White Gold Corp. Outlines Significant Gold in Soil Anomalies and Completes Structural Geological Interpretation at the Bonanza Property, Yukon

TORONTO, March 25, 2021 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTC: WHGOF, FRA: 29W) (the “Company”) is pleased to announce significant soil geochemistry results from 2020 sampling and completion of a new structural geological interpretation at its Bonanza property, which is located approximately 10 km south of Dawson City, Yukon. This work formed part of the Company’s 2020 exploration program backed by strategic partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp. (TSX: K, NYSE: KGC) on its extensive 420,000 hectare land package in the prolific White Gold District, Yukon, Canada.

Highlights Include:

• The Bonanza property is situated in close proximity to the richest placer mining sites in the Yukon with over 5 Moz of gold produced to date.
• Infill soil geochemistry sampling has outlined multiple property-scale linear WNW- to NW-trending gold in soil anomalies.
• A new structural geological interpretation based on airborne magnetics and electromagnetics (EM), and high-resolution drone LiDAR data, has significantly improved the understanding of structural controls on gold mineralization.
• The combined strike length of the multiple gold in soil anomalies and interpreted controlling structures is more than 6km kilometers and remains untested by trenching and/or drilling.
• These results will be combined with historic data over the coming months to define targets for drilling later in the year.
• A video overview from management discussing the Bonanza property, 2020 results and future plans can be found at: https://www.youtube.com/watch?v=XViwbru0AoY

Shawn Ryan, Chief Technical Advisor of the Company commented, “In 2004 when I first staked the Bonanza property, I was struck by the lack of exploration in an area that had been the epicentre for the Klondike Gold Rush and had produced so much placer gold”. “Back then I was intrigued by the new GSC airborne magnetic survey maps indicating a distinct north-south trending magnetic lineament that I felt could represent an important mineralizing structure. Since then, we have carried out intermittent exploration on the property but only this past year with a larger soil sampling program, adding 3,645 samples to the database, combined with magnetics and LiDAR have we been able to clearly see property-scale linear trending gold anomalies correlating perfectly with Matias Sanchez’s structural interpretation of the property. His interpretation work clearly indicates a fault system, which just so happens to be anomalous in gold and all ironically trending towards Bonanza Creek. I always felt with so much placer gold in Bonanza Creek, there could be a few potential sources. With Klondike Gold Corp.’s Lone Star zone to the south representing one potential source, we may be looking at another. This year we’ll continue to refine our interpretation and advance targets to the drill-ready stage for testing.”