Sitka Gold Corp. (TSXV: SIG) has reached an agreement to accelerate the acquisition of a 100% interest in the Clear Creek Property, currently held by the receiver of Victoria Gold Corp. This transaction is a final step in consolidating the entire 447-square-kilometre RC Gold Project in the Yukon. Under the terms, the company will pay $6 million in cash to satisfy the outstanding obligation, replacing a previous share-based payment structure. The deal remains subject to approval by the Ontario Superior Court of Justice, which must issue a vesting order to finalize the transfer of the assets free of encumbrances.

"The exceptional potential of the Clear Creek Property has already been demonstrated through Sitka's initial discovery of the Rhosgobel deposit, announced earlier this year with an initial inferred mineral resource estimate of 2.25 Moz of gold (100.68 Mt @ 0.70 g/t Au), and the strong initial drill results returned from the Pukelman-Contact and Bear Paw Breccia targets in 2025"

— Cor Coe, CEO and Director

The property acquisition includes a 5.0% net smelter return royalty. However, the agreement provides the company with the flexibility to reduce this obligation to 2.0% through a one-time cash payment of $10 million at any point in the future. Furthermore, the company holds a right of first refusal should the royalty holder look to sell their interest to a third party.

"Accelerating the completion of the Clear Creek Property acquisition removes any potential market uncertainty associated with the Victoria Gold receivership and secures Sitka's 100% ownership of the entire 447 square kilometre, road-accessible RC Gold Project."

The move arrives as the company pursues an aggressive exploration schedule. With six drill rigs currently active on site, the team has completed approximately 30,000 metres of its planned 60,000-metre diamond drilling program for the year. The remaining 45,000 metres of the campaign will be dedicated to the newly consolidated property. Specifically, 30,000 metres are allocated for the expansion of the Rhosgobel deposit, while the remaining drilling focuses on the Pukelman-Contact and Bear Paw Breccia zones.

This drilling is aimed at further defining these zones to support upcoming mineral resource estimates. By securing full ownership now, management intends to streamline operations across the district as it works toward the conclusion of its 2026 exploration goals. The acquisition of the remaining interest effectively removes external legal uncertainties, allowing the company to maintain its focus on the primary technical objectives of resource expansion and potential discovery within the Yukon’s Tombstone Gold Belt. The path forward remains contingent on the court’s decision regarding the vesting order.

Read the full announcement: Sitka Gold to Accelerate Acquisition of 100% Interest in the Clear Creek Property at Its RC Gold Project, Yukon