- Tim Termuende appointed to the Board of Directors as Chairman
- 60,000 metre diamond drill program completed at Sitka's flagship RC Gold Project
- Mineralized lamprophyre with visible gold discovered at the Pukelman intrusion
- Results pending for 90 diamond drill holes totalling approximately 30,242 metres
Vancouver, British Columbia--(Newsfile Corp. - October 27, 2026) - The Board of Directors of Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQX: SITKF) ("Sitka" or "Sitka Gold" or the "Company") is pleased to announce that it has completed its planned 60,000 metre diamond drilling program at its 100% owned, road accessible RC Gold Project in Yukon and announces the immediate appointment of Tim Termuende to its Board of Directors, where Mr. Termuende will serve as the Company's Chairman.
Update on the 2026 Exploration Program at RC Gold
The Company is pleased to announce the successful completion of its planned 60,000 metre drill program at RC Gold this year. A total of 59,531 metres of diamond drilling comprising 149 diamond drill holes were completed with results from a total of 59 holes being received and announced to date. The most recent drill hole results were announced on October 14, 2026 and included impressive intervals from diamond drill hole DDRCCC-26-156 that returned 236.0 metres of 1.15 g/t gold, including 71.0 metres of 2.79 g/t gold and 36.3 metres of 3.31 g/t gold, representing some of the best results seen to date from the Saddle Zone (see news release dated October 14, 2026). Results from the remaining 90 drill holes totalling approximately 30,242 metres are pending.
The 2026 drilling program has continued to intersect broad zones of reduced intrusion-related gold mineralization in all target zones (Rhosgobel, Blackjack, Saddle, Eiger, Pukelman/Contact, and Bear Paw) such as sheeted and stockwork veins and breccia zones with bismuthinite and visible gold. A notable gold vein has also been discovered in hole DDRCCC-26-190 within a mineralized lamprophyre at the Pukelman intrusion (see Figures 1 and 2). Lamprophyre dykes have been shown to mark major conduits for gold mineralization within the Clear Creek Intrusive Complex (CCIC), with a dominant lamprophyre recently confirmed to run from the Blackjack deposit, through the Saddle Zone and into the Eiger deposit, providing a clear linkage between these two gold deposits. Seeing visible gold of this magnitude within a lamprophyre dyke at the Pukelman intrusion is an exciting development and reflects the robust nature of this gold system. The widespread gold mineralization that has been traced across these multiple deposits and target areas further reflects the impressive scale of the mineralizing system within the core of the CCIC (see Figure 4).
Drilling from this year's 60,000 metre program will be used to update and upgrade the existing mineral resource estimates at the Blackjack (including the Saddle Zone), Eiger and Rhosgobel gold deposits and evaluate the potential to produce an initial resource estimate at the Pukelman/Contact and Bear Paw Breccia targets.
For additional pictures of visible gold in drill holes that have been announced to date please visit the Company's website at sitkagoldcorp.com or CLICK HERE*.
* 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 1: Drill core showing megacrystic quartz monzonite and lamprophyre from DDRCCC-26-190 and the location of a visible gold vein discovered at 150.26 metres at the Pukelman intrusion (see Figure 2).
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Figure 2: Image of the gold vein discovered at 150.26 metres in DDRCCC-26-190 at the Pukelman intrusion.
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"The successful completion of our 60,000 metre drill campaign has effectively doubled the total amount of diamond drilling previously completed at RC Gold and marks a major milestone for Sitka," commented Cor Coe, Director and CEO. "This was one of the largest drill programs ever completed in the Yukon, a remarkable achievement made possible by the determination, hard work and exceptional execution of our field team and drilling and support contractors.
"Results to date of this program continue to demonstrate the continuity and district-scale growth potential of RC Gold. Visible gold has been observed in the majority of holes completed across the Clear Creek Intrusive Complex this year, including the visible gold vein discovered within a lamprophyre dyke at the Pukelman intrusion which is an exciting new development there and another reminder of just how impressive this large gold system is. With results from 90 holes still pending, we look forward to a significant pipeline of assays to release over the coming weeks and months."
Figure 3: Plan map of the drilling completed at the Pukelman/Contact target area, highlighting DDRCCC-26-190 where a visible gold vein was observed in a newly discovered mineralized lamprophyre dyke.
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Figure 4*: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the updated resource areas at Blackjack and Eiger, the initial resource at Rhosgobel and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC, all of which are connected by the road network on the project and occur in an area measuring approximately five (5) km north-south by twelve (12) km east-west.
To view an enhanced version of this graphic, please visit:
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* References for Figure 4 drilling intervals:
Rhosgobel Intervals: Sitka Gold News Release dated November 25, 2024
Pukelman Intervals: Sitka Gold News Release dated January 7, 2025
Contact Intervals:
O'Brien, 2010; Assessment Report, 2010 Diamond Drilling Program, Clear Creek Property (Assessment Report 095539)
Shutty, 2011; Assessment Report, 2011 Exploration Program, Clear Creek Property (Assessment Report 095984)
Bear Paw Intervals: Shutty, 2011; Assessment Report, 2011 Exploration Program, Clear Creek Property (Assessment Report 095984)
Figure 5: Longitudinal section showing drill holes across several of the intrusion targets and the current gold resources within the Clear Creek Intrusive Complex
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Board and Chairman Appointment
The Company is also pleased to announce the immediate appointment of Tim Termuende to its Board of Directors. Mr. Termuende will also serve as the Company's Chairman.
Mr. Termuende is a professional geologist with over 50 years' experience in the mineral exploration industry. Mr. Termuende obtained his degree in geology at the University of British Columbia and after employment by Cominco in the late 1980s, actively worked as an exploration geologist on projects throughout North and South America and toured mining and exploration projects around the world. He has been involved with numerous publicly traded companies since 1994. As co-founder and former CEO of Eagle Plains Resources, he oversaw multiple corporate spinouts, including Copper Canyon Resources, Taiga Gold Corp. and most recently Eagle Royalties Ltd. Mr. Termuende currently serves as Executive Chairman of Eagle Plains Resources Ltd. and as Chairman of Trident Resources Corp.
"I am honoured to be named Chairman of Sitka Gold," commented Tim Termuende, Chairman of Sitka Gold. "Since participating in the Initial Public Offering in 2018 I have been an enthusiastic shareholder and followed the exponential progress of the Company since then, also serving as a member of the Advisory Board for the past three years. I welcome the opportunity to become more active with Sitka as a director and officer and look forward to collaborating with management and the Board as the Company continues to grow."
"We are very pleased to welcome Tim to the Board as Chairman," commented Cor Coe. "Tim brings a wealth of exploration experience and an exceptional track record of building companies and creating shareholder value. Tim has been a long-time shareholder and a valuable member of our Advisory Board and we look forward to his continued guidance as Sitka enters its next phase of growth."
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 two-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 Gold 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 A below) hosted within three at-surface, road-accessible pit-constrained deposits. The 60,000 metre drill program completed in 2026 was focused on expanding all three known deposits in addition to testing other high potential targets in close proximity to the current resources.
Table A: Summary of Gold Mineral Resources at the RC Gold Project
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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%. Additional metallurgical testing at Rhosgobel has returned an average gold recovery of 94.3% using conventional whole ore cyanidation leaching and an initial recovery of 84.7% tungsten in rougher concentrate using conventional flotation. Metallurgical testing for potential silver recovery has not yet been completed.
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*:
Yukon Geoscience Forum: Whitehorse, Yukon: November 16 - 19, 2026
121 Mining Investment Conference: London, England: November 23 - 24, 2026
Vancouver Resource Investment Conference: Vancouver, BC: January 24 - 25, 2027
AME RoundUp: Vancouver, BC: January 25 - 28, 2027
*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 has now been completed at the Company's flagship RC Gold Project, located in Yukon, Canada, where up to seven diamond drill rigs were operating for several months.
For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com
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", or "would" 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.
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