Mr. David D'Onofrio reports

WHITE GOLD CORP. FILES TECHNICAL REPORT FOR SIGNIFICANT INCREASE OF MINERAL RESOURCES TO 1,203,000 OZ GOLD INDICATED AND 1,116,600 OZ GOLD INFERRED ON ITS FLAGSHIP WHITE GOLD PROJECT, YUKON, CANADA

White Gold Corp. has filed a technical report in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, to update the mineral resource estimate (MRE) on its 100-per-cent-owned flagship White Gold project. The technical report, entitled, "2024 Technical Report for the White Gold Project, Dawson Range, Yukon, Canada," and dated Jan. 3, 2025 (effective date Oct. 28, 2024), has been prepared for the company by Dr. Gilles Arseneau, PGeo, of Arseneau Consulting Services Inc. (ACS). The technical report is available on SEDAR+ under the company's issuer profile.

The project is located approximately 95 kilometres (km) south of Dawson City in west-central Yukon, Canada, and is located 33 km north from the advanced Coffee project owned by Newmont Corp., with indicated resources of 2.14 million ounces (oz) at 1.23 grams per tonne (g/t) gold (Au) and inferred resources of 230,000 oz at 1.01 g/t Au (2), and 58 km northwest from Western Copper and Gold Corp.'s Casino project, which has measured and indicated resources of 7.6 billion pounds (lb) copper (Cu) and 14.5 million oz Au, and inferred resources of 3.3 billion lb Cu and 6.6 million oz Au (3).

The updated mineral resource includes a significant increase in total gold ounces, including an 18.5-per-cent increase in inferred resources and a 4.3-per-cent increase in indicated resources (see the company's news release dated Nov. 19, 2024). The White Gold project now comprises 1,203,000 ounces of gold in the indicated resource category (17.7 million tonnes averaging 2.12 g/t Au) and 1,116,600 ounces of gold in the inferred resource category (24.5 million tonnes averaging 1.42 g/t Au) at $2,000 (U.S.) per oz gold. The gold resources at the White Gold project are near surface, almost entirely captured within open pits and remain open for expansion in multiple directions with additional opportunities to increase total resources via targets within close proximity. Additional increases to the size of the resource may also be possible through a continuing analysis of the resource block model and by capturing additional ounces hosted within the target for further exploration area, which hosts an additional estimated 10 million to 12 million tonnes grading between one and two g/t Au. These results form part of the company's work program supported by strategic partners, including Agnico Eagle Mines Ltd. and Kinross Gold Corp.

"The filing of the updated MRE technical report on our flagship White Gold project represents another significant milestone on the continued growth and advancement of our deposits, which now ranks as one of the highest-grade undeveloped open-pittable gold deposits in Canada. Several opportunities exist to continue to expand the resource size through further drilling nearby targets and optimization of the resource block model and the significant target for further exploration area, which remains largely underexplored. We look forward to continuing to unlock the gold and critical mineral endowment of our prospective district-scale land package in a Tier 1 jurisdiction, which has such a prolific history and prospectivity," stated David D'Onofrio, chief executive officer.

Highlights:

• 17.66 million tonnes of indicated resources averaging 2.12 g/t gold for 1,203,000 ounces of gold, representing 52 per cent of total resources;
• 24,472,000 tonnes of inferred resources averaging 1.42 g/t gold for 1,117,000 ounces of gold, representing 48 per cent of total resources;
• Inferred and indicated mineral resources have increased by 18.5 per cent and 4.3 per cent, respectively, compared with the previous 2023 MRE (1);
• 97.5 per cent of the resources are near surface and within an open pit. Indicated resources of 1,201,000 ounces of gold averaging 2.12 grams per tonne gold (an increase of 6.7 per cent) and open-pit inferred resources of 1,061,000 ounces of gold averaging 1.38 g/t gold (an increase of 24.4 per cent);
• Mineralization at the Golden Saddle, Arc, Ryan's Surprise and VG deposits all remain open along strike and downdip to further expand the deposits and in addition to multiple underexplored targets in close proximity;
• The project also hosts an additional estimated 10 million to 12 million tonnes grading between one and two g/t Au of material classified as a target for further exploration, which has not been included in the current resource, which may further increase the size of the resource and is currently being evaluated in this regard;
• The company is also currently evaluating additional opportunities to further increase the size of the resources by optimizing the block model and wire frames of the Golden Saddle and Arc deposits to add additional tonnage;
• Additional results from the company's work program to be released in due course.

The current MRE for the White Gold project was carried out by ACS, of Vancouver, B.C., and is reported in accordance with the guidelines of the Canadian Securities Administrators National Instrument 43-101, and has been estimated in conformity with generally accepted Canadian Institute of Mining, Metallurgy and Petroleum (CIM) "Estimation and Mineral Resource and Mineral Reserve Best Practices" guidelines. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

The MRE presents updated estimates for the Golden Saddle, Arc, Ryan's Surprise and VG deposits.

The updated MRE was prepared using a block model approach using ordinary kriging interpolation for the Golden Saddle, Arc and VG deposits, and inverse distance squared (ID2) interpolation for the Ryan's Surprise deposit. Block model sizes varied between deposits as follows: Golden Saddle and Arc (10 m); Ryan's Surprise (five to 10 m); and VG (10 to 20 m). GEMS 6.8.4 software was used for generating gold mineralization solids, a topography surface and resource estimation. Statistical analysis and resource validations were performed using non-commercial software and with Sage2001. Near-surface resources were constrained using GEOVIA Whittle pit optimization software. Pit slopes in rock were assumed at 50 degrees and the MRE assumes a long-term gold price of $2,000 (U.S.) per ounce. Gold recoveries used were 92 per cent for the Golden Saddle and VG deposits, and 85 per cent for the Arc and Ryan's Surprise deposits. Gold recoveries are based on metallurgical testwork results for the Golden Saddle and Arc deposits, and are assumed for the Ryan's Surprise and VG deposits, based on their close similarities to the Arc and Golden Saddle deposits, respectively.

Mineralization on portions of both the Golden Saddle and Arc deposits is known to extend beyond the limits of the current resource estimate, however, the mineralization in these areas did not meet the criteria to be classified as mineral resources. Based on drilling at Golden Saddle and current geologic models, there is an estimated 10 million to 12 million additional tonnes grading between one and two g/t Au of material classified as a target for further exploration (TFFE). The reader should be cautioned that the potential quantity and grade of the TFFE is conceptual in nature. There has been insufficient drilling to define a mineral resource and it is uncertain if further exploration will result in the target being advanced to a mineral resource. These zones form more continuous mineralized units at $2,000 (U.S.) per oz gold, and the company plans to further evaluate this mineralization through remodelling and optimization of the block model and wire frames to determine if it can be incorporated in future resource estimates.

Resources and opportunities in the White Gold district

West-central Yukon is host to several highly prospective mineral districts, including the White Gold, Dawson Range, Klondike and Sixtymile districts. The Klondike was the epicentre of the historic Klondike gold rush in 1896 with over 20 million ounces of placer gold production having occurred in the region since that time. The company's property portfolio, which covers large portions of the White Gold district, was assembled by renowned prospector Shawn Ryan and represents the largest claim package in the region, consisting of 15,876 claims across 26 properties and covering approximately 315,000 hectares. Two significant advanced projects border the company's claims in the south, including the Coffee project, owned by Newmont, 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 (2), and Western Copper's Casino project, which has measured and indicated resources of 7.6 billion lb Cu and 14.5 million oz Au, and inferred resources of 3.3 billion lb Cu and 6.6 million oz Au (3). The region has seen significant investment by various other major mining companies recently and Yukon is consistently ranked as a top-10 mining jurisdiction on the Investment Attractiveness Index based on the Fraser Institute's annual survey of mining companies.

All four of White Gold's near-surface deposits are interpreted to represent structurally controlled orogenic gold deposits, collectively form the company's gold resource base in the heart of its large land package and remain open for expansion.

Qualified persons, technical information and quality control

The MRE for the White Gold project was prepared by Dr. Gilles Arseneau, of ACS, an independent qualified person (QP) as defined under National Instrument 43-101, who has reviewed and approved the contents of this news release. The technical content of this news release has also been reviewed and approved by Terry Brace, PGeo, vice-president of exploration for the company, who is also a QP as defined under NI 43-101, Standards of Disclosure of Mineral Projects.

QA/QC (quality assurance/quality control)

White Gold's drill core sampling consisted of collecting samples over 0.50 m to 2.50 m intervals (depending on lithology and style of mineralization) over the entire hole length. RC samples were collected at continuous 1.5 m intervals. All drill core was cut in half using a diamond saw, with half of the core placed in sample bags and the other half returned to the core box. Standard, blank and duplicate samples were inserted into both the drill core and RC sample streams at regular intervals to meet a designated QA/QC sample insertion rate. All samples were organized into batches, flown via fixed-wing aircraft from camp and transported via courier to an ISO-certified laboratory for analysis.

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 km), representing approximately 40 pepr cent of the 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 (this news release). 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 million oz at 1.28 g/t gold and inferred resources of 230,000 oz at 1.04 g/t gold (2), and Western Copper's Casino project, which has measured and indicated resources of 7.6 billion lb copper and 14.5 million oz gold, and inferred resources of 3.3 billion lb copper and 6.6 million oz gold (3).

(1) See White Gold's technical report, titled, "2023 Technical Report for the White Gold Project, Dawson Range, Yukon, Canada," effective date of April 15, 2023, report date of May 30, 2023, prepared by Dr. Arseneau, available on SEDAR+.

(2) See Newmont'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 NI 43-101 compliance.

(3) See Western Copper'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, and Scott Weston, PGeo, available on SEDAR+.

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