White Gold Corp. Announces Increase in 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 raise the amount of its previously announced non-brokered private placement, which was set at $4,500,000, to approximately $5,250,000 (the Offering). This decision follows strong interest in the Company's exploration efforts in the White Gold District.

David D'Onofrio, the Chief Executive Officer, expressed gratitude for the support, saying, "We are very grateful for the strong interest and support of our exciting and impactful exploration activities in the White Gold District."

As part of the Offering, the Company may compensate eligible finders with a fee of 7.0% of the total funds raised from the sale of Offered Shares to subscribers introduced directly by those finders. Additionally, the Company plans to grant finders a non-transferable warrant that allows them to purchase one Common Share at a price of $0.22 per share for a period of 36 months following issuance, equating to 7.0% of the Offered Shares sold.

The first tranche of the Offering is anticipated to close around December 20, 2024, pending the fulfillment of certain conditions, including the necessary regulatory approvals from the TSX Venture Exchange (the TSXV).

About White Gold Corp.

White Gold Corp. holds a substantial portfolio consisting of 15,876 quartz claims distributed across 26 properties, covering roughly 315,000 hectares (3,150 km²), nearly 40% of the White Gold District in Yukon. The flagship project features four near-surface gold deposits, estimated to contain 1,203,000 ounces of gold in Indicated Resources and 1,116,600 ounces in Inferred Resources⁽¹⁾. Furthermore, their regional exploration has led to the discovery of new prospects neighboring significant gold finds, such as the Coffee project owned by Newmont Corporation, which includes Measured and Indicated Resources of 2.1 million ounces at 1.28 g/t gold and Inferred Resources of 0.2 million ounces at 1.04 g/t gold⁽²⁾, and the Casino project owned by the Western Copper and Gold Corporation, featuring extensive copper and gold resources⁽³⁾.

_{(1) See White Gold Corp. press release dated November 19, 2024, available on SEDAR+.}

_{(2) Referencing Newmont Corporation Form 10-K for the year ending December 31, 2023.}

_{(3) Referencing the Western Copper and Gold Corporation's Casino project Technical Report.}

Forward-Looking Information

This article includes forward-looking information and statements, which encompass expectations, estimates, and projections as of the date of this release. Statements involving potential future activities, including the Offering and its regulatory approval, as well as the Company’s exploration strategies, signify forward-looking elements. Actual outcomes may differ significantly due to various risks and uncertainties, including regulatory hurdles, availability of financing, and fluctuation in commodity prices.

Readers should exercise caution and not overly rely on forward-looking statements as actual results may significantly deviate from these statements.

Neither the TSXV nor its Regulation Services Provider accepts responsibility for the accuracy of this release.

Contact Information:

David D'Onofrio

Chief Executive Officer

White Gold Corp.

(647) 930-1880

[email protected]

investment, exploration, finance