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TORONTO, November 25, 2021 (GLOBE NEWSWIRE) – White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the “Society” Where “White gold“) is pleased to announce a non-brokered private placement of flow-through common shares at a price of $ 0.98 per share (each a “Flow-through sharing of tranche 1“), Flow-through common shares at a price of $ 0.80 per share (each a”Flow-through portion of tranche 2“) And common shares in the capital of the Company at a price of $ 0.70 per common share (each a”Common To share”) For total gross proceeds of approximately $ 9,000,000.

Pursuant to an 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 increase its stake in the Company to 19.9% ​​after the offer.

“We are very grateful for the continued support of our exciting and impactful exploration activities in the prolific White Gold District. Details on our future activities will be provided in due course, ”said David D’Onofrio, President and CEO.

Each Tranche 1 flow-through share and tranche 2 flow-through share will be issued as a “flow-through share” as defined in subsection 66 (15) of the Income Tax Act (Canada) (the “Tax law“). The gross proceeds from the sale of the Tranche 1 flow-through shares and the Tranche 2 flow-through shares will be used by the Company to incur “exploration expenses in Canada” which will be qualified as “flow-through mining expenses”, according to the terms. are defined in the Tax Act on its properties in the White Gold District of the Yukon Territory (the “”Eligible expenses“) no later than December 31, 2022. The Eligible Expenses will be waived to subscribers of Tranche 1 Flow-Through Shares and Tranche 2 Flow-Through Shares with an effective date no later than December 31, 2021. The net proceeds of the sale of Shares will be used for working capital and other general corporate purposes.

The Tranche 1 Flow-Through Shares, Tranche 2 Flow-Through Shares and Shares to be issued in connection with the Offering will be offered in accordance with applicable exemptions from prospectus requirements under applicable securities laws. The placement is expected to close on or around December 21, 2021 (the “Closing DateThe securities issued under the offering will be subject to a legal hold period of four months plus one day from the closing date in accordance with applicable securities legislation.

Participation of Agnico and any other insider of the Company (collectively, the “Insiders“), in connection with the offer will be considered a” related party transaction “in accordance with Multilateral Instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101“). The Company will be exempt from the requirements to obtain a formal assessment or approval of minority shareholders in connection with the participation of insiders in the offer under sections 5.5 (a) and 5.7 (1) (a). of Regulation 61-101. A material change report will be filed in connection with the participation of Insiders in the Offer less than 21 days before the closing of the Offer, which the Company has deemed reasonable in the circumstances in order to be able to take advantage of opportunities to financing and complete the Offer as soon as possible.

This proposed offering is subject to receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange (“TSXV“).

About White Gold Corp.

The Company has a portfolio of 21,111 quartz claims spread over 31 properties covering more than 420,000 hectares representing over 40% of the emerging White Gold District of the Yukon. The Company’s flagship white gold property is home to 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 To(1). Mineralization at Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s VG deposit acquired in March 2019 contains an inferred gold resource of 267,000 ounces at 1.62 g / t Au(2). Regional exploration work has also produced several other new discoveries and potential targets on the Company’s claim sets that border important gold discoveries, including the Coffee project owned by Newmont Corporation and the Casino project by Western Copper and Gold Corporation. . For more information, visit www.whitegoldcorp.ca.

(1) See the White Gold Corp. technical report. titled “Technical Report for the White Gold Project, Dawson Range, Yukon Canada”, dated July 10, 2020, prepared by Dr Gilles Arseneau, P.Geo., and Andrew Hamilton, P.Geo. , available on SEDAR.

(2) See the White Gold Corp press release. dated November 11, 2021 “White Gold Corp. Announces a 16% increase in inferred resources at its VG deposit located 11 km north of its flagship Golden Saddle and Arc deposits, Yukon, Canada, ”available on SEDAR.

Qualified person

Terry Brace, P.Geo. and Vice-President of Exploration of the Company is a “qualified person” within the meaning of NI 43-101 – Disclosure standards for mining projects and has reviewed and approved the contents of this press release.

Caution regarding forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement involving discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance, “anticipates” or “does not anticipate”, “anticipate”, “proposed”, “budget”, ” planned “,” foresees “,” considers “,” believes “or” intends “or variations of these words and expressions or indicating that certain actions, events or results” may “or” could “,” would “, “Could” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this press release, forward-looking statements relate to, among other things, the offering, the use of the proceeds of the offering, the receipt of all required regulatory approvals, including the approval of the TSXV, the objectives, purposes and the Company’s exploration activities carried out and proposed to be carried out on the Company’s properties; the potential for future growth of the Company, including whether the proposed exploration programs on any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and the availability of financing. These forward-looking statements are based on reasonable assumptions and estimates of the management of the Company at the time these statements were made. Actual future results may differ materially, as forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the results, performance or achievements. futures expressed or implied by these forward-looking statements. These factors include, among others: the expected benefits to the Company from exploration conducted and proposed on the White Gold properties; receipt of all regulatory approvals applicable to the Offer; failure to identify additional mineral resources or significant mineralization; the preliminary nature of the results of metallurgical tests; uncertainties relating to the availability and costs of financing required in the future, including to finance any exploration program on the Company’s properties; the risks of trade integration; fluctuations in general macroeconomic conditions; fluctuations in the securities markets; fluctuations in the spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the exchange rate of the Canadian dollar to the US dollar); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with exploration, development and mining activities (including environmental hazards, industrial accidents, unusual or unexpected forming pressures, collapses and floods); failure to obtain adequate insurance to cover risks and dangers; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; the relationships and claims of local communities and indigenous populations; the availability of increasing costs associated with mining inputs and labor; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the improbability that the properties that are explored will ultimately be developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be assessed; the results of the soil sampling being preliminary in nature and do not constitute conclusive evidence of the probability of a mineral deposit; property title ; persistent uncertainties related to the COVID-19 pandemic; and the factors described under the heading “Risk Factors” in the Company’s Annual Information Form dated July 29, 2020 available on SEDAR. Although the forward-looking statements contained in this press release are based on what the 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 these. forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or expected. Therefore, 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 in developing such forward-looking information, will prove to be correct. The Company does not undertake to publicly release revisions to update voluntary forward-looking statements, except as required by applicable securities law.

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

For more information, please contact:

Contact details:

David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
[email protected]


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