Mr. David D'Onofrio reports

WHITE GOLD CORP. CLOSES UPSIZED $23 MILLION PRIVATE PLACEMENT

White Gold Corp. has closed its previously announced brokered private placement consisting of the sale of units, premium flow-through units and common shares issued as flow-through shares for aggregate gross proceeds of approximately $23 million, which included the exercise in full of the agent (as defined below) option.

The offering was conducted by Clarus Securities Inc. as sole bookrunner and lead agent and a syndicate of agents including Canaccord Genuity Corp., SCP Resource Finance LP and ATB Securities Inc.

Pursuant to an existing investor rights agreement between the company and Agnico Eagle Mines Ltd., Agnico exercised its right to participate in the offering. Insider participation also included PowerOne Capital Corp., David D'Onofrio, chief executive officer, and Dylan Langille, vice-president of exploration.

"We are very grateful for the interest from new and existing shareholders as we continue to advance our flagship White Gold project, which has now grown into a leading large-scale, high-grade, open-pittable gold deposit in a Tier 1 jurisdiction in Canada. This financing provides the resources to execute our largest drill program to date to build on the recent growth, targeting expanding the high-grade core as well as further expanding and/or testing the many other targets in close proximity, as well as ongoing economic evaluation. Exploration activities will also continue to focus on unlocking value across our district-scale land package targeting gold and critical mineral opportunities in the underexplored White Gold district, which is seeing resurgent interest along with other areas of the Yukon," stated Mr. D'Onofrio, chief executive officer.

White Gold owns a portfolio of 15,364 quartz claims across 21 properties covering 305,102 hectares (3,051 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 1,732,300 ounces of gold in indicated resources (35.2 million tonnes grading 1.53 grams per tonne gold) and 1,265,900 ounces of gold in inferred resources (32.2 million tonnes grading 1.22 grams per tonne gold) (see the company's news release dated Oct. 6, 2025), with significant expansion potential on the resource itself and in the immediately surrounding area. Regional exploration work has also produced several other new discoveries and prospective targets on the company's claim packages, some of which border sizable gold and copper projects, including the Coffee project owned by Newmont Corp. (which Newmont has entered into an agreement to sell to Fuerte Metals Corp.) and Western Copper and Gold Corp.'s Casino project.

The offering consisted of the sale of: (i) 9,411,710 units at a price of 85 cents per unit; (ii) 8,547,000 flow-through units at a price of $1.17 per flow-through unit; and (iii) five million flow-through shares at a price of $1 per flow-through share. Each unit comprised one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of $1.15 for a period of 24 months following the closing date of the offering. Each flow-through unit comprised one flow-through share and one-half of one warrant. The warrants were issued pursuant to a warrant indenture dated Oct. 15, 2025, between the company and Computershare Trust Company of Canada as warrant agent. The flow-through shares (including the flow-through shares underlying the flow-through units) were issued as flow-through shares as defined in Subsection 66(15) of the Income Tax Act (Canada).

The gross proceeds from the sale of the flow-through units and the flow-through shares will be used by the company to incur exploration expenditures on its properties in the White Gold district of Yukon prior to Dec. 31, 2026. The qualifying expenditures will be renounced to subscribers of flow-through units and flow-through shares for the fiscal year ended Dec. 31, 2025. The gross proceeds from the sale of the units are expected to be used for working capital and general corporate expenses.

As consideration for the agents' services in connection with the offering, the agents received a cash commission equal to 6.0 per cent of the gross proceeds from the offering, excluding gross proceeds from the issuance of offered securities sold to Agnico from which no commission on such gross proceeds was paid by the company to agents. The company also issued to the agents non-transferable compensation options equal to 6.0 per cent of the number of offered securities sold under the offering, excluding the offered securities sold to Agnico. Each compensation option entitles the holder to acquire one common share at a price equal to the following: (i) if the security sold is a unit, 85 cents per common share; (ii) if the security sold is a flow-through unit, $1.17 per common share; and (iii) if the security sold is a flow-through share, $1 per common share, in each case, until the date that is 24 months following the closing date. The offered securities and compensation options, including any underlying securities, are subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws.

Participation by Agnico, PowerOne Capital, Mr. D'Onofrio and Mr. Langille in the offering was considered a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the insiders' participation in the offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report will be filed in connection with the participation of insiders in the offering less than 21 days in advance of the closing of the offering, which the company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the offering in an expeditious manner.

About White Gold Corp.

The company owns a portfolio of 15,364 quartz claims across 21 properties covering 305,102 hectares (3,051 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 1,732,300 ounces of gold in indicated resources and 1,265,900 ounces of gold in inferred resources (see the company's news release dated Aug. 21, 2025). Regional exploration work has also produced several other new discoveries and prospective targets on the company's claim packages, some of which border sizable gold and copper projects, including the Coffee project owned by Newmont (which Newmont has entered into an agreement to sell to Fuerte Metals) and Western Copper and Gold's Casino project.

Qualified person

Steven Walsh, PGeo, senior exploration geologist 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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