| June 13, 2022 – Toronto, ON – White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the “Company”) is pleased to announce the commencement of its 2022 diamond drill program at the Ryan’s Surprise and Ulli’s Ridge targets on its White Gold property. These targets occur in the southern part of a 6.5 km long north-northwest gold-arsenic geochemical trend (the “Ryan’s Trend”) and are located approximately 2 km west (Figure 1) of the Company’s flagship Golden Saddle and Arc deposits which have a combined 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). The Company’s VG deposit, located approximately 11 km to the north, has an Inferred gold resource of 267,600 ounces at 1.62 g/t Au(2). This diamond drill program forms part of the Company’s 2022 fully funded $6 million exploration program on its extensive and underexplored 350,000 hectare 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 excited to kick off our eagerly anticipated 2022 exploration program with the commencement of diamond drilling at the Ryan’s Surprise and Ulli’s Ridge targets. In 2021, maiden diamond drilling at Ulli’s discovered a significant new high-grade gold zone that we are keen to follow up on. The Ryan’s Trend has demonstrated significant potential to increase the Company’s substantial resource base in the prolific and underexplored White Gold District. The initial phase will test the extensions of the high-grade mineralized zone encountered last year and additionally test the gap area between Ryan’s Surprise and Ulli’s Ridge Zones, with the goal of further expanding the large footprint of mineralization encountered to date. The diamond drill will then be moving to the Betty property to follow up on the 2021 high grade discovery (3.46 g/t Au over 50.0m in hole BETFD21D003) and to conduct maiden diamond drilling at other targets in close proximity. Additional detail on other components of the 2022 exploration program will be released in the coming weeks,” stated David D’Onofrio, Chief Executive Officer. Maps accompanying this news release can be found at https://whitegoldcorp.ca/investors/exploration-highlights/. Highlights of 2022 Exploration Program on the White Gold Property Include Approximately 2,700 m of diamond drilling is planned to further test 3 target areas (Figure 2):Area around the newly discovered high-grade gold zone at Ulli’s Ridge, with hole WHTULR21D004 returning 6.94 g/t Au over 19.5 m.Gap area between the Ryan’s Surprise and Ulli’s Ridge target to determine if they form part of the same mineralized zone (Figure 3).Infill drilling at Ryan’s Surprise to provide sufficient drill spacing to conduct a potential initial mineral resource estimate.Additional planned 2022 work on the property includes a focused prospecting program along the entire length of the 6.5 km long Ryan’s Trend, with rotary air blast (RAB) drilling of the highest priority targets scheduled in late season.A video replay providing a detailed overview of the 2022 exploration program can be found on the Company’s website at: https://whitegoldcorp.ca/media/videos/. The Company will be exhibiting at PDAC 2022 at booth #3333 in the Investors Exchange from June 13th to 15th from 10 a.m. to 5 p.m. ET. Conference attendees are encouraged to visit to learn more about the Company and ask any questions they may have. Additional details on upcoming diamond drilling on the Betty Property and other components of the 2022 exploration program will be released in the coming weeks The diamond drilling at Ryan’s Surprise and Ulli’s Ridge is expected to be carried out in 2 phases, with the initial phase targeting the high-grade gold zone at Ulli’s Ridge and the gap area between the Ryan’s Surprise and Ulli’s Ridge targets. The drill rig will then be moved south to the Company’s Betty property to complete the planned diamond drilling program at the Betty Ford and Mascot targets (see Company News Release dated May 18, 2022, available on SEDAR), before returning later in the season to complete the second phase of infill drilling at Ryan’s Surprise. Assay results for all drill programs will be released as they become available and interpreted by the Company. |
