Mr. David D'Onofrio reports

WHITE GOLD CORP. CLOSES C$10 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH COMMON SHARES; AGNICO EAGLE MINES AND KINROSS GOLD CORP EACH MAINTAIN 19.9% INTEREST

White Gold Corp. has closed the brokered private placement of 10,526,720 common shares of the company, issued on a flow-through basis, at a price of 95 cents per share, for aggregate gross proceeds of approximately $10.0-million. The offering was conducted by a syndicate of agents, co-led by Clarus Securities Inc. and GMP Securities LP, and including Primary Capital Inc., Canaccord Genuity Corp. and Sprott Private Wealth LP.

The gross proceeds of the offering will be used by the company to incur Canadian exploration expenses on its properties in the White Gold district of the Yukon Territory prior to Dec. 31, 2019. The company will renounce the qualifying expenditures to subscribers of shares for the fiscal year ended Dec. 31, 2018.

David D'Onofrio, chief executive officer, stated: "We are pleased to close this financing to maintain our strong financial position and continue to pursue our exciting exploration program focused on new discoveries in the White Gold district and increasing the size of our flagship Golden Saddle deposit. We would also like to thank all parties who have been instrumental in this financing, as well as Agnico and Kinross for their continued support."

Following the offering, Agnico Eagle Mines Ltd. will continue to hold approximately 19.9 per cent of the company and Kinross Gold Corp. will continue to hold approximately 19.9 per cent of the company.

The agents received a cash commission equal to 6.0 per cent of the gross proceeds of the offering, except with respect to shares sold to certain strategic investors where the cash commission was equal to 2.0 per cent. The agents also received compensation options equal to 6.0 per cent of the number of shares sold under the offering. Each compensation option entitles the agents to purchase one share at a price of 95 cents per common share for a period of two years from the date of closing of the offering.

The shares issued pursuant to the offering (and any shares issued upon exercise of the compensation options) are subject to a statutory hold period expiring on Nov. 6, 2018. The offering remains subject to the final approval of the TSX Venture Exchange.

The company also announces that a total of 3.25 million options to purchase common shares of the company have been granted to directors, officers, employees and consultants at an exercise price of 95 cents per share, expiring on July 5, 2023. The grant is subject to regulatory approval.

Agnico and Kinross, both insiders of the company, acquired shares in connection with the offering. Pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, the company notes that it has not filed a material change report 21 days prior to the expected closing date of the offering. A shorter period was reasonable and necessary in the circumstances as the company wished to complete the offering in a timely manner following receipt of required regulatory approval.

About White Gold Corp.

The company owns a portfolio of 19,606 quartz claims across 30 properties covering over 390,000 hectares, representing approximately 40 per cent of the Yukon's White Gold district. The company's flagship White Gold property has a mineral resource of 960,970 ounces indicated at 2.43 grams per tonne gold and 262,220 ounces inferred at 1.70 grams per tonne gold as set forth in the technical report entitled "Independent Technical Report for the White Gold Project, Dawson Range, Yukon, Canada," dated March 5, 2018, filed under the company's profile on SEDAR. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate.

We seek Safe Harbor.