SITKA GOLD CORP

Sitka announced on July 28, 2026 that it had accelerated acquisition of a 100% interest in the Clear Creek Property from the Receiver of Victoria Gold Corp. (Figure 2)  This transaction completes Sitka’s acquisition of all of the properties comprising the contiguous 447-square-kilometre RC Gold Project in Yukon, consolidating Sitka’s 100% ownership of the project.

Sitka will pay CDN$6 million in cash and deliver a 5.0% NSR royalty on the Clear Creek Property at closing. Sitka will retain the right to reduce the 5.0% NSR royalty on the Clear Creek Property to 2.0% by making a one-time cash payment of $10 million. Sitka will also hold a right of first refusal over the sale of the royalty.  The CDN$6 million payment under the original purchase agreement announced June 24, 2024 was due to be paid on or before June 24, 2027.

Comments

This agreement consolidates Sitka’s 100% ownership of the Clear Creek Property which hosts the important Blackjack and Eiger deposits and Sitka.  The royalty is manageable with the buyback option as there is already a significant resource on the property.  Having 100% control of the entire RC Project will benefit Sitka considerably going forward.

As of year end March 31, 2026, Sitka had CDN$43.5M in cash so is well financed to complete this agreement and carryout its planned 60,000m diamond drilling program.  To July 14, 2026, the Company reported that it had completed 24,000m in 47 holes across the Blackjack and Rhosgobel deposits.  Results, which have been encouraging thus far, will continue to be released through the remainder of the summer and into the fall.

Figure 1
Source: Sitka Gold

Figure 2: RC property of Sitka Gold prior to acquisition of Victoria Gold’s Clear Creek property (Sitka Gold press release June 24, 2024).