Sitka Gold - 100% Acquisition of Clear Creek & 60,000m Exploration Update

The KE Report Jul 29, 2026

Summary

Sitka Gold accelerated its Clear Creek property acquisition to 100% ownership, paying $6M cash to consolidate the Rhosgobel-bearing claim group.

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

Sitka is halfway through its 60,000m drill program, with rigs turning at Rhosgobel, Contact Zone, Saddle, Eiger, and Bear Paw Breccia.

Yukon lab delays have slowed assay turnaround, but Sitka expects a steady flow of drill results and an updated mineral resource next year.

Burke says Sitka paid the remaining $6 million in cash on July 28, 2026 to accelerate Clear Creek to 100% ownership, consolidating the full RC Gold project under Sitka.
Burke notes a 5% NSR royalty will attach to Clear Creek once the deal closes; Sitka can buy it down to 2% for a one-time $10 million payment that does not expire.
Burke emphasizes Sitka holds a right of first refusal on the royalty sale, and expects the receiver to market it the same way Victoria Gold's royalty on Banyan was sold.
Burke reports the 60,000-meter drill program is past halfway at roughly 30,000 meters across 59 holes, with six rigs on site moving to seven by year-end 2026.
Burke flags a steady flow of assay results ahead, starting with Roscoable and Blackjack holes, while noting Yukon lab turnaround is slower than expected.

Top takeaway Burke frames the Clear Creek acquisition as the 'final piece of the puzzle' for RC Gold, locking in 100% control over the Ross Goble discovery plus the Pukoman Zone and Bearpaw Breccia targets.
Burke calls the right of first refusal on the Clear Creek royalty a 'pretty powerful ace to have in your back pocket' that protects Sitka if the receiver moves to sell.
Burke highlights the 60,000-meter drill program as the company's main near-term focus, with six rigs active and a seventh being added to maximize meters drilled in 2026.
Burke is constructive on near-term news, expecting Roscoable and Blackjack drill results soon, while acknowledging Yukon lab turnaround is slower than ideal.
Burke's forward focus is de-risking the project toward a PEA, with a mineral resource update targeted for the coming year.