Sitka Gold to Issue Property Payment
VANCOUVER, June 11, 2024 - Sitka Gold Corp. ("Sitka" or the "Company") (TSXV:SIG) (FSE:1RF) (OTCQB:SITKF) announces that the Company expects to issue an aggregate of 54,174 common shares of the Company (the "Payment Shares"), at a deemed price of $0.2465 per common share, in full satisfaction of an annual US$10,000 payment owing pursuant to the Alpha Gold Property option agreement dated January 31, 2018 between the Company and Objective Exploration LLC, whereby the Company has the option to pay US$10,000 in cash or shares. The issuance of the Payment Shares is subject to TSX Venture Exchange approval. The Payment Shares will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable securities legislation.
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 drilling at its flagship RC Gold Project within the Tombstone Gold Belt in the Yukon Territory where up to 15,000 metres of diamond drilling is planned for 2024. The company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut.
ON BEHALF OF THE BOARD OF DIRECTORS OF
"[Donald Penner]"
President and Director
For more information contact:
Donald Penner
President & Director
778-212-1950
dpenner@sitkagoldcorp.com
or
Cor Coe
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
Neither the 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 Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to the TSX Venture Exchange's approval of the Payment Shares.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the TSX Venture Exchange will approve of the issuance of the Payment Shares. Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation, the failure of the Company to obtain approval of the TSX Venture Exchange for issuance of the Payment Shares.
Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this news release by you or any of your representatives or for omissions from the information in this news release.
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