White Gold Corp. Commences Maiden Diamond Drilling at Cali Target on Nolan Property, Yukon, Canada - Seite 2

The Cali target is located in the northern part of the Nolan property which covers a large area measuring approximately 30 km north-south by up to 22 km east-west. The property is accessible from the Top of the World Highway which extends westwards from Dawson City to Alaska, and local placer mining roads and trails. The Cali target forms a large 2 km long x 250 m wide northeast-trending multi-element (Au-As-Sb-Bi-Cu-Pb-Zn) soil anomaly, including maximum values of 515 ppb Au, 1436 ppm As, 2184 ppm Cu, 1225 ppm Pb and 2670 ppm Zn. The strongest base metal values appear to occur in sub-zones within the larger anomaly, which remains open along strike particularly to the southwest. The soil anomaly is located over footwall orthogneisses on the south side of the Sixtymile-Pika Fault, and mineralization does not appear to extend into the hanging wall metaquartzites. In 2017 the Company drilled 22 short (< 100 m) RAB holes on the Cali target, with several holes intersecting anomalous gold, silver and copper mineralization which warranted follow up exploration.

The planned maiden 2023 diamond drilling program on the Cali target comprises 3 holes totalling approximately 900 m. Each planned hole is 300 m in length and will drill at a dip of -50° to the northwest (320° azimuth), testing approximately 1 km of its 2 km strike length.

Nolan Property

The Nolan property is comprised of 2,219 claims across 43,778 hectares covering a large area measuring 30 km north-south by up to 22 km east-west. The northern portion of the property north of the Sixty Mile River is accessible from the Top of the World Highway which extends westwards from Dawson City to Alaska, and local placer mining roads and trails. The property hosts several identified gold exploration targets including the Cali, Nine, Nine Southeast, Boucher and Mount Hart targets.

The Nolan property is underlain primarily by Late Devonian to Early Carboniferous (Mississippian) rocks of the Simpson Range and Finlayson Assemblage. The Simpson Range comprises meta-intrusive (diorite, granodiorite and tonalite) orthogneisses and is most widespread in the eastern and central areas of the property. The northern and western portions of the property are underlain by the Finlayson Assemblage. In the north, Finlayson rocks consist of dark grey to black carbonaceous metasedimentary rocks including metaquartzite, and in the central- to southwestern part of the property the Finlayson comprises intermediate to mafic volcanic and volcaniclastic rocks. These units are overlain by younger Late Cretaceous volcanic rocks of the Carmacks Group, which comprises basalt, breccia, andesite, porphyry, dacite and trachyte. On the Nolan property, the Carmacks Group is restricted to the Mount Hart area in the south, where a conglomerate unit forms its base. More extensive areas of the Carmacks Group occur immediately west of the property, as well as to the east and southeast. Late Cretaceous intrusive rocks of the Prospector Mountain Suite, comprising granite, granodiorite, diorite and monzonite, form a series of east-west trending plutons extending westwards from Mount Hart.