White Gold Corp. Commences Maiden RAB Drill Program on Wolf and Toonie Properties, Yukon, Canada

TORONTO, July 20, 2023 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased to provide an update on regional components of the 2023 exploration program (Figure 1) which are designed to test several of White Gold’s most prospective, yet relatively untested soil geochemical targets which are sizeable enough geochemical footprints that, if successful, could be capable of hosting significant deposits. As part of this regional program, the Company designed a maiden Rotary Air Blast (RAB) drilling on the Wolf and Toonie properties to test large soil geochemistry anomalies on both properties, identified through the Company’s systematic exploration approach that has led to several other discoveries on its other properties. Maiden RAB drilling has commenced on the Wolf Property on the Taurus target, a large approximately 2 km long by 0.5 km wide, northeast-trending gold in soil anomaly, with maximum values of 358 ppb Au and multiple anomalous GT probe sampling results. On the Toonie Property, maiden RAB drilling is currently underway on the Deux target located in the northwestern region of the property and forms a 1.5 km by 0.5 km east-west trending multi-element (Au-As-Tl-Ag) soil anomaly, including maximum values of 156 ppb Au. This work forms part of the Company’s fully funded 2023 exploration program backed by strategic partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC). The Company’s land package represents over 40% of the emerging White Gold District in Yukon, Canada in which the Company has made several high grade gold discoveries such as Betty Ford, Ryan’s Surprise & Vertigo, and has significantly increased resources at the Company’s flagship White Gold Project which now comprises 16 million tonnes averaging 2.23 g/t Au for 1,152,900 ounces of gold in the Indicated Resource category and 19 million tonnes averaging 1.54 g/t Au for 942,400 ounces of gold in the Inferred Resource category⁽¹⁾ and remains open for expansion.

“Our regional RAB drilling program will test multiple early-stage targets for White Gold. The Wolf and Toonie properties represent prospective targets where we are excited to commence maiden RAB drilling to test large soil anomalies on both properties. This regional component of the 2023 exploration program is vital to our exploration strategy in ensuring we can continue to advance early-stage targets through our exploration pipeline and to demonstrate the expansiveness and prospectivity of near surface gold mineralization on our district scale land package located in a tier 1 jurisdiction,” stated David D’Onofrio, Chief Executive Officer.