Sitka Drills 236.0 Metres of 1.15 g/t Gold, Including 71.0 Metres of 2.79 g/t Gold and 36.3 Metres of 3.31 g/t Gold, at the Saddle Zone and Continues to Expand the Eiger Deposit at Its RC Gold Project, Yukon

Sitka Gold Corp. (SIG) reported results from four diamond drill holes, comprising one at the Saddle Zone and three at or near the Eiger deposit.

• Hole DDRCCC-26-156 (Saddle): 236.0 m @ 1.15 g/t Au, including 71.0 m @ 2.79 g/t Au, including 36.3 m @ 3.31 g/t Au and 21.9 m @ 3.25 g/t Au; separate interval below, 34.0 m @ 1.11 g/t Au from 543.0 m. No from-depth given for the main interval.
• Hole DDRCCC-26-150 (Eiger): 45.5 m @ 1.16 g/t Au from 182.5 m, including 4.5 m @ 9.26 g/t Au and 1.5 m @ 24.80 g/t Au; second interval 16.4 m @ 1.95 g/t Au from 303.6 m, including 1.5 m @ 13.45 g/t Au.
• Hole DDRCCC-26-155 (Eiger): 18.1 m @ 2.36 g/t Au from 287.0 m.
• Fourth hole: assay results announced, no material interval highlighted in the release.

The company stated that approximately 58,000 meters across 143 holes have been completed out of a planned 60,000 meters. Results have been released for 59 holes, with 84 pending, and six rigs are currently active. Geologically, Sitka Gold asserted that a dominant lamprophyre dyke runs continuously from Blackjack through Saddle to Eiger, spanning approximately 2 kilometers and acting as a structural conduit that projects east to the Josephine Intrusion.

The release reiterated the Mineral Resource Estimate (MRE) of 1,291,000 ounces in the Indicated category and 3,829,000 ounces in the Inferred category. As this was a drilling-results release rather than an earnings report, no financial results were assessed; prior-period financial context was provided only in the Appendix notes.

Sitka Gold Corp. (SIG) reported that recent drilling improves the likelihood that the Saddle waste block within the existing Blackjack pit shell converts to mineralisation at grades above the resource average. This conversion would add near-surface tonnes without requiring incremental stripping, a factor that positively impacts the Mineral Resource Estimate (MRE). The results also strengthen the continuity case for the Blackjack-Saddle-Eiger trend, with a drill hole at Saddle performing better than any previously shown. The company noted that the discovery does not add a new zone, depth horizon, intrusive centre, or represent a step change in grade or scale.

The stock was trading at C$1.15 on 14 October 2025 and stood at C$0.96 on 13 October 2026, representing a decline of approximately 17% over the year. The share price is 21% below its 52-week high of C$1.22 and 25% above its 52-week low of C$0.77. A release on 21 September 2026, which included 141.5 m @ 1.93 g/t at Blackjack plus 550 m of strike at Saddle, moved the stock from C$1.00 to C$1.07 and then to C$1.14 on 22 September, a two-day increase of approximately 14%. That gain has since fully round-tripped back to C$0.96. The market has not paid a premium for drill holes at this project, instead waiting for the resource update and economic studies. The release is considered incremental within a known corridor, with one of four holes being strong and 84 holes pending.

Sitka Gold Corp. is an explorer with 5.12 moz of pit-constrained resources, C$44.6M in cash at FY2025 (C$25M per the August 2026 presentation), no debt, no reserves, no Preliminary Economic Assessment (PEA), and no economics. At this stage, single holes inside a defined resource are routine, with the MRE update and PEA in early 2027 identified as the material events. The implied value of approximately C$80/oz of resource at a C$417M market cap is not at a distressed level that would allow a merely in-line hole to re-rate the stock.

Based on 433,899,344 shares as per the September 2026 presentation, the market capitalization is approximately C$417M at C$0.96 per share. Using the FY2025 share count of 418,367,803 results in a market cap of approximately C$402M. Fully diluted shares total 465.3M, including 13.7M warrants at an average price of C$0.36 and 17.75M options, representing a deep-in-the-money overhang.

Sitka Gold Corp. (TSXV: SIG / FSE: 1RF / OTCQX: SITKF) is a Yukon-focused gold explorer. The company’s flagship 100%-owned RC Gold Project is a 447 sq km contiguous package located in the Tombstone Gold Belt, approximately 100 km east of Dawson City. The property is road-accessible year-round via the Klondike Highway and Clear Creek Road, situated midway between the Eagle Gold Mine and the past-producing Brewery Creek mine.

The project features three at-surface, pit-constrained deposits. Blackjack contains 1,291,000 oz Indicated @ 1.01 g/t and 1,044,000 oz Inferred @ 0.94 g/t, effective 21 Jan 2025. Rhosgobel holds 2,250,000 oz Inferred @ 0.70 g/t, effective 25 Feb 2026, with silver and tungsten excluded from this gold-only MRE. Eiger contains 535,000 oz Inferred @ 0.52 g/t. Combined, these deposits total 1.29 moz Indicated and 3.83 moz Inferred, for a combined 5.12 moz.

In August 2026, Sitka Gold closed a Phase-2 acquisition of the Clear Creek property from the Victoria Gold receivership for US$6M cash plus a 5.0% NSR, reducible to 2.0% for $10M, consolidating 100% ownership. The company also holds non-core assets Alpha Gold in Nevada, a Carlin-style property, and Burro Creek in Arizona, a historical Au-Ag resource, both of which are slated for spin-out.

Metallurgical testing indicates non-refractory ore with 77.6-93% Au recovery at Blackjack and Eiger, and 94.3% Au plus 84.7% W at Rhosgobel. The management team includes CEO and P.Geo Cor Coe, President Donald Penner, VP Exploration Gilles Dessureau, and VP Corp Dev Mike Burke.

No reserves, PEA, NPV, IRR, AISC, or mine-life figures are disclosed in the provided materials, with a PEA guided for early 2027. For FY2025, the company reported a net loss of C$5.93M and EPS of -C$0.02. Cash holdings stood at C$44.57M, with C$25M noted in the August 2026 presentation. The company has no debt, raised C$50.67M in financing, and capitalized C$18.56M in exploration. The book value is C$0.20/share, representing a P/B of approximately 4.8 at C$0.96.