Whitehorse Gold Receives 5-Year Exploration Permit and Commences 18,000-metre Drill Program at Skukum Gold Project, Yukon, Canada

 Whitehorse Gold Corp. (TSXV: WHG) ("Whitehorse Gold" or the "Company") announces that it has received a Class 3 Quartz Mining Land Use Approval Permit (the "Class 3 Permit") and has commenced its 2021 exploration program on its Skukum Gold Project (the "Project"), southern Yukon.

Highlights:

• Class 3 Permit received from the Yukon Government is valid for 5-years
• Three diamond drill rigs are undertaking a planned 18,000+ metre diamond drill program
• Drill program is 100% focused on resource expansion and exploration at Skukum Creek, Goddell and Mt. Skukum gold deposits

Permitting

The Class 3 Permit process, from initiation to approval, took the Company approximately 5 months, significantly faster than the Yukon's average of 8.5 months. The Company's ability to accelerate the permitting timeline was in large part due to the support from the Carcross/Tagish First Nation.

The Class 3 Permit will enable the Company to begin to determine the economic potential of the Project, which is largely underexplored despite having three delineated deposits on the large 170-km2 property package.

Aim of 2021 Exploration Program:

• Expand the current resources through drilling
• Sample known gold occurrences to identify future potential drill targets
• Explore and test for new mineralized zones and occurrences

18,000-metre Drill Program

Two drill rigs have been mobilized to site and drilling is currently underway. A third drill rig is scheduled to arrive on site in the coming days. The 2021 drilling campaign will focus on the resource expansion at the Skukum Creek, Goddell and Mt. Skukum gold deposits, all of which remain open along strike and at depth (Figure 1).

Target Generation

The Company classifies the exploration potential at its district-scale land package as excellent. Mapping and prospecting crews are in the field and property-wide (170-km2) airborne magnetic, radiometric, and Very Low Frequency ("VLF") geophysical surveys are underway.

The 2021 exploration program will include detailed mapping and sampling adjacent to the three main deposits to identify expansion potential, and to test identified gold occurrences and targets outside of the main deposit areas.

Geologic, geochemical and alteration data when combined with the airborne magnetic/radiometric/VLF survey will develop a ranked pipeline of targets. Results of the 2021 field work will guide work programs at the Project for 2022 and beyond.

Figure 1: The Project overview map highlighting the three main deposits and the camp-mill facility

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7553/89966_bf82d5f4449958d1_004full.jpg

"We are pleased to have received the Class 3 Permit which will allow us to explore for the next 5 years. We are very grateful for the support we received from the Carcross/Tagish First Nations during the permitting process and are committed to leaving a positive legacy in the Yukon. Now that the 2021 Project drill program is underway, we are excited by the potential to grow the high-grade gold resources on the Skukum Creek, Goddell and Mt. Skukum deposits," stated Kevin Weston, CEO of Whitehorse Gold. "Additionally, our exploration teams will be investigating some of the numerous precious metal occurrences identified on our district-scale property which may lead to other discoveries."

COVID-19 Policy/Protocols:

Whitehorse Gold follows the guidance from the Chief Medical Officer of the Government of Yukon on the COVID-19 prevention and is taking precautionary measures to minimize the chance of a COVID-19 outbreak at its facilities. These include an Alternate Self Isolation Plan for workers from outside of the Yukon and conducting mandatory pre-site COVID-19 tests on site visitors, contractors and employees. It is through these measures that we strive to provide a safe workplace for those on site and local communities. Whitehorse Gold expects to update its COVID-19 protocols as required and recommended by the local authorities.

Qualified Persons

The technical information contained in this news release has been reviewed and approved by Tim Kingsley, Vice President of Exploration of Whitehorse Gold and Certified Professional Geologist (CPG-11538) with the American Institute of Professional Geologists, a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure of Mineral Projects.

ABOUT Whitehorse Gold CORP.

Whitehorse Gold is a responsible mineral exploration and development company focused on its 170-square-km Project located in southern Yukon, approximately 55 km south-southwest of Whitehorse. The Project hosts the advanced-stage Skukum Creek and Goddell deposits, and the formerly producing Mt. Skukum high-grade gold mine, all of which remain open for expansion, plus additional untested mineralized occurrences. Project infrastructure includes an all-weather access road, a 50-person camp, approximately 4.8 kms of underground development, and a previously operating 300-tpd mill and associated support facilities. Underground operations by a previous operator at Mt. Skukum from 1986 to 1988 saw 233,400 tons of ore mined and processed to recover approximately 79,750 ounces of gold.

On Behalf of Whitehorse Gold Corp.
signed "Kevin Weston"
Kevin Weston, CEO & Director

For further information please contact:
Steve Stakiw, Vice President - Corporate Affairs
Phone: 1-604-336-5919
Email: info@whitehorsegold.ca
www.whitehorsegold.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact included in this news release, including, without limitation, future plans with respect to the Project, including the 2021 work program and resource expansion plans and the Company's COVID-19 procedures; and other future plans, objectives or expectations of the Company are forward-looking statements. Forward-looking statements are often, but not always, identified by words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Forward-looking statements are based on the opinions, assumptions, factors and estimates of management considered reasonable at the date the statements are made. The opinions, assumptions, factors and estimates which may prove to be incorrect, include, but are not limited to: that market fundamentals will result in sustained precious metals demand and prices; that there are no significant disruptions affecting operations, including labour disruptions, supply disruptions, power disruptions, security disruptions, damage to or loss of equipment, whether due to flooding, political changes, title issues, intervention by local landowners, environmental concerns, pandemics (including COVID-19) or otherwise; that the Company will be able to obtain and maintain governmental and regulatory approvals, permits and licenses in connection with its current and planned operations, development and exploration activities, including at the Project; that the Company will be able to obtain / maintain social licence at the Project; that the Company will be able to complete the required upgrading and retrofitting of the Project infrastructure to be fit for the Company's planned mining activities; that the Company will be able to meet its current and future obligations; that the Company will be able to comply with environmental, health and safety laws; that the Company will be able to secure financing on suitable terms; and the assumptions underlying mineral resource estimates and the realization of such estimates.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others: social and economic impacts of COVID-19; actual exploration results; changes in project parameters as plans continue to be refined; results of future exploration activities and resource estimates; future metal prices; availability of capital and financing on acceptable terms; general economic, market or business conditions; risks associated with community relations and corporate social responsibility; uninsured risks; regulatory changes; defects in title; availability of personnel, materials and equipment on a timely basis; accidents or equipment breakdowns; delays in receiving government and regulatory approvals; unanticipated environmental impacts on operations and costs to remedy same; and other exploration risks or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

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