Sitka Gold - Court Approves 100% Acquisition of Clear Creek Property & 7-Drill Exploration Update

The KE Report Aug 20, 2026

Summary

Court approval on Aug 18, 2026 cleared Sitka's accelerated $6M cash purchase of Clear Creek, locking in 100% ownership of the RC Gold Project.

Sitka holds well over $10M in cash after recent warrant exercises, funding the $6M Clear Creek payment in cash rather than shares.

Clear Creek carries a 5% NSR royalty reducible to 2% for $10M; Sitka also holds a right of first refusal on any sale.

Sitka is running seven drills across a 60,000m program covering Rhosgobel, Pukelman contact, Bearpaw, Eiger, and Saddle targets.

Lab capacity is stretched by record-breaking Yukon drilling volume, slowing assay turnaround despite steady news flow expected into year-end.

Court approved the accelerated Clear Creek acquisition on August 18, 2026; Sitka will now make the final $6M payment in cash, giving the company 100% ownership of the project and clearing up title uncertainty, per the guest.
Clear Creek covers the Ross Gobble intrusion — described by the guest as 2.25 million ounces and growing — which is where 30,000m of Sitka's 60,000m 2026 drill program is being directed.
Two priority targets on Clear Creek — the Pukoman contact zone (10,000m) and the Bearpaw breccia (5,000m) — together account for 45,000m of the 2026 drill meterage.
The Clear Creek package carries a 5% NSR royalty buyable down to 2% for a one-time $10M cash payment, and Sitka also holds a right of first refusal on any royalty sale, the guest explains.
Sitka has well over $10M in cash — supported by recent warrant exercises — and is targeting enough 2026 drilling to publish an initial mineral resource estimate early next year.

Top takeaway Cory sets the agenda by framing the Clear Creek court approval as the day's headline and pushes Mike for details on the cash-vs-shares payment choice, the NSR mechanics, and assay turnaround expectations.

Top takeaway Mike argues that locking in 100% ownership of Clear Creek via the cash-only $6M payment sends a clear message that Sitka is 'pretty excited' about the property.
He pitches the Ross Gobble deposit (2.25M oz and growing) as a 'huge part' of the project and says they still don't know how big the deposit is.
He frames the 5% NSR buy-down to 2% for $10M as 'a bit of a steal of a deal' and calls Sitka's right of first refusal on the royalty a 'valuable piece' of the deal.
He says seven drills are turning across the property — blackjack/saddle/eiger gap, Rauch-Aubel, Pukoman contact, and Bearpaw — and credits a well-oiled field team for keeping up with core volumes.
He acknowledges assay results are 'trickling in' and says the labs are overwhelmed, partly because Sitka itself just added a seventh drill and partly because 2026 looks like a record-breaking drilling year in the Yukon.