Stikine Gold Corporation

Stikine Gold Corporation

July 25, 2005 16:44 ET

Stikine Gold Corporation: Annual and Special General Meeting of Shareholders

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 25, 2005) - Stikine Gold Corporation (the "Company" or "Stikine") (TSX VENTURE:SKY) announces the results from its annual and special general meeting of shareholders convened earlier today. At the meeting, all of the resolutions contained in the management information circular dated June 20, 2005, received the approval of the majority of shareholders that were present in person or represented by proxy.

Firstly, shareholders approved a resolution fixing the size of the board of directors of the Company at four members and the election of Scott E. Broughton, David J. Skerlec, John M. Mirko and Iain G. Bruce as directors. Staley Okada & Partners, Chartered Accountants were appointed as auditors for the ensuing year and shareholders confirmed the Company's stock option plan.

Disinterested shareholders approved a resolution repricing the exercise price of 1,750,000 outstanding stock options held by directors and consultants of the Company, to $0.10 per share, from $0.35 and $0.25 per share, with option expiry dates remaining unchanged. Confirmation of the option plan and the amendments to the outstanding options remain subject to TSX Venture Exchange approval.

In light of the results from SD2 at the Company's Sullivan Deeps Project near Kimberley, British Columbia, all drilling operations have now been suspended and demobilized until a thorough review of all existing data has been completed. The Company can fund approximately $1 million in additional exploration expenditures on the project to earn its initial 50% interest by August 31, 2007.

Consistent with Stikine's mandate to pursue compelling large-scale exploration projects, the Company continues to assess new project opportunities.


Scott E. Broughton - President and CEO

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

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