Mr. David D'Onofrio reports

WHITE GOLD CORP. ANNOUNCES $4.5 MILLION PRIVATE PLACEMENT

White Gold Corp. has arranged a non-brokered private placement for gross proceeds of $4.5-million, consisting of the sale of a combination of: (i) common shares in the capital of the company that qualify as flow-through shares within the meaning of the Income Tax Act (Canada) at a price of 26 cents per share (the flow-through (FT) shares); (ii) FT shares that will also qualify for the federal 30-per-cent critical mineral exploration tax credit at a price of 27 cents per share (the CFT (charity flow-through) shares); and (iii) common shares a price of 22 cents per share (the HD (hard-dollar) shares).

"We are very appreciative for the continued support for our exciting and impactful exploration activities to advance our significant gold deposit, which is now one of the highest-grade open-pit gold resources in Canada of such significant size owned by an exploration company, and other recent high-grade gold discoveries and additional prospective critical mineral projects on our district-scale land package in the prolific and underexplored White Gold district," stated David D'Onofrio, chief executive officer.

The gross proceeds received from the sale of the FT shares will be used to incur (or deemed to incur) Canadian exploration expenses as defined in Subsection 66.1(6) of the Income Tax Act, and the gross proceeds from the sale of the CFT (charity FT) shares will be used to incur (or deemed to incur) eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures (as both terms are defined in the Income Tax Act), related to the company's properties in the White Gold district of Yukon, on or before Dec. 31, 2025, and to renounce all the qualifying expenditures in favour of the subscribers of the FT shares and CFT shares effective Dec. 31, 2024. If the qualifying expenditures are reduced by the Canada Revenue Agency, the company will indemnify each subscriber of an FT share and CFT share for any additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed. The net proceeds from the sale of the common shares will be used for working capital and other general corporate purposes.

Closing of the offering is expected to occur on or about Dec. 20, 2024, and is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange. The securities issued pursuant to the offering will be subject to a statutory hold period of four months plus one day from the closing date of the offering in accordance with applicable securities legislation.

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 1,203,000 ounces of gold in indicated resources and 1,116,600 ounces of gold in inferred resources (1). 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 2.1 million ounces at 1.28 grams per tonne (g/t) gold and inferred resources of 200,000 ounces at 1.04 g/t gold (2), and Western Copper and Gold Corp.'s Casino project, which has measured and indicated resources of 7.6 billion pounds copper and 14.5 million ounces gold, and inferred resources of 3.3 billion pounds copper and 6.6 million ounces gold (3).

(1) See White Gold's news release dated Nov. 19, 2024, available on SEDAR+.

(2) See Newmont Corp.'s Form 10-K annual report for the year ending Dec. 31, 2023, in the measured, indicated and inferred resources section, dated Feb. 29, 2024, available on EDGAR. Reserves and resources disclosed in this Form 10-K have been prepared in accordance with the Regulation S-K 1300 and do not indicate National Instrument 43-101 compliance.

(3) See Western Copper and Gold Corp.'s technical report, titled, "Casino project, Form 43-101F1 Technical Report Feasibility Study, Yukon, Canada," effective date of June 13, 2022, issue date of Aug. 8, 2022, prepared by Daniel Roth, PE, PEng, Mike Hester, FAusIMM, John M. Marek, PE, Laurie M. Tahija, MMSA-QP, Carl Schulze, PGeo, Daniel Friedman, PEng, Scott Weston, PGeo, available on SEDAR+.

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