Precious Metals

White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W ) (the "Company") is pleased to report that soil geochemistry surveys carried out during the 2021 field season on its Hayes and Pilot properties have identified significant copper, gold, and other multi-element soil anomalies. The Hayes and Pilot properties are located within the southern portion of the Company's land package (Figure 1). The Hayes property is contiguous with the Company's Betty property and is located approximately 40 km east of Western Copper and Gold Corporation's (TSX: WRN, NYSE American: WRN) Casino copper-gold porphyry deposit (M&I Resources of 14.5 Moz Gold and 7.6 Blb Copper and Inferred Resources of 6.6 Moz Gold and 3.3 Blb Copper) (4) . The Pilot property is located 55 km south-southwest of Newmont Corporation's (NYSE:NEM, TSX:NGT) Coffee gold deposit (M&I Resources of 2.17 Moz Gold and Inferred Resources of 0.50 Moz Gold) (3) .

This regional exploration work was part of the Company's fully funded 2021 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC) on its extensive land package in the emerging White Gold District, Yukon.

Highlights Include:

  • Significant new soil anomaly identified on Hayes property. Geochemical zonation and elemental distributions indicate the anomaly may represent the surface expression of a Copper-Molybdenum porphyry core surrounded by epithermal style Silver-Lead-Zinc mineralization. The anomaly is characterized by a Bismuth-Arsenic core with localized anomalous Copper-Molybdenum, and surrounding Silver-Lead-Zinc halo.
  • The core of the Hayes anomaly covers a large area of 750m by 1,000m and remains open to the west and north.
  • 3 large and geochemically distinct zones have been detailed on the Pilot by new infill soil sampling, including a 1,000m Gold-Arsenic zone, a 2,000m Copper zone and a Gold-Bismuth-Molybdenum zone.
  • The Hayes and Pilot soil anomalies have not seen detailed exploration, trenching, or drill testing. Follow-up work is currently being planned.
  • Details of the Company's fully funded 2022 exploration program focused on new discovery follow-up and continued regional evaluation to be announced in the coming weeks.

Figures accompanying this news release can be found at: https://whitegoldcorp.ca/investors/exploration-highlights/ .

Terry Brace, VP Exploration, stated, "Our regional exploration program normally constitutes a significant portion of our annual exploration budget and has continued to identify prospective new targets across our large district scale land package. Given the lack of rock outcrop and the unglaciated terrane in this part of the Yukon, soil sampling has proven to be an extremely effective early-stage exploration tool as demonstrated by these latest results. Our goal is to continually add new targets to our exploration pipeline and advance those of merit to the drill-ready stage."

"All of the significant grass roots discoveries in the White Gold District were initially identified through soil sampling. The discovery of these and other soil anomalies through our regional exploration program continues to highlight the prospectively of this underexplored district. We are encouraged by these results, especially with respect to their proximity to other significant deposits and new discoveries and are eager to follow up," stated David D'Onofrio, Chief Executive Officer.

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6d5d7c4f-2206-471b-beec-892084acb5f8

Summary of Results

Hayes Property

The Hayes property is contiguous with, and is located immediately east, of the Company's Betty property, where 2021 maiden diamond drilling at the Betty Ford target intersected significant near surface gold mineralization, including 3.46 g/t Au over 50.0m (see Company News Release dated Nov. 17, 2021). Newmont Corporation's (NYSE:NEM, TSX:NGT) Coffee gold deposit (Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au) (3) lies approximately 65 km to the west-northwest, Western Copper and Gold Corporation's (TSX: WRN, NYSE American: WRN) Casino copper-gold porphyry deposit (Measured and Indicated Resources of 14.5 Moz Au and 7.6 Blb Cu and Inferred Resources of 6.6 Moz Au and 3.3 Blb Cu) (4) is 40 km to the west, and C2C Gold Corp.'s Sonora Gulch project lies immediately south of the Hayes property.

The geology of the Hayes property is known mainly from regional scale geological mapping by the Geological Survey of Canada and Yukon Geological Survey, aided by regional aeromagnetic interpretations. The oldest rocks occur in the southern part of the property and comprise metasedimentary rocks of the pre-Late Devonian age Snowcap assemblage. These are thrust over felsic to mafic granitoids and orthogneiss of the Mississippian Simpson Range suite along the Yukon River Thrust and underlie the northern portion of the property. In the southwestern part of the property, the Snowcap assemblage is intruded by Middle Cretaceous granitoids of the Dawson Range Batholith, and in the northern part of the property plugs of the Late Cretaceous Prospector Mountain suite intrude the Simpson Range suite. The oldest known fault structure is the west to west-northwest trending Yukon River Thrust which transects the central part of the property. Major east-west striking faults, including an eastern extension of the dextral strike-slip Coffee Creek Fault in the south, also cut through the property. The northwest-trending Big Creek Fault, a relatively late major regional strike-slip fault cuts the western part of the property and is recognized as a controlling structure to many important mineral deposits in the district.

Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3f044e3c-3ede-4ee5-ad61-dac10810ab9f

The 2021 soil geochemistry program comprised sampling on 3 separate grid areas on the property, north, south and eastern grids (Figure 2). A total of 1,200 soil samples were collected at 50 m sample intervals on 100 m spaced survey lines. The most encouraging results were returned from the northern grid which measures 2 km east-west by 1.5 km north-south and lies approximately 5 km south of the Yukon River (Figure 3). The area was selected for gridded soils to follow up on isolated anomalous ridge and spur soil samples that formed part of a 2017 reconnaissance survey by the Company. The 2021 sampling identified a broad geochemically zoned multi-element soil anomaly with a central core measuring from 750 m to 1,000m in diameter and enriched in bismuth and arsenic, which is surrounded by a halo of anomalous silver, lead and zinc that is greater than 400 m wide. Anomalous copper occurs in the southern portion of the core, and a relatively small area of anomalous molybdenum occurs near the core's northern margin. Geologically the soil anomaly is associated with a plug of Late Cretaceous Prospector Mountain suite, which is known to be prospective for porphyry Cu-Au (Mo) and epithermal style mineralization. The soil anomaly overlies a magnetic high, and based on regional geological mapping and aeromagnetic results, similar intrusions occur in the immediate area and have not been covered by soil sampling. The anomaly remains completely open to the west, and currently additional soil sampling is being planned to outline the full extent of the anomaly. The geochemical zonation and elemental distributions indicate that the anomaly may represent the surface expression of a Cu-Mo porphyry core surrounded by epithermal style Ag-Pb-Zn mineralization.

Figure 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4fa7ad2f-312f-4e95-8ff3-fd59b406bc38

Pilot Property

The Pilot property is located approximately 10 km west of the White River and 40 km northeast of Beaver Creek, a small town near the Yukon - Alaska border. The property comprises 260 quartz claims covering 5,435 hectares (54.35 km 2 ).

The geology of the Pilot property is known primarily from regional geological mapping by the Geological Survey of Canada and the Yukon Geological Survey. The western part of the property is underlain by the Late Devonian age and older Scottie Creek formation, a metasedimentary sequence comprising mainly quartzites and psammitic schists. The eastern part of the property is underlain by the Late Cretaceous age Katrina Creek suite which comprises granodiorite and monzogranite. At the southeastern corner of the property, the Katrina Creek suite intrudes older meta-intrusive orthogneiss of the Late Devonian Mount Baker Suite. Isolated units of the Upper Triassic Snag Creek suite, which comprises gabbro to diabase, occur within the Scottie Creek formation and Mount Baker suite.

A northern portion of the current Pilot property was originally staked in 2000 by Teck Cominco Limited (now Teck Resources Limited) based on anomalous gold in regional stream silt samples and follow-up reconnaissance soil sampling which identified anomalous gold and arsenic values. Limited follow-up soil sampling (52 samples) by Teck in 2001 identified anomalous Au-As and Cu-Pb-Zn values, although anomalies were generally poorly defined due to the relatively small number of samples.

Figure 4 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/787cd200-3c07-4a4b-9b64-0260b639f306

Since acquiring the Pilot property in 2016, White Gold Corp. has significantly expanded the soil sampling coverage with a total of 8,434 samples collected by the Company. This includes 1,015 infill soil samples taken in 2021 (Figure 4) on two separate grids which covered known soil anomalies, a larger northern grid (1,800 m by 2,250 m) and a smaller grid (400 m x 900 m) located in the central part of the property. Previous soil sample coverage consisted of 50 m spaced samples on 100 m spaced survey lines, and the new infill sampling now provides much better resolution with 25 m sample spacings.

Figure 5 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/80767aa0-f042-4711-b365-c832e97e13f3

Soil sampling has identified 3 geochemically distinct zones: 1) gold-arsenic zone; 2) copper zone; and 3) gold-bismuth-molybdenum zone (Figure 5). The Au-As zone comprises several subparallel N-S trending Au-As anomalies that appear to be structurally controlled and individual anomalies can be traced for over 1 km along strike. The copper zone is located approximately 1 km west of the Au-As zone and consists of an arcuate shaped 2 km long Cu anomaly. This arcuate shape is also mirrored in the westernmost Au-As anomaly and indicates that similar structural and/or stratigraphic controls may be present. The Au-Bi-Mo anomaly is located approximately 2 km to the south in the central portion of the property and is more circular in shape. The source of the soil anomalies is presently unknown due to a lack of detailed geological mapping and prospecting, and complete lack of trenching and/or drilling. Geologically the Au-As anomalies are underlain by metasediments of the Scottie Creek formation. Although no major fault structures have been mapped in the immediate area of the property, aeromagnetic surveys over the northern half of the property indicate the presence of north-south trending structures that may be controlling mineralization. Mapping and prospecting, and GT Probe and/or mechanical trenching is required to identify the bedrock source of the anomalies. If results of this work are encouraging, initial RAB drilling will test the anomalies to determine the general thickness and grade of mineralization.

The Company is currently in the detailed planning stage of the 2022 exploration program, details of which will be announced in the coming weeks.

Sampling Methods and Analysis
All 2021 soil geochemistry surveys were contracted to GroundTruth Exploration Inc. of Dawson City, Yukon. Field technicians navigated to pre-planned sample sites using handheld GPS units and collected C-Horizon soil samples using an Eijklcamp brand hand auger at a depth of between 20cm and 110 cm. Typically, 400 to 500 g of soil is placed in a pre-labeled bag, and a field duplicate sample is taken once every 25 samples. The GPS location of the sample site is recorded with the GPS unit, and the waypoint location is labeled with the project name and the sample identification number. A weather-proof handheld device equipped with a barcode scanner is used in the field to record the descriptive attributes of the sample collected, including sample identification number, soil colour, soil horizon, slope, sample depth, ground and tree vegetation, sample quality, and any other relevant information.

Analytical work for the 2021 soil geochemistry surveys was carried out at Bureau Veritas (BV) Canada, with preparation completed at their Whitehorse, YT facility and analysis at their hub laboratory located in Vancouver, BC. All soil samples were assayed for gold and a 37 multi-element suite using 0.25g aqua-regia digestion and ICP-MS analysis (Code AQ201). BV is an ISO 9001:2008 accredited facility, certificate number FM63007.

About White Gold Corp.
The Company owns a portfolio of 17,584 quartz claims across 30 properties covering approximately 350,000 hectares representing over 40% of the Yukon's emerging White Gold District. The Company's flagship White Gold property hosts the Company's Golden Saddle and Arc deposits which have a mineral resource of 1,139,900 ounces Indicated at 2.28 g/t Au and 402,100 ounces Inferred at 1.39 g/t Au (1) . Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company's recently acquired VG Deposit also hosts an Inferred gold resource of 267,600 ounces at 1.62 g/t Au (2) . Regional exploration work has also produced several other new discoveries and prospective targets on the Company's claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au (3) , and Western Copper and Gold Corporation's Casino project which has Measured and Indicated Resources of 14.5 Moz Au and 7.6 Blb Cu and Inferred Resources of 6.6 Moz Au and 3.3 Blb Cu (4) . For more information visit www.whitegoldcorp.ca.

(1) See White Gold Corp. technical report titled "Technical Report for the White Gold Project, Dawson Range, Yukon Canada", Effective Date May 15, 2020, Report Date July 10, 2020, prepared by Dr. Gilles Arseneau, P.Geo., and Andrew Hamilton, P.Geo., available on SEDAR.
(2) See White Gold Corp. technical report titled "Technical Report for the QV Project, Yukon, Canada", Effective Date October 15, 2021, Report Date November 15, 2021, available on SEDAR.
(3) See Newmont Corporation news release titled "Newmont Reports 2021 Mineral Reserves of 93 Million Gold Ounces and 65 Million Gold Equivalent Ounces", dated February 24, 2022: https://www.newmont.com/investors/news-release/default.aspx .
(4) See Western Copper and Gold Corporation technical report titled "Form 43-101F1 Technical Report Preliminary Economic Assessment", Effective Date June 22, 2021, Report Date August 2, 2021 , prepared by Daniel Roth, PE, P.Eng., Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M. Tahija, MMSA-QP, Carl Schulze, P.Geo., and Daniel Friedman, P.Eng., available on SEDAR.

Qualified Person
Terry Brace, P.Geo. and Vice President of Exploration for the Company is a "qualified person" as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "proposed", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company's objectives, goals and exploration activities conducted and proposed to be conducted at the Company's properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company's properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as 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 materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company's properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading "Risks Factors" in the Company's annual information form dated July 29, 2020 available on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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

For Further Information, Please Contact:

Contact Information:
David D'Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

To Book a Meeting with Management: https://whitegoldcorp.ca/contact/request-information/


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WGO:CA
White Gold

White Gold

Overview

White Gold Corp. is a Canadian gold exploration company operating in the prolific White Gold District of Yukon, Canada.

White Gold's district scale land package spans over 420,000 hectares, representing 40% of the District and includes defined gold deposits and exciting exploration targets. The Company's gold resources include its flagship Golden Saddle and Arc deposits which collectively contain Indicated Resources of 1,140,000 ounce at 2.28 g/t Au and Inferred resources of 402,100 ounces at 1.39 g/t Au, and the VG deposit which contains Inferred Resources of 267,600 at 1.62 g/t Au all of which remain open for expansion.

Led by Shawn Ryan, our experienced team have developed an innovative data driven exploration strategy that continues to deliver significant new discoveries, while advancing a robust pipeline of exciting early-stage projects. Strategic shareholders include Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC),.

Company Highlights

  • Largest landholder in the Yukon's White Gold district, owning over 40 percent of all claims.
  • Flagship Golden Saddle deposit has an indicated resource of 1.04 million ounces grading 2.26 g/t gold, and an inferred resource of 508,700 ounces grading at 1.48 g/t gold.
  • Strong pipeline of high-grade gold exploration discoveries, including Vertigo, GS West, Ryan's Surprise targets, among multiple others.
  • Recently acquired QV property has a historical resource of 230,000 inferred ounces of gold.
  • Strategic partners with Agnico Eagle and Kinross, each owning 19 percent of the company.
  • $13 million fully funded 2019 exploration program across its land package, including on the White Gold, JP Ross and QV properties.
  • Proprietary data-driven exploration methodology, based on extensive historical exploration database.
  • Operating exclusively in the mining-friendly jurisdiction of Yukon, Canada.
  • Experienced management team has been involved with every major gold discovery in the White Gold district.

Key Projects

White Gold's Ownership Structure

White Gold has two strategic shareholders in the company: Agnico Eagle Mines Ltd. and Kinross Gold Corporation, each owning 19 percent of White Gold Corp, while sharing their wealth of technical support and experience.

Along with the company's major shareholders, White Gold's management team has extensive experience, including Shawn Ryan (Chief Technical Officer, world-famous prospector), Jodie Gibson (VP of Exploration, part of the exploration team that first discovered the Golden Saddle by Underworld Resources, which was acquired by Kinross for over $130M), and Dr. Robert Carpenter (Director, founder of Kaminak, which discovered and sold the Coffee deposit to Goldcorp for over $530 million). Each member of management has been directly involved in each of the District's major gold discoveries.

The White Gold District

The Yukon's White Gold district lies in the Tintina gold belt, a 200-kilometer-wide by 1,200 kilometer-long arc the extends from northern British Columbia into southwestern Alaska. The district was made famous in the 1896 Klondike gold rush and has historically produced 20 million ounces of placer gold. Interest in the district was reignited in 2007, primarily by Underworld's Golden Saddle discovery, and over seven million ounces of gold have been discovered since then.

Due to the prolific nature of the area, the Yukon government launched the Yukon Resource Gateway project in September 2017. The Yukon and federal governments dedicated over $360 million to improve road access into primarily two mineral-rich areas in the Yukon, which pass directly through White Gold's land package. The project is expected to help upgrade approximately 650 kilometers of road and help build or replace numerous bridges, culverts and stream crossings. The main roadway will travel through several of White Gold's properties, and through Newmont Goldcorp's Coffee project and Western Copper's Casino project, improving the road accessibility of much of the district.

Drones to Drills™ Technology

White Gold's Shawn Ryan has developed a proprietary exploration technology with GroundTruth Exploration Inc. The technology allows for year-round exploration and has a much smaller environmental footprint compared to traditional exploration methods. The technology includes the utilization of aerial drone surveys to capture images of the area which are then combined with current project scale imagery at an ultra-high resolution. Providing mineral exploration companies both effective and efficient exploration programs.

Flagship Property: White Gold

In May 2017, White Gold acquired a 100 percent interest in the properties held by Kinross in the White Gold District in the Yukon. The acquisition consisted of the White Gold property, among others. Under the terms of the agreement, Kinross attained its 19 percent interest in White Gold.

The over 34,000-hectare property is comprised of over 1,700 claims approximately 95 kilometers south of Dawson City, Yukon. The property is accessible by helicopter, airstrip and barge, and a 100-person mine camp is located nearby at the Thistle Creek camp. White Gold is aggressively developing two key deposits on the property: Golden Saddle and Arc.

Golden Saddle Deposit

The Golden Saddle deposit trends northeast and is comprised of zones of structurally-controlled gold mineralization that are commonly associated with fracture-controlled pyrite, quartz flooded breccias and stockwork quartz veins.

During the company's 2018 exploration program, White Gold discovered a new shallow zone of mineralization on trend with the existing Golden Saddle deposit. The new zone, Golden Saddle West (GS West), is located approximately 750 meters west of the Golden Saddle deposit and is on trend with several other nearby targets, including Ryan's Surprise. GS West continues to be open at depth and along strike. Some highlighted drill intervals from the zone include 24 meters grading 1.92 g/t gold and 10 meters grading 2.97 g/t gold. White Gold continues to expand the Golden Saddle deposit throughout the exploration program by identifying the Golden Saddle Upper zone (GS Upper zone).

Arc Deposit

The Arc zone is south of and adjacent to the Golden Saddle deposit. In 2017, White Gold was able to extend the strike length by 250 meters and intercepts of 12.19 meters grading at 1.52 g/t gold were recovered from the property.

2019 White Gold Property Resource Estimate Update

In June 2019, White Gold released an updated mineral resource estimate for the White Gold property. The report outlined an indicated resource of 1.03 million ounces grading 2.26 g/t gold and an inferred resource of 508,700 ounces grading at 1.48 g/t gold from the Golden Saddle and Arc deposits. Within that, there is a high-grade core that holds 832,000 gold ounces at a grade of 2.96 g/t gold indicated and 107,000 ounces at 3.18 g/t gold inferred using a cutoff greater than 1 g/t gold . Overall, White Gold was able to increase its resource at Golden Saddle and Arc by 25 percent in this update. Golden Saddle and Arc mineralization remains open along strike and down dip.

Ryan's Surprise Discovery

During the 2018 exploration season, Ryan's Surprise was discovered, located two kilometers west along trend of the Golden Saddle deposit. Ryan's Surprise is another significant discovery and has drill results including 20.64 g/t gold over a 6.1-meter intercept and 5.02 g/t gold over 13.2 meters. The discovery of the deposit was due to an 800-meter by 115-meter soil anomaly that returned values of up to 1,576 ppb gold. The showing is on trend with the Golden Saddle deposit, but the area between the showing and deposit remains historically unexplored.

Moving forward

White Gold will be conducting additional exploration on the property in order to expand the resource. Exploration will also be focused on testing and identifying new targets on the property.

White-Stewart

The 193,832-hectare White-Stewart property is comprised of 9,665 claims that sit along an 80-kilometer trend adjacent to the White Gold and JP Ross properties. The property is accessible by road, airstrip, barge, and helicopter and offers early-stage and drill-ready targets. Most of the claims on the property lie along the proposed road that will connect Newmont Goldcorp's Coffee project and Dawson City.

JP Ross

The JP Ross property is comprised of 2,251 claims that cover approximately 45,600 hectares and numerous placer gold bearing creeks. Historic exploration conducted by Underworld Resources and Kinross includes geochemical surveys, trenching, airborne magnetic and radiometric surveys and 8,592 meters of drilling. There are currently 14 known target areas and large portions of the property are still unexplored.

Vertigo target

In August 2018, White Gold encountered a near-surface high-grade gold mineralization along the Vertical trend on the JP Ross property. The Vertigo discovery had drill results of up to 23.4g/t gold and 145 g/t silver over a 24.3-meter intercept from surface, ending in mineralization, including 59.3 g/t gold and 388 g/t silver over 3.05 meters. The discovery's grab samples also included 257 g/t gold and 293 g/t silver over a 1.1-kilometer strike length. The mineralization covers at least 10 individual mineralized zones over a 350-meter by 1,000-meter area that has similar geological features to the nearby Golden Saddle deposit. Some of the identified zones have been traced up to 400 meters along strike and remains open in all directions.

Strong mineralization was also identified along a 1.1-kilometer northwest trend that remains open in all directions. In Fall 2018, White Gold also staked an additional 717 claims adjacent to the west and south of the JP Ross property, securing the land position surrounding the Vertigo discovery.

The company's 2019 exploration program includes 10,000 meters of diamond drilling at Vertigo to test the geometry of the target.

Black Hills

Black Hills is a large claim block comprised of 2,670 claims that covers significant placer gold bearing creeks. The property has three drill-ready targets and multiple, untested in-soil gold anomalies. Mineralization found at Black Hills is associated with strong quartz-sericite alteration, brecciation, quartz vein development along regional-scale fault zones. Prior exploration has left a large database comprised of soil and rock sampling, geologic mapping, airborne magnetic and radiometric surveys, trenching, and diamond core drilling.

Brew

The Brew property offers three linear in-soil gold anomalies along a 4.5-kilometer gold-molybdenum trend and values of up to 874 ppb gold have been recovered. The property displays similar structural and lithologic settings to that found on the adjacent White Gold property. The property will be drill-ready with some minor additional work.

Pedlar

The Pedlar property could potentially contain a copper-molybdenum porphyry system located 27 kilometers from Western Copper's Casino project.

QV Gold

In March 2019, White Gold acquired the 16,335-hectare QV gold project from Comstock Metals. The property is contiguous to the company's White Gold property and located 20 kilometers southwest of the Vertigo discovery. Shawn Ryan optioned the property to Comstock Metals in 2010.

Historical 2014 resource estimate

The VG zone deposit resides on the southern end of the property where the majority of the historical work has been completed. In 2014, Comstock Metals released a maiden resource estimate for the VG deposit. The report outlined an inferred resource of 4.4 million tonnes grading 1.65 g/t gold when using a 0.5 g/t gold cut-off.

Exploration

The mineralization at the QV project occurs along a northeast-trending and south-dipping structural zone that has been traced for over 700 meters at the surface. The VG deposit is open along strike and at depth and shares similarities to the Golden Saddle deposit in terms of structural setting and mineralization style. Highlights from historical drilling at this location include 42 meters grading 2.23 g/t gold, 42.3 meters grading 1.76 g/t gold and 42.6 meters grading 1.36 g/t gold.

In 2017, six diamond drill holes were completed on the VG deposit and expanded the footprint of known mineralization. Significant results include 45.5 meters grading 1.42 g/t gold and 51.2 meters grading 1.48 g/t gold.

Additional work completed on the property includes soil sampling, GT probe sampling, IP resistivity surveys, airborne magnetic-radiometric surveys, geological mapping, prospecting and RAB drilling. The work has resulted in the discovery of three zones of interest: Stewart, Tetra and Shadow.

Large portions of the property still remain unexplored.

Stewart

The Stewart zone is five kilometers north-northwest of the VG deposit and consists of a 1.5-kilometer east to west trending in-soil anomaly. The anomaly has returned values of up to 274.1 ppb gold and anomalous bismuth, silver, tellurium and molybdenum.

Tetra

The Tetra zone is eight kilometers north of the VG deposit and consists of a 1.5-kilometer east to west trending in-soil anomaly. The anomaly has returned values of up to 151.1 ppb gold.

Shadow

The Shadow zone is 12 kilometers north of the VG deposit and consists of multiple in-soil gold anomalies that have returned values of up to 514 ppb gold. The anomalies cover an area up to 2.7 kilometers long and are associated with a series of northwest and east-northeast trending structures. Strong anomalous values of silver, lead, bismuth, arsenic and molybdenum have been recovered from the area.

Sixty Mile

The 56,097-hectare Sixty Mile property is located 50 kilometers west of Dawson City, Yukon on the Sixty Mile River. The property is comprised of 2,827 claims and is accessible by road. The district that the property rests in is underexplored but has seen significant historical placer gold production of approximately 0.5 million ounces.

The district also features mineralization that is associated with the Sixty Mile-Pika (SMP) fault system and Cretaceous intrusions and offers the potential for structurally-controlled gold-silver and gold-copper skarns and a copper-gold-molybdenum porphyry-style mineralization.

Cali target

The Cali target is a 2,500-meter by 250-meter gold soil anomaly associated with the northeast extension of the SMP fault. In-soil gold values range from trace to 284.2 ppb gold and are associated with anomalous gold-arsenic-bismuth-copper-lead. Historic rock grab samples from the property have returned values of up to 1.41 g/t gold and 0.55 percent copper.

Nine target

The Nine target is an 850-meter by 500-meter in-soil gold anomaly with values that range from 525.7 ppb gold and is associated with anomalous gold-bismuth-lead-tellurium values. Historic grab samples from the property have returned grades up to 4.32 g/t gold.

Hart and Chant target

The Hart and Chant target has returned multiple in-soil gold anomalies over a four-kilometer trend along Hart Mountain Gold. In-soil anomalies are associated with anomalous silver-bismuth-tellurium and have returned values up to 645 ppb gold.

Nolan

White Gold has uncovered at least seven new in-soil gold trends and has recovered values of up to 539 ppb gold. White Gold intends to further explore the property in upcoming work programs.

Klondike

The 12,794-hectare Klondike property is comprised of 635 claims and is located 30 kilometers south of Dawson City, Yukon. The property resides in the historic Klondike goldfields and every claim block is accessible by road. The property offers the potential for structurally-controlled high-grade gold-bearing quartz veins and VMS-style gold-copper-silver mineralizations.

Hunker block

The Hunker block overlies the headwaters of five of the richest placer creeks in the Klondike goldfields. Prior exploration was focused on the King Zone, a 1,600-meter by 1,600-meter in-soil gold anomaly in the southern portion of the claim block. The northern part of the block has seen minor exploration despite known historic gold and copper-rich occurrences.

IND block

The IND block is a drill-ready targeted centered on an open two-kilometer by 500-meter anomaly associated with arsenic-bismuth-molybdenum and has returned values up to 1,273.7 ppb gold. Historic work on the block includes soil sampling, geological mapping, ground magnetic surveys, trenching and drilling. The mineralization has been associated with an east-to-west oriented zone of stockwork quartz veining and fracturing.

Money

The 25,147-hectare Money property is comprised of 1,258 claims that border numerous historic mineral occurrences and placer gold bearing creeks. The property is accessible by airstrip, barge, road and helicopter and is approximately 70 kilometers southwest of Dawson City.

Mineralization on the property is primarily associated with the east to west oriented faults and associated plays that are similar to the structures found at the White Gold and Coffee deposits to the south. The property also offers the potential for intrusion-related gold or copper-gold porphyry-style mineralizations.

Lira target

The Lira target is a 400-meter in-soil gold anomaly associated with an east to northeast oriented shear zone. Grab samples from the zones returned values up to 110 g/t gold and historic trench results include intercepts over 10 meters grading up to 13.3 g/t gold.

Dime

The Dime property is comprised of three large east-trending in soil arsenic-lead-antimony-gold values. In soil values have returned up to 6.1 g/t gold are associated with zones of silicification, brecciation, and quartz vein development along east to west structural corridors. Historic exploration highlights from the property include a 20-meter trench that graded 1.01 g/t gold and a 1.45-meter long drill hole that graded 8.32 g/t gold.

Coffee Trend East

The 43,822-hectare property is comprised of 2,196 claims that cover the eastern extension of Coffee Creek fault. The property is accessible by airstrip, barge and helicopter and is located immediately east of Newmont Goldcorp's Coffee project and immediately northeast of Western Copper's Casino project. It hosts eight known zones of mineralization and numerous untested targets.

Over $13 million has been spent on exploration by previous companies who established extensive geochemical and geophysical databases. The property can potentially host at least three styles of mineralization, including intrusion-related gold and both Coffee and White Gold-style structurally-controlled gold.

White trend

The White trend offers multiple zones of anomalous in-soil gold and has returned over 800 meters grading 1.96 g/t gold and has been associated with anomalous arsenic and antimony values. The anomalous zone is associated with pervasive sericite alteration along the second and third-order fault splays off the Coffee Creek fault and has a structure similar in setting, alteration and geochemistry to the adjacent Coffee deposit.

Mascot trend

The Mascot trend is a northeast oriented three-kilometer by one-kilometer trend of anomalous gold-silver-arsenic-bismuth-lead-antimony-zinc in soil anomalies that have returned values of up to 7.3 ppm gold. Historic drilling highlights from the Mascot trend include 13.7 meters grading 701 g/t gold and 209 g/t silver, 3.1 meters grading 29.8 g/t gold and 21.3 meters grading 1.5 g/t gold.

Betty

The Betty property is located along the extension of the Coffee Creek fault and has returned soil assay results of up to 7,288 ppb gold. Recent drilling at Betty resulted in the discovery of near-surface gold mineralization along the eastern extension of the Coffee Creek fault. The Betty Ford target returned 50.29 meters grading 1.08 g/t gold, including 9.41 meters grading 2.24 g/t gold. White gold was able to intersect mineralization in every hole at the Betty White target and recovered values of up to 3.61 g/t gold.

Hayes

The Hayes property has offered up three new gold-arsenic soil anomalies along the eastern extension of the Coffee Creek fault and has similar mineralization to the Coffee deposit. Results of up to 330 ppb gold have been recovered from the property.

Coffee Trend West

The Coffee Trend West property is comprised of three claim blocks that are located 110 kilometers southwest of Dawson City, Yukon. The total land package of the property totals 13,247 hectares and consists of 666 claims. White Gold is focused primarily on the early-stage Wolf and Line blocks. The blocks are located west of the Coffee project, but have the potential to offer structurally-controlled gold and intrusion-related gold-silver-copper-molybdenum mineralizations.

Wolf block

The Wolf block features a 4.8-kilometer by 500-meter wide in-soil gold anomaly that has returned values of trace amounts to 357.8 ppb gold that has been associated with strongly altered felsic and mafic volcanic units that offer anomalous gold-arsenic-bismuth-copper-molybdenum values.

Line block

The Line block property overlies the northern portion of the Moosehorn placer district and offers multiple in-soil gold anomalies with values that range from trace to 569 ppb gold.

Carlisle

The Carlisle property is directly adjacent to the Coffee project. The property has similar mineralization styles as the Coffee deposit and has returned up to 285 ppb gold.

Beaver Creek

The 10,214-hectare Beaver Creek property is comprised of 505 underexplored claims that offer significant exploration opportunities. The property is 45 kilometers northeast of Beaver Creek, Yukon and is located near to BCGold's Wels property, which has returned 45 meters of 8.8 g/t gold from a 2014 trenching program and intersects of 19.5 meters grading 3.3 g/t gold.

White Gold believes that there is the potential for a structurally-controlled and intrusion-related gold mineralization to be found at the Beaver Creek property. The property is accessible by helicopter and is comprised of two claim blocks: Pilot and Wells.

Pilot block

The Pilot block is comprised of an east to west oriented 1.1-kilometer by 500-meter trend of anomalous gold. Soil samples have returned trace amounts to 193 ppb gold with anomalous values of antimony and arsenic. The trend covers the headwaters of the historic placer producing Beaver Creek and the northern portion of the property has not been explored.

Wells block

The Wells block is located immediately north of BCGold's Wels property. Minor exploration has been conducted on the property and primarily consists of ridge and spur-style soil reconnaissance work. Results from the soil samples collected consists of strong anomalous arsenic, antimony and gold values that range from trace amounts to 1,698 ppb gold.

Management Team

Shawn Ryan — Chief Technical Advisor

Shawn Ryan has over 30 years of experience in prospecting for gold in the Yukon. His work in the Yukon has led to the discovery of the White Gold, Coffee and QV project. He is the founder and technical advisor of GroundTruth Exploration and is the founder of RyanWood Exploration, the company that started the second gold rush in the Yukon in 2009. Ryan has also been the recipient of the Yukon Chamber of Miner Prospector of the Year Award in 1998, the 2010 Spud Huestis Award and the 2011 PDAC Prospector of the Year Award.

David D'Onofrio — CEO

David D'Onofrio has over 10 years of experience financing and advising resource companies globally. Deep capital markets expertise with a track record of success.

Terry Brace, P.Geo. — VP Exploration

Terry brings over 25 years of diversified experience in the mineral exploration and mining industry, covering exploration, environmental management, project permitting, human resources management and community relations. Terry has held senior positions with major, mid-tier and junior companies including Teck Resources, Noranda, Pan American Silver, Cornerstone Resources and Thundermin Resources. During that time, Terry worked on and managed projects in several regions of Canada and in Latin America, with a focus on precious and base metals in a wide range of deposit types. From 2008 through 2013 he served as Vice President Exploration for Cornerstone Resources and most recently as Senior Exploration Geologist with Pan American Silver in Timmins, Ontario.

Mr. Brace holds a Master of Science degree and a Bachelor of Science degree in earth sciences (geology) from Memorial University of Newfoundland and a diploma in human resources management from McMaster University. Terry is a registered professional geoscientist (P.Geo.) in the provinces of Ontario and Newfoundland and Labrador.

Robert Carpenter, P.Geo. — Director

Robert Carpenter has 25 years of experience as a mining company executive and professional geologist. He founded Kaminak Gold Corporation where he was the President and CEO for seven years. Carpenter took the company public and was responsible for a three-million-ounce discovery on the Coffee project before the company was acquired by Goldcorp Inc for over $530M. He is the recipient of the 2010 Huestis Award for Excellence in Prospecting and Mineral Excellence. He has a Ph.D. from Western University.

FWB:29W

White Gold Corp Announces Closing of Fully Subscribed C$6 Million Private Placement Led by Eric Sprott; Agnico Eagle and Kinross Maintain 17.1 Percent Interest

Further to its news release dated May 15, 2020, White Gold Corp. (TSXV:WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce the closing of a non-brokered private placement of 6,666,667 common shares (the “FT Shares”) of the Company, issued on a flow-through basis at a price of C$0.90 per FT Share for gross proceeds to the Company of C$6,000,000 (the “Offering”). Participants include Eric Sprott, certain funds managed by Sprott Asset Management LP, and insiders Pat DiCapo and David D’Onofrio. Upon closing of the Offering, the Company will have net working capital of approximately C$9M.

Pursuant to the Investor Rights Agreement between the Company and Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) (“Agnico”) dated December 13, 2016, Agnico has maintained its 17.1% interest in the Company following the Offering. Additionally, pursuant to the Investor Rights Agreement between the Company and Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross”) dated June 14, 2017, Kinross has maintained its 17.1% interest in the Company following the Offering. In addition, certain other insiders of the Company (and together with Agnico and Kinross, the “Insiders”) acquired an aggregate of 611,112 FT Shares pursuant to the Offering.

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FWB:29W

White Gold Corp. Announces Fully Subscribed C$6 Million Private Placement of Flow-Through Common Shares; Agnico Eagle and Kinross to Maintain Interest; Eric Sprott to Participate

White Gold Corp. (TSXV:WGO, OTC – Nasdaq Intl:WHGOF, FRA:29W) (the “Company”) is pleased to announce a non-brokered private placement of 6,666,667 common shares (the “Shares”) of the Company to be issued on a flow-through basis at a price of C$0.90 per Share for gross proceeds to the Company of C$6,000,000 (the “Offering”). Participants in the Offering include Eric Sprott, certain funds managed by Sprott Asset Management LP, Pat DiCapo and David D’Onofrio.

Pursuant to the Investor Rights Agreement between the Company and Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) (“Agnico”) dated December 13, 2016, Agnico has indicated that it intends to maintain its 17.1% interest in the Company. Additionally, pursuant to the Investor Rights Agreement between the Company and Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross”) dated June 14, 2017, Kinross has indicated that it intends to maintain its 17.1% interest in the Company.

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FWB:29W

White Gold Corp. Appoints Industry Veteran Terry Brace, as Vice President, Exploration

White Gold Corp. (TSXV:WGO, OTC:WHGOF, FRA:29W) (the “Company”) is pleased to announce that Terry Brace, P. Geo. has joined the Company as Vice President of Exploration.

Terry brings over 25 years of diversified experience in the mineral exploration and mining industry, covering exploration, environmental management, project permitting, human resources management and community relations. Terry has held senior positions with major, mid-tier and junior companies including Teck Resources, Noranda, Pan American Silver, Cornerstone Resources and Thundermin Resources. During that time, Terry worked on and managed projects in several regions of Canada and in Latin America, with a focus on precious and base metals in a wide range of deposit types. From 2008 through 2013 he served as Vice President Exploration for Cornerstone Resources and most recently as Senior Exploration Geologist with Pan American Silver in Timmins, Ontario.

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FWB:29W

White Gold Corp. Further Extends VG Deposit Mineralization and Advances New High Priority Targets in Close Proximity to VG Deposit on QV Property

White Gold Corp. (TSXV:WGO, OTC: WHGOF, FRA:29W) (the “Company”) is pleased to announce positive RC drill results on its recently acquired VG Deposit located on the QV Property. The drilling extended known mineralization which remains open in all directions and shows similarities to the nearby Golden Saddle deposit. The QV Property was acquired in early 2019 and contains the VG Deposit, which hosts an historic inferred gold resource of 230,000 oz at 1.65 g/t Au(1) and several highly prospective undrilled targets in close proximity. The QV Property is historically underexplored and demonstrates strong similarities and prospective geology as that found on both the White Gold and JP Ross properties. Drilling in 2019 was designed to step-out on the VG deposit along strike to the NE and SW, and to infill gaps in the deposit’s historic resource model. The Company’s fully-funded $13 million 2019 exploration program, backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC), includes diamond drilling on the Vertigo target (JP Ross property), Golden Saddle & Arc deposits (White Gold property) as well as soil sampling, prospecting, GT Probe sampling, trenching and RAB/RC drilling on various other properties across the Company’s expansive land package located in the prolific White Gold District, Yukon, Canada.

Highlights Include:

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FWB:29W

White Gold Corp. Intercepts Significant Gold Values on Multiple New Drill Targets Across the White Gold Property

White Gold Corp. (TSXV:WGO, OTC:WHGOF, FRA:29W) (the “Company”) is pleased to announce Rotary Air Blast (RAB) drill results on multiple newly identified drill targets located across its White Gold property, in the prolific White Gold District, Yukon, Canada. Significant gold mineralization was encountered on several targets located in the area surrounding the Golden Saddle & Arc deposits. These targets were discovered through the Company’s proprietary, data driven exploration strategy and include the McKinnon East, Ulli’s Ridge, Minneapolis Creek and several other targets. The 2019 RAB drill program was designed to drill a limited number of holes per target as a preliminary evaluation of the target areas with preliminary drilling of the additional new targets and follow up to be performed in 2020. White Gold Corp’s fully-funded $13 million 2019 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) included diamond drilling on the Vertigo target (JP Ross property), Golden Saddle & Arc deposits (White Gold property) as well as soil sampling, prospecting, GT Probe, trenching and RAB/RC drilling on various other properties across the Company’s expansive land package located in the prolific White Gold District, Yukon, Canada.

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5 Top Weekly TSXV Performers: Tombill Mines Leads Gold Explorers Up

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last Friday (May 20) morning following another volatile week that sent the junior index as low as 690.

Edging just above 700 after the morning bell on Friday, markets across North America found solace after China moved to support its economy with a cut to a key lending benchmark.

On the commodities side, values for West Texas Intermediate crude oil topped US$114 a barrel last Monday (May 16), while Brent crude touched US$115. Both types had consolidated mildly by Friday to hold in the US$112 range.

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Kairos Minerals Limited (ASX: KAI) – Trading Halt

Description

The securities of Kairos Minerals Limited (‘KAI’) will be placed in trading halt at the request of KAI, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 25 May 2022 or when the announcement is released to the market.

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Top Stories This Week — Experts Talk Market Volatility, Fed's Next Move, Gold Price at VRIC

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We're taking a break from our usual format this week so I can give you a recap of the Vancouver Resource Investment Conference (VRIC), which ran from May 17 to 18.

This is the first time VRIC has been live since January 2020, and it was my first in-person event since all the way back in March 2020 — it was definitely exciting to be back on the show floor having face-to-face conversations, and I'm excited to share our interviews with you over the next couple of weeks.

For now, let's talk about VRIC themes. Although it was clear attendees were glad to be off Zoom and back in the real world, there was a sense of sobriety given the current state of the broader markets.

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As the broader markets face volatility, what is investor and speculator Rick Rule doing with his money?

Speaking to the Investing News Network at the recent Vancouver Resource Investment Conference (VRIC), Rule, who is proprietor at Rule Investment Media, said he sees today's circumstances as an opportunity.

"What bear markets really are is sales, and if you think that sales are good, then these are good," he said. He has a shopping list ready and is looking for places he can scale in, but did urge listeners to proceed with caution.

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