Mr. David D'Onofrio reports

WHITE GOLD CORP. COMMENCES 2022 DIAMOND DRILL PROGRAM

White Gold Corp. has begun its 2022 diamond drill program at the Ryan's Surprise and Ulli's Ridge targets on its White Gold property. These targets occur in the southern part of a 6.5-kilometre-long north-northwest gold-arsenic geochemical trend (the Ryan's trend) and are located approximately two kilometres (km) west of the company's flagship Golden Saddle and Arc deposits which have a combined mineral resource of 1,139,900 ounces (oz) indicated at 2.28 grams per tonne (g/t) gold (Au) and 402,100 ounces inferred at 1.39 g/t Au. The company's VG deposit, located approximately 11 km to the north, has an inferred gold resource of 267,600 ounces at 1.62 g/t Au. This diamond drill program forms part of the company's 2022 fully financed $6-million exploration program on its extensive and underexplored 350,000-hectare land package in the emerging White Gold district, Yukon, supported by strategic partners, including Agnico Eagle Mines Ltd. and Kinross Gold Corp.

"We are excited to kick off our eagerly anticipated 2022 exploration program with the commencement of diamond drilling at the Ryan's Surprise and Ulli's Ridge targets. In 2021, maiden diamond drilling at Ulli's discovered a significant new high-grade gold zone that we are keen to follow up on. The Ryan's trend has demonstrated significant potential to increase the company's substantial resource base in the prolific and underexplored White Gold district. The initial phase will test the extensions of the high-grade mineralized zone encountered last year and additionally test the gap area between Ryan's Surprise and Ulli's Ridge zones, with the goal of further expanding the large footprint of mineralization encountered to date. The diamond drill will then be moving to the Betty property to follow up on the 2021 high-grade discovery (3.46 g/t Au over 50.0 m in hole BETFD21D003) and to conduct maiden diamond drilling at other targets in close proximity. Additional detail on other components of the 2022 exploration program will be released in the coming weeks," stated David D'Onofrio, chief executive officer.

Highlights of 2022 exploration program on the White Gold property include:

• Approximately 2,700 metres (m) of diamond drilling is planned to further test three target areas:
  • Area around the newly discovered high-grade gold zone at Ulli's Ridge, with hole WHTULR21D004 returning 6.94 g/t Au over 19.5 m;
  • Gap area between the Ryan's Surprise and Ulli's Ridge target to determine if they form part of the same mineralized zone;
  • Infill drilling at Ryan's Surprise to provide sufficient drill spacing to conduct a potential initial mineral resource estimate.
• Additional planned 2022 work on the property includes a focused prospecting program along the entire length of the 6.5-kilometre-long Ryan's trend, with rotary air blast (RAB) drilling of the highest-priority targets scheduled in late season.
• A video replay providing a detailed overview of the 2022 exploration program can be found on the company's website.
• The company will be exhibiting at PDAC 2022 at booth No. 3,333 in the Investors Exchange from June 13 to 15 from 10 a.m. to 5 p.m. ET. Conference attendees are encouraged to visit to learn more about the company and ask any questions they may have.
• Additional details on upcoming diamond drilling on the Betty property and other components of the 2022 exploration program will be released in the coming weeks

The diamond drilling at Ryan's Surprise and Ulli's Ridge is expected to be carried out in two phases, with the initial phase targeting the high-grade gold zone at Ulli's Ridge and the gap area between the Ryan's Surprise and Ulli's Ridge targets. The drill rig will then be moved south to the company's Betty property to complete the planned diamond drilling program at the Betty Ford and Mascot targets, before returning later in the season to complete the second phase of infill drilling at Ryan's Surprise. Assay results for all drill programs will be released as they become available and interpreted by the company.

About White Gold Corp.

White Gold owns a portfolio of 17,584 quartz claims across 30 properties covering approximately 350,000 hectares representing over 40 per cent of Yukon's emerging White Gold district. The company's flagship White Gold property hosts 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 Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The company's recently acquired VG deposit also hosts an inferred gold resource of 267,600 ounces at 1.62 g/t Au. Regional exploration work has also produced several other new discoveries and prospective targets on the company's claim packages which border sizable gold discoveries, including the Coffee project owned by Newmont Corp., with measured and indicated resources of 2.17 million oz at 1.46 g/t Au and inferred resources of 500,000 oz at 1.32 g/t Au, and Western Copper and Gold Corp.'s Casino project, which has measured and indicated resources of 14.5 million oz Au and 7.6 billion pounds (lb) copper and inferred resources of 6.6 million oz Au and 3.3 billion lb copper.

Qualified person

Terry Brace, PGeo, vice-president of exploration for the company, is a qualified person as defined under National Instrument 43-101 (Standards of Disclosure of Mineral Projects) and has reviewed and approved the content of this news release.

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