Mr. David D'Onofrio reports

WHITE GOLD ANNOUNCES FILING OF MANAGEMENT INFORMATION CIRCULAR AND TECHNICAL REPORT FOR SPIN-OUT OF W2 CRITICAL MINERALS

White Gold Corp. has filed the management information circular and related meeting materials for the annual general and special meeting of White Gold shareholders to be held on Aug. 11, 2026.

The purpose of the meeting is to, among other things, consider and, if deemed advisable, pass a special resolution approving the previously announced spinout transaction whereby White Gold will spin out its portfolio of copper, molybdenum, tungsten and other critical mineral properties located in west-central Yukon into a wholly owned subsidiary, W2 Critical Minerals Corp. (Spinco), to the shareholders through a dividend-in-kind, all pursuant to a plan of arrangement under the Business Corporations Act (Ontario) and subject to the terms and conditions of the arrangement agreement between the company and Spinco dated May 5, 2026.

"We are very excited to be advancing the proposed W2 spinout designed to unlock the value of our prospective critical mineral projects by creating a dedicated publicly listed vehicle, with shares to be distributed to White Gold shareholders, as we continue to advance and execute on our stated milestones for 2026. With three drills now turning on our largest ever diamond drill program across our flagship White Gold project, which ranks among Canada's highest-grade undeveloped open-pit gold resources, designed to pursue continued resource growth and make more new discoveries, the upcoming maiden preliminary economic assessment, and more, we believe 2026 has the potential to be a transformational year for White Gold. And we look forward to providing further updates as we continue to advance on these milestones," stated David D'Onofrio, chief executive officer, White Gold.

Following completion of the spinout, the critical mineral assets to be held by Spinco will include six properties: the Bridget property, the Loonie property, the Wolf property, the Hunker property, the Hayes property and the Toonie property. These properties include several large-scale critical mineral targets prospective for copper, molybdenum, tungsten, antimony, zinc and bismuth. The spinout is designed to unlock the value of White Gold's non-gold project portfolio. For additional details on these projects, see the company's press release dated June 15, 2026.

The mailing of the meeting materials has commenced, and the meeting materials are also available under the company's issuer profile on SEDAR+. Shareholders are encouraged to vote on the matters before the meeting by proxy in the manner set out in the meeting materials.

Board recommendation

The board of directors of the company believes that the spinout is in the best interests of the company for reasons as described in the circular. The arrangement will provide shareholders with direct exposure to a portfolio of critical mineral exploration projects to be advanced by a dedicated team and resources, which portfolio is expected to benefit from a 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. The board unanimously recommends that shareholders vote for the arrangement resolution.

The spinout

Pursuant to the spinout, the company will, among other things, transfer its interests in the critical mineral assets to Spinco in exchange for common shares of Spinco and will distribute a dividend to the shareholders on the basis of one Spinco share for every five common shares of White Gold held by each shareholder immediately prior to the effective date of the spinout. There will be no change in the shareholders' holdings in the company as a result of the spinout. Following completion of the spinout, the company is expected to hold an approximately 19.9-per-cent ownership interest in Spinco.

Shareholders must hold their WGO shares until the effective date of the spinout to receive their pro rata portion of the Spinco shares being distributed through the dividend. Shareholders will be notified by the company of the record date and payment date through a news release once all of the conditions to closing of the spinout have been satisfied.

Completion of the spinout is subject to regulatory approval, including the approval of the TSX Venture Exchange and court approval, as well as approval by not fewer than two-thirds of the votes cast by shareholders at the meeting. Spinco intends to apply to list the Spinco shares on the TSX-V shortly following completion of the spinout. Readers are cautioned that completion of a listing is subject to regulatory approvals and the satisfaction of all of the applicable listing requirements of the TSX-V, and there can be no assurance that a listing will be completed.

Technical report

Concurrently with the filing of the meeting materials, the company also announces that it has filed an independent technical report prepared by Jean Pautler, PGeo, of JP Exploration Services Inc., in respect of the Bridget property, which is one of the properties in the critical mineral assets which will be considered material to Spinco for the purposes of National Instrument 43-101 (Standards of Disclosure for Mineral Projects) titled "NI 43-101 Technical Report on the Bridget Property in the Dawson Range Copper-Gold Belt, Casino Area, Yukon, Canada," with an effective date and report date of May 15, 2026. The technical report is available for review under the company's profile on SEDAR+.

The Bridget property

The Bridget property is a 15,500-hectare, 750-claim intrusion-related copper-molybdenum target located in the Dawson range copper-gold belt of west-central Yukon, approximately 25 kilometres northeast of Casino Mining Corp.'s Casino porphyry deposit. Historical and White Gold exploration since 2016 has delineated a robust northeast-trending 4.3-kilometre-by-1.4-kilometre molybdenum soil anomaly (mostly greater than or equal to 20 parts per million molybdenum), including a 2.0-kilometre-by-0.75-kilometre copper anomaly (mostly greater than or equal to 150 ppm Cu) at its southwestern end, with peak values of 710.1 ppm Cu and 321.9 ppm Mo. The target displays classic porphyry-style alteration (potassic, phyllic and magnetite-silica) and mineralization associated with quartzplus or minusfeldspar porphyry interpreted to belong to the same late Cretaceous Casino suite that hosts the nearby Casino deposit, one of the world's largest copper-gold porphyry systems.

A 2018 rotary air blast drill program (548.6 metres in 10 holes) intersected broad zones of elevated molybdenum and copper, returning up to 632 ppm Mo and 1,054 ppm Cu and confirming the presence of a significant mineralized system. However, this program was constrained to shallow depths, averaging only 55 m and reaching a maximum depth of 83.8 m. Subsequent 2023 and 2025 induced polarization surveys have since identified priority chargeability anomalies at target depths ranging from approximately 130 m to 330 m below surface, situated both beneath and peripheral to the historical RAB drilling. Additional diamond drilling is recommended to adequately test the previously identified induced polarization targets.

Other matters

The company engaged Equity Catalyst Partners for a term of six months to provide marketing services designed to enhance White Gold's investor visibility and awareness. Equity Catalyst Partners is at arm's length to White Gold, and, to the company's knowledge, neither Equity Catalyst Partners nor its principals have any present interest, directly or indirectly, in White Gold's securities, nor any right or intent to acquire such an interest.

Qualified person

Dylan Langille, PGeo and vice-president of exploration 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 15,364 quartz claims across 21 properties covering 305,102 hectares (3,051 square kilometres) 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 grams per tonne 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 Talamore Mining (formerly Fuerte Metals) with measured and indicated resources of 80.2 million tonnes 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 800,000 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 and 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.

We seek Safe Harbor.