Mr. Donald Penner reports

SITKA GOLD CORP. ANNOUNCES UP TO $2M PRIVATE PLACEMENT

Sitka Gold Corp. has arranged a non-brokered private placement of charity flow-through units (charity FT units) at a price of 20 cents per charity FT unit, for aggregate gross proceeds of up to $2-million.

Each charity FT unit will be issued as part of a charity arrangement and will consist of one flow-through common share in capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one non-flow-through common share at a price of 37 cents per warrant 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 comprising cash and/or warrants on a portion of the gross proceeds of the offering as may be agreed between the company and eligible finders. 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 on its exploration and related programs on the company's Yukon gold properties, which expenditures will 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) and flow-through mining expenditures as defined in Subsection 127(9) of the Tax Act, which will be incurred on or before Dec. 31, 2024, and renounced with an effective date no later than Dec. 31, 2023, to the purchasers of charity FT units.

About Sitka Gold Corp.

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

We seek Safe Harbor.