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Sitka Gold Announces Plan to Spin-Out Its Nevada and Arizona Gold and Silver Assets to Focus on Advancing Its New Multi-Million Ounce Gold Discovery at Its Flagship RC Gold Project in Yukon
Vancouver, British Columbia--(Newsfile Corp. - March 12, 2026) - The Board of Directors of Sitka...
About this update from Sitka Gold Corp.
[{"type":"text","content":"Sitka Gold Announces Plan to Spin-Out Its Nevada and Arizona Gold and Silver Assets to Focus on Advancing Its New Multi-Million Ounce Gold Discovery at Its Flagship RC Gold Project in YukonVancouver, British Columbia--(Newsfile Corp. - March 12, 2026) - The Board of Directors of Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) (\"Sitka\" or \"Sitka Gold\" or the \"Company\") is pleased to announce it has initiated plans to spin-out (the \"Spin-Out\") its Alpha Gold property located in Nevada and its Burro Creek Gold-Silver property located in Arizona into a new discovery-focused exploration company to be named at a later date (\"Newco\"). The primary objective of the proposed Spin-Out is to allow Sitka Gold's management team to maintain a clear and singular focus on advancing its flagship RC Gold Project (\"RC Gold\") in Yukon, while establishing a separate, dedicated management team to unlock the value of the Company's Nevada and Arizona gold and silver assets. The Board believes that each asset group requires distinct technical, operational and strategic focus, and that separating them into two independent companies will enhance execution and allow for rapid advancement and value creation for shareholders by enabling each company to pursue its respective strategy with dedicated leadership, capital allocation and technical focus.\"The RC Gold Project has reached a stage where it warrants our full and undivided attention as we aim to rapidly advance the project through continued resource expansion and technical studies,\" said Cor Coe, Director and CEO of Sitka Gold. \"At the same time, our Nevada and Arizona assets represent compelling exploration opportunities that merits a dedicated management team with a clear mandate to move them forward and unlock the value of those very prospective properties. The proposed Spin-Out is intended to create two focused companies, each with the leadership, capital structure and strategic clarity required to maximize value for shareholders.\"The Company intends to complete the Spin-Out by way of a Plan of Arrangement (\"POA\") and apply for the listing of Newco on the TSX Venture Exchange or the Canadian Securities Exchange (\"Exchange\"). Full details of the Spin-Out, including anticipated capitalization structure and exchange ratio for Sitka Gold shareholders to receive shares of Newco,...