Sitka Gold Completes Acquisition of 100% Interest in the Clear Creek Property at Its RC Gold Project, Yukon
Rhea-AI Summary
Sitka Gold (OTCQX: SITKF) has completed its accelerated acquisition of a 100% interest in the Clear Creek Property from the Receiver of Victoria Gold, following an Ontario Superior Court approval and vesting order on August 18, 2026. This consolidates Sitka’s 100% ownership of the contiguous 447 km² RC Gold Project in Yukon.
Clear Creek hosts the Rhosgobel deposit plus the Pukelman-Contact and Bear Paw Breccia targets, where drilling is underway. A 60,000 m 2026 diamond drill program is in progress, with about 37,000 m (76 holes) completed. RC Gold currently has an indicated MRE of 1.291 Moz gold and an inferred MRE of 3.829 Moz gold in three at-surface, pit-constrained deposits, supported by metallurgical tests showing gold recoveries generally around 77–96%.
Positive
- RC Gold Project now 100% owned over a 447 km² land package
- Project hosts indicated 1.291 Moz and inferred 3.829 Moz of gold
- 2026 RC Gold drill program totals 60,000 m, with 37,000 m completed
- Strong drill intercepts up to 348 m of 1.12 g/t Au at Blackjack
- Metallurgical gold recoveries range up to 96% at Rhosgobel
- Seven diamond drill rigs currently operating across multiple RC Gold targets
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2026) - Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQX: SITKF) ("Sitka" or the "Company") is pleased to announce that it has completed its previously announced accelerated acquisition of a
"We are very pleased to announce that the accelerated acquisition of the Clear Creek Property is now complete," stated Cor Coe, Director and CEO of Sitka Gold. "The Clear Creek Property has become a key component of the consolidated land package comprising the RC Gold Project and, with
Figure 1: Plan Map showing the outline of the Clear Creek Property and the locations of several of the intrusion targets and the current gold resources within the Clear Creek Intrusive Complex. A 60,000 metre diamond drilling program planned for 2026 will focus on further expansion of the 2 km long Blackjack-Eiger area with 15,000 metres of drilling. An additional 30,000 metres of drilling is planned at Rhosgobel to follow up on the initial diamond drilling conducted by Sitka in 2025. 10,000 metres of drilling has been allocated for the Pukelman-Contact zone and 5,000 metres of drilling will follow up on initial drilling results from Bear Paw and test other high-priority targets.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/310570_7a5680bf74221a46_002full.jpg
RC Gold Project Update
The 2026 drill program at the RC Project continues to successfully intersect broad zones of Reduced Intrusion-Related Gold (RIRG) mineralization at the Blackjack, Eiger, and Rhosgobel deposits and continues to expand and define the known gold mineralization at each area. Highlights to date include: Drill hole DDRCCC-26-132, which intersected 218.6 metres of 1.25 g/t gold, including 44.4 metres of 3.86 g/t gold, and returned a second, separate interval of 92.7 metres of 1.14 g/t gold (see press release dated August 10, 2026) and drill hole DDRCCC-26-128 which intersected 348.0 metres of 1.12 g/t gold, including 164.0 metres of 1.83 g/t gold, 45.0 metres of 3.49 g/t gold, 2.0 metres of 15.35 g/t gold and 2.0 metres of 13.65 g/t gold (see press release dated July 13, 2026) at Blackjack. The program will continue to define these broad zones of mineralization as well as target new zones of previously defined mineralization such as the Pukelman-Contact zones, Saddle zone and Bear Paw Breccia zone. To date this year, approximately 37,000 metres of drilling and 76 drill holes have been completed across the deposits as part of a planned 60,000 metre drill program for 2026.
About the RC Gold Project
Sitka's
The RC Gold Project hosts an indicated MRE of 1,291,000 ounces of gold and an inferred MRE of 3,829,000 ounces of gold (see Table A below) hosted within three at-surface, road-accessible pit constrained deposits. The 60,000 metre drill program planned for 2026 is focused on expanding all three known deposits in addition to testing other high potential targets in close proximity to the current resources.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/310570_7a5680bf74221a46_003full.jpg
* Notes for Blackjack Resources:
- Mineral resource estimate prepared by Ronald G. Simpson of GeoSim Services Inc. with an effective date of January 21, 2025.
- Mineral Resources are estimated consistent with CIM Definition Standards and reported in accordance with NI 43-101.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- Mineral resources are constrained by an optimized pit shell using the following assumptions: US
$200 0/oz Au price; a 45° pit slope; assumed metallurgical recovery of85% ; mining costs of US$2.00 per tonne; processing costs of US$10.00 per tonne; G&A of US$4.00 /t. - The base case cut-off of 0.3 g/t Au is believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing.
- Totals may not sum due to rounding.
** Notes for Rhosgobel and Eiger Resources:
- Mineral resource estimate prepared by Ronald G. Simpson of GeoSim Services Inc. with an effective date of February 25, 2026
- Mineral Resources are estimated consistent with CIM Definition Standards and reported in accordance with NI 43-101.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- Mineral resources are constrained by an optimized pit shell using the following assumptions: US
$300 0/oz Au price; a 45° pit slope; assumed metallurgical recovery of85% ; mining costs of US$2.50 per tonne; processing costs of US$14.00 per tonne; G&A of US$4.00 /t. - The base case cut-off of 0.3 g/t Au is based on a gold price of US
$250 0/oz and believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing. - Totals may not sum due to rounding.
All of these deposits begin at surface and are potentially open pit minable. Initial bottle roll metallurgical testing confirmed the non-refractory characteristics of the gold mineralization and returned gold extraction rates averaging around
For the purposes of the current resource model, it is assumed that a likely mill flowsheet would consist of a gravimetric, flotation, and cyanidation circuit.
Upcoming Events
Sitka will be attending and/or presenting at the following events*:
- Precious Metals Summit: Beaver Creek, Colorado: September 22 - 25, 2026
- Denver Gold Show: Colorado Springs, Denver: September 27 - 30, 2026
- Nordic Funds and Mines: Stockholm, Sweden: October 15 - 16, 2026
- Yukon Geoscience Forum: Whitehorse, Yukon: November 16 - 19, 2026
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded 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 is currently advancing its
A 60,000 metre diamond drilling program planned for 2026 is currently underway at the Company's flagship RC Gold Project, located in Yukon, Canada, where seven diamond drill rigs are currently operating.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com.
All scientific and technical content of this news release has been reviewed and approved by Cor Coe, P.Geo., Director and CEO of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Cor Coe"
CEO and Director
For more information, please contact:
Sitka Gold Corp.
+1-604-979-0509
info@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 future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to the Company's work programs, including the diamond drilling program and the potential for expansion of additional deposits.
All forward-looking statements are based on the Company's current beliefs, as well as various assumptions made by it and information currently available to it, including assumptions that the Company will continue to carry out its work program as currently planned. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
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 and uncertainties include, among other things, risks related to exploration activities and the results of the Company's anticipated work programs, risks relating to mineral resource estimates, commodity price and capital market risks, changes in general economic and mining industry conditions, and the other risks described in the Company's public disclosure record. 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. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310570