Mr. David D'Onofrio reports

WHITE GOLD CORP. COMPLETES OFFERINGS TO RAISE AGGREGATE GROSS PROCEEDS OF C$15 MILLION; AGNICO EAGLE MINES AND KINROSS GOLD CORP. EACH MAINTAIN 19.6% INTEREST

White Gold Corp. has completed its previously announced offering of common shares issued on a flow-through basis and concurrent brokered private placement of common shares with a syndicate of underwriters led by Clarus Securities Inc. and including GMP Securities LP, Canaccord Genuity Corp. and Sprott Private Wealth LP. The public offering consisted of the sale of five million FT shares issued at a price of $2 per FT share for aggregate gross proceeds of $10-million, and the concurrent private placement consisted of the sale of 3,333,332 common shares at a price of $1.50 per common share for aggregate gross proceeds of $5-million.

The gross proceeds from the sale of the FT shares will be used by the company to incur exploration expenditures on its properties in the White Gold district of the Yukon Territory prior to Dec. 31, 2019. The qualifying expenditures will be renounced to subscribers of FT shares for the fiscal year ended Dec. 31, 2018. The net proceeds from the sale of the common shares will be used for general corporate expenses.

Pursuant to existing investor rights agreements between the company and Agnico Eagle Mines Ltd. and the company and Kinross Gold Corp., each of Agnico and Kinross exercised its right to participate in the offering by purchasing 1,666,666 common shares pursuant to the concurrent private placement. As a result, each of Agnico and Kinross holds an approximate 19.6-per-cent interest in the company after giving effect to the offering. In addition, certain directors and officers of the company purchased an aggregate of 37,500 FT shares pursuant to the public offering.

David D'Onofrio, the chief executive officer of the company, stated: "We are very pleased to close this financing maintaining our strong financial position as we further explore our recent discoveries in the White Gold district and look to increase the size of our flagship Golden Saddle deposit. We would also like to thank all the parties who have been instrumental in this financing, as well as Agnico and Kinross for their continued support."

The underwriters received a cash commission equal to 6.5 per cent of the gross proceeds from the sale of FT shares under the public offering, and a cash commission equal to 2.0 per cent of the gross proceeds from the sale of common shares under the concurrent private placement. The underwriters also received broker warrants equal to 6 per cent of the number of FT shares sold under the public offering. Each broker warrant entitles the underwriters to purchase one common share at a price of $2 for a period of 24 months following the closing date of the offering.

Participation by the insiders in the offering was considered a related party transaction pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the insiders' participation in the offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report was filed in connection with the participation of insiders in the offering less than 21 days in advance of the closing of the offering, which the company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the offering in an expeditious manner.

The common shares issued pursuant to the concurrent private placement are subject to a statutory four-month-and-one-day hold period.

About White Gold Corp.

The company owns a portfolio of 21,218 quartz claims across 34 properties covering over 423,000 hectares representing over 40 per cent of Yukon's White Gold district. The company has outlined an aggressive exploration plan backed by partners Agnico Eagle Mines and Kinross Gold.

We seek Safe Harbor.