Mr. Donald Penner reports

SITKA GOLD ANNOUNCES UP TO $1.25M PRIVATE PLACEMENT

Sitka Gold Corp. has arranged a non-brokered private placement of flow-through (FT) units at a price of 18 cents per FT unit, for aggregate gross proceeds of up to $1.25-million.

Each FT Unit will consist of one flow-through common share in capital of the corporation and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one non-flow-through Common Share (a "Common Share") at a price of $0.36 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 may pay a finder's fee on a portion of the gross proceeds of the Offering. The Offering remains subject to regulatory approval and the approval of the Canadian Securities Exchange (" CSE ").

The Company intends to use the net proceeds of the Offering for exploration and related programs on the Company's Yukon gold properties which qualify as "Canadian Exploration Expenses" as such term is defined in paragraph (f) of the definition of "Canadian exploration expense" in subsection 66.1(6) of the Income Tax Act (Canada) (the "Tax Act") and "flow through mining expenditures" as defined in subsection 127(9) of the Tax Act that will qualify as "flow-through mining expenditures", which will be incurred on or before December 31, 2024 and renounced with an effective date no later than December 31, 2023, to the purchasers of FT Units.

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 currently has an option to acquire a 100% interest in the RC, Barney Ridge, Clear Creek and OGI properties in the Yukon and the Burro Creek Gold property in Arizona. Sitka owns a 100% interest in its Alpha Gold property in Nevada, its Mahtin Gold property in the Yukon and its Coppermine River project in Nunavut.

We seek Safe Harbor.