Sitka Gold Locks In 100% Of Clear Creek, Ramps Up To Seven Drills At RC Gold

Sitka Gold secured court approval on August 18 to make a final $6 million cash payment for the Clear Creek property, locking in 100% ownership of the claim block that covers the high-grade ground around the Ross Gobble intrusion at its RC Gold project in the Yukon.

The accelerated purchase agreement ends a process tied to the receivership of Victoria Gold, which had cast uncertainty over the claims. The court ruling clears the way for Sitka to wire the funds and have the claims transferred into its name, with only paperwork remaining. Mike Berkey, director and VP of corporate development, characterized the deal as "basically a done deal" once the cheque clears. The $6 million flows to the Yukon government via the receiver to fund cleanup work at Victoria Gold's Eagle property.

**What's actually in Clear Creek**

The claim block covers the Ross Gobble intrusion, roughly 90% of the Pukoman intrusion, and the Bearpaw breccia. Ross Gobble hosts a deposit the video pegs at 2.25 million ounces and growing. Two priority exploration targets — the Pukoman contact zone and the Bearpaw breccia — also sit on the block. The Bearpaw sits roughly a kilometer west of Ross Gobble and has seen historical drilling. Berkey noted that 45,000 meters of the 60,000-meter 2026 program are dedicated to Clear Creek claims: 30,000 meters at Ross Gobble, 10,000 meters at the Pukoman contact, and 5,000 meters at Bearpaw.

**The royalty that comes with it**

Clear Creek will carry a 5% net smelter royalty (NSR — a percentage of revenue from ore sales) issued to the receiver. Sitka can buy that NSR down to 2% for a one-time $10 million cash payment. The company also holds a right of first refusal if the receiver lists the royalty for sale, opening the option of acquiring the royalty outright as part of any sale agreement. Berkey called the buy-down option "a bit of a steal of a deal" given how cheap it is relative to the size of the underlying ounces.

**Drill fleet at seven**

Sitka is now running seven drills across RC Gold, distributed as follows:

- One drill on the Eiger zone and one on the Saddle zone, both adjacent to the Blackjack deposit, working to close the gap between them. - Two drills on the Rauch-Aubel deposit, expanding east. - Two drills on the Pukoman contact zone. - One drill on the Bearpaw breccia.

The fleet is roughly split between expanding known deposits (Blackjack-Saddle-Eiger and Rauch-Aubel) and testing the two priority targets (Pukoman contact, Bearpaw) for additional mineralization.

**The push for a resource**

The 2026 drilling is being designed to support an initial mineral resource estimate early next year, with the Pukoman contact and Bearpaw breccia being tested for the kind of mineralization needed to add ounces beyond Ross Gobble. Berkey described the field operation as a "well-oiled machine," with core cutters, loggers, and project geologists keeping pace with the seven-rig output. He also described the Clear Creek acquisition as sending "a clear message to the market" that the company is confident in the property's potential.

**Cash position**

Sitka held well over $10 million in cash when the interview took place, supported by recent warrant exercises. That funded the decision to pay the $6 million Clear Creek final payment in cash rather than shares, leaving no share dilution tied to the title cleanup.

**Assay lag**

Lab turnaround has slowed as Yukon drill activity hits what looks like a record year for core produced in the territory. Berkey said results are "trickling in" but expects a steady flow of news through year-end, possibly into early next year.

**What's next**

Drill results from the seven-rig program — including step-outs around Ross Gobble and first assays from Pukoman and Bearpaw — should land through Q4, with a resource estimate targeted for early 2027.