News & Media
SITKA GRANTED EXTENSION at Adobe
VANCOUVER, CANADA – August 23rd, 2018: Sitka Gold Corp. (CSE: SIG) (the “Company” or “Sitka”) announces that it has reached an agreement with Intercept Minerals Corp. (“Intercept”) to amend the terms of the Adobe Project Agreement (the “Agreement”) whereby the Company has until September 1, 2019 to spend an aggregate of at least US$600,000 in exploration expenses on the Property and issue 50,000 shares to Intercept by September 1, 2018, with the remaining 150,000 shares to be issued by September 1, 2019. The original terms of the Agreement required US$600,000 in exploration expenditures to be incurred by September 1, 2018 and 200,000 shares to be issued at by that time.
In addition, the Company and Objective Exploration LLC (“Objective”) have agreed to amend the terms of the Agreement whereby the Company will issue 80,000 shares of Sitka to Objective on or before September 1, 2018, and will make a payment to Objective of US$30,000, payable in cash and/or shares of Sitka, on or before September 1, 2019. The original terms of the Agreement required the Company to make a payment of US$40,000 to Objective, payable in cash and/or shares of Sitka, on or before September 1, 2018.
These extensions afford more flexibility for Sitka to achieve its exploration goals at Adobe. The Company is currently awaiting assay results from its 3rd drill hole at Adobe (See Sitka News Release dated August 2nd, 2018).
The Company also announces that it has amended the issuance date of the stock options granted on March 5, 2018 under its stock option plan to certain directors, officers, employees and consultants of the Company to purchase a total of 200,000 common shares at a price of $0.25 per share exercisable for a period of five years, to April 1, 2018 (see news release dated March 5, 2018).
About Sitka Gold Corp.
Sitka Gold Corp. is a mineral exploration company headquartered in Canada and managed by a team of experienced mining industry professionals. The Company is focused on exploring for economically viable mineral deposits with its primary emphasis on gold and copper mineral properties of merit. Sitka currently has an option to acquire a 100% interest in the Adobe gold property in Nevada and owns a 100% interest in its Coppermine River project in Nunavut and the Alpha Gold property in Nevada.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
President and Director
For more information contact:
President & Director
CEO & Director
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements included in this press release that address future events, conditions or results, including in connection with exploration activity, future acquisitions and any financing, are forward-looking statements. These forward-looking statements can be identified by the use of words such as “may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”, “intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Company’s continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Company and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.