Stikine Gold Corporation

Stikine Gold Corporation

October 19, 2006 19:07 ET

Stikine Gold Corporation: Sullivan Deeps SD3 Drilling Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 19, 2006) - Stikine Gold Corporation (TSX VENTURE:SKY) ("Stikine") announces that diamond drilling of its third exploration hole at the Sullivan Deeps Project has passed a depth of 538 metres (1,765 feet) as of this morning's shift and has intersected the "Mat", "Above R" and "R" markers.

Drill core from SD3 is being logged by Mr. Paul Ransom, P.Geo., Stikine's Project Manager for the Sullivan Deeps Project. Mr. Ransom previously served as mine and exploration geologist for Cominco Limited for 33 years and he is a recognized expert in the geology of the Sullivan Mine and regional geology surrounding Kimberley.

The SD3 drill program is designed to further test for SEDEX/Sullivan-type massive and bedded sulphides within the Sullivan sub-basin. Stikine's SD3 drill target is located only 6 kilometres (3.7 miles) north of the historic 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 life-of-mine production would be valued at over US$40 billion.


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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