Mr. David D'Onofrio reports

WHITE GOLD CORP. ANNOUNCES FULLY FUNDED 2024 EXPLORATION PROGRAM ON ITS DISTRICT SCALE LAND PACKAGE IN YUKON, CANADA

White Gold Corp. has released its plans for its fully financed 2024 exploration program on its district-scale 315,000-hectare land package, representing approximately 40 per cent of the emerging White Gold district in Yukon, Canada.

The company's district-scale land package hosts its flagship White Gold project, composed of 16 million tonnes averaging 2.23 grams per tonne gold for 1,152,900 ounces 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, which remains open for expansion. The company has also made multiple new discoveries on the various other properties, identified prospective new drill targets, and continues to evaluate its grassroots properties within this underexplored and prospective district.

The 2024 program will evaluate multiple targets on the Betty and QV properties with maiden diamond drilling. At Betty, four targets, including Black Betty, Betty White East, Betty Ford West and Betty Ford, will be drill tested, and at QV, a newly discovered one-kilometre-long gold-in-soil anomaly, located approximately nine km northwest of the VG deposit, will be drill tested. A regional exploration program on several other properties includes geological mapping and prospecting, soil geochemistry sampling, ground magnetics, and very low frequency-electromagnetic and lidar surveys. The 2024 exploration program will be focused on identifying new targets with potential for increasing the company's gold resources in the district.

A map outlining the company's planned 2024 exploration work areas and target-specific maps can be found at the White Gold website.

"We are excited to kick off our 2024 exploration program," stated Terry Brace, the company's vice-president of exploration. "This year's program at the Betty property will see maiden diamond drilling at three targets that were ranked as highest priority in a recent prospectivity analysis on the Betty property, which incorporated multiple data sets, including geological structures interpreted from magnetics and lidar, and soil geochemistry. At the QV property, we are carrying out early season ground surveys, including additional soil geochemistry sampling and VLF-EM surveying over the new one-kilometre-long gold-in-soil anomaly identified last year, which will be followed by maiden diamond drill testing later this season. The geochemical signature of this anomaly is similar to the Golden Saddle and VG deposits, which is quite encouraging."

"Extensive review and analysis performed of the company's comprehensive geochemical, geophysical and geologic structural database of the entire district has guided the selection of targets for the diamond drill program on new gold targets with additional work on our copper-molybdenum porphyry targets as we continue to unlock the mineral endowment potential of this underexplored district. We look forward to an exciting year ahead as we continue to demonstrate the expansiveness of gold mineralization in the White Gold district and potentially other mineral resources," stated David D'Onofrio, chief executive officer.

Highlights:

• Exploration diamond drilling totalling 2,800 metres on five targets across two properties:
  • Betty property (eight holes, 1,600 metres): including maiden diamond drilling at Black Betty, Betty White East and Betty Ford West targets, and extensional diamond drilling at the Betty Ford target;
  • QV property (four holes, 1,200 m): early season ground surveys, including soil geochemistry sampling and VLF-EM surveying, followed by diamond drilling at the newly discovered gold-in-soil anomaly.
• Betty property: Maiden diamond drilling at the Black Betty, Betty White East and Betty Ford West targets is designed to test highest-priority areas on the Betty property, which were identified by a comprehensive prospectivity analysis through examination and synthesis of the property's geochemical, geophysical and geological structural data.
• QV property: Maiden diamond drilling will evaluate the newly discovered one-kilometre-long gold-in-soil anomaly (see company news release dated Feb. 22, 2024, available on SEDAR+), which has a geochemical signature similar to the company's VG and Golden Saddle deposits.
• Regional exploration on several other properties includes geological mapping and prospecting, soil geochemistry surveys, ground magnetics and VLF-EM surveys, and lidar designed to generate new targets for future advancement.
• Additional detail on the various components of the program will be released in due course.
• Company management will be hosting a webinar to present additional detail on the company's fully financed 2024 exploration program with details to be announced in due course.

Betty property

The Betty property is contiguous to and located approximately 40 km east of Newmont Corp.'s Coffee gold deposit (measured and indicated resources of 2.1 million ounces gold at 1.28 grams per tonne Au and inferred resources of 200,000 oz gold at 1.04 g/t Au) and 15 km northeast of Western Copper and Gold Corp.'s Casino porphyry deposit (measured and indicated resources of 7.6 billion pounds copper and 14.8 million ounces gold and inferred resources of 3.1 billion pounds copper and 6.3 million ounces gold).

The Betty property is underlain by very favourable geology, and is highly prospective for several mineral deposit types, including orogenic gold, porphyry copper-molybdenum-gold, epithermal gold-silver and intrusion-related gold deposits. The property is located on the eastern strike extension of the Coffee Creek fault, which exerts important structural controls on the Coffee deposit. The Betty Ford target, which has been an exploration focus for the past few field seasons, is located on an east-west-striking secondary splay located approximately one km south of the CCF. Exploration diamond drilling at Betty Ford has intersected thick intervals of near-surface high-grade gold mineralization along 175 m of strike length within a polylithic breccia host unit, including 3.46 g/t Au over 50.0 m in hole BETFD21D003, 3.38 g/t Au over 53.0 m in BETFD23D013 and 2.96 g/t Au over 46.50 m in BETFD23D014, including a higher-grade subinterval of 5.03 g/t Au over 25.0 m. The Mascot target, located approximately five km southeast of Betty Ford, is underlain by diorite to granodiorite intrusive rocks and covers a large cluster of gold-in-soil geochemical anomalies measuring four km east-west by four km north-south. Exploration reverse circulation and diamond drilling by the company in 2022 intersected 4.13 g/t Au over 7.62 m in hole BETMAS22RC004, 2.02 g/t Au over 8.60 m in BETMAS22D008 and 1.25 g/t Au over 17.35 m at the Davis zone, and 1.13 g/t gold and 33.71 g/t silver over 14.80 m at the Page zone. In addition to the Betty Ford and Mascot targets, the Betty property hosts several other prospective targets which have seen limited previous exploration and no diamond drilling.

A prospectivity analysis of the Betty property was recently completed by the company and Dr. Matias Sanchez of Fault Rocks Inc., which incorporated 26 data layers of structural interpretation based on lidar and magnetics, as well as extensive soil geochemistry data, to produce an integrated prospectivity ranking of orogenic gold and porphyry copper-gold targets. Three of the highest-ranked orogenic gold targets have been selected for maiden diamond drill testing in 2024: (1) Black Betty; (2) Betty White East; and (3) Betty Ford West.

Black Betty

The Black Betty target forms a 700-metre-long gold-in-soil anomaly with locally coincident anomalous copper-arsenic-bismuth. The target is located in the western region of the Betty property and immediately overlies the CCF, along with second-order northwest-trending splays of the CCF. Previous field mapping suggests that gold is hosted within strongly quartz-sericite altered felsic augen gneiss, indicating potential for orogenic gold-hosted mineralization similar to the Golden Saddle deposit. Historical rotary-air-blast drilling has been undertaken at the Black Betty target; however, the holes were unable to reach their target depths due to poor ground conditions. The planned diamond drilling represents the first diamond drill holes at the target and is anticipated to test the gold potential of the interpreted structures.

Betty White East

Betty White East, which forms an approximately two-kilometre-long gold-in-soil anomaly, is located about seven km southeast of Betty Black and is also positioned along and adjacent to the CCF. Mineralization at the Betty White East target appears to be associated with a series of second-order, northwest-trending splays related to the CCF. Gold mineralization appears to be associated with broad areas of strong sericite alteration, localized silicification and deformation of the host rocks, and coincident silver, arsenic, copper, molybdenum, zinc and bismuth soil geochemistry. Geologically, the target is thought to be composed of a combination of strongly foliated, variably sericite altered augen gneiss, banded quartzite and biotite quartz feldspar gneiss. Gold mineralization is interpreted to be vein hosted and associated primarily with pyrite and lesser arsenopyrite mineralization. The 2024 drilling program marks the first diamond drilling at the Betty White East target.

Betty Ford West

The Betty Ford West target represents a 700-metre-long-by-150-metre-wide gold-in-soil anomaly extending west from the Betty Ford target. The target is defined by a gold, arsenic and antimony soil anomaly with follow-up rock and GT probe samples returning anomalous Au (up to 0.346 g/t). The mineralization is interpreted to be hosted within strongly sericite altered feldspar augen gneiss and strongly folded biotite schist and gneiss, and is associated with disseminated pyrite and arsenopyrite. Based on ground magnetics and an induced polarization survey in the area, mineralization appears to occur at the intersection of the northwest-trending and west-trending faults. The western region of the Betty Ford West trend appears to be dextrally offset by a prominent gully fault, with the anomaly continuing westward to form the Grable target. Combined, the Betty Ford West and Grable targets cover an approximate strike length of 1.6 km.

Betty Ford

A diamond drill hole will be drilled at the Betty Ford target as part of the 2024 drilling program. Gold mineralization at the Betty Ford target is primarily hosted within the oxide and transitional domains of an approximately 100-metre-wide polylithic breccia host unit. To date, gold mineralization within these domains has been traced to an approximately 75-metre vertical depth and 175 m along strike. Additionally, broad intersections of gold mineralization have recently been identified in the sulphide domain, which may be part of a potential feeder structure responsible for broad and higher-grade near-surface gold mineralization.

The purpose of the 2024 drilling at Betty Ford is to test the eastern extent of the gold-bearing breccia while also crossing an interpreted fault to test the cross-fault extension potential. The 2024 drilling will also test for a possible eastern feeder structure of economic gold tenor within the sulphide domain to explore the vertical potential of gold mineralization at the target. An estimated 200 m of diamond drilling is planned for Betty Ford.

QV property

In 2023, a soil geochemistry survey identified a new one-kilometre-long gold-in-soil anomaly, located approximately nine km northwest of the VG deposit (see company news release dated Feb. 22, 2024). The soil anomaly generally strikes east-west. Ten samples from the anomaly returned greater than 50 parts per billion gold in the range of 51.1 to 327 ppb Au. The anomaly also has associated anomalous tellurium. Arsenic-in-soil values are low, and over all, the signature of the anomaly appears to be similar to the VG deposit and the Golden Saddle deposit, suggesting a similar style of mineralization. The strike length of the soil anomaly is generally comparable with that of the VG deposit anomaly, and remains open along strike to the east and west.

Planned exploration work on the QV property in 2024 will focus on detailing and drill testing the soil anomaly. Early season work includes additional infill and expansion soil geochemistry sampling and ground VLF-EM surveying. The infill soil samples will provide higher sample density and resolution of the anomaly, and 2-D inversions of the VLF-EM data are expected to provide a reliable dip on the associated controlling geological structure. Four diamond drill holes totalling approximately 1,200 m are planned to test the target along its strike length, with final hole locations to be selected based on results of the ground surveys.

Regional exploration

Regional exploration work, including geological mapping and prospecting, soil sampling, ground magnetics and VLF-EM surveying, and lidar will be carried out on several properties with a goal of identifying new targets for future advancement.

About White Gold Corp.

The company owns a portfolio of 15,876 quartz claims across 26 properties covering approximately 315,000 hectares (3,150 square kilometres), representing approximately 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, with measured and indicated resources of 2.1 Moz at 1.28 g/t gold and inferred resources of 200,000 oz at 1.04 g/t gold, and Western Copper and Gold's Casino project, which has measured and indicated resources of 7.6 billion pounces copper and 14.5 Moz gold and inferred resources of 3.3 billion pounds copper and 6.6 Moz gold.

Qualified person

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

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