VANCOUVER, BC, March 1, 2024 /PRNewswire/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF) is pleased to announce that the Company has received approval to list its common shares (the "Shares") on the TSX Venture Exchange (the "TSX-V") following satisfaction of regulatory requirements. The Shares will be de-listed from the Canadian Securities Exchange at the close of markets on March 4, 2024 and begin trading on the TSX-V at the open of markets on March 5, 2024.
"We are looking forward to working with the TSX-V and expect this listing to improve the Company's visibility across both domestic and international capital markets," stated Cor Coe, Director and CEO of Sitka. "With exposure to a broader base of potential investors, we believe this will provide a means of expanding the company's investor base and ultimately assist in unlocking the value of Sitka's gold discoveries in the Yukon and Nevada along with the other mineral assets within its portfolio of projects."
Upon listing, the Company's trading symbol "SIG" will remain unchanged and shareholders will not be required to take any action in connection with the Company's listing on the TSX-V. The Shares will also continue to be listed on the OTCQB Marketplace in the United States under the symbol "SITKF" and on the Frankfurt Stock Exchange under the symbol "1RF".
Appointment of New Director
The Company is also pleased to announce the appointment of Angus Campbell, P. Geo., to the Board as a Director.
Mr. Campbell is a Professional Geologist with over 30 years of global project experience. He has extensive exploration and operational knowledge gained by working on greenfield, brownfield and mine development projects. Most recently he was Vice President of Exploration for Sabina Gold and Silver Corp. which was acquired by B2Gold Corp. in 2023 for $1.2 billion. During his 10 years with Sabina, Angus led exploration initiatives that resulted in a new deposit discovery and over 2.5 million ounces of resource growth. Prior to Sabina, Angus was Exploration Manager for Chile with BHP Billiton based in Santiago. Throughout his career he has held senior technical positions with a focus on Health Safety Environment and Community, business development and discovery. He has worked throughout North and South America and parts of Asia. Angus was a member of Rio Algom's Spence copper deposit discovery team in Chile who were honoured with the PDAC Bill Denis award in 1998. Angus holds a B.Sc. in Geology and is a registered Professional Geoscientist with the Association of Professional Engineers and Geoscientists of British Columbia.
Cor Coe, Director and CEO of Sitka, stated, "We are very excited to welcome Angus Campbell to the Board of Directors. His distinguished career brings an incredible amount of experience and knowledge to our team at a key stage in the Company's growth. We look forward to working with Angus as we continue to advance the major gold discovery at our flagship RC Gold Project in Yukon and unlock value across our portfolio of other mineral properties."
In connection with the appointment of Mr. Campbell to the Board, the Company has granted Mr. Campbell 400,000 incentive stock options (the "Options"). The Options are exercisable at $0.14 per Share for a period of three years from the date of grant and are subject to the terms and conditions of the Company's new stock option plan. In order to comply with applicable TSX-V policies, the Company adopted a new 10% rolling stock option plan which will be put to shareholders for approval on an annual basis in accordance with TSX-V policies.
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- Tombstone Gold Rush Breakfast - Fireside Chat - Toronto, ON: March 5, 2024
- Invest Yukon Precious Metals Luncheon - Toronto, ON: March 5, 2024
- PDAC, Toronto, ON: March 3 - 6, 2024
- Exhibitor Booth #2346: March 3-6
- One-on-One Meeting Program: March 4-5
- Core Shack Booth #3310: March 3-4
- Swiss Mining Institute, Zurich, Switzerland: March 20 - 21, 2024
- 121 Mining Investment, London, England: May 16-17, 2024
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*All events are subject to change.
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Agreement for Investor Relations Services
The Company announces that it has entered into an investor relations agreement (the "IR Agreement") with Jennifer Coe, B.Sc., (the "Consultant"), pursuant to which the Consultant has agreed, effective September 1, 2023, to provide marketing and shareholder communications services to the Company for a term of 12 months, and thereafter for subsequent terms of 6 months, subject to termination in accordance with the terms of the IR Agreement.
The Consultant has been engaged to heighten market awareness for the Company and to broaden the Company's reach within the investment community. In conducting her marketing and communications program, the Consultant will employ a number of different communication methods, including digital marketing, broadcasting, newsletter dissemination, phone calls and emails.
The Consultant brings over 15 years of marketing experience to Sitka from a variety of industries including nine years as Director of Member Services at Hollyburn Country Club in West Vancouver where she managed marketing, communications and public relations. In the past four years she has been actively involved in the junior mining sector and now will focus on leading Sitka's major marketing, branding and communication initiatives.
The Company will pay the Consultant a monthly cash fee of $5,000 which the Company intends to pay out of its general working capital account. Pursuant to the IR Agreement and subject to the approval of the Company's Board and the necessary regulatory consents and approvals, the Company may issue to the Consultant, from time to time, Options to purchase Shares in accordance with the terms and conditions of the Company's stock option plan.
The Company and the Consultant act at arm's length. The Consultant currently holds (i) 200,000 Options with an exercise price of $0.19, expiring on April 6, 2026; (ii) 50,000 Options with an exercise price of $0.12 expiring on February 25, 2025; and (iii) 200,000 Options with an exercise price of $0.20 expiring on January 4, 2027. The Consultant has no other interest in the Company or its securities, or any right to or intent to acquire such an interest at this time.
The Consultant has agreed to comply with all applicable securities laws and the policies of the TSX-V in providing the services to the Company.
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 currently has an option to acquire a 100% interest in the RC, Bee Bop, Barney Ridge, and OGI properties in the Yukon and the Burro Creek Gold and Silver property in Arizona. Sitka owns a 100% interest in its Clear Creek and Mahtin properties in Yukon, the Alpha Gold property in Nevada, and the Coppermine River project in Nunavut.
The Company recently announced an NI 43-101 compliant initial inferred Mineral Resource Estimate of 1,340,000 ounces of gold(1) beginning at surface and grading 0.68 g/t at its RC Gold Project in Yukon (see news release dated January 19, 2023). A total of approximately 6500 metres of additional diamond drilling within 16 drill holes has been completed at RC Gold since the announcement of the Mineral Resource Estimate.
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(1)
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Simpson, R. January 19, 2023. Clear Creek Property, RC Gold Project, NI 43-101 Technical Report, Dawson Mining District, Yukon Territory
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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 (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
President and Director
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 with respect to, among other things, the development of the business, the listing of the Shares on the TSX-V and the de-listing of the Shares from the Canadian Securities Exchange.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, about: general business and economic conditions; the timing of the receipt of regulatory approvals, the listing of the Shares on the TSX-V and the de-listing from the Canadian Securities Exchange.
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, the risk the Shares will not be listed on the TSX-V and de-listed from the Canadian Securities Exchange as currently anticipated.
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 out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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SOURCE Sitka Gold Corp.
