Sitka Gold Announces Maiden Resource Estimate at Its Rhosgobel Gold Deposit and Expands Total Mineral Resource Estimate at the RC Gold Project, Yukon

• Total RC Gold Project Mineral Resource Estimate now at 1.29 million ounces gold indicated and 3.83 million ounces gold inferred:
  • 1.29 million ounces gold indicated (39.96 Mt @ 1.01 g/t Au) at Blackjack
  • 3.83 million ounces gold inferred including:
    • 2.25 million ounces (100.68 Mt @ 0.70 g/t Au) at Rhosgobel,
    • 1.04 million ounces (34.60 Mt @ 0.94 g/t Au) at Blackjack, and
    • 0.54 million ounces (32.14 Mt @ 0.52 g/t Au) at Eiger.

• Maiden Mineral Resource Estimate (“MRE”) defined for the Rhosgobel Gold Deposit, located on the Company’s 100% owned RC Gold Project in Yukon, comprises a pit-constrained Inferred Mineral Resource of 2,250,000 ounces of gold (100.68 Mt @ 0.70 g/t Au) beginning at surface (see Table 2).

• Maiden resource delineated with approximately 15,400 m of total drilling

• Initial metallurgical testing of two composite samples gave gold recoveries of 89% and 96% indicating that the gold in the Rhosgobel deposit is not refractory.

• Updated MRE for the Eiger Gold Deposit has increased the resource to 535,000 ounces of gold (32.14 Mt @ 0.52 g/t Au) beginning at surface (see Table 4)

• Significant tungsten mineralization present in the Rhosgobel deposit and additional analytical work is currently in progress to further define tungsten values and distribution

• 60,000 m of diamond drilling planned at RC Gold this year; approximately double the amount of drilling that has been completed to date
  • Drilling to focus on expanding known resources at the Blackjack, Eiger and Rhosgobel deposits, all of which remain open, and following up on other high-priority drill targets

Vancouver, British Columbia–(Newsfile Corp. – February 25, 2026) – Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) (“Sitka” or the “Company”) is pleased to announce an updated Mineral Resource Estimate (“MRE”) in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards incorporated by reference in National Instrument 43-101 (“NI 43-101”) for the RC Gold Project (“RC Gold” or the “Project”) located in the Yukon’s prolific Tombstone Gold Belt. The MRE was prepared on behalf of the Company by GeoSim Services Inc. and is supported by additional drilling completed by the Company in 2025.

The updated MRE for RC Gold includes an initial resource estimate for the newly discovered Rhosgobel Gold Deposit of 2,250,000 ounces of gold inferred (100.68 Mt @ 0.70 g/t Au), beginning at surface and grading 0.70 g/t gold using a cut-off grade of 0.30 g/t gold, an updated resource estimate for the Eiger Gold Deposit of 535,000 ounces of gold inferred (32.14 Mt @ 0.52 g/t Au), beginning at surface and grading an average of 0.52 g/t gold using a cut-off grade of 0.30 g/t gold and the existing mineral resource estimate for the Blackjack Gold Deposit, which was updated last year with an effective date of January 21, 2025, comprising an indicated resource of 1,291,000 ounces of gold in 39.96 Mt grading 1.01 g/t gold and an inferred resource of 1,044,000 ounces of gold in 34.60 Mt grading 0.94 g/t gold beginning at surface and using a cut-off grade of 0.30 g/t gold. The MRE for the RC Gold Project now comprises 1,291,000 ounces gold indicated (39.96 Mt @ 1.01 g/t Au) at Blackjack, and 3,829,000 ounces gold inferred, including: 2.25 million ounces (100.68 Mt @ 0.70 g/t Au) at Rhosgobel, 1.04 million ounces (34.60 Mt @ 0.94 g/t Au) at Blackjack, and 0.54 million ounces (32.14 Mt @ 0.52 g/t Au) at Eiger (see Tables 1 to 4 for additional details). Drilling continues to expand gold mineralization at the Blackjack deposit, which remains open in all directions, and an updated resource estimate is anticipated for Blackjack after the 2026 drilling program has been completed.

A National Instrument 43-101 Technical Report describing the details of the mineral resource estimate is in preparation and will be filed on SEDAR within 45 days of this news release.

“The road accessible gold resources at RC Gold continue to grow at a rapid pace, with the initial mineral resource estimate for Rhosgobel and the updated resource estimate for Eiger contributing significant additional gold ounces to the Project,” stated Cor Coe, Director and CEO of Sitka. “Advancing Rhosgobel from a late 2024 discovery to an initial 2.25 million ounce gold deposit in a single field season underscores both the strength of the system and the effectiveness of our exploration approach. Furthermore, this deposit exhibits robust continuity of strong gold mineralization beginning at surface, highlighting its scalability and development potential. We are still in the early stages of delineating Rhosgobel, which remains open in all directions within a broad 1.5 by 2.0 kilometre gold-in-soil anomaly, much of which is untested by drilling. With 30,000 metres of drilling allocated to the deposit this year we anticipate significant resource growth at Rhosgobel. As a demonstration of just how quickly deposits of this type can evolve at RC Gold, our initial resource at Blackjack, which was 900,000 ounces inferred at 0.83 g/t gold (33.74 Mt) and published in January, 2023, grew to 1.3 million ounces indicated at 1.01 g/t gold (39.96 Mt) and 1.0 million ounces inferred at 0.94 g/t gold (34.60 Mt) by January, 2025, with additional drilling to date continuing to expand mineralization.

“The trajectory of advancement at RC Gold has surpassed our expectations with total gold resources rapidly growing from our initial 2023 maiden resource estimate. With a total of 60,000 metres of diamond drilling planned across RC Gold in 2026, which will effectively double the total meterage drilled to date, we are positioned for another highly impactful year as we work to expand our known deposits while pursuing additional discoveries across the numerous other high-priority targets located within this district-scale gold camp.”

Cor Coe, Director and CEO of Sitka Gold, will be discussing the details of the updated MRE in a live webinar with Dr. Quinton Hennigh on February 27, 2026 at 9am ET (click HERE to register).

To view an enhanced version of this graphic, please visit:
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Rhosgobel Deposit
The maiden resource for the Rhosgobel Deposit is based on data from 72 drill holes representing 15,396 m of drilling. Twenty-seven reverse circulation holes were drilled by Kennecott in 1995. All core drilling (45 holes) was carried out by Sitka Gold between 2024 and the end of 2025.

The modelling for the maiden resource at Rhosgobel identified a higher grade component of the deposit that contains greater than 1.0 g/t gold material that trends from surface to a currently identified depth of approximately 300 metres (Figures 2 and 3). The morphology and grade of this mineralization allows for the possible development of a higher-grade starter pit and a faster capital cost payback of potential future mine development.

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The Rhosgobel deposit also contains a significant amount of scheelite, a primary mineral of tungsten. Drill hole DDRCRG-24-002 and DDRCRG-24-004 were assayed for WO₃ using lithium borate fusion with an XRF finish and yielded significant results such as 75.5 m of 0.132 % WO₃ from 119.5 m, and 46.19 m of 0.121 % WO₃ from 223.0 m from hole DDRCRG-24-002, and 85.4 metres of 0.138% WO₃ from 94.0 metres, 60.0 metres of 0.134% WO₃ from 202.0 metres, and 35.0 metres of 0.121% WO₃ from 285.0 metres intersected in DDRCRG-25-004 (see news releases dated January 22, 2026 and November 6, 2025). An additional approximately 5,500 samples from 32 drill holes have been submitted for XRF tungsten assays to determine the distribution of tungsten at Rhosgobel. While the Company is encouraged by these tungsten values, it is not yet known if the tungsten can be economically recovered and further metallurgical work will include investigating the tungsten potential.

Eiger Zone
The updated resource for the Eiger Zone is based on data from 21 drill holes representing 8,540 m of core drilling. All drilling was carried out by Sitka Gold in 2020, 2021, and 2025.

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Figure 1: Rhosgobel deposit initial Mineral Resource Estimate outline with conceptual pit-shell and examples of highlighted drill hole intercepts.

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* A National Instrument 43-101 Technical Report describing the details of the mineral resource estimate is in preparation and will be filed on SEDAR within 45 days of this news release.

Figure 2: Block Model of the Rhosgobel resource illustrating a coherent core of greater than 1.0 g/t Au material that extends from surface to a currently defined depth of approximately 300 m.

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Figure 3: A 3D Representation of the current Rhosgobel resource shell showing the gold deposit that begins at surface and is open in all directions.

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Figure 4: Longitudinal section showing locations of several of the intrusion targets and the current gold resources within the Clear Creek Intrusive Complex. A 60,000 metres 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 5: A map of the Clear Creek Intrusive Complex (CCIC) showing the location of the Blackjack resource outline, the updated Eiger resource outline, the initial Rhosgobel Resource and the other intrusions of the CCIC such as the Pukelman intrusion and the Bear Paw target.

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Factors That May Affect the Mineral Resource Estimate
Areas of uncertainty that may materially impact the Mineral Resource Estimate include: commodity price assumptions, assumptions that all required permits will be forthcoming, metallurgical recoveries, mining and process cost assumptions, ability to meet and maintain permitting and environmental license conditions and the ability to maintain the social license to operate.

There are no other known material factors or issues that materially affect the estimate other than normal risks faced by mining projects in the Yukon Territory in terms of environmental, permitting, taxation, socio economic, marketing, and political factors. Geosim is not aware of any known legal or title issues that would materially affect the Mineral Resource estimate.

About the RC Gold Project
Sitka’s 100% owned, flagship RC Gold Project consists of a 431 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 now has pit-constrained mineral resources that are contained in three zones: the Blackjack, Eiger, Rhosgobel gold deposits with a total Mineral Resource Estimate of 3.8 million ounces gold inferred and 1.3 million ounces gold indicated at RC Gold including 1,291,000 ounces of gold in 39,962,000 tonnes grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold in 34,603,000 tonnes grading 0.94 g/t in an inferred category at Blackjack and 535,000 ounces of gold in 32,143,000 tonnes grading 0.52 g/t gold in an inferred category at Eiger, and an additional 2,250,000 ounces gold in 100,677,000 tonnes grading 0.70 g/t gold in the inferred category at Rhosgobel. The Blackjack resource estimate numbers are supported by the technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled “Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory”, prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. A National Instrument 43-101 Technical Report describing the details of the mineral resource estimates for Rhosgobel and Eiger is in preparation and will be filed on SEDAR within 45 days of this news release.

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%.

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.

The company has now completed 165 diamond drill holes for a total of 59,770 metres across the Clear Creek Intrusive Complex (CCIC), and an additional 3 holes for 858 metres in the May-Qu Intrusion. Drilling continues to outline higher grade mineralization at all zones including hole DDRCCC-24-068 at Blackjack which intersected 678.1 metres of 1.04 g/t gold starting from surface (see news release dated October 21, 2024), and hole DDRCCC-25-075 which intersected 352.8 metres of 1.55 g/t gold including 108.9 metres of 3.27 g/t gold and 45.0 metres of 4.52 g/t gold (see news release dated April 22, 2025). Drilling in 2024/2025 has resulted in the discovery of a new higher grade zone at Rhosgobel including hole DDRCRG-25-010 at Rhosgobel which intersected 235.9 metres of 1.11 g/t gold, including 40.0 m of 2.01 g/t gold and 10.0 m of 5.29 g/t gold, from surface (see news release dated September 18, 2025).

RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system (“IRGS”). The property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t Au (2.471 million ounces; Sims 2018)⁽¹⁾; Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t Au at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)⁽²⁾; the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)⁽³⁾; the AurMac Project with an Indicated Mineral Resource of 112.5 million tonnes grading 0.63 gram per tonne gold (2.274 million ounces)⁽⁴⁾ plus an Inferred resource of 280.6 million tonnes grading 0.60 g/t Au (5.454 million ounces)⁽⁴⁾, the Valley Deposit, with a current Measured and Indicated Mineral Resource of 7.94 million ounces at 1.21 g/t gold and an additional Inferred Mineral Resource of 0.89 million ounces at 0.62 g/t Au⁽⁵⁾, and the Raven deposit with an inferred mineral resource of 1.1 million ounces (19.96 million tonnes at 1.67 g/t Au)⁽⁶⁾. The QP has been unable to verify the information regarding the above resource estimations and the information is not necessarily indicative of the mineralization on the property that is the subject of the disclosure.

1. (1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads/2018/Fort-Knox-June-2018-Technical-Report.pdf

2. (2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_2023_eagle_mine_technical_report_final.pdf

3. (3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022.pdf

4. (4) July 8, 2025, Banyan Gold Corp., News Release. https://banyangold.com/news-releases/2025/banyan-announces-first-indicated-mineral-resources-and-identifies-high-grade-continuous-zones-at-its-aurmac-project-yukon-canada/

5. (5) https://snowlinegold.com/2025/05/15/snowline-gold-expands-measured-and-indicated-gold-ounces-by-96-in-updated-mineral-resource-estimate-at-its-valley-gold-deposit-yukon/

6. (6) Jutras, M. 2022. Technical Report on the Raven Mineral Deposit, Mayo Mining District Yukon Territory, Canada, prepared for Victoria Gold Corpand filed on SEDAR (www.sedar.com) with an effective date of September 15, 2022.

Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:

• CEO webinar with Dr. Quinton Hennigh: February 27, 2026 at 9am ET (click HERE to register)
• PDAC: Toronto, ON: March 1 – 4, 2026
  • Exhibitor Booth: #2346, March 1 – 4
  • Core Shack: Booth #3101B, March 3 – 4
• Swiss Mining Institute: Zurich, Switzerland: March 18-19, 2026
• Canaccord Global Metals and Mining Conference: Henderson, NV: May 19 – 21, 2026

*All events are subject to change.

About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with approximately $45 million in its treasury and no debt. 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, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. 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, all of which are 100% owned by Sitka.

*For more detailed information on the Company’s properties please visit our website at www.sitkagoldcorp.com.

The technical work of the initial MRE was completed by Ron G. Simpson of GeoSim Services Inc. an independent qualified person as defined by NI 43-101. He has reviewed, verified and approved the technical information related to the MRE in this news release.

All other scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, P.Geo., V.P. Exploration 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

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.

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 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 out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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