Mr. Donald Penner reports

SITKA GOLD CORP. ANNOUNCES FULLY SUBSCRIBED $4M PRIVATE PLACEMENT

Sitka Gold Corp. has a fully subscribed non-brokered private placement of 22,222,222 units at a price of 18 cents per unit, for aggregate gross proceeds of $4-million.

Each unit will consist of one common share in capital of the corporation and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of 36 cents per common share for a period of 24 months from the date of issuance.

The securities offered pursuant to offering will be subject to a statutory hold period of four months and a day from the date of issuance. The company expects to complete the offering on Tuesday, Aug. 29, 2023, in accordance with Canadian Securities Exchange policies. No finders' fees, commission, bonus, agent's option or other compensation will be paid in connection with the offering. The offering remains subject to regulatory approval and the approval of the CSE.

The company intends to use the net proceeds of the offering for exploration work on its mineral properties, including the RC gold project in Yukon, and for general working capital.

About Sitka Gold Corp.

Sitka Gold Corp. is a well-financed 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.

We seek Safe Harbor.