Stikine Gold Corporation

Stikine Gold Corporation

October 10, 2006 16:20 ET

Stikine Gold Corporation: Sullivan Deeps SD3 Drilling Program Commences

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 10, 2006) - Stikine Gold Corporation (TSX VENTURE:SKY) ("Stikine" or the "Company") announces that a diamond drill rig and crew have been mobilized to the SD3 drill site near Kimberley, BC and drilling has commenced. The SD3 drill program will further test Stikine's Sullivan Deeps target located approximately 6 km (3.7 miles) north of the historic Sullivan Mine.

Stikine completed drill hole SD1 in October 2004 at a depth 2766 metres and SD2 in May 2005 at a depth of 2460 metres. Both drill holes successfully intersected the target horizon and recovered layered zinc-rich sulphides strongly resembling mineralization beyond the "east ore limits" of the Sullivan deposit. These intersections represent the best Sullivan-like massive and bedded sulphide drill intervals ever obtained away from the immediate vicinity of Sullivan deposit itself. The north-trending orientation of the sub-basin and of the corridor of known mineral deposits (North Star, Stemwinder and Sullivan) within it appears to be confirmed from drill holes SD1 and SD2, and by geophysics conducted by the Company and previously by Cominco.

The SD3 drill program is a continuation of Stikine's exploration for a sister deposit to the legendary Sullivan Mine which operated for nearly a century until closing in late 2001. According to the Province of British Columbia, the Sullivan Mine produced approximately 17.5 billion lbs of zinc (Zn), 18.5 billion lbs of lead (Pb) and 298 million ozs of silver (Ag) along with other associated metals. Using current metal prices, Sullivan's production would be valued at over US$40 billion.


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

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