Mr. David D'Onofrio reports

WHITE GOLD CORP. ANNOUNCES SPIN-OUT TO CREATE A YUKON FOCUSED PUBLICLY LISTED CRITICAL MINERALS EXPLORATION COMPANY

White Gold Corp. has commenced procedures for a spinout transaction to create a new, Yukon-focused critical minerals exploration company (SpinCo). The spinout is designed to unlock the value of White Gold's non-gold project portfolio by transferring its portfolio of copper, molybdenum, tungsten and other critical mineral properties located in west-central Yukon into a dedicated, stand-alone vehicle with shares to be distributed to shareholders. Included below is an overview of the spinout and properties to be transferred to SpinCo. Additional details will be provided as the procedure continues to advance.

The proposed transaction will enable the company to focus on advancing its flagship White Gold project which hosts four near-surface gold deposits, that 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 g/t Au) (see the company's news release dated Oct. 6, 2025), with significant expansion potential on the resource itself and in the immediately surrounding area, complimented by a substantial pipeline of gold targets across the company's district scale property portfolio. The spinout will provide shareholders with direct exposure to a significant portfolio of critical mineral exploration projects prospective for copper, molybdenum, tungsten, silver and other strategic metals to be efficiently advanced by a dedicated team and resources.

The spinout portfolio includes several large-scale critical minerals targets prospective for copper (Cu), molybdenum (Mo), tungsten (W), antimony (Sb), zinc (Zn) and bismuth (Bi), underlain by highly prospective geology which were identified through White Gold's data-driven exploration methodologies which have proven to be successful in the region. Key targets -- including the Bridget, Isaac and Mascot -- are situated within the Dawson Range, a prolific east-southeast-trending mineral belt that hosts several significant copper-gold porphyry deposits including the Casino deposit (one of the largest undeveloped copper-gold projects in Canada), the Minto mine and the Carmacks project.

"Over the past several years, White Gold has systematically built one of the most comprehensive regional geochemical and geological data sets in the Yukon, which has clearly highlighted the scale and quality of several copper and critical mineral targets within our portfolio in addition to our highly prospective gold projects. Assets such as Bridget, Isaac and Wolf exhibit the size, metal zonation and geophysical signatures typically associated with large, fertile porphyry systems, yet remain largely untested by drilling. Spinning these assets into a dedicated vehicle allows them to be advanced more effectively with the technical focus and disciplined exploration strategy they warrant," commented Dylan Langille, vice-president of exploration for White Gold.

White Gold's chief executive officer, David D'Onofrio, stated: "The timing of this proposed spinout aligns exceptionally well with the strong and growing support we are seeing from both the Yukon and federal governments for the responsible development of critical minerals. Recent initiatives focused on advancing critical mineral exploration, improving infrastructure, streamlining permitting, and strengthening collaboration across Western and Northern Canada reinforce Yukon's position as a globally desirable jurisdiction for discovery and development. By creating a dedicated critical minerals company, we believe we are positioning these assets to directly benefit from this supportive policy environment, while providing shareholders with focused exposure to commodities that are increasingly central to Canada's long-term economic and supply chain strategies."

SpinCo highlights:

• Six properties representing approximately 15 per cent of White Gold's current claims which includes numerous copper and strategic metals targets (Cu, Mo, W, Sb, Zn, Bi) remain largely unevaluated and undrilled, presenting significant discovery upside.
• Highly prospective geology for copper, molybdenum, tungsten, antimony and bismuth across multiple deposit styles.
• District-scale exploration database covering the company's entire land package, including soil geochemical samples and geophysical testing, have outlined multiple large, high-priority critical mineral anomalies.
• Key targets -- Bridget, Isaac and Mascot -- situated within the Dawson Range, a proven mineral belt hosting major copper-gold systems such as the Casino deposit, Minto mine and the Carmacks project.
• The Bridget target, the most significant, untested porphyry system in the company's critical mineral portfolio, comprises a Mo-Cu porphyry anomaly covering a three-by-3.5-kilometre area enriched with tungsten, bismuth and silver, and is transected by two large northwest-trending major crustal-scale dextral transpressional faults. An initial technical report on this property will be filed in connection with the spinout.
• Several of the spinout targets include additional upside potential for antimony and bismuth as secondary metals across orogenic gold, intrusion-related, epithermal and porphyry systems.
• Further details on the spinout transaction to be provided as the process continues to advance with a near-term anticipated completion, subject to shareholder and regulatory approvals.

Spinout of critical mineral portfolio

The spinout will be completed by way of a plan of arrangement under the Business Corporations Act (Ontario) and subject to the terms and conditions of an arrangement agreement to be entered into between the company and SpinCo. Completion of the spinout will also be conditional on the receipt of shareholder approval, and regulatory and court approvals, including, without limitation, the approval of the TSX Venture Exchange. It is intended that SpinCo will apply to list its shares on the TSX-V and such listing will be subject to SpinCo fulfilling all of the requirements of the TSX-V.

Additional details relating to the spinout will be provided when the company enters into the arrangement agreement. They will also be included in the management information circular in respect of the shareholders' meeting to be held to consider and approve, among other things, the spinout. Copies of the management information circular and related meeting materials will also be filed with the applicable Canadian securities regulators and will be available on SEDAR+.

Regional setting -- the Dawson Range and critical mineral belt

The Dawson Range is an east-southeast-trending mountain belt that hosts numerous significant mineral deposits and prospects along the Minto-Carmacks copper belt, including the Casino copper-gold porphyry deposit in the west owned by Western Copper and Gold. In the southeast near the community of Carmacks, the Minto mine owned by Selkirk Copper Mines Inc. contains indicated resources of 12,588,000 t (tonnes) grading 1.203 per cent Cu, 0.461 g/t Au, 1,728 ounces Ag for 333.8 Mlb (million pounds) copper, 186,600 oz gold, and 1,728,000 ounces silver and inferred resources of 23,658,000 t grading 1.048 per cent Cu, 0.387 g/t Au, 3.9 g/t Ag for 546.8 Mlb copper, 294,700 ounces gold and 2,968.1 ounces silver. It also hosts the Carmacks Copper project, which contains measured and indicated resources of 36.25 Mt grading 0.81 per cent Cu, 3.25 g/t Ag, 0.26 g/t Au for 651 Mlb of copper, 3.79 M ounces silver and 302,000 ounces of gold, owned by Cascadia Minerals Ltd. Both deposits are interpreted as metamorphosed copper-gold-silver porphyry systems. Porphyry deposits in the Dawson Range occur in two principal age groups: Late Triassic (for example, Minto, Carmacks) and Late Cretaceous (for example, Casino, Cash, Revenue). In addition to porphyry-style mineralization, the Dawson Range also hosts epithermal, skarn and polymetallic to gold-dominant veins, breccias and fracture zones. Owing to this diverse and highly prospective mineral endowment, the region has attracted increasing attention and investment in recent years from both junior and major mining companies.

Critical minerals portfolio overview

The assets proposed to be transferred to SpinCo include six core properties that collectively represent a pipeline of advanced to early stage critical mineral exploration opportunities across multiple prolific metallogenic belts in Yukon. Highlights include:

Bridget property -- Bridget target

The Bridget target is a standout Mo-Cu porphyry anomaly with one of the highest molybdenum-in-soil signatures in the White gold district, spanning a three by 3.5 km area and enriched with additional critical elements like tungsten, bismuth and silver. It is transected by two large northwest-trending major crustal-scale dextral transpressional faults -- the Sixtymile River Fault and Big Creek Fault. Both faults host several significant multielement porphyry and epithermal deposits. The target was initially identified in 1972 when Silver Standard Mines conducted an extensive 14,000-plus regional silt survey looking for another Casino deposit.

Geologically, the target is underlain by hornblende gneiss, biotite schists and calc-silicate altered marble (skarn), intruded by quartz eye granite and aplite dikes. The soil geochemical footprint of the anomaly is characterized by Mo-in-soil values as high as 321.9 parts per million Mo, including 278.9 ppm Mo, 265.4 ppm Mo, 263.5 ppm Mo, 257.2 ppm Mo and 253.3 ppm Mo with over 400 additional samples returning values greater than 20 ppm Mo. Across the target, anomalous Cu-in-soil values exceeding 100 ppm Cu are common with the most significant enrichment occurring at the core with values as high as 710.1 ppm Cu, including 662.6 ppm Cu, 594.7 ppm Cu, 492.9 ppm Cu, 406 ppm Cu observed over a roughly 900 m by 900 m area. Other notably enriched critical minerals include tungsten (W), with the highest concentrations observed in the northern half of the target area, where soil sampling has yielded values up to 101 ppm W, with values exceeding 30 ppm W common. Other anomalous metals including Pb, Bi, As, Zn and Ag are typically observed over two large northwest-southeast-oriented fault systems which cut the target in the north and in the south. Two rounds of IP geophysics performed in 2023 and 2025 have identified favourable subsurface chargeability and resistivity anomalies beneath the strong surface Cu-Mo-Zn-W soil geochemistry signatures.

The 2025 Bridget IP survey delineated multiple high-priority anomalies, including five porphyry targets defined by chargeability, resistivity, metal factor and 2-D inversion models. These geophysical features are directly associated with the large multielement soil anomalies measuring three by 4.3 km. Together, these results represent strong evidence of the potential for concealed porphyry style mineralization system at Bridget.

Its size, multielement enrichment, proximity to key structures and lack of drilling make it the company's most significant untested porphyry system and a critical priority for diamond drilling. An initial technical report on this property will be filed in connection with the spinout.

Loonie property -- Guilder target

Located adjacent to a known Cu-Au prospect (Lucky Joe), the Guilder target on the Loonie property hosts a three km long, northwest-southeast-trending Cu-Mo-Au-Zn-Pb soil anomaly, which appears to be a northwestern extension of the Lucky Joe target. Prospecting on the Guilder target has uncovered malachite and chalcocite, hosted by quartz-feldspar-biotite schist, near an outcrop of augen gneiss. Samples from this showing returned 1114.8 ppm Cu and 6.1 g/t. Its proximity to historic mineralization and copper association makes it an attractive early stage critical mineral target for follow-up work.

Wolf property -- Aries and Taurus targets

The Aries target on Wolf property is an interpreted porphyry system that is characterized by a central zone of copper and molybdenum anomalies, surrounded by a large peripheral zone enriched in bismuth, arsenic, lead and zinc. This forms a footprint measuring approximately four km in length (northeast-southwest) and three km in width (northwest-southeast). To the northeast, the Aries target transitions from a gold-dominant system into a potential porphyry system. This area's molybdenum-in-soil values reach as high as 51.4 ppm, with the bulk of the anomaly showing values above five ppm. Copper-in-soil values peak at 923.9 ppm, with notable results such as 637.8 ppm, 630.8 ppm and 600.6 ppm Cu, located near areas enriched in arsenic and bismuth. Previous drilling on the property has been gold-focused and the property remains largely untested and highly prospective for several critical minerals including Mo and Cu.

The Wolf property is located east of the White River, approximately 120 km south-southwest of Dawson City and 35 km west of the White gold project. Two main target areas have been identified on the property, the Aries and Taurus targets. The area is predominantly underlain by hornblende-biotite diorite intruded by medium-grained and megacrystic K-feldspar granites. These intrusions are associated with widespread biotite and potassic alteration, which are key indicators of potential porphyry mineralization.

To the north and northeast, the property is underlain by Late Cretaceous Carmacks volcanic units, including andesite and basalt flows, and siliciclastic basal conglomerates. Cu-Mo enrichment appears to be localized along the contact between these volcanic units and the adjacent granites while gold mineralization is concentrated in the southwestern part of the property (Taurus target) in shreddy biotite and k-spar altered hornblende-biotite diorites. The Taurus target features a gold-in-soil anomaly that spans approximately two km long by 0.5 km wide, with maximum gold values reaching 358 ppb Au. The anomaly has an arcuate shape, trending east-west in the southwest and curving northeast-southwest to the east. GT Probe bedrock sampling returned gold values up to 1.22 g/t Au, with several samples exceeding 0.5 g/t Au. In 2023 RAB drilling of the target returned gold values of up to 0.81 g/t Au over 15.24 m from 19.81m (hole WLFTRS23RAB002) including 6.55 g/t Au over 1.52 m, along with 0.32 g/t Au over 30.47 m) from 13.72 m in hole WLFTRS23RAB002.

Hunker property -- Bum, Mint and Boxcar targets

The Hunker property includes historical high-grade Cu-Ag showings and a large Cu-Au soil anomaly at Mint Pup (2.5 km by 2.7 km), with recent rock and soil samples showing strong copper values and porphyry-related alteration. Its location in the Klondike goldfields and multiple Cu-Au showings make it a prime candidate for deeper exploration and geophysical targeting

Hayes property -- Isaac target

The Isaac target measures approximately two km east-west by 1.5 km north-south with a central bismuth-arsenic-enriched core measuring from 750 m to 1,000 m which is surrounded by a greater than 400 m wide halo of anomalous silver, lead and zinc. Anomalous copper occurs in the southern portion of the core, and a relatively small area of anomalous molybdenum occurs near the core's northern margin. The target is located in the central part of the Hayes property 38 km east of the Casino deposit and is a geochemically zoned multielement soil anomaly associated with a mapped unit of Late Cretaceous Prospector Mountain suite intrusive rocks. Anomalous copper in soils occurs in the southern portion of the core, and a relatively small area of anomalous molybdenum occurs near the core's northern margin. Within the peripheral halo, silver-in-soil values range from one ppm Ag to as high as 16.9 ppm Ag, including 12.3 ppm Ag, 12.2 ppm Ag, 11 ppm Ag, 10.2 ppm Ag, 9.8 ppm Ag, while values greater than three ppm Ag are very common. Also, within this halo, lead-in-soil values occur as high as 3,310.4 ppb Pb including 957.5 ppm Pb, 832.8 ppb Pb, 748 ppm Pb, 689.1 ppb Pb, with associated zinc-in-soil values as high as 1,747 ppb Zn including 1,360 ppm Zn, 1,137 ppm Zn, 941 ppm Zn, 763 ppm Zn, 729 ppm Zn and 713 ppm Zn. A limited 2022 prospecting and mapping program included the collection of 19 rock grab samples returning values as high as 1,269.2 ppm Cu, 106.02 ppm Mo, 27.265 ppm Ag, 3,100.1 ppm Zn, 2,624.78 ppm Pb, 378.52 ppm Bi and two samples returning overlimit values for Li (greater than 2,000 ppm Li). The geochemical zonation seen in soils and supporting hyperspectral analysis of rock samples indicate that the anomaly may represent the surface expression of a copper molybdenum porphyry core surrounded by distal or epithermal style silver-lead-zinc mineralization.

In 2023 two deep-penetrating induced polarization-resistivity survey lines were completed over the Isaac target with a total of eight chargeability anomalies identified. The bismuth soil anomaly appears to be controlled by faults interpreted from the IP resistivity data. The bismuth and copper core of the soil anomaly is underlain by multiple chargeability anomalies which sit above a resistivity low that is interpreted as a fault structure. Lead, zinc and silver, which form a halo around the core, are coincident with fault structures on the south side and north side of the survey area which trend northeast (065 degrees) and northwest (290 degrees), respectively. Isaac is a recently recognized (2021) target and has never been drilled tested.

Toonie property

Soil sampling has defined a zoned anomaly that may be related to a buried intrusion. The distribution of values with an Au-Mo-Cu domain and more distal Zn-Pb and Ag may indicate a porphyry system.

Hyperspectral analysis and results

During 2023, crushed coarse rejects from 2022 prospecting rock samples from the Pedlar and Hayes properties were analyzed with an ASD TerraSpec 4 Hi-Res Mineral Spectrometer. Results were uploaded and processed using IMDEX's aiSIRIS cloud-based mineral interpretation AI (artificial intelligence) software to produce semi-quantitative, standardized mineral interpretations and analytics.

The Hyperspectral analysis results for the prospecting rock samples show alteration mineralogy consistent with a porphyry deposit model.

A total of 17 prospecting rock samples were collected at the Bridget target and 19 samples at the Isaac target. Samples from both the Bridget and Isaac targets show anomalous trace element enrichments, including copper, molybdenum and silver, consistent with proximal porphyry copper-style mineralization. Hyperspectral data for the Isaac target samples provide evidence for phyllic alteration characterized by muscovite and potassic alteration, with evidence of propylitic alteration found only on the southern edge of the sampled area where significant chlorite is observed. The Bridget samples show no evidence of phyllic alteration, however most samples show both geochemical and hyperspectral evidence for widespread propylitic alteration involving epidote, chlorite and albite, as well as minor potassic alteration.

Qualified person

Steven Walsh, PGeo and senior 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.

About White Gold Corp.

The company owns a portfolio of 15,362 quartz claims across 21 properties covering 305,102 hectares (3,051 square km) representing approximately 40 per 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 resource estimate of 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 g/t Au) (see the company's news release dated Oct. 6, 2025). 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 Fuerte Metals with measured and indicated resources of 80.0.2 Mt grading 1.15 g/t Au for 2.96 million ounces of gold, and inferred resources of 21.2 Mt grading 1.17 g/t Au for 0.80 million ounces gold, and Western Copper and Gold Corp.'s Casino project which has measured and indicated resources of 2,490.7 Mt grading 0.18 g/t Au, 0.14 per cent Cu for 14.8 million ounces of gold and 7.6 billion pounds of copper, and inferred resources of 1,412.5 Mt grading 0.14 g/t Au, 0.10 per cent Cu for 6.3 million ounces of gold and 3.1 billion pounds of copper.

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