| May 6, 2021 – White Gold Corp. (TSX.V: WGO, OTC: WHGOF, FRA: 29W) (the “Company”) is pleased to announce significant soil geochemistry results from the Company’s 2020 exploration program outlining significant gold anomalies on its Nolan property, located approximately 50km west of Dawson City, Yukon and 15km east of the Alaska border. The Nolan is a large property comprised of 2,219 claims across 43,778 hectares in the active Sixtymile placer gold camp on which several kilometre scale gold anomalies have now been identified. 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 Corporation (TSX: K, NYSE: KGC) on its extensive 420,000 hectare land package in the prolific White Gold District, Yukon, Canada. Highlights Include: The Nolan property is located in the active Sixtymile placer gold camp of west Yukon, which has produced over 500,000 ounces of placer gold to date.The property hosts multiple large targets with the potential for several mineral deposit types including orogenic gold, epithermal precious and base metal veins and porphyry Cu-Mo-Au.2020 Exploration work included ground magnetics, VLF-EM surveys and 1,648 infill soil geochemistry samples in the Mount Hart area, with values of up to 1120 ppb Au, which has further enhanced several multi-element anomalies within a large (5km N-S x 3.5km E-W) anomalous area that will be further evaluated this coming season.The Company also announces its participation in several upcoming virtual conferences and invites interested parties to register to learn more about the Company’s unique district-scale gold exploration opportunity with significant defined resources, recent discoveries and new discovery potential in the prolific White Gold District, Yukon, Canada “We are very pleased with the delineation of these targets in this area of significant placer mineralization. It is further evidence of the expansiveness of gold mineralization in the White Gold District, and the effectiveness of our exploration methodologies. The exploration methodologies and results to date are encouraging based on the similarities to those that have led to the discovery of significant deposits within the White Gold District. We are excited to advance these targets with additional testing and first ever diamond drilling in the coming months” commented David D’Onofrio, CEO of the Company. Figures accompanying this news release can be found at: http://whitegoldcorp.ca/investors/exploration-highlights/ Nolan Property The Nolan property covers a large area measuring 30km north-south by up to 22 km east-west (Figure 1). 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. Access to the central and southern areas of the property is accessible by helicopter. The property hosts several defined gold exploration targets including the Cali, Nine, Nine Southeast, Boucher and Mount Hart targets. |
| Property Geology The Nolan property is underlain primarily by Late Devonian to Early Carboniferous (Mississippian) rocks of the Simpson Range and Finlayson Assemblage (Figure 2). 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. |
| The most prominent fault structure recognized on the Nolan property is an interpreted extension or splay of the Sixtymile-Pika Fault, a regional 150km long northeast trending strike-slip sinistral-normal fault that extends westward into Alaska. The Sixtymile-Pika Fault is an important structure, having controlled Late Cretaceous porphyry, skarn and epithermal style mineralization. The Cali target located in the north-central part of the property lies directly on or adjacent to the Sixtymile-Pika Fault, as do several other gold occurrences (e.g. Glasmacher and Per) located west of the property. 2020 Exploration Program The 2020 exploration program included ground magnetics and VLF-EM surveys totaling 247 line km on three separate grids (Mount Hart = 190km, Boucher Main = 25km, and Boucher SW = 32km), and infill soil geochemistry sampling at 25m spacings on 100m spaced survey lines in the Mount Hart area. At total of 1,648 infill soil samples were collected in the Mount Hart area, where previous soil sampling had been at 50m sample spacings on 100m spaced survey lines. The area of infill sampling covered an area measuring 4.8km north–south and from 0.9km to 3.7km east-west, with the longer survey lines located in the south. A general summary of the soil sampling results at Mount Hart is provided below, as well as brief descriptions of the Cali and Boucher targets. Mount Hart Target Extensive soil sampling has outlined a large multi-element soil geochemistry anomaly in the Mount Hart area measuring 5km north-south and up to 3.5km east-west with values of up to 1120 ppb Au, 14.8 ppm Ag, 1543 ppm As, 81 ppm Sb, 42.2 ppm Bi and 1677 ppm Pb. The relationship between the distribution of individual elements is currently being assessed in the context of underlying geology, including lithologies and structures, and geophysics. Several areas are anomalous in gold only (Figure 3), while elsewhere there are strongly coincident Ag, As, Sb, Bi and Pb anomalies (Figures 4A-7B). Anomalous Cu and Mo in the Mount Hart area, combined with observed porphyry-style hydrothermal alteration, indicate the potential for buried porphyry Cu-Mo-Au mineralization. The majority of anomalous soil samples are underlain by rocks of the Late Cretaceous Carmacks Group and coeval intrusions of the Late Cretaceous Prospector Mountain Suite which underly the west-central portion of the Mount Hart soil grid, suggesting a link to a Late Cretaceous mineralizing event. |
| Cali Target The Cali target forms a large 250m x 2.5km long 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 (< 100m) RAB holes on the Cali target, with several holes intersecting anomalous gold, silver and copper warranting follow up exploration. Boucher Target In the northeastern portion of the Boucher target soil grid, there is a somewhat annular Cu-Mo-Au-Bi anomaly with values up to 2171 ppm Cu, 44 ppm Mo, 165 ppb Au and 39 ppm Bi. The area of anomalous copper values measures approximately 900m north-south x 700m east-west. The underlying geology of the Boucher area is not well known due to a lack of outcrop, however the metal association is indicative of a porphyry Cu-Mo-Au mineralizing system. The area has been mapped by the Yukon Geological Survey as being underlain by orthogneisses of the Simpson Range Suite. Exploration Plans for 2021 Planned exploration work for the 2021 season includes geological mapping and prospecting, fixed-wing airborne LiDAR surveys, detailed structural and geochemical interpretations, GT Probe soil-bedrock interface sampling, induced polarization and resistivity surveys, and first-ever diamond drilling on the Cali target. Additional details on the program will be provided in due course. |
| Upcoming Virtual Conferences The Company is pleased to announce participation in the following upcoming virtual conferences, where interested parties can learn more about the Company’s unique district-scale gold exploration opportunity with significant defined resources, recent discoveries and new discovery potential in the prolific White Gold District, Yukon, Canada. Registration and event details can be found below: Mines & Money EMEA Online Roadshow Registration: https://minesandmoney.com/online/roadshow.php Date: May 13, 2021 Time: 8am to 8pm GMT Mines & Money North American Online Roadshow Registration: https://minesandmoney.com/online/roadshow.php Date: May 18, 2021 Time: 8am to 8pm EST 121 Mining EMEA Investment Online Registration: https://www.weare121.com/121mininginvestment-london/ Date: May 25-27th Time: 7am to 7pm GMT Mines & Money 5@5 London Registration: https://minesandmoney.com/5-at-5/register.php Date: May 27, 2021 Time: 5pm to 6pm GMT Very Independent Research Metals Conference 2021 Registration: https://attendee.gotowebinar.com/register/5185425892218867469 Date: June 15, 2021 Time: 12:15pm EST 121 Mining APAC Investment Online Registration: https://www.weare121.com/121mininginvestment-hk/ Date: June 15-18th Time: 6pm to 8pm HKT |
| QA/QC Analytical work for the 2020 soil sampling program on the Nolan property was performed by Bureau Veritas Canada Ltd., an internationally recognized analytical services provider, at its Vancouver, British Columbia laboratory. Sample preparation was completed at its Whitehorse, Yukon facility, using procedure SS80 (dry at 60° C and sieve 100g to -80 mesh). The analytical procedure used was AQ-201 (15g, aqua regia digestion and ICP-ES/MS analysis). |
| 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% of the Yukon’s prolific 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(1). 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(2). 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 Corporation with Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au(3), and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 14.5 Moz Au and 7.6 Blb Cu and Inferred Resources of 6.6 Moz Au and 3.3 Blb Cu(4). For more information visit www.whitegoldcorp.ca. |
