Sitka Provides Update on the 2026 Diamond Drilling Program Underway at Its RC Gold Project, Yukon

Lots of drilling, but no new assay results—progress is visual, not financial or economic.

Risk flags

• ●Operational risk is high: The company is running a large, capital-intensive drill program (60,000 metres, four rigs active, two more planned) without disclosing cost controls, cash position, or funding sources. This matters because overruns or funding gaps could halt progress or dilute shareholders.
• ●Disclosure risk is significant: All assay results for the current drilling are pending, and the company relies on visual observations of gold, which are not a reliable predictor of grade or economic viability. Investors are being asked to trust qualitative impressions rather than hard data.
• ●Financial opacity: There is no information on expenditures, cash balance, or cost per metre drilled. Without these metrics, investors cannot assess burn rate, runway, or the likelihood of future dilutive financings.
• ●Timeline risk: The majority of claims are forward-looking, with no clear timeline for when assays, updated resources, or economic studies will be delivered. This means value realization is distant and uncertain.
• ●Pattern risk: The announcement emphasizes operational activity and geological promise but omits any discussion of permitting, environmental, or community risks, which are material for Yukon projects and could delay or derail development.
• ●Execution risk: Mobilizing additional rigs and expanding drilling increases complexity and the chance of logistical or technical setbacks, especially in remote northern Canada.
• ●Resource risk: The current resource estimates are not updated in this announcement, and there is no evidence that the current drilling will materially increase resources or improve economics.
• ●Management risk: While the technical team is named, there are no external institutional investors or strategic partners disclosed, which limits third-party validation and increases reliance on internal claims.

Bottom line

For investors, this announcement signals that Sitka Gold is aggressively drilling at its RC Gold Project in Yukon, but all tangible progress is operational, not economic. The company is spending significant capital to advance exploration, but there are no new assay results, updated resource estimates, or economic studies to support claims of value creation. The narrative is credible only to the extent that drilling is actually happening and visual gold is being observed, but this is not a substitute for quantitative results. No external institutional investors or strategic partners are involved, so there is no third-party validation of the project’s potential. To change this assessment, the company would need to release assay results from the current drilling, update its resource estimates, or disclose financials that clarify its funding position and cost structure. Key metrics to watch in the next reporting period are assay results, cost per metre drilled, cash balance, and any progress toward updated resources or economic studies. At this stage, the information is worth monitoring but not acting on—there is not enough evidence to justify a new investment or increased position. The single most important takeaway is that Sitka Gold’s current value proposition is based on visual observations and operational momentum, not on new economic or financial data; until assays and updated studies are released, the upside is speculative and the risks are high.

Announcement summary

Sitka Gold Corp. (TSXV:SIG, OTCQX:SITKF) announced positive initial results from its 60,000 metre diamond drill program underway at the RC Gold Project in Yukon, Canada. Multiple occurrences of visible gold have been reported in all 2026 drill holes completed so far at both the Blackjack and Rhosgobel target areas, with additional coarse scheelite mineralization intersected at Rhosgobel. Six holes totaling 5,500 m have been completed this season, with four more in progress and assays pending. The RC Gold Project hosts an indicated mineral resource estimate of 1,291,000 ounces of gold and an inferred resource of 3,829,000 ounces of gold. The company is operating four drill rigs, with two more anticipated to mobilize soon.

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