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 TMX Newsfile Wed, October 14, 2026 at 8:30 AM EDT 18 min read GC=F -0.96% SITKF -1.43% SIG.V -2.04% 1RF.F +1.22% New assay results from the Saddle Zone and the Eiger deposit return high-grade gold intercepts and continue to expand strong gold mineralization across the 2 km long Blackjack-Saddle–Eiger area.
Hole DDRCCC-26-156 returned some of the strongest intercepts drilled to date at Saddle, intersecting 71.0 m of 2.79 g/t Au (including 36.3 m of 3.31 g/t Au and 21.9 m of 3.25 g/t Au) and 34.0 m of 1.11 g/t Au, all within 236.0 m of 1.15 g/t Au.
Step-out drilling at Eiger returned 45.5 m of 1.16 g/t Au, including 4.5 m of 9.26 g/t Au and 1.5 m of 24.80 g/t Au, along with 16.4 m of 1.95 g/t Au, including 1.5 m of 13.45 g/t Au, in DDRCCC-26-150; continues to expand gold mineralization west towards Saddle and the Blackjack Deposit.
Hole DDRCCC-26-155 at Eiger returned 18.1 m of 2.36 g/t Au.
A dominant lamprophyre dyke marking a major structural conduit for gold mineralization has been confirmed to run from Blackjack through Saddle and into the Eiger Deposit, demonstrating a linkage between these areas; this structure projects east beyond Eiger to the Josephine Intrusion target where additional lamprophyre dykes have been mapped along with sheeted veins and visible gold.
Approximately 58,000 m of diamond drilling has been completed to date this year in 143 drill holes across the Blackjack, Eiger, and Rhosgobel deposits and the Saddle, Pukelman-Contact and Bear Paw Breccia Zones as part of the ongoing 60,000 m drill program planned for 2026. Results for 59 diamond drill holes have been released to date with 84 drill hole results currently pending. Six drill rigs are currently turning on the Project.
Vancouver, British Columbia--(Newsfile Corp. - October 14, 2026) - Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQX: SITKF) ("Sitka" or the "Company") is pleased to announce assay results from four diamond drill holes completed at the Saddle Zone and the Eiger deposit, and to provide an update on the planned 60,000 metre diamond drilling program currently underway at its 100% owned, road accessible RC Gold Project ("RC Gold" or the "Project") in Canada's Yukon Territory.
These results show continued expansion of gold mineralization across the Blackjack-Eiger area. At the Saddle Zone, Hole 156 intersected 236.0 m of 1.15 g/t gold, including 71.0 m of 2.79 g/t gold, 36.3 metres of 3.31 g/t gold and 21.9 metres of 3.25 g/t gold. The grade is carried by two separate higher-grade cores, and mineralization continues below with a further 34.0 metres of 1.11 g/t gold from 543.0 metres. Drilling this year at the Saddle Zone, which is located within the Blackjack pit shell, continues to intersect broad intervals of strong gold values in an area classified as waste in the current MRE and demonstrates the potential of this area to add significant tonnage to a future Blackjack MRE update.
At the Eiger Deposit, step-out hole 150 returned 45.5 m of 1.16 g/t gold, including 4.5 m of 9.26 g/t gold, from 182.5 metres and a second interval of 16.4 m of 1.95 g/t gold from 303.6 m. Meanwhile, Hole 155 returned 18.1 m of 2.36 g/t gold from 287.0 m. This year's step-out holes to the west of Eiger have been intersecting higher-grade intervals than what has previously been seen within the deposit, suggesting a higher-grade gold zone could be developing as mineralization is extended west towards Saddle.
With Saddle extending mineralization east from Blackjack and Eiger expanding to the west, the two deposits continue to grow toward each other along the 2 km long Blackjack-Eiger area. In addition, a dominant lamprophyre dyke that marks a major conduit for gold mineralization has been shown by drilling to continue from Blackjack to Eiger, providing a clear linkage between the two deposits. The modeling of this main lamprophyre dyke within the 5 km extensional corridor provides a clear target for future drilling to connect not only the Blackjack-Eiger deposits but also for targeting mineralization within the entire corridor which projects west of Blackjack and east from Eiger to the Josephine Intrusion target (see Figure 8).
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"Drilling within the Blackjack-Saddle-Eiger corridor continues to impress, with Hole 156 returning some of the best results seen to date from the Saddle Zone," stated Cor Coe, CEO and Director of Sitka Gold. "The strong gold values intercepted in DDRCCC-26-156 demonstrate that the Saddle Zone carries significant grades at depth as well as near surface. Given that the Saddle Zone is located within the existing Blackjack pit shell, the strong gold results coming from this year's drilling across the Saddle Zone have the potential to add significant tonnage to a future MRE update for the Blackjack Deposit. In addition, stepout holes 150 and 155 at Eiger have also returned significant gold grades that continue to push mineralization west toward Saddle - Blackjack. Drilling has also confirmed that a dominant lamprophyre dyke, which marks a major structural conduit for gold mineralization, continues from Blackjack east through the Saddle Zone and to the Eiger Deposit, covering a distance of approximately 2 kilometres. Together, these results support our view that Blackjack, Saddle and Eiger may ultimately form one larger, continuous gold system. With the 60,000 metre program nearing completion, which will effectively double the total amount of diamond drilling completed to date at RC Gold, we look forward to the release of dozens of more pending drill holes and an updated mineral resource estimate."
Figure 1: Examples of visible gold from DDRCCC-26-156
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Figure 2: Examples of drill core from DDRCCC-26-156 at Saddle (478.6 m - 492.1 m) and DDRCCC-26-150 at Eiger (208.1 m - 217.5 m).
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Figure 3: A 3D representation of the current Blackjack and Eiger resource block models showing the gold deposits that begin at surface and are open in all directions. Drill results from Saddle have confirmed gold mineralization extends approximately 550 metres east of the Blackjack resource (and within the pit limits) while drilling at Eiger has confirmed that gold mineralization extends approximately 120 m west of the current Eiger resource. The resource pit-limits for these deposits are currently about 200 m apart. Recent results show that mineralization at these deposits continues to grow towards each other and may ultimately form one larger, continuous gold system.
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Figure 4: Plan map of drilling completed at the Blackjack deposit and Saddle Zone, highlighting results from drill hole DDRCCC-26-156 reported in this news release. The Blackjack deposit remains open in all directions.
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Figure 5: Plan map showing drilling completed to date at the Eiger deposit along with the current gold resource outline and resource pit outline. Drilling continues to expand mineralization to the west at Eiger towards the Saddle zone and Blackjack deposit. The Eiger deposit remains open in all directions.
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Figure 6: Cross section of drill hole DDRCCC-26-156 showing gold grades at the Saddle Zone.
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Figure 7: Cross section of drill hole DDRCCC-26-150 showing gold grades at the Eiger Deposit.
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Drilling at the Saddle zone has consistently intersected several lamprophyre dykes that define the 5 km Blackjack-Saddle-Eiger-Josephine extensional corridor. The drilling has confirmed a dominant lamprophyre that is continuous from the Blackjack deposit through the Saddle Zone and into the Eiger deposit. Gold mineralization has been consistently intersected in the hangwall of this lamprophyre within both intrusive and metasedimentary host rocks as seen in Hole 156, which returned some of the strongest intercepts drilled to date at Saddle. Geological modelling of the lamprophyre and previous geological mapping, rock and soil sampling suggests that this lamprophyre extends west of the Blackjack deposit and east of the Eiger deposit towards the Josephine intrusion. The modeling of this main lamprophyre dyke that is marking a conduit for gold mineralization within the 5 km corridor provides a clear target for future drilling to connect not only the Blackjack-Eiger deposits but also as a target for future drilling to target mineralization within the entire corridor (see Figure 8). This includes the Josephine target, where mapping has discovered lamprophyre dykes, along with visible gold and sheeted veins, and where the only diamond drill hole that has been drilled into the intrusion to date has confirmed reduced intrusion related gold mineralization is present, including up to 6.0 m of 0.85 g/t gold (see news release dated December 21, 2023).
The 2026 drill program continues to successfully intersect broad zones of Reduced Intrusion-Related Gold System (RIRGS) mineralization across the Blackjack, Eiger, and Rhosgobel deposits, further expanding and defining known gold mineralization at all three of these deposits, each of which remains open in all directions. Ongoing drilling at Contact-Pukelman also continues to successfully intersect RIRGS mineralization. Six drill rigs are currently turning at the Project.
Figure 8 - Plan map showing the projected extensional corridor running from the Blackjack through Eiger and on to Josephine. Drilling has confirmed a dominant lamprophyre dyke that is continuous from the Blackjack deposit through the Saddle Zone and into the Eiger deposit. This lamprophyre marks a major conduit for gold mineralization and provides a linkage between the Blackjack and Eiger gold deposits.
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Figure 9: Longitudinal section showing 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.
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Figure 10*: A plan map of the Clear Creek Intrusive Complex (CCIC) showing the resource areas at Blackjack, Eiger and Rhosgobel and the six additional areas that have drill targets indicated by the mauve hatched areas. The map highlights the numerous drill targets that Sitka has outlined within the CCIC which all are connected by the road network on the project and occur in an area measuring five (5) km north-south and twelve (12) km east-west. Additional areas highlighted by strong gold in soil anomalies are being advanced to the drill ready stage with additional geological work planned in 2026.
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* References for Figure 10 drilling intervals: Rhosgobel Intervals: Sitka Gold News Release dated November 25, 2024 Pukelman Intervals: Sitka Gold News Release dated January 7, 2025 Contact Intervals: O'Brien, 2010; Assessment Report, 2010 Diamond Drilling Program, Clear Creek Property (Assessment report 095539) Shutty, 2011; Assessment Report, 2011 Exploration Program, Clear Creek Property (Assessment Report 095984) Bear Paw Intervals: Shutty, 2011; Assessment Report, 2011 Exploration Program, Clear Creek Property (Assessment Report 095984)
Sitka's 100% owned, flagship RC Gold Project consists of a 447 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is one of the largest consolidated land packages strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
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.
Table A: Summary of Gold Mineral Resources at the RC Gold Project
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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$2000/oz Au price; a 45° pit slope; assumed metallurgical recovery of 85%; 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-
** 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$3000/oz Au price; a 45° pit slope; assumed metallurgical recovery of 85%; 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$2500/oz and believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing
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 85% for the Blackjack and Eiger deposits. Further metallurgical testwork in 2024 for Blackjack and Eiger returned recoveries ranging from 77.6 to 93% for gravity followed by cyanidation. Initial bottle roll testing for Rhosgobel has confirmed non-refractory characteristics of the gold mineralization with two composite samples returning gold recoveries of 89% and 96%. Additional metallurgical testing at Rhosgobel has returned an average gold recovery of 94.3% using conventional whole ore cyanidation leaching and an initial recovery of 84.7% tungsten in rougher concentrate using conventional flotation. Metallurgical testing for potential silver recovery has not yet been completed.
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.
Sitka Gold will be attending and/or presenting at the following events*:
Nordic Funds and Mines: Stockholm, Sweden: October 15 - 16, 2026
Yukon Geoscience Forum: Whitehorse, Yukon: November 16 - 19, 2026
121 Mining Investment Conference: London, England: November 23 - 24, 2026
Vancouver Resource Investment Conference: Vancouver, BC: January 24 - 25, 2027
AME RoundUp: Vancouver, BC: January 25 - 28, 2027
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 100% owned, 447 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company has also announced plans to spin-out the Alpha Gold Project in Nevada and the Burro Creek Gold and Silver Project in Arizona into a new discovery-focused exploration company to be named at a later date.
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 six diamond drill rigs are currently operating.
*For more detailed information on the Company's properties, please visit our website at www.sitkagoldcorp.com
Quality Assurance/Quality Control
On receipt from the drill site, the HTW/NTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Sitka's core logging facility. Sample lengths as small as 0.3 m were used to isolate features of interest, otherwise a default 2.0 m downhole sample length was used. Each sample is identified by a unique sample tag number which is placed in the bag containing the core to be assayed. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently) collected for analysis and one-half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Sitka personnel at regular intervals into the sample stream. Bagged samples were placed in secure bins to ensure integrity during transport. They were delivered by Sitka personnel or a contract expeditor to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analyses completed in North Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory analysis. Samples were crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. One-thousand-gram splits were pulverized to over 85 per cent passing below 75 microns. Gold determinations are by fire assay with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish on 50 g subsamples of the prepared pulp (ALS code: Au-ICP-22). Any sample returning over 10 g/t gold was re-analyzed by fire assay with a gravimetric finish on a 50 g subsample (ALS code: Au-GRA21). In addition, a 51-element analysis was performed on a 0.5 g subsample of the prepared pulps by an aqua regia digestion followed by an inductively coupled plasma mass spectroscopy (ICP-MS) finish (ALS code: ME-MS41).
The 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 as defined by National Instrument 43-101.
"Cor Coe"
Sitka Gold Corp.+1-604-979-0509info@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 discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company will carry out its exploration plans as currently anticipated by management. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
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, market uncertainty, risks related to exploration and the results of the Company's anticipated work programs.
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.
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