VANCOUVER, CANADA - TheNewswire - May 25, 2021 - Sitka Gold Corp. (“Sitka” or the “Company”) (CNSX:SIG.CN) (FSE:1RF) (OTC:SITKF) is pleased to announce that it has received multi-element analytical results from recent drilling at its Alpha Gold Project (“Alpha Gold” or the “Project”), located along the southeast projection of the prolific Cortez Gold Trend in Eureka County, approximately 135 kilometres southwest of Elko, Nevada. The Company previously reported the gold fire assays on these drill holes that outlined significant broad anomalous gold intercepts (see Table 1).

The Company has now received results from the analytical lab on its 63 element Inductively Coupled Plasma Mass Spectrometry (ICP-MS) analysis of the drill hole samples from AG21-02 and AG21-03, which were collared 750 meters apart. These ICP results indicate that the broad anomalous gold zones previously reported in these drill holes are coincident with strong Carlin-type gold deposit pathfinder elements including arsenic, antimony, mercury, and thallium. Peak values include 1590 ppm arsenic, 239 ppm antimony, mercury exceeding the 10 ppm upper detection limit, and 72 ppm thallium (see Figures 1 through 4). Detailed study of the High Grade Bullion ore zone at Turquoise Ridge (Cassinerio and Muntean, 2011), Nevada concluded that values above 100 ppm arsenic, 5 ppm antimony, 1 ppm mercury, and 5 ppm thallium coincided with visible alteration and the first three formed haloes beyond that ore zone. Values at Alpha Gold above these levels are shown in orange, red and magenta in Figures 1-4.

Confirmation of strong pathfinder anomalies associated with broad gold zones and intense alteration in these latest drill holes clearly indicates a Carlin-type gold system within the Alpha Gold property. Surface mapping and structural interpretation suggest about 5 km of strike length along two north-northwest structural targets (Figure 5). Continued prospecting along these targets has identified additional strong surface alteration supporting them and an initial suite of surface rock chip samples has been collected. Surface alteration strengthens to the south-southeast on both targets. The company is awaiting permits to conduct further drilling along these targets now interpreted as the most probable locations for the high-grade core zones of this Carlin-type gold system.

“The ICP results from AG21-02 and AG21-03 have confirmed that we have a Carlin-type gold system at Alpha Gold”, stated Cor Coe, P.Geo., Director and CEO of Sitka Gold. “The combination of broad anomalous gold intercepts, alteration and strong, coincident Carlin pathfinder element anomalies underscores this conclusion. We look forward to starting the next phase of drilling and vectoring toward the most probable high-grade core zones of this Carlin-type gold system as soon as we receive additional drill permits.”

Table 1 - Alpha Gold Project Gold Assay Results for AG21-02 & AG21-03

*Intervals are drilled interval length, as insufficient drilling has been undertaken to determine true widths at this time.

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Figure 1 - Arsenic Values of AG21-02 & AG21-03

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Figure 2 - Mercury Values of AG21-02 & AG21-03

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Figure 3 - Thallium Values for AG21-02 & AG21-03

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Figure 4 - Antimony Values for AG21-02 & AG21-03

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Figure 5 - Plan Map of Target Zones

Quality Assurance/Quality Control

Analytical work for this drill program was carried out by Activation Laboratories Ltd. (Actlabs) in Kamloops, British Columbia. The sample preparation and gold fire assays took place in Kamloops, BC and the ICP-MS analyses were completed in Ancaster, Ontario. All samples were fire assayed for Gold with AA finish and over-limits re-analysed gravimetrically where applicable. Additionally, all samples were analysed by ICP-MS for 63 trace element geochemistry.

The Company has a rigorous QAQC program in place in addition to QAQC procedures at the lab. Each batch of 20 samples contains one certified Standard Reference Material, one certified Blank and one duplicate. All results have passed the QAQC screening at the lab.

About Alpha Gold

Sitka Gold has acquired a 100% interest in the Alpha Gold Project, located along the southeast projection of the prolific Cortez Gold Trend in Eureka County, approximately 135 kilometres southwest of Elko, Nevada. The Property is comprised of 2 claim blocks totalling 114 lode claims covering an area of approximately 2280 acres (923 hectares) and is accessible via a dirt road, approximately 2km west of Nevada State Highway 278. 

The Property was initially staked after the location was recognized as the intersection of the regional-scale Pine Valley anticline with northeasterly fold trends exposed in the Roberts Mountains. Of primary importance at the Alpha Gold location is that the rocks have been down-dropped significantly by late extensional faulting. Prior to extension, and during the critical 36-42 Ma Carlin-type mineralization event, the fold crest at Alpha Gold would have been a regional highpoint among nearby mountain ranges. Well exposed ‘lower plate windows’ near Alpha Gold have been extensively explored for Carlin-type gold deposits with a number of deposits found along the limbs.

About Sitka Gold Corp.

Sitka Gold Corp. is a mineral exploration company headquartered in Canada that is fully funded for its planned 2021 exploration programs with the recent completion of a $6.37 million financing. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka currently has an option to acquire a 100% interest in the RC, Barney Ridge, Clear Creek and OGI properties in Yukon and the Burro Creek Gold property in Arizona. Sitka owns a 100% interest in its Alpha Gold property in Nevada, it’s Mahtin Gold property in the Yukon and it’s Coppermine River project in Nunavut.

The scientific and technical content of this news release has been reviewed and approved by Cor Coe, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101. 

ON BEHALF OF THE BOARD OF DIRECTORS OF

SITKA GOLD CORP.

“Donald Penner”

President and Director

For more information, please contact:

Cor Coe

CEO & Director

604-979-0509

ccoe@sitkagoldcorp.com

www.sitkagoldcorp.com

Cautionary and Forward-Looking Statements

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, “approximate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “would” and similar expressions.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the expected timing and terms of the private placement, use of proceeds, anticipated work program, required approvals in connection with the work program and the ability to obtain such approvals. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.

The forward‐looking statements and information contained in this news release are made as of the date of this news release and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the CSE. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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