Mr. David D'Onofrio reports

WHITE GOLD CORP. INTERSECTS BROAD ZONES OF NEAR SURFACE GOLD MINERALIZATION INCLUDING 3.38 G/T AU OVER 53 M AT BETTY FORD TARGET, AND 1.4 G/T GOLD OVER 58.4 M AT VERTIGO TARGET, WHITE GOLD DISTRICT, YUKON, CANADA

White Gold Corp. has released partial results from 2023 exploration diamond drilling at the Betty Ford target on the Betty property, including 3.38 grams per tonne (g/t) gold (Au) over 53 metres from 7.30 m depth in hole BETFD23D013, which included higher-grade subintervals of 7.19 g/t Au over 6.30 m and eight g/t Au over 4.35 m. Results of diamond drilling at the Vertigo target on the JP Ross property include 1.4 g/t Au over 58.4 m in hole JPRVER23D0052 from 40.95 m depth and JPRVER23D0051, which intersected three zones of high-grade gold mineralization. Betty Ford and Vertigo are located approximately 65 kilometres southeast and 30 km northeast, respectively, from the company's flagship White Gold project in west-central Yukon, Canada, which comprises 16 million tonnes (Mt) averaging 2.23 g/t Au for 1,152,900 ounces (oz) of gold in the indicated resource category and 19 million tonnes averaging 1.54 g/t Au for 942,400 ounces of gold in the inferred resource category.

The Betty property lies along strike and approximately 40 km east-southeast of Newmont Corp.'s Coffee gold deposit with indicated resources of 2.14 million ounces (Moz) gold and inferred resources of 230,000 oz gold. The Betty property is also contiguous to and 15 km northeast of Western Copper and Gold Corp.'s Casino porphyry project with measured and indicated resources of 14.8 Moz gold and 7.6 billion pounds (Blb) copper, and inferred resources of 6.3 Moz gold and 3.1 Blb copper. The JP Ross property is road accessible and located in a prolific placer camp, with significant recorded placer gold production. These drill programs form part of the company's 2023 fully financed exploration program on its extensive and underexplored 350,000-hectare land package in the emerging White Gold district, Yukon, supported by strategic partners Agnico Eagle Mines Ltd. and Kinross Gold Corp.

"We are pleased to encounter near-surface high-grade gold mineralization over such a broad zone at Betty Ford, which remains open for expansion. Furthermore, we have also encountered the first occurrence of gold within the deeper sulphide domain of the polylithic breccia unit while testing for possible feeder structures, which represents an important development in our understanding of Betty Ford and the potential to even further extend mineralization. The diamond drilling at Vertigo has improved our structural interpretation of the known mineralization controls at this high-grade gold target. These results continue to demonstrate the expansiveness of gold mineralization in our underexplored district-scale exploration portfolio in a Tier 1 mining district," stated David D'Onofrio, chief executive officer.

Maps and images accompanying this news release can be found at the company's website. Assay results for Betty Ford and Vertigo are summarized in the tables entitled "Highlights of 2023 diamond drilling gold assay results (partial) for the Betty Ford target" and "Highlights of 2023 diamond drilling gold assay results for the Vertigo target," respectively.

Highlights:

• Betty Ford:
  • Diamond drilling consisted of four holes totalling 1,165 m to further evaluate the zone of near-surface high gold mineralization encountered in 2021 (BETFD21D003: 3.46 g/t Au over 50 m) and 2022 (BETFD22RC004: 8.94 g/t Au over 18.29 m), and also test for the presence of a mineralized buried porphyry at depth, as well as a possible feeder contact/structure for the gold mineralization.
  • BETFD23D013 intersected 3.38 g/t Au over 53 m from 7.30 m depth, including 7.19 g/t Au over 6.30 m and eight g/t Au over 4.35 m. Assays for the lower portion of BETFD23D013 from 364 m to 503 m remain outstanding.
  • BETFD23D012 intersected 1.20 g/t Au over 8.3 m from 166.7 m depth, including 5.51 g/t Au over one m, and is the first occurrence of gold within the sulphide domain of the polylithic breccia unit and also significantly extended the width of the polylithic breccia unit.
  • Based on visual inspection, holes BETFD23D014 and D015 appear to have also intersected significant zones of oxidized mineralized breccia, which has been the primary host of gold mineralization at the Betty Ford target. Assay results are pending and will be released as they are received and interpreted.
• Vertigo:
  • Diamond drilling at Vertigo was designed to test a revised structural interpretation, including identification of multiple prospective vein sets and potential for bulk-tonnage gold mineralization.
  • Five holes totalling 1,022 m tested the mineralized zone near previous trenching and drilling, as well as adjacent gold-in-soil anomalies located 250 m to 300 m to the east-northeast, southwest and south.
  • Hole JPRVER23D0052 intersected 58.4 m grading 1.4 g/t Au from 40.95 m depth, with narrower high-grade subintervals of 9.10 g/t Au over 2.85 m and 6.68 g/t Au over 4.80 m, with multiple occurrences of visible gold within the zones.
  • Hole JPRVER23D0051, located approximately 50 m west-northwest of JPRVER23D0052, intersected three narrow (less than two m) mineralized zones grading 4.37 g/t Au over 1.30 m, 15.79 g/t Au over 1.60 m and 4.17 g/t Au over 1.90 m.
  • Newly collected borehole optical televiewer data supports the structural interpretation of multiple mineralized vein sets, with two separate orientations.
  • Additional targets remain to be tested and, to date, all drilling at Vertigo has been conducted at shallow depths, with the longest hole being only 280.5 m.
• Additional results from the company's diamond drilling at the Betty Ford and Cali targets, and the regional exploration program, will be announced in due course (see company news releases dated Aug. 15, 2023, July 20, 2023, and July 6, 2023).

Precious Metals Beaver Creek

The company will be presenting and providing a corporate update at the 2023 Precious Metals Summit Beaver Creek. Management will also be participating in the one-on-one meeting program and interested conference attendees, are encouraged to request a meeting to learn more about the company and its 2023 exploration program.

Website:  visit the Precious Summit website

Date:  Sept. 12 to Sept. 15, 2023

Location:  Beaver Creek, Colo., United States

Corporate presentation:  Thursday, Sept. 14, at 4:15 p.m. MT

Betty Ford target

The Betty property comprises 860 quartz claims which cover an area of 17,127 hectares and hosts several prospective exploration targets, including Betty Ford, Mascot (BETMAS22RC005: 1.14 g/t Au over 27.43 m, BETMAS22RC004: 1.24 g/t Au over 3.05 m, 1.48 g/t Au over 9.14 m and 4.13 g/t Au over 7.62 m), Betty White, Betty Grable and Betty Black. The property is transected by the Coffee Creek fault, which exerts important structural controls on Newmont's Coffee gold deposit 40 km along strike to the west-northwest.

Gold mineralization at the Betty Ford target is hosted in a polylithic breccia unit along an east-west-striking splay structure located approximately 1.5 km south of and parallel to the Coffee Creek fault. The target, which forms an approximately one km long east-west-trending gold-in-soil anomaly, with gold values ranging from trace up to 1,961 parts per billion (ppb) Au, was initially RAB (rotary air blast) drill tested by the company in 2018, with BETFRDRAB18-002 intersecting near-surface gold mineralization averaging 1.08 g/t Au over 50.29 m from 4.57 m depth. During 2021 and 2022, the company completed 11 diamond drill holes totalling 2,297 m and two RC (reverse circulation) holes totalling 201 m to further test the target along an approximately 250 m strike length. This drilling has continued to intersect a broad zone of near-surface gold mineralization within the polylithic breccia host unit that has returned 1.17 g/t Au over 48 m in hole BETFD21D001, 3.46 g/t Au over 50 m in BETFD21D003, 1.50 g/t Au over 55.15 m in BETFD22D007 and 8.94 g/t Au over 18.29 m in BETFD22RC004, including 21.73 g/t Au over 6.10 m. Thus far, mineralization has been traced for approximately 175 m along strike and to a vertical depth of 75 m. The zone remains open primarily to the east for a minimum of 100 m and further evaluation of the target is recommended.

The 2023 diamond drilling program at the Betty Ford target comprised four holes totalling 1,165 m that was designed to test: (1) the presence of a mineralized buried porphyry at depth beneath the polylithic breccia unit; (2) a possible feeder contact/structure identified from VLF-EM (very-low frequency-electromagnetic) surveying; (3) a strong gold-in-soil anomaly in the area of an eastern gully and interpreted fault structure; and (4) controls on higher-grade gold mineralization such as that intersected in hole BETFD22RC004.

Betty Ford -- partial 2023 diamond drilling results

Assay results received to date for the 2023 Betty Ford diamond drilling program are summarized in the table entitled "Highlights of 2023 diamond drilling gold assay results (partial) for the Betty Ford target." Assays have been received for all of hole BETFD23D012 and a portion of BETFD23D013, from surface to 364 m.

Hole BETFD23D012 was drilled to test for a potential feeder contact/structure for the near-surface gold mineralization. A VLF-EM survey suggests that in this area the contact is characterized by a resistivity high to the south, and the gold mineralization encountered in existing holes appears to be at the contact zone with a resistivity low to the north. The hole collared in metasediments (three m to 42 m), and then passed downward into a feldspar porphyry dike from 42 m to 113 m (71 m) and polylithic breccia from 113 m to the end of the hole at 202 m. It appears that the VLF feature is explained by the resistivity contrast between the metasediments, and feldspar porphyry (resistivity high) and the polylithic breccia (resistivity low), and that the prospective metasedimentary-polylithic breccia contact in this area has been infilled with a dike. Of note, the hole intersected a gold mineralized zone grading 1.20 g/t Au over 8.3 m within the breccia from 166.7 m to 175 m, which is the deepest gold mineralization encountered to date at Betty Ford and is well within the sulphide domain. Additionally, the hole successfully widened the polylithic breccia to the south by approximately 50 m and now measures up to 90 m locally in true width.

BETFD23D013, with a final depth of 503 m, is the deepest hole drilled to date at Betty Ford and was designed primarily to test for the presence of a mineralized buried porphyry intrusion at depth beneath the polylithic breccia unit. The hole collared in oxidized mineralized breccia which passed downward into a transition zone to 60 m depth. The hole intersected 3.38 g/t Au over 53 m from 7.3 m depth, and included two higher-grade subintervals, including 7.19 g/t Au over 6.3 m and eight g/t Au over 4.35 m, further extending the high-grade mineralization zone 10 m to 25 m east of gold mineralization previously intersected in hole BETFD21D003, which returned 3.46 g/t Au over 50 m. The hole drilled through a thick interval of polylithic breccia down to 289.5 m, then a zone of breccia with intermittent feldspar porphyry dikes (three m to 30 m wide) from 289.5 m to 383 m, and finally continuous polylithic breccia to the end of the hole at 503 m.

Assay results for the lower portion of holes BETFD23D013 (364 m to 503 m), and holes 014 and D015, are pending and will be released as they are received and interpreted. Details on the Betty Ford target are provided in a news release issued by the company on July 6, 2023 (available on SEDAR+).

Vertigo target

The road-accessible Vertigo target is located on the JP Ross property approximately 80 km south of Dawson City, covering 76,385 hectares centred on the famed Henderson Creek placer gold area. The property hosts several prospective targets, including Vertigo, Stage Fright (JPRSF19RAB-005: 2.31 g/t Au over 16.76 m), Sabotage (JPRSAB19RAB-011: 3.42 g/t Au over 7.62 m), North Frenzy (JPRNF19RAB-002: 5.45 g/t Au over 4.57 m), Notorious (GT-probe: 24.4 g/t Au; Rock samples: 18.2 g/t Au and 33.6 g/t Ag), Life Boat (JPRLB19RAB-001: 5.41 g/t Au over 3.05 m) and others.

Gold mineralization at Vertigo is associated with quartz veining, brecciation and strong quartz-sericite-altered structures containing disseminated to locally massive arsenopyrite, galena and pyrite, and locally fine-grained visible gold within a felsic gneiss host unit. Vuggy textures and iron oxides after pyrite, as well as an interpreted early phase of potassic alteration, are common.

Gold mineralization at Vertigo occurs at a principal fault intersection between a district-scale west-northwest-trending magnetite-destructive fault zone (Vertigo FZ) and a major northeast-trending magnetic and topographic (lidar (light detection and ranging)) lineament. Gold mineralization occurs within an approximately two km by 0.8 km mag-destructive sigmoid, suggesting that a left-lateral pull-apart can be the principal controlling array. On a local scale, optical televiewer data and trench mapping confirmed that steeply dipping quartz veins predominantly follow a principal west-northwest-trend and a subordinate northeast-trend. Both vein systems crosscut at high angle to the host-rock subhorizontal foliation, while the subordinate vein array occurs parallel to open folding of northeast-axis. Over all, the geometry, magnetic character and scale of the west-northwest- and northeast-trending faults and quartz veins are encouraging, as they closely resemble the principal structures controlling gold mineralization at, respectively, the Golden Saddle and Ryan's Surprise deposits.

Initial diamond drilling at Vertigo was carried out by Kinross in 2010 with the completion of four holes totalling 521.7 m. During 2018 and 2019, White Gold carried out RAB (25 holes, 1,448.9 m) and RC drilling (36 holes, 2,551.3 m), and, in 2019, completed 46 diamond drill holes totalling 9,568.5 m. The 2018 RAB and RC holes drilled to the south (180-degree azimuth) and north (360-degree azimuth), whereas 2019 RAB, RC and diamond drill holes drilled to the north-northeast (20-degree azimuth) to test the interpreted primary west-northwest-striking and south-dipping mineralized structures. The drilling produced very encouraging results (for example, 23.44 g/t Au and 144.75 g/t Ag over 24.38 m in hole JPRVERRAB18-014, 9.46 g/t Au and 36.68 g/t Ag over 22.86 m in hole JPRVERRC18-006, and 11.64 g/t Au and 32 g/t Ag over 5.34 m in hole JPRVER19D0015 -- see the table entitled "Highlights of 2023 diamond drilling gold assay results (partial) for the Betty Ford target," and company news releases dated Dec. 6, 2018, and Aug. 8, 2019 -- with significant associated silver values.

More recently, the company has reviewed and interpreted available borehole optical televiewer and trench structural data which indicates that there are three mineralized vein sets at Vertigo: (1) the primary west-northwest-striking vein set which has been the focus of previous drilling; (2) a north-northeast (22 degrees)-striking secondary vein set which dips steeply to both the west and east; and (3) a set of narrow (up to 10 centimetres to 15 cm) sheeted quartz veins that strike east-northeast (70 degrees) and dip moderately at 55 degrees north. These latter quartz veins were exposed during mechanical trenching during the 2019 field season, and vein samples returned encouraging gold assays in the range of 1.5 g/t Au to 17.3 g/t Au, however 2019 diamond drilling did not test this newly identified vein set due to the orientation of drilling.

The 2023 diamond drilling program at the Vertigo target comprised five holes totalling 1,022 m, which tested the mineralized zone near previous trenching and drilling, as well as adjacent gold-in-soil anomalies located 250 m to 300 m to the east-northeast, southwest and south. All holes were drilled to the south-southeast (152 degrees to 155 degrees) at dips of minus-50 degrees to minus-52 degrees, and hole lengths ranged from 138 m to 233 m.

Vertigo -- 2023 diamond drilling results

Assay results for the 2023 Vertigo diamond drilling program are summarized in the table entitled "Highlights of 2023 diamond drilling gold assay results for the Vertigo target." Hole JPRVER23D052 produced the most encouraging results, intersecting 58.4 m grading 1.4 g/t Au from 40.95 m downhole, with narrower high-grade subintervals of 9.10 g/t Au over 2.85 m and 6.68 g/t Au over 4.80 m. This hole confirms that Vertigo locally contains relatively broad zones of bulk-tonnage gold mineralization. Hole JPRVER23D051 was collared approximately 50 m west-northwest of JPRVER23D0052, and intersected three discrete gold mineralized zones grading 4.37 g/t Au over 1.30 m, 15.79 g/t Au over 1.60 m and 4.17 g/t Au over 1.90 m. Intervening intervals between mineralization did not return any significant gold values, suggesting a variation in vein density and structure between the two holes.

Hole JPRVER23D053 was drilled approximately 250 m east-northeast of hole JPRVER23D052 to test a gold-in-soil anomaly and intersected a single narrow zone grading 2.77 g/t Au over 1.90 m from 64.45 m depth. Holes JPRVER23D054 and JPRVER23D055, drilled to the south and west-southwest to test additional gold-in-soil anomalies, did not encounter significant mineralization.

The 2023 diamond drilling successfully identified two primary fault and vein arrays that strike west-northwest and northeast. The higher concentration of gold in hole JPRVER23D052 is closely associated with an increase in vein and breccia structures in the hanging wall of a major fault zone, which appears to strike west-northwest. The highest gold grades (5.5 g/t to 15.6 g/t Au) are associated with multiple phases of quartz-pyrite and quartz-arsenopyrite, which is hosted in brittle-ductile vein sets and crackle and hydrothermal breccias. Additional review of the 2019 drill core and other data (geochemical and geophysical) is expected to aid in refining the structural interpretation for future drill targeting.

Additional surface targets on the project remain to be drill tested, and Vertigo has seen only relatively shallow drilling, so opportunities exist for the discovery of additional high-grade gold zones.

Quality assurance/quality control

Analytical work for the 2023 diamond drilling program was performed by Bureau Veritas (BV), an internationally recognized analytical services provider, at its North Vancouver, B.C., laboratory. Sample preparation was carried out at its Whitehorse, Yukon, facility. All diamond drill core samples were prepared using the PRP70-250 package, where samples were weighed, dried and crushed to greater than 70 per cent passing a two-millimetre sieve, then pulverized to greater than 85 per cent passing 75 microns). Core were then analyzed in accordance with BV's FA430 and MA250 packages, for both gold analysis by fire assay (30-gram fire assay with AAS (atomic absorption spectroscopy) finish) and ultratrace multielement ICP (inductively coupled plasma) analysis (0.25 g, four-acid digestion and ICP-MS (inductively coupled plasma mass spectrometry) analysis).

The reported diamond drilling sampling program work was completed using industry-standard procedures, including a quality assurance/quality control (QA/QC) program consisting of the insertion of standard, blank and duplicate samples into the sample stream. BV also runs a comprehensive QA/QC program of standards, duplicates and blanks within each sample stream.

About White Gold Corp.

The company 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 project hosts four near-surface gold deposits which collectively contain an estimated 1,152,900 ounces of gold in indicated resources and 942,400 ounces of gold in inferred resources. 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 indicated resources of 2.14 million oz at 1.23 g/t Au, and inferred resources of 230,000 oz at 1.01 g/t Au, and Western Copper and Gold Corp.'s Casino project which has measured and indicated resources of 7.6 billion pounds Cu and 14.5 Moz Au and inferred resources of 3.3 Blb Cu and 6.6 Moz Au.

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.

We seek Safe Harbor.