g/t Au have been chosen for this spherical of testing. The samples have been composited from coarse reject materials from 2023 drilling. The target of the testing is to analyze the restoration potential of gravity focus and sulphide flotation, and to additional examine cyanide leach recoveries.

High quality Assurance/High quality Management

On receipt from the drill web site, the HTW/NTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Sitka’s core logging facility. Pattern lengths as small as 0.3 m have been used to isolate options of curiosity, in any other case a default 2 m downhole pattern size was used. Every pattern is recognized by a singular pattern tag quantity which is positioned within the bag containing the core to be assayed. Core was minimize in half lengthwise alongside a predetermined line, with one-half (the identical half, persistently) collected for evaluation and one-half saved as a document. Normal reference supplies, blanks and duplicate samples have been inserted by Sitka personnel at common intervals into the pattern stream. Bagged samples have been positioned in safe bins to make sure integrity throughout transport. They have been delivered by Sitka personnel or a contract expeditor to ALS Laboratories’ preparatory facility in Whitehorse, Yukon, with analyses accomplished in North Vancouver.

ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory evaluation. Samples have been crushed by ALS to over 70 per cent passing under two millimetres and break up utilizing a riffle splitter. One-thousand-gram splits have been pulverized to over 85 per cent passing under 75 microns. Gold determinations are by hearth assay with an inductively coupled plasma mass spectroscopy (ICP-MS) end on 50 g subsamples of the ready pulp (ALS code: Au-ICP-22). Any pattern returning over 10 g/t Au was re-analyzed by hearth assay with a gravimetric end on a 50 g subsample (ALS code: Au-GRA21). As well as, a 51-element evaluation was carried out on a 0.5 g subsample of the ready pulps by an aqua regia digestion adopted by an inductively coupled plasma mass spectroscopy (ICP-MS) end (ALS code: ME-MS41).

In regards to the flagship RC Gold Challenge

The RC Gold Challenge consists of a 431 sq. kilometre contiguous district-scale land bundle situated within the coronary heart of Yukon’s Tombstone Gold Belt. The venture is situated roughly 100 kilometres east of Dawson Metropolis, which has a 5,000 foot paved runway, and is accessed through a secondary gravel street from the Klondike Freeway which is usable year-round and is an approximate 2 hour drive from Dawson Metropolis. It’s the largest consolidated land bundle strategically positioned mid-way between the Eagle Gold Mine and the previous producing Brewery Creek Gold Mine.

On January 19, 2023 Sitka Gold introduced an Preliminary Mineral Useful resource Estimate ready in accordance with Nationwide Instrument 43-101 (“NI 43-101”) tips for the RC Gold Property of 1,340,000 ounces of gold(1). The street accessible, pit constrained Mineral Useful resource is assessed as inferred and is contained in two zones: The Blackjack and Eiger deposits with 900,000 ounces of gold grading 0.83 g/t and 440,000 ounces of gold grading 0.68 g/t respectively. Each of those deposits are at/close to floor, are probably open pit minable and amenable to heap leaching, with preliminary bottle roll exams indicating that the gold isn’t refractory and has excessive gold recoveries of as much as 94% with minimal NaCN consumption (see Information Launch July 13, 2022). The Mineral Useful resource estimate is offered within the following desk at a base case cut-off grade of 0.25 g/t Au:

RC Gold Inferred Mineral Useful resource Estimate

Notes

1. Mineral useful resource estimate ready by Ronald G. Simpson of GeoSim Companies Inc. with an efficient date of January 19, 2023. Mineral Assets are categorised utilizing the 2014 CIM Definition Requirements.
2. The cut-off grade of 0.25 g/t Au is believed to offer an affordable margin over working and sustaining prices for open-pit mining and processing
3. Mineral assets are constrained by an optimised pit shell utilizing the next assumptions: US$1800/oz Au value; a forty five° pit slope; assumed metallurgical restoration of 85%; mining prices of US$2.00 per tonne; processing prices of US$8.00 per tonne; G&A of US$1.50/t.
4. Mineral assets are usually not mineral reserves and wouldn’t have demonstrated financial viability.
5. Totals could not sum resulting from rounding.

So far, 72 diamond drill holes have been drilled into this technique by the Firm for a complete of roughly 25,136 metres. The preliminary useful resource was primarily based on 11,630 m of drilling in 34 holes with 22 holes totaling 7,492 m within the Blackjack deposit. Drilling for the reason that preliminary useful resource launch has targeted on increasing the Blackjack useful resource with an extra 12-holes totaling 5,212 drilled in 2023 and 15-holes totaling 7162 m to this point in 2024. Different targets drilled to this point embrace the Saddle zone, Josephine zone and the Rhosgobel zone. The useful resource enlargement drilling in 2023 at Blackjack produced outcomes of as much as 219.0 m of 1.34 g/t gold together with 124.8 m of two.01 g/t gold and 55.0 m of three.11 g/t gold in drill gap DDRCCC-23-047 (see information launch dated September 26, 2023) and in 2024 outcomes of as much as 678.1 metres of 1.04 g/t gold ranging from floor, together with 409.5 metres of 1.36 g/t gold, 93.0 metres of two.57 g/t gold and 5.5 metres of 17.59 g/t gold

(see information launch dated October 21, 2024).

(1) Simpson, R. January 19, 2023. Clear Creek Property, RC Gold Challenge, NI 43-101 Technical Report, Dawson Mining District, Yukon Territory

RC Gold Deposit Mannequin

Exploration on the Property has primarily targeted on figuring out an intrusion-related gold system (“IRGS”). The property is throughout the Tombstone Gold Belt which is the outstanding host to IRGS deposits throughout the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt embrace: Fort Knox Mine in Alaska with present Confirmed and Possible Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with present Measured and Indicated Assets of 233 million tonnes at a grade of 0.57 g/t Au on the Eagle Fundamental Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with present Indicated Mineral Useful resource of twenty-two.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the Florin Gold deposit with a present Inferred Mineral Useful resource of 170.99 million tonnes grading 0.45 g/t (2.47 million ounces; Simpson 2021)(4); the AurMac Challenge with an Inferred Mineral Useful resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(5) and the Valley Deposit, with a present Indicated Mineral Useful resource of 4.05 million oz gold at 1.66 g/t and an extra Inferred Mineral Useful resource of three.26 million oz at 1.25 g/t gold(6).

(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA Nationwide Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads…

(2) Harvey N., Grey P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_202…

(3) Hulse D, Emanuel C, Cook dinner C. NI 43-101 Technical Report on Mineral Assets. Gustavson Associates. Might 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022…

(4) Simpson R. Florin Gold Challenge NI 43-101 Technical Report. Geosim Companies Inc. April 21, 2021. https://sedar.com/GetFile.do?lang=EN&docClass=24&i… d=4984158

(5) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Power and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/bany…

(6) Burrell H., Redmond D.J., Haggarty P., Rogue Gold Challenge: NI43-101 Technical Report and Mineral Useful resource Estimate, Yukon Territory, Canada. Snowline Gold Corp. Might 15, 2024. https://snowlinegold.com

Upcoming Occasions

Sitka Gold will likely be attending and/or presenting on the following occasions*:

• American Exploration and Mining Affiliation Convention, Reno, NV: December 1 – 6, 2024
• Steel Buyers Discussion board, Vancouver, BC: January 17-18, 2025
• VRIC, Vancouver, BC: January 19 – 20, 2025
• RoundUp, Vancouver, BC: January 20-23, 2025

*All occasions are topic to vary.

About Sitka Gold Corp.

Sitka Gold Corp. is a well-funded mineral exploration firm headquartered in Canada with over $15 million in its treasury and no debt. The Firm is managed by a crew of skilled business professionals and is targeted on exploring for economically viable mineral deposits with its major emphasis on gold, silver and copper mineral properties of benefit. Sitka is presently advancing its 100% owned, 431 sq. kilometre flagship RC Gold Challenge situated throughout the Tombstone Gold Belt within the Yukon Territory. The Firm can be advancing the Alpha Gold Challenge in Nevada and presently has drill permits for its Burro Creek Gold and Silver Challenge in Arizona and the Coppermine River Challenge in Nunavut.

The Firm lately introduced an NI 43-101 compliant preliminary inferred Mineral Useful resource Estimate of 1,340,000 ounces of gold(1) starting at floor and grading 0.68 g/t at its RC Gold Challenge in Yukon (see information launch dated January 19, 2023).

(1) Simpson, R. January 19, 2023. Clear Creek Property, RC Gold Challenge, NI 43-101 Technical Report, Dawson Mining District, Yukon Territory

*For extra detailed data on the Firm’s properties please go to our web site at www.sitkagoldcorp.com

The scientific and technical content material of this information launch has been reviewed and authorized by Cor Coe, P.Geo., Director and CEO of the Firm, and a Certified Individual (QP) as outlined by Nationwide Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.

“Donald Penner”

President and Director

For extra data contact:

Donald Penner
President & Director
778-212-1950
dpenner@sitkagoldcorp.com

or

Cor Coe
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com

Neither TSX Enterprise Trade nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch.

Cautionary and Ahead-Wanting Statements

This launch consists of sure statements and data that will represent forward-looking data throughout the that means of relevant Canadian securities legal guidelines. Ahead-looking statements relate to future occasions or future efficiency and mirror the expectations or beliefs of administration of the Firm concerning future occasions. Usually, forward-looking statements and data will be recognized by means of forward-looking terminology akin to “intends” or “anticipates”, or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “could”, “might”, “ought to”, “would” or “happen”. This data and these statements, referred to herein as “ahead‐wanting statements”, are usually not historic details, are made as of the date of this information launch and embrace with out limitation, statements concerning discussions of future plans, estimates and forecasts and statements as to administration’s expectations and intentions and the Firm’s anticipated work packages.

These ahead‐wanting statements contain quite a few dangers and uncertainties and precise outcomes may differ materially from outcomes prompt in any forward-looking statements. These dangers and uncertainties embrace, amongst different issues, market uncertainty and the outcomes of the Firm’s anticipated work packages.

Though administration of the Firm has tried to determine necessary elements that might trigger precise outcomes to vary materially from these contained in forward-looking statements or forward-looking data, there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. There will be no assurance that such statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on forward-looking statements and forward-looking data. Readers are cautioned that reliance on such data is probably not applicable for different functions. The Firm doesn’t undertake to replace any forward-looking assertion, forward-looking data or monetary out-look which can be included by reference herein, besides in accordance with relevant securities legal guidelines. We search secure harbor.

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