Stikine Gold Corporation

Stikine Gold Corporation

November 27, 2006 18:13 ET

Stikine Announces $600,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 27, 2006) - Stikine Gold Corporation (TSX VENTURE:SKY) ("Stikine", the Company) announces that it has arranged a private placement for gross proceeds of up to $600,000, through the issuance of 2 million units at a price of $0.30 per unit. The units will each consist of one flow-through common share and one half of one share purchase warrant, each full warrant entitling the holder to acquire an additional non-flow-through common share for twelve months following closing at price of $0.45.

The Company has signed a letter of intent with MTAX 2006 (No.2) Mineral Limited Partnership (the "Partnership") to subscribe for between $200,000 and $300,000 of this private placement, subject to the Partnership raising sufficient funds.

Proceeds from the private placement will be used for continuing exploration at the Sullivan Deeps Project, 6 km north of the Sullivan mine near Kimberley, British Columbia, and diamond drilling at the Catalan Copper Project, 4 km east of the Gibraltar copper-molybdenum mine near Williams Lake, British Columbia.

The private placement is subject to regulatory approval.


David J. Skerlec - Chief Financial Officer

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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