Sitka Gold to Accelerate Acquisition of 100% Interest in the Clear Creek Property at Its RC Gold Project, Yukon

Sitka Gold Corp. has entered into an arrangement and separation agreement to accelerate the acquisition of a 100% interest in the Clear Creek Property from the Receiver of Victoria Gold Corp. The transaction consolidates Sitka's 100% ownership of the contiguous 447-square-kilometre RC Gold Project in the Yukon.

Financial terms include a $6,000,000 cash payment at closing and the granting of a 5.0% Net Smelter Return (NSR) royalty. Sitka holds an option to reduce the NSR to 2.0% via a $10,000,000 one-time cash payment at any time after closing. Closing is conditional on an approval and vesting order from the Ontario Superior Court of Justice.

The release reiterates the mineral resource base (2.25 moz inferred at Rhosgobel) and confirms the ongoing 60,000m drilling program with 30,000m completed and six rigs active.

Sitka Gold Corp. (SIG) has completed an acquisition that resolves lingering title uncertainty linked to the Victoria Gold receivership, securing strategic clarity over its entire 447 sq km land package. The transaction involves a $6M cash outlay, which is manageable against a reported treasury of approximately $43-45M, though it represents a tangible drag on liquidity that will be further tested by the company’s ongoing $18.5M annual drilling budget.

As part of the deal, Sitka Gold agreed to a 5.0% NSR royalty, a standard industry practice that will permanently reduce future cash flows from the Clear Creek portion of the project. The agreement includes an option to buy down the royalty to 2.0% for $10M, providing flexibility but requiring significant future capital.

This announcement serves as a follow-up to previously disclosed receivership proceedings and expected consolidation. Because the news formalizes ownership without introducing new geological data or revised resource estimates, the immediate market-moving impact is considered limited, with the market likely having already priced in the resolution of the title issue.

Sitka Gold Corp. is an exploration-stage company focused on the RC Gold Project in the Tombstone Gold Belt, Yukon. The project comprises a 447 sq km contiguous land package with multiple intrusion-related gold targets: Blackjack, Rhosgobel, Eiger, Pukelman-Contact, and Bear Paw Breccia.

The company has transitioned from grassroots discovery to resource definition, with a maiden MRE of 1.29 moz Indicated and 3.83 moz Inferred gold. Metallurgical testing confirms non-refractory characteristics with gold recoveries averaging 85-94% via gravity/cyanidation. Tungsten (WO3) has been identified as a potential by-product at Rhosgobel, with ~84.7% recovery in initial flotation tests.

The project is road-accessible, at-surface, and potentially open-pit minable, positioning it for a future PEA.