- 60,000 m diamond drill program underway with multiple occurrences of visible gold reported in all holes completed so far this year at both the Blackjack and Rhosgobel target areas
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Rhosgobel drilling also continues to intersect additional coarse scheelite (a tungsten mineral)
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Four diamond drill rigs are currently active on the property with two additional rigs anticipated to mobilize in the coming weeks
Vancouver, British Columbia–(Newsfile Corp. – April 29, 2026) – Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQX: SITKF) (“Sitka” or “Sitka Gold” or the “Company”) is pleased to announce positive observations from the initial drill holes at both the Blackjack and Rhosgobel deposits at the Company’s flagship RC Gold Project, Yukon. Early success from the 60,000 metre drill program currently underway at the Project has identified multiple occurrences of visible gold in all the initial 2026 drill holes completed at both the Rhosgobel and Blackjack targets. Initial drilling at Rhosgobel also continues to intersect coarse scheelite mineralization (WO3), a common tungsten mineral. All assays for the initial drill holes completed this year are currently pending.
“Visual results from the initial 2026 drilling at our RC Gold Project are highly encouraging”, said Cor Coe, Director and CEO of Sitka Gold. “We continue to see multiple occurrences of visible gold in the initial 2026 drill core from both Blackjack and Rhosgobel, along with additional tungsten mineralization at Rhosgobel, as we continue to expand drilling beyond the known mineralized envelopes of these wide open deposits. With three gold deposits discovered to date and 60,000 metres of planned drilling currently underway at RC Gold, including 30,000 metres at Rhosgobel, we look forward to rapidly expanding our known gold deposits while we simultaneously drill other high-priority targets that we believe show strong potential to host additional gold deposits.”
Figure 1: Examples of visible gold* with bismuthinite from initial 2026 diamond drilling at Blackjack and Rhosgobel targets. Multiple occurrences of visible gold have been observed in all the 2026 drill holes completed to date at the Blackjack and Rhosgobel targets.
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*While visible gold observations are very encouraging and confirm the presence of gold mineralization, they are not intended to imply potential gold grades. Gold assays will be published after they are received from the lab for mineralized intervals in which visible gold particles were noted.
Figure 2: Long Section of the Clear Creek Intrusive Complex (CCIC) showing the distribution of the 60,000 m of planned drilling for 2026. To date, Sitka has discovered three gold deposits within the approximately 5 km x 12 km CCIC area (the Blackjack, Eiger and Rhosgobel deposits) and has outlined several other drill targets that the Company believes exhibit strong potential to host additional gold deposits. Drilling this year will primarily focus on continued expansion of the known gold deposits along with drilling at other high-priority targets within the CCIC.
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A total of six holes have been completed at the RC Gold Project this season with 4 additional holes currently in progress, for a total of 5,500 m drilled so far this year. Initial drilling at the Blackjack deposit targeted deep mineralization intersected in Hole 75 which intersected 45.0m of 4.52 g/t gold starting at 539.4m depth (See News Release Dated June 11, 2025) and Hole 76 which intersected 65.0m of 2.0 g/t gold from 806.0m including 8.0m of 4.80 g/t gold and 6.6m of 5.53 g/t gold starting at 817.0m and 859.7m respectively (See News Release Dated May 8, 2025). This initial drilling is designed to demonstrate the continuity of higher grade mineralization below the current pit constrained resource and demonstrate the potential for an underground resource at Blackjack.
Initial drilling at the Rhosgobel deposit is designed to further test near surface mineralization and intersect deeper mineralization below and to the south the current pit constrained inferred resource estimate of 2.25 million ounces of gold (100.68 Mt @ 0.70 g/t Au; see news release dated February 25, 2026). Drilling will continue to focus on expanding both the Blackjack and Rhosgobel deposits in the near term with additional drills arriving in the coming weeks to expand the program. All assays are pending.
Figure 3: A plan map of the Blackjack Deposits showing the location of the 2026 drilling (in progress/completed) to date.
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Figure 4: A cross section showing the visible gold observed in hole DDRCCC-26-121 at Blackjack. Multiple occurrences of visible gold have been observed in all the 2026 drill holes completed to date at Blackjack.
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Figure 5: A plan map of the Rhosgobel Deposit showing the location of the 2026 drilling (in progress/completed) to date.
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Figure 6: A cross section showing the visible gold observed in hole DDRCRG-26-044 at the Rhosgobel target. Multiple occurrences of visible gold have been observed in all the 2026 drill holes completed to date at Rhosgobel.
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Figure 7: An example of a large scheelite crystal, (top photo), illuminated by ultra-violet light in a quartz vein in drill core observed in drill hole DDRCRG-26-044. Scheelite is a common tungsten mineral. An example of visible gold (red Circle) observed among scheelite crystals illuminated by ultra-violet light in drill hole DDRCRG-26-044 from the Rhosgobel target is displayed in the bottom image.
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About the RC Gold Project
Sitka’s 100% owned, flagship RC Gold Project consists of a 447 square kilometre contiguous district-scale land package located in the heart of Yukon’s Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, 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 City. It is one of the largest consolidated land packages strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Project hosts an indicated MRE of 1,291,000 ounces of gold and an inferred MRE of 3,829,000 ounces of gold (see Table 3 below) hosted within three at surface, road accessible pit constrained deposits. The 2026, 60,000m drill program is focused on expanding all three known deposits in addition to testing other high potential targets in close proximity to the current resources.
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* Notes for Blackjack Resources:
- Mineral resource estimate prepared by Ronald G. Simpson of GeoSim Services Inc. with an effective date of January 21, 2025.
- Mineral Resources are estimated consistent with CIM Definition Standards and reported in accordance with NI 43-101.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- Mineral resources are constrained by an optimized pit shell using the following assumptions: US$2000/oz Au price; a 45° pit slope; assumed metallurgical recovery of 85%; mining costs of US$2.00 per tonne; processing costs of US$10.00 per tonne; G&A of US$4.00/t.
- The base case cut-off of 0.3 g/t Au is believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing.
- Totals may not sum due to rounding.
** Notes for Rhosgobel and Eiger Resources:
- Mineral resource estimate prepared by Ronald G. Simpson of GeoSim Services Inc. with an effective date of February 25, 2026.
- Mineral Resources are estimated consistent with CIM Definition Standards and reported in accordance with NI 43-101.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- Mineral resources are constrained by an optimized pit shell using the following assumptions: US$3000/oz Au price; a 45° pit slope; assumed metallurgical recovery of 85%; mining costs of US$2.50 per tonne; processing costs of US$14.00 per tonne; G&A of US$4.00/t.
- The base case cut-off of 0.3 g/t Au is based on a gold price of US$2500/oz and believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing.
- Totals may not sum due to rounding.
All of these deposits begin at surface and are potentially open pit minable. Initial bottle roll metallurgical testing confirmed the non-refractory characteristics of the gold mineralization and returned gold extraction rates averaging around 85% for the Blackjack and Eiger deposits. Further metallurgical testwork in 2024 for Blackjack and Eiger returned recoveries ranging from 77.6 to 93% for gravity followed by cyanidation. Initial bottle roll testing for Rhosgobel has confirmed non-refractory characteristics of the gold mineralization with two composite samples returning gold recoveries of 89% and 96%.
For the purposes of the current resource model, it is assumed that a likely mill flowsheet would consist of a gravimetric, flotation, and cyanidation circuit.
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- Canaccord Global Metals and Mining Conference: Henderson, NV: May 19 – 21, 2026
- TAKESTOCK Investor Series Stampede Special, Calgary, AB: June 30, 2026
- Yukon Mining Alliance – Property Tours and Conference, Dawson City, Yukon: July 12-15, 2026
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada. 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 is currently advancing its 100% owned, 447 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company has also announced plans to spin-out the Alpha Gold Project in Nevada and the Burro Creek Gold and Silver Project in Arizona into a new discovery-focused exploration company to be named at a later date.
A 60,000 metre diamond drilling program planned for 2026 is currently underway at the Company’s flagship RC Gold Project, located in Yukon Canada, where 4 diamond drill rigs are currently operating.
*For more detailed information on the Company’s properties please visit our website at www.sitkagoldcorp.com
The scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, P.Geo., V.P. Exploration of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
“Corwin (Cor) Coe“
CEO and Director
For more information, please contact:
Sitka Gold Corp.
+1-604-979-0509
info@sitkagoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding future plans, the advancement of the Company’s projects and anticipated work programs, ongoing drilling activities and management’s expectations and intentions.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will carry out its exploration plans as currently anticipated by management. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty, risks related to exploration activities and the results of the Company’s anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
