InvestmentPitch Media Video Discusses Sitka Gold's Signing of Drilling Contract and its Plans to Begin Drilling its Alpha Gold Property in Nevada

Vancouver, British Columbia--(Newsfile Corp. - October 26, 2023) - Sitka Gold (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) has signed a drilling contract and plans to begin drilling its Alpha Gold Property in Nevada. Sitka has engaged Midnight Sun Drilling Inc., a highly reputable drill contractor with over 50 years of experience, to carry out the next phase of drilling at its Alpha Gold Property in Nevada.

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For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company along with comments from Mike Burke, B.Sc., P.Geo., Director and VP Corporate Development of Sitka Gold. If you are unable to view this video, please watch on InvestmentPitch Media's YouTube channel at this link: (click here).

The company holds 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, and 40 kilometres southeast of the Nevada Gold Mines' Cortez Mine Complex in Nevada. The Project is comprised of one contiguous claim block totalling 239 lode claims covering an area of approximately 4,780 acres or 1,934 hectares, and is accessible via a dirt road, approximately 2 km west of Nevada State Highway 278.

The Project was initially staked after the location was recognized as the intersection of the regional-scale Pine Valley anticline with north-easterly fold trends exposed in the Roberts Mountains. Overprinting NNW folds coincident with the projection of the Cortez Trend were subsequently recognized and found to be important alteration and mineralization controls. Of primary importance at the Alpha Gold location is that the rocks have been down-dropped significantly by late extensional faulting.

Since its acquisition, a total of 3,979 metres of drilling in 12 holes have been completed at Alpha Gold, advancing the Property from an undrilled geologic concept with a surface alteration and pathfinder element anomaly to a large, wide-open Carlin-type gold system with thick, low-grade gold intercepts from wide-spaced drilling. Management believes there is significant potential for high grade gold mineralization within structures at the Horse Canyon Equivalent/Devil's Gate contact and drilling designed to test these structures is expected to commence about November 1st.

Testing will take place from the currently permitted drill sites along the northern 2 km of the target trend. High priority sites providing optimal angles on the target near holes 8 and 10 include the site of AG21-09.

The site of AG21-06 south of AG22-10 provides a target angle with potential to hit the Horse Canyon to Devils Gate host horizon first on the east side of the Hingeline fault, then cross the fault and hit the host horizon again on the downthrown side of the fault. For more details of this proposed drilling program please refer to the October 24th news release.

Sitka has an option to acquire 100% of its flagship RC Gold Project, which consists of a 376 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. It is strategically positioned mid-way between the Eagle Gold Mine, Yukon's newest gold mine, approximately 60 km to the east, and the Brewery Creek Gold Mine. 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.

The company is well funded with its shares trading at $0.13. For more information about the company and its other projects in the Yukon, Arizona, Nevada, and Nunavut, please visit the company's website at www.SitkaGoldCorp.com, contact Donald Penner, President, at 778-212-1950 or by email at dpenner@SitkaGoldCorp.com, or Cor Coe, CEO, at 604-817-4753, or email ccoe@SitkaGoldCorp.com.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185267