Stikine Gold Corporation

Stikine Gold Corporation

March 29, 2005 16:31 ET

Stikine Gold Corporation: Sullivan Deeps Project; SD2 and SD1-A Intersect 'Hiawatha' Marker


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: STIKINE GOLD CORPORATION

TSX VENTURE SYMBOL: SKY

MARCH 29, 2005 - 16:31 ET

Stikine Gold Corporation: Sullivan Deeps Project; SD2
and SD1-A Intersect 'Hiawatha' Marker

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2005) - Stikine
Gold Corporation ("Stikine") (TSX VENTURE:SKY) announces that diamond
drill holes SD2 and wedge hole SD1-A at the Sullivan Deeps Project have
both reached an important milestone horizon; the "Hiawatha" marker. The
Hiawatha marker is a thick sequence of unique sedimentary marker rocks
located stratigraphically 450 to 550 m (1,476 to 1,804 ft) above
"Sullivan-time" where the famous Sullivan deposit occurs.

During its one hundred years in operation, the historic Sullivan Mine
established thriving communities at Kimberley and Trail, British
Columbia, employed four generations of miners and produced almost 35
billion pounds of zinc and lead, and more than 285 million ounces of
silver.

Stikine's SD2 drill hole is targeting an area approximately 5 km (3 mi)
north of the Sullivan Mine and 1.3 km (0.8 mi) north-east of the
Company's 2004 discovery drill hole named 'SD1'. That hole successfully
intersected Sullivan-style massive and laminated sedimentary exhalative
("SEDEX") sulphides at Sullivan-time (see SKY #21-04 press release dated
October 1, 2004). While providing invaluable geological guidance,
previous drilling by Cominco is now demonstrated to have been located
too far to the west of the current target. When completed to target
depth, SD2 will be the eastern-most hole drilled to "Sullivan-time" and
is planned to intersect near the interpreted centre of the mineralized
corridor that also hosts the historic Stemwinder, Northstar, and
Sullivan mines.

SD2 has reached a depth of 1,911 m (6,270 ft) and intersected the
Hiawatha marker top at 1,785 m (5,856 ft) and bottom at 1,887 m (6,191
ft). Drilling activities at SD2 are now on hold until April 5, 2005
allowing for a crew break and drill maintenance.

Wedge drilling at SD1-A has now passed a depth of 1,876 m (6,156 ft)
after successfully completing an initial wedge offset. The wedge drill
hole intersected the top of the Hiawatha marker at a depth of 1,872 m
(6,142 ft). Surveys of the hole's progress taken at regular intervals
will be used to determine the need for additional wedging to reach the
planned target area, east of the SD1 discovery intersection.

Core logging and marker identification for the project is conducted by
Mr. Paul Ransom, Project Manager at Sullivan Deeps and Mr. Scott
Broughton, P.Eng. is the NI 43-101 qualified person overseeing the
project.

STIKINE GOLD CORPORATION

Scott E. Broughton, P.Eng. - President and CEO

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Stikine Gold Corporation
    Scott E. Broughton, P.Eng.
    President and CEO
    (604) 684-1900 or Toll free in North America: (888) 881-8322
    (604) 684-2902 (FAX)
    info@stikinegold.com
    www.stikinegold.com
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.