White Gold Corp. Discovers 1 km Long Gold-In-Soil Anomaly 9 km Northwest of Its VG Deposit, White Gold District, Yukon, Canada

TORONTO, Feb. 22, 2024 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the “Company”) is pleased to announce that a soil sampling survey completed during the 2023 field season has identified a new 1 km long gold-in-soil anomaly on the QV property, located approximately 9 km northwest of the VG deposit which remains open for expansion (Figures 1 & 2). Soil sampling results range from trace up to a maximum of 496.7 ppb Au with associated anomalous tellurium. The new soil geochemical anomaly appears to be similar in character to the VG deposit and the Golden Saddle deposit which form part of the Company’s flagship White Gold Project. The White Gold Project is located in west-central Yukon, Canada, and 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⁾. These results form part of the Company’s 2023 exploration program on its extensive and underexplored land package in the emerging White Gold District, Yukon, supported by strategic partners including Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).

“We are very pleased with the successful soil survey program which has identified a large new target on the QV property in close proximity to our existing deposit. The strike length, continuity, and similarities of the soil anomaly relative to the surface geochemical signatures of our Golden Saddle and VG deposits represents an exciting new target. Our data driven exploration methodology which has now led to multiple significant gold discoveries in the district, continues to demonstrate the prospectivity of our underexplored district scale exploration portfolio in the Yukon where we are still just scratching the surface, and the expansiveness of gold mineralization in this tier 1 mining district,” stated David D’Onofrio, Chief Executive Officer.

Maps and images accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

Highlights

• 2023 soil sampling survey on the QV property focused on two grids located east and west of Chris Creek (East and West grid) and approximately 9 km northwest of the VG deposit, which hosts an open pittable Inferred resource of 287,100 oz gold at 1.53 g/t⁽¹⁾ and remains open along strike and at depth.
• The soil sampling program consisted of approximately 200 samples collected at 50 m sample spacings on 100 m-spaced survey lines.
• Gold values range from < 0.5 ppb Au to a maximum of 496.7 ppb Au, with 10 samples on the East Grid returning greater than 50 ppb Au in the range of 51.1 to 327 ppb Au.
• The gold anomaly is associated with anomalous tellurium and low arsenic in soils, which represents a surface geochemical signature similar to the VG and Golden Saddle deposits.
• The newly identified east-west trending soil anomaly on the East Grid measures approximately 1 km in length and is open along strike to the east and west beyond the limits of current soil sampling.
• Magnetic data indicates that the newly identified gold soil anomalies occur in a NNW-SSE trending mafic belt.
• Infill and extension soil sampling, GT-probe bedrock sampling, and ground magnetics and VLF-EM geophysical surveys are recommended to further advance this new target to drill-ready status in 2024.