VANCOUVER, CANADA – TheNewswire - November 5, 2025 - Sitka Gold Corp. (“Sitka” or the “Company”) (TSX-V:SIG) is pleased to announce it has closed its previously announced non-brokered private placement with certain existing strategic investors for aggregate gross proceeds of $2,055,000 (the “Offering”) through the issuance of 1,500,000 flow-through common shares (each, a “FT Share”) 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) (the “Tax Act”).

 

"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, CEO 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 7 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 (the “Qualifying Expenditures”) related to the Company’s RC Gold Project in the Yukon Territory, Canada on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 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 finder’s fees were paid in respect of the Offering.

 

The securities offered pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

 

The Company wishes to clarify its previously disseminated news release dated October 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 Corp. is a well-funded 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% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. 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% owned by Sitka.

 

*For more detailed information on the Company’s properties please visit our website at www.sitkagoldcorp.com  

 

ON BEHALF OF THE BOARD OF DIRECTORS OF SITKA GOLD CORP.

 

“Donald Penner”

President and Director

 

For more information contact:

 

Donald Penner                                 or                         Cor Coe

President & Director                                                  CEO & Director

778-212-1950                                                          604-817-4753

dpenner@sitkagoldcorp.com                                          ccoe@sitkagoldcorp.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  

 

Cautionary and Forward-Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding: the tax treatment of the FT Shares; the timeline that the Company will renounce all Qualifying Expenditures in favour of the subscribers of the Offering; the use of proceeds of the Offering; discussions of future plans, including estimates and forecasts and statements as to management’s expectations and intentions and the Company’s anticipated work programs.

 

Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including, among other things, that: the Company’s planned exploration activities will be completed in a timely manner; the timing to incur and renounce Qualifying Expenditures will be as currently anticipated;  the Company will use the proceeds of the Offering as anticipated; and the Company will receive the necessary regulatory approvals with respect to the Offering.

 

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks include, among others: the risk that the Company will not be able to use the proceeds of the Offering as anticipated; the risk that the Company will not receive the necessary approvals in respect of the Offering; risks relating to the tax treatment of FT Shares and the timing to incur and renounce Qualifying Expenditures; risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

 

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.