Mr. David D'Onofrio reports

WHITE GOLD CORP. INTERSECTS SIGNIFICANT ADDITIONAL GOLD MINERALIZATION INCLUDING 10.36 G/T AU OVER 3.25M AND 1.66 G/T AU OVER 25.5M FURTHER EXPANDING MINERALIZATION AT THE RYAN'S SURPRISE AND ULLI'S RIDGE TARGETS ON ITS FLAGSHIP WHITE GOLD

White Gold Corp. has released assay results for its recently completed diamond drilling program on the Ryan's Surprise target and northernmost part of the Ulli's Ridge target located approximately two kilometres west of its flagship Golden Saddle and Arc deposits and 11 km south of the company's VG deposit. The Golden Saddle and Arc deposits have a combined mineral resource of 1,139,900 ounces indicated at 2.28 grams per tonne gold and 402,100 ounces inferred at 1.39 g/t Au and the VG deposit hosts a historic inferred gold resource of 230,000 ounces at 1.65g/t Au. The drilling forms part of the company's fully financed 2021 exploration program backed by partners Agnico Eagle Mines Ltd. and Kinross Gold Corp. on its extensive 420,000-hectare land package in the emerging White Gold district, Yukon.

The Ryan's Surprise and Ulli's Ridge targets are situated on a 6.5 km long by one km wide, north-south trend of anomalous gold and arsenic in soils, which extends from the Ulli's Ridge target in the south to the Teacher's showing in the north. The Ryan's Surprise target has been a focus of diamond drilling over the past two field seasons, and this year's drilling has expanded southward to the Ulli's Ridge target. The goal of these drill programs is to identify new zones of gold mineralization with the potential to increase the project's overall gold resource base.

Highlights include:

• Drilling at Ryan's Surprise has now encountered gold mineralization over an area measuring approximately 400 m east-west by 400 m north-south, and to a vertical depth of 450 m and remains open along strike to the west and down dip;
• 2021 drilling tested mineralized zones an additional 150 m along strike to the west and 100 m down dip;
• All holes intersected gold mineralization with significant mineralization including:
  • WHTRS21D026: 10.36 g/t over 3.25 m, 2.07 g/t Au over 3.40 m and 2.09 g/t Au over 5.05 m;
  • WHTRS21D020: 3.66 g/t Au over six m and 1.66 g/t Au over 25.50 m;
  • WHTRS21D019: 1.88 g/t Au over 15 m and 1.57 g/t Au over 4.90 m;
  • WHTRS21D021: 1.84 g/t Au over 6.50 m, 3.35 g/t Au over 6.05 m, 1.38 g/t Au over 7.78 m and 2.14 g/t Au over 5.85 m;
  • WHTRS21D024: 0.48 g/t Au over 43.75 m;
  • WHTRS21D023: 2.58 g/t Au over 6.65 m;
• Gold mineralization is structurally controlled and has been preliminarily interpreted as multiple mineralized structures which display two dominant orientations -- steeply southwest dipping and moderately southeast dipping, with the intersection of the two representing a possible fault, and remains along strike and down dip;
• A video overview from management discussing these results and preliminary interpretations can be found on YouTube;
• Results from diamond drilling on the Betty and Ulli's Ridge Targets and other exploration activities will be forthcoming in due course.

"We are very pleased to have encountered additional zones of significant gold mineralization and further expand the large footprint of mineralization at the Ryan's Surprise, which remains open in multiple directions. These results continue to demonstrate the expansiveness of gold mineralization in the White Gold district and the potential for continuing to increase our already significant defined resource base. The continued exploration success increases our optimism for the prospectively of our district-scale land package and we are looking forward to the results from the other high-priority targets tested this year," stated David D'Onofrio, chief executive officer.

2021 diamond drilling program

The 2021 diamond drilling program comprised eight holes totalling 2,651 m with hole lengths ranging from 197 to 452 m, and was designed primarily to: 1) test the western strike and down-dip extensions of high-grade gold mineralization encountered in 2020 Ryan's Surprise drilling (such as, 10.96 g/t Au over 3.76 m in WHTRS20D017 and 8.69 g/t Au over 12.30 m in WHTRS20D018); and 2) test for near-surface mineralization at the northernmost part of the Ulli's Ridge target where 2020 GT probe sampling identified a zone with six samples (25 m wide) averaging 2.119 g/t Au, including a maximum value of 8.516 g/t Au.

All holes except for WHTRS21D025 were drilled to the north-northeast (20 to 25 degrees) at dips of negative-50 degrees to negative-55 degrees. Hole WHTRS21D025 was drilled to the south-southwest (200 degrees) at a dip of negative-65 degrees to test an alternate dip interpretation.

Results and interpretation

Hole WHTRS21D019 was drilled to test the interpreted down-dip extension of high-grade mineralization encountered in 2020 drilling by approximately 65 m. Unfortunately, the hole deviated significantly to the east such that the pierce point of the targeted mineralized zone was 50 m farther east than originally planned. The hole intersected two separate mineralized zones, an upper zone grading 1.57 g/t Au over 4.90 m from 177.15 m (down hole), and a lower zone which returned 1.88 g/t Au over 15 m from 370 m.

Three holes, WHTRS21D020, 021 and 022, were drilled on the same cross-section located 100 m west of hole 019. The northernmost of the three holes, WHTRS21D020, intersected two primary mineralized zones, an upper zone that returned 3.66 g/t Au over six m from 78 m and a broad lower zone which returned 1.66 g/t Au over 25.50 m from 224.50 m. WHTRS21D021 also intersected multiple mineralized zones including 1.84 g/t Au over 6.50 m from 68.50 m, 3.35 g/t Au over 6.05 m from 220.95 m, 1.38 g/t Au over 7.78 m from 250.22 m and 2.14 g/t Au over 5.85 m from 397.15 m. WHTRS21D022, the southernmost hole on the cross-section, was drilled to test for near-surface mineralization at the northmost part of the Ulli's Ridge target. The hole returned narrower zones of mineralization including 0.73 g/t Au over two m from 10 m down hole and 1.97 g/t Au over 0.50 m from 191 m.

Three holes, WHTRS21D024, 025 and 026, were drilled on a cross-section located approximately 65 m farther west. The northernmost of the holes, WHTRS21D024, was drilled to test directly beneath the strong GT probe anomaly identified in 2020 sampling (six samples averaging 2.119 g/t Au). The hole did not return any significant gold values in the upper part of the hole, but did intersect multiple zones of gold (0.8 to three g/t) over widths of one to five m. WHTRS21D025 was drilled to the south-southwest (200 degrees) at a dip of negative-65 degrees to test an alternate dip interpretation, but intersected multiple zones of mineralization including 3.36 g/t Au over 1.20 m from 25.50 m and 2.51 g/t Au 1.50 m 166 m. The southernmost hole on the cross-section, WHTRS21D026, again intersected multiple zones of gold mineralization including 4.83 g/t Au over two m from 85 m, 10.36 g/t Au over 3.25 m from 186.75 m, 2.07 g/t Au over 3.40 g/t Au from 325.10 m and 2.09 g/t Au over 5.05 m from 37 m.

Hole WHTRS21D023 was drilled 300 m north of hole WHTRS21D024 to test for a possible western-strike extension of hangingwall mineralization that was encountered in Kinross's hole WGRS11D00003 which returned two separate zones grading 6.34 g/t Au over 6.56 m from 159.44 m and 3.88 g/t Au over three m from 185 m. WHTRS21D023 intersected a zone grading 2.58 g/t Au over 6.65 m from 91.35 m, indicating that the mineralization extends a minimum of 100 m farther west along strike and remains open.

Ryan's Surprise target

Gold mineralization was initially discovered at Ryan's Surprise by Kinross in 2011 with diamond drill hole WGRS11D0003 returning 6.34 g/t Au over 6.56 m and 3.88 g/t Au over three m. Subsequent drilling by the company in 2018 through 2020 continued to encounter gold mineralization in multiple zones which remain open along strike and down dip. Diamond drilling in 2020 returned several high-grade gold intercepts including 17.4 g/t Au over 3.47 m in hole WHTRS20D013, 10.96 g/t Au over 3.76 m in hole WHTRS20D017 and 8.69 g/t Au over 12.3 m in hole WHTRS20D018 (see company news release dated Oct. 14, 2020). The geology of the Ryan's Surprise area consists of two primary lithological packages, an upper hangingwall mafic to ultramafic package comprising amphibolite and pyroxenite, and an underlying metasedimentary sequence of metaquartzite, biotite-quartz-feldspar gneiss and minor biotite schist. The contact between the two packages strikes northwest, is relatively flat-lying and appears to be a possible thrust fault. At Ryan's Surprise gold mineralization is structurally controlled by brittle breccia and fracture zones with minor late quartz veining predominantly in the metaquartzites. The northeastern region of Ryan's Surprise which was the primary target of drilling in previous seasons appears to contain multiple steeply southwest-dipping gold zones with grades up to 20.67 g/t over 6.10 m. To the southwest, results of the 2021 drilling suggest the mineralization occurs within more moderately southeast-dipping structures with grades up to 10.36 g/t over 3.25 m. The intersection between these two zone orientations appears to define the Ulli's Central fault which is interpreted to bisect the target area. Three-dimensional geological modelling of the mineralization along with the surface soil geochemistry suggests the Ryan's Surprise zone remains open to the northwest, southeast and further at depth.

Ulli s Ridge target

The Ulli s Ridge target area is located immediately south of Ryan's Surprise and is characterized by a large northwest-southeast-trending coincident gold and arsenic soil anomaly measuring some 1,500 m long by 600 m wide with gold values up to 1,585 parts per billion Au and arsenic values up to 2,484 parts per million As. Trenching and drilling at Ulli s Ridge prior to 2021 had encountered significant gold mineralization including 1.38 g/t Au over 20 m in trench WGUR12TR01, 2.58 g/t Au over 3.05 m and 6.27 g/t Au over 1.52 m in hole WHTULR17RC-001, 9.70 g/t Au over 1.52 m in hole WHTULR17RC-002 and 1.40 g/t Au over 7.62 m in hole WHTULR19RAB-001. As reported in the company s new release dated Nov. 1, 2021, rotary air blast (RAB) drilling at Ulli's Ridge this season intersected significant gold mineralization over a 500 m strike length including 4.67 g/t Au over 6.10 m in hole WHTULR21RAB006, 1.35 g/t Au over 21.33 m in WHTULR21RAB005, and 4.43 g/t Au over 1.52 m, 1.53 g/t Au over 4.57 m and 2.26 g/t Au over 9.14 m in WHTULR21RAB009. These encouraging RAB drilling results were followed up with diamond drilling late in the season and assay results will be released once received.

Quality assurance/quality control

Analytical work for the 2021 diamond drilling program was performed by ALS Canada Ltd., an internationally recognized analytical services provider, at its North Vancouver, B.C., laboratory. Sample preparation was carried out at its Whitehorse, Yukon, facility. All diamond drill core samples were prepared using procedure PREP-31H (crush 70 per cent less than two millimetres, riffle split off 500 grams, pulverize split to better than 85 per cent passing 75 microns) and analyzed by method Au-AA23 (30-gram fire assay with atomic absorption spectroscopy finish) and ME-ICP41 (0.5 g, aqua regia digestion and inductively coupled plasma atomic emission spectroscopy analysis). Samples containing greater than 10 g/t Au were reanalyzed using method Au-GRAV21 (30g fire assay with gravimetric finish).

The reported work was completed using industry standard procedures, including a quality assurance/quality control (QA/QC) program consisting of the insertion of certified standards, blanks and duplicates into the sample stream.

About White Gold Corp.

The company owns a portfolio of 21,111 quartz claims across 31 properties covering over 420,000 hectares representing over 40 per cent of Yukon's emerging White Gold district. The company's flagship White Gold property hosts the company's Golden Saddle and Arc deposits which have a mineral resource of 1,139,900 ounces indicated at 2.28 g/t Au and 402,100 ounces inferred at 1.39 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The company's recently acquired VG deposit also hosts a historic inferred gold resource of 230,000 ounces at 1.65 g/t Au. 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 2.17 million ounces at 1.46 g/t Au, and inferred resources of 500,000 oz at 1.32 g/t Au, and Western Copper and Gold Corp.'s Casino project which has measured and indicated resources of 14.5 million oz Au and 7.6 billion pounds Cu and inferred resources of 6.6 million oz Au and 3.3 billion lb Cu.

Qualified person

Terry Brace, 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.

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