Mr. Donald Penner reports

SITKA GOLD CLOSES $2.05 MILLION FINANCING

Sitka Gold Corp. has closed its previously announced non-brokered private placement with certain existing strategic investors for aggregate gross proceeds of $2,055,000 through the issuance of 1.5 million flow-through (FT) common shares issued at a price of $1.37 per FT share. Each of the FT shares will qualify as flow-through shares within the meaning of the Income Tax Act (Canada).

"This financing, together with the financing that closed last week for $28.5-million, represents a pivotal milestone for Sitka, significantly strengthening our treasury to over $43-million and positioning the company to rapidly advance its flagship RC gold project," stated Cor Coe, chief executive officer and director of Sitka Gold.

"The proceeds from these financings will enable Sitka to plan the largest drill program ever conducted at RC gold. Up to 60,000 metres of diamond drilling is anticipated at RC gold in 2026, which will effectively double the total metres drilled to date and rank among the largest drill campaigns ever conducted in the Yukon. With 62 drill holes pending from RC gold and an additional seven drill holes pending from the Coppermine River project, we anticipate a steady flow of assay results following the close of this financing."

The company will use an amount equal to the gross proceeds from the sale of the FT shares to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures as such terms are defined in the tax act related to the company's RC gold project in Yukon, Canada, on or before Dec. 31, 2026. All qualifying expenditures will be renounced in favour of the subscribers effective Dec. 31, 2025.

The offering remains subject to final acceptance from the TSX Venture Exchange. All securities issued pursuant to the offering are subject to a hold period expiring on March 6, 2026. No finders' fees were paid in respect of the offering.

The company wishes to clarify its previously disseminated news release dated Oct. 30, 2025, announcing the closing of its $28.5-million financing. The news release inadvertently disclosed that the company issued an aggregate of 974,000 compensation options to the underwriters. The actual number of compensation options issued in connection with the brokered offering was 974,100.

About Sitka Gold Corp.

Sitka Gold is a well-financed mineral exploration company headquartered in Canada with over $43-million in its treasury and no debt. 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-per-cent-owned, 431-square-kilometre flagship RC gold project, located within the Tombstone gold belt in Yukon. The company is also advancing the Alpha gold project in Nevada, and currently has drill permits for its Burro Creek gold and silver project in Arizona, and the Coppermine River project in Nunavut, all of which are 100 per cent owned by Sitka.

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