Mr. Cor Coe reports

SITKA GOLD CORP. ANNOUNCES LISTING ON THE TSX VENTURE EXCHANGE AND APPOINTS ANGUS CAMPBELL TO THE BOARD OF DIRECTORS

Sitka Gold Corp. has received approval to list its common shares on the TSX Venture Exchange following satisfaction of regulatory requirements. The shares will be delisted from the Canadian Securities Exchange at the close of markets on March 4, 2024, and begin trading on the TSX-V at the open of markets on March 5, 2024.

"We are looking forward to working with the TSX-V and expect this listing to improve the company's visibility across both domestic and international capital markets," stated Cor Coe, director and chief executive officer of Sitka. "With exposure to a broader base of potential investors, we believe this will provide a means of expanding the company's investor base, and ultimately assist in unlocking the value of Sitka's gold discoveries in the Yukon and Nevada along with the other mineral assets within its portfolio of projects."

Upon listing, the company's trading symbol, SIG, will remain unchanged and shareholders will not be required to take any action in connection with the company's listing on the TSX-V. The shares will also continue to be listed on the OTCQB Marketplace in the United States under the symbol SITKF and on the Frankfurt Stock Exchange under the symbol 1RF.

Appointment of new director

The company is also pleased to announce the appointment of Angus Campbell, PGeo, to the board as a director.

Mr. Campbell is a professional geologist with over 30 years of global project experience. He has extensive exploration and operational knowledge gained by working on greenfield, brownfield and mine development projects. Most recently, he was vice-president of exploration for Sabina Gold and Silver Corp., which was acquired by B2Gold Corp. in 2023 for $1.2-billion. During his 10 years with Sabina, Mr. Campbell led exploration initiatives that resulted in a new deposit discovery and over 2.5 million ounces of resource growth. Prior to Sabina, Mr. Campbell was exploration manager for Chile with BHP Billiton, based in Santiago. Throughout his career, he has held senior technical positions with a focus on health, safety, environment and community, and business development and discovery. He has worked throughout North and South America, and parts of Asia. Mr. Campbell was a member of Rio Algom's Spence copper deposit discovery team in Chile, which was honoured with the PDAC (Prospectors & Developers Association of Canada) Bill Denis award in 1998. Mr. Campbell holds a BSc in geology and is a registered professional geoscientist with the Association of Professional Engineers and Geoscientists of British Columbia.

Mr. Coe, director and chief executive officer of Sitka, stated: "We are very excited to welcome Angus Campbell to the board of directors. His distinguished career brings an incredible amount of experience and knowledge to our team at a key stage in the company's growth. We look forward to working with Angus as we continue to advance the major gold discovery at our flagship RC gold project in Yukon, and unlock value across our portfolio of other mineral properties."

In connection with the appointment of Mr. Campbell to the board, the company has granted Mr. Campbell 400,000 incentive stock options. The options are exercisable at 14 cents per share for a period of three years from the date of grant, and are subject to the terms and conditions of the company's new stock option plan. In order to comply with applicable TSX Venture Exchange policies, the company adopted a new 10 per cent rolling stock option plan, which will be put to shareholders for approval on an annual basis in accordance with TSX-V policies.

Upcoming events

Sitka Gold will be attending and/or presenting at the following events:

• Tombstone Gold Rush Breakfast -- Fireside Chat -- Toronto, Ont., March 5, 2024;
• Invest Yukon Precious Metals Luncheon -- Toronto, Ont., March 5, 2024;
• PDAC, Toronto, Ont., March 3 to March 6, 2024:
  • Exhibitor booth No. 2346: March 3 to March 6;
  • One-on-one meeting program: March 4 to March 5;
  • Core shack booth No. 3310: March 3 to March 4.
• Swiss Mining Institute, Zurich, Switzerland: March 20 to March 21, 2024;
• 121 Mining Investment, London, England: May 16 to May 17, 2024.

Note: All events are subject to change.

Agreement for investor relations services

The company announces that it has entered into an investor relations agreement with Jennifer Coe, BSc, pursuant to which the consultant has agreed, effective Sept. 1, 2023, to provide marketing and shareholder communications services to the company for a term of 12 months, and thereafter for subsequent terms of six months, subject to termination in accordance with the terms of the IR agreement.

The consultant has been engaged to heighten market awareness for the company and to broaden the company's reach within the investment community. In conducting her marketing and communications program, the consultant will employ a number of different communication methods, including digital marketing, broadcasting, newsletter dissemination, phone calls and e-mails.

The consultant brings over 15 years of marketing experience to Sitka from a variety of industries, including nine years as director of member services at Hollyburn Country Club in West Vancouver, where she managed marketing, communications and public relations. In the past four years she has been actively involved in the junior mining sector, and now will focus on leading Sitka's major marketing, branding and communication initiatives.

The company will pay the consultant a monthly cash fee of $5,000, which the company intends to pay out of its general working capital account. Pursuant to the IR agreement, and subject to the approval of the company's board, and the necessary regulatory consents and approvals, the company may issue to the consultant, from time to time, options to purchase shares in accordance with the terms and conditions of the company's stock option plan.

The company and the consultant act at arm's length. The consultant currently holds: (i) 200,000 options with an exercise price of 19 cents, expiring on April 6, 2026; (ii) 50,000 options with an exercise price of 12 cents expiring on Feb. 25, 2025; and (iii) 200,000 options with an exercise price of 20 cents expiring on Jan. 4, 2027. The consultant has no other interest in the company or its securities, or any right to or intent to acquire such an interest at this time.

The consultant has agreed to comply with all applicable securities laws and the policies of the TSX-V in providing the services to the company.

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, Bee Bop, Barney Ridge and OGI properties in Yukon, and the Burro Creek gold and silver property in Arizona. Sitka owns a 100-per-cent interest in its Clear Creek and Mahtin properties in Yukon, the Alpha gold property in Nevada, and the Coppermine River project in Nunavut.

The company recently announced a National Instrument 43-101-compliant initial inferred mineral resource estimate of 1.34 million ounces (Moz) of gold beginning at surface and grading 0.68 gram per tonne (g/t) at its RC gold project in Yukon (see news release dated Jan. 19, 2023). A total of approximately 6,500 metres of additional diamond drilling within 16 drill holes has been completed at RC gold since the announcement of the mineral resource estimate.

The scientific and technical content of this news release has been reviewed and approved by Mr. Coe, PGeo, director and CEO of the company, and a qualified person (QP) as defined by National Instrument 43-101.

We seek Safe Harbor.