White Gold Corp. Announces Increased Private Placement

Not for distribution to U.S. newswire services or dissemination in the United States.

TORONTO, Dec. 19, 2024 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is excited to share that it plans to expand its previously announced non-brokered private placement. Initially set at $4,500,000, the funding goal has now increased to approximately $5,250,000 (the "Offering").

David D'Onofrio, the Chief Executive Officer, expressed gratitude, stating, "We appreciate the strong interest and support for our exploration initiatives in the White Gold District." This reflects confidence in the company's efforts and potential growth in the mining sector.

As part of the Offering, the Company may compensate eligible finders with a fee amounting to 7.0% of the gross proceeds from the sale of Offered Shares to subscribers they directly introduce. Furthermore, such finders might receive non-transferable warrants amounting to 7.0% of the number of Offered Shares sold, with each warrant allowing the holder to acquire one Common Share at a price of $0.22 for a period of 36 months from issuance.

The first tranche of the Offering is expected to close around December 20, 2024, contingent upon meeting regulatory requirements, including obtaining the necessary approvals from the TSX Venture Exchange (the "TSXV").

About White Gold Corp.

White Gold Corp. possesses a significant interest in mineral exploration in the Yukon, owning a portfolio of 15,876 quartz claims spanning 26 properties, covering about 315,000 hectares (or 3,150 km²), which is roughly 40% of the emerging White Gold District. The Company's flagship White Gold project includes four near-surface gold deposits, collectively estimated to contain 1,203,000 ounces of gold in Indicated Resources and 1,116,600 ounces in Inferred Resources⁽¹⁾. This showcases the Company's robust position in the mining industry.

Regional exploration efforts have led to further discoveries and several promising targets within the Company's claims. These claims are strategically located next to significant gold finds, including Newmont Corporation's Coffee project with resources of 2.1 million ounces at 1.28 g/t gold and Western Copper and Gold Corporation's Casino project, boasting 7.6 billion pounds of copper alongside 14.5 million ounces of gold⁽²⁾.

For more details, please visit www.whitegoldcorp.ca.

_{(1) For additional information, refer to White Gold Corp.'s press release dated November 19, 2024, available on SEDAR+.}

_{(2) Resources data is derived from the Newmont Corporation Annual Report and the Western Copper and Gold Corporation technical report.}

Cautionary Note Regarding Forward-Looking Information

This news release includes "forward-looking information" and "forward-looking statements" as defined by applicable Canadian securities legislation. These statements, apart from those of historical fact, represent future expectations, estimates, and projections. They may involve predictions regarding the Offering, regulatory approvals, exploration activities, and the Company’s growth potential.

Actual results may differ significantly from those anticipated due to various risks and uncertainties. Factors influencing these results include regulatory approval timelines, the successful execution of the Offering, potential exploration outcomes, and macroeconomic variables.

While the Company believes its forward-looking statements are based on reasonable assumptions, no assurance can be given that actual outcomes will align with those expectations.

The TSXV and its Regulation Services Provider do not accept responsibility for the accuracy of this release.

Contact Information:

David D'Onofrio

Chief Executive Officer

White Gold Corp.

(647) 930-1880

[email protected]

investment, funding, exploration