Announcement • Jul 11
Sitka Gold Corp Files Technical Report for RC Gold Project in Yukon Territory
Sitka Gold Corp. has filed a technical report on its 100% owned RC Gold Project in the Yukon Territory. The technical report, titled 'RC Gold Project, NI 43-101 Technical Report, Dawson Mining District, Yukon Territory' is dated July 10, 2026 and has an effective date of February 25, 2026. The RC Project hosts an indicated MRE of 1,291,000 ounces of gold and an inferred MRE of 3,829,000 ounces of gold 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 Zone Class Cut-off Grade (g/t Au) Tonnes (000's) Gold Grade (Au g/t) Oz Au (000's) Blackjack Indicated 0.3 39,962 1.01 1,291 Blackjack Inferred 0.3 34,603 0.94 1,044 Rhosgobel Inferred 0.3 100,677 0.70 2,250 Eiger Inferred 0.3 32,143 0.52 535 Total Inferred Inferred 0.3 167,423 0.72 3,829 Mineral resource estimate prepared by Ronald G. Simpson of GeoSim Services Inc. with an effective date of January 21, 2025 for Blackjack and February 25, 2026 for Rhosgobel and Eiger. 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: USD 2,000/oz Au price for Blackjack; a 45° pit slope; assumed metallurgical recovery of 85%; mining costs of USD 2.00 per tonne; processing costs of USD 10.00 per tonne; G&A of USD 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. Mineral resources for Rhosgobel and Eiger are constrained by an optimized pit shell using the following assumptions: USD 3,000/oz Au price; a 45° pit slope; assumed metallurgical recovery of 85%; mining costs of USD 2.50 per tonne; processing costs of USD 14.00 per tonne; G&A of USD 4.00/t. The base case cut-off of 0.3 g/t Au is based on a gold price of USD 2,500/oz and believed to provide a reasonable margin over operating and sustaining costs for open-pit mining and processing. The Company’s May 14, 2026 news release disclosed tungsten trioxide and silver mineral resources. During the final stages of preparation of the technical report, the Company determined not to include tungsten trioxide and silver in the mineral resource estimate for the Rhosgobel deposit. The inclusion of tungsten trioxide and silver in the mineral resource would have required the mineral resource estimate to be determined using a gold-equivalent cut-off grade under NI 43-101 requirements. The Company’s preference at this time is to instead continue the metallurgical and other work on the tungsten trioxide and silver with a view to including silver and tungsten trioxide in a future mineral resource estimate. Except for the presentation of the Rhosgobel deposit mineral resource estimate on a gold-only basis as described above, there are no material differences between the mineral resource estimates presented in the technical report and the disclosure contained in the Company’s May 14, 2026 news release. Each of the deposits at the RC Gold Project 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 floatation. 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. 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 4 diamond drill rigs are currently operating.
