Stikine Gold Corporation

Stikine Gold Corporation

December 29, 2006 16:41 ET

Stikine Closes $600,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 29, 2006) - Stikine Gold Corporation (TSX VENTURE:SKY) announces that, further to its press release of November 27, 2006, it has closed the private placement raising gross proceeds of $600,000. 2 million flow-through shares and 1,000,000 warrants were issued, each warrant entitling the holder to acquire one additional non-flow-through common share until December 29, 2007, at price of $0.45. Cash finder fees totaling $27,047 were paid and 112,694 warrants were issued in connection with this offering, the warrants having the same terms as those issued to the private placees. All securities issued in connection with this financing are subject to a hold period expiring on April 30, 2007.

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.


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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