Maiden PEA outlines a 9.4 year, 12,000 tonne per day open pit operation producing an average of 188,000 ounces of gold per year (223,000 ounces per year over the first five years) at a US$3,600/oz gold price

After-Tax NPV increases to C$3 Billion and 52% IRR at US$4,500/oz gold price

White Gold Corp. (TSX-V: WGO) (OTCQX: WHGOF) (FSE: 29W) is pleased to announce the results of an independent Preliminary Economic Assessment for its flagship White Gold Project, located in the traditional territory of the Tr’ondëk Hwëch’in in the Yukon Territory, Canada. The PEA outlines a technically straightforward open pit mining operation with the potential for positive economics at a consensus long-term gold price and establishes the development framework for a district that remains largely untested beyond the deposits included in this study. Further to the positive PEA economics, the Company has identified numerous additional opportunities with the potential to extend mine life, increase annual production, and further increase project economics in subsequent studies including potential resource conversion and growth at the existing deposits with prior, ongoing and future drilling, the underground mining potential at Golden Saddle, and a prospective exploration pipeline in the immediate vicinity of the White Gold Project consisting of more than 25 identified targets discovered through the Company’s systematic, data-driven exploration methodology.

PEA Highlights

All amounts in Canadian dollars unless otherwise noted. Base case gold price of US$3,600/oz (flat) and an exchange rate of US$0.72 = $1.00.

• Positive Base Case Economics: After-tax net present value at five percent discount rate (5%) of $1,911 million and after-tax internal rate of return of 38% with a payback period of 1.7 years, at US$3,600/oz gold. Pre-tax NPV(5%) of $3,081 million and pre-tax IRR of 54%.
• Strong Cash Generation: Life of mine after-tax free cash flow of $2,685 million, averaging approximately $280 million per year.
• Significant Leverage to Gold Price: At US$4,500/oz, after-tax NPV(5%) increases to $2,996 million with an IRR of 52% (See Table 2).
• Meaningful Production Scale: Average annual gold production of 188,000 ounces over a nine year mine life, averaging 223,000 ounces per year over the first five years, from a conventional open pit operation and 12,000 tonne per day mill.
• Efficient cost structure: Life of mine cash costs of US$1,290/oz and all-in sustaining costs of US$1,480/oz.
• Established Road-Accessible Project: The White Gold Project is located in a region with a long history of placer mining, approximately 95 km south from Dawson City. The Project proposes to tie into the planned Northern Access Route (NAR) from Dawson City to neighbouring properties. The award of the construction contract (by others) for the NAR was announced earlier this year with mobilization underway. The Project will be accessed by an all-weather gravel road, which crosses the Stewart River by barge in summer and ice road in winter.
• Favourable Jurisdiction: The Project is located within the Traditional Territory of the Tr’ondëk Hwëch’in in Canada’s Yukon Territory, a stable mining jurisdiction with a well-defined regulatory process, government support for responsible resource development, and consistently strong rankings in global mining investment surveys.
• First Phase of a District-Scale Opportunity: The PEA mine plan incorporates four deposits (Golden Saddle, Arc, Ryan’s Surprise and VG) and only draws on approximately 60% of the Company’s current mineral resource estimate completed in August 19^th, 2025 of 1,732,300 ounces Indicated (35.2 Mt at 1.53 g/t gold) and 1,265,900 ounces Inferred (32.3 Mt at 1.22 g/t gold). Drill results from 2025 and current drilling are not included in the resource, and all four deposits are still open for expansion. The Project covers approximately 55,000 hectares with more than 25 additional targets identified across the property, the majority of which have seen limited or no drilling.

“Our Maiden PEA is a significant milestone for White Gold, delivering a project with strong economics and significant growth potential. Few gold projects anywhere offer this combination of scale, potential returns, favourable jurisdiction and upside. I would like to thank and congratulate our team and all stakeholders who have supported us over the years in advancing The White Gold Project from a conceptual exploration idea towards a development asset with a PEA that compares very well to its peers in the sector. Even more exciting is the growth potential of the White Gold Project based on previous and ongoing drilling not included in the PEA, future drilling and the substantial potential of our underexplored truly district scale land package within the White Gold District, which has seen significant recent investment by prominent mine builders further advancing it towards becoming a leading Canadian mining camp. We are very fortunate to have the right projects, in the right place, at the right time, with a great team and supporters to continue to responsibly build value for all stakeholders,” stated David D’Onofrio, Chief Executive Officer, White Gold Corp.

“This is a strong technical foundation, built on deliberately conservative assumptions. The PEA open pit mine plan draws on less than two thirds of our current resource ounces and applies preliminary recovery assumptions. A 9.4 year operation producing an average of 188,000 ounces annually is a compelling initial configuration for a district where mineralization remains open and most of our targets remain undrilled. Underground mining was not included in this maiden PEA but remains a separate opportunity that will be examined as deeper drilling advances the higher-grade resource at Golden Saddle. The PEA results demonstrate a potentially economic project on a resource estimate dated August 19, 2025, which includes drilling information up to November 1st, 2025. Additional gold ounces would add to the already very positive potential economics of the project. The work ahead of us, including expansion drilling on known zones, greenfield target drilling, metallurgical optimization, updated resource estimation and the next stage of economic study, is precisely the kind of work that increases value per share over time,” stated Donovan Pollitt, P.Eng., CFA, President, White Gold Corp.

The PEA was prepared in accordance with the disclosure standards of National Instrument 43-101. The reader is cautioned that the PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Figure 1: White Gold Project location and Quartz Claims Map

PEA Summary

The PEA was prepared by JDS Energy & Mining Inc. (“JDS”) with contributions from Arseneau Consulting Services Inc. (“Arseneau”) and Knight Piésold Ltd. (“KP”), in accordance with NI 43-101.

Table 1: PEA Summary of Key Parameters and Economics

Note: Totals may not sum due to rounding.

Gold Price Sensitivity

Potential project economics across a range of gold prices are presented in Table 2. The base case of US$3,600/oz is consistent with long-term consensus pricing.

Table 2: Gold Price Sensitivity Analysis ⁽¹⁾

(1) The disclosure of the results of the PEA presented in this news release contain certain prospective non‐GAAP financial measures or ratios such as cash operating cost, all in sustaining costs and sustaining costs. Such measures have no standardized meaning under International Financial Reporting Standards (“IFRS”) and may not be comparable to similar measures used by other issuers. The Company believes that these measures and ratios provide investors with an improved ability to evaluate the prospects of the Company. As the White Gold Project is not in production the prospective non‐GAAP financial measures or ratios may not be reconciliated to the nearest comparable measures under IFRS and the equivalent historical non-GAAP financial measure for each prospective non‐GAAP measure or ratio discussed herein is nil$.

Mineral Resource Estimate

The PEA is based on the Company’s mineral resource estimate with an effective date of August 19, 2025, summarized in Table 3. The PEA mine plan incorporates the Golden Saddle, Arc, Ryan’s Surprise and VG deposits. Approximately one third of current resource ounces, including the QV deposit, sit outside the PEA mine plan and represent potential future additions subject to further drilling and study.

Table 3: White Gold Project Mineral Resource Estimate (Effective August 19, 2025)

(2) Open pit resources reported at a 0.3 g/t Au cut-off and underground resources at a 2.3 g/t Au cut-off, at a gold price of US$2,250/oz. Approximately 99% of resources are near surface and amenable to open pit mining. The Golden Saddle deposit contains a high-grade core of over 1.1 million ounces Indicated at 2.84 g/t Au at a 1.0 g/t cut-off. Mineral resources are not mineral reserves and do not have demonstrated economic viability. All numbers are rounded; overall numbers may not be exact due to rounding. See the Company’s technical report, August 19, 2025, for full parameters.

Mining

The PEA contemplates conventional open pit mining using truck and shovel methods at a nominal processing rate of 12,000 tonnes per day, with a total of 41 million tonnes of resource mined at an average grade of 1.54 g/t gold and a life of mine strip ratio of approximately 9:1, with 38% of material being classified as Inferred. The mine plan prioritizes higher-grade material in the early years of the production schedule after a one-year pre-strip period. Waste rock will be managed under a segregation protocol that separates potentially acid generating (PAG) material from non-acid generating (NAG) material, with PAG material placed in engineered, dedicated surface storage. This management approach is designed and costed in the PEA capital estimate rather than deferred to later study stages.

Processing and Recovery

In October 2025, White Gold initiated a metallurgical program to support the Preliminary Economic Assessment. Three representative mineralized domains were evaluated, designated VG, ARC, and Ryan’s Surprise, by Base Met labs to develop the flowsheet, characterize processing performance and provide key design parameters for the proposed processing facility. The test program assessed comminution characteristics, cyanide leach performance, cyanide detoxification, thickening, and filtration testing.

Ball mill work index testing was completed on samples from all three mineralized zones. The results demonstrated that the ARC and Ryan’s Surprise zones are of an average hardness while the VG sample can be classified as moderately hard.

Metallurgical optimization demonstrated that the implementation of a conventional carbon-in-leach processing flowsheet was the best option for the project. Testing confirmed that the Golden Saddle and VG deposits have similar metallurgy response with an average leach recovery of 92%. Predicted recoveries on material from the ARC and Ryan’s Surprise deposits, which comprise 30% of the material in the PEA production schedule, are 72%. The CIL flowsheet was determined to be the most applicable for the project because testwork indicates that carbon associated with the ARC and Ryan’s Surprise zones results in some preg-robbing. Preg-robbing is not an issue in the Golden Saddle and VG zones which comprise the bulk of the current mineral resource. The projected recovery for the four mineralized zones can be found in Table 4.

Table 4: Proposed CIL Recovery

In addition to recovery optimization, supporting testwork was completed to advance process plant design. This included cyanide detoxification testing, tailings thickening, and filtration testwork to establish design criteria for the tailings management and water recovery circuits. The results provide the engineering parameters required for preliminary sizing of the detoxification, thickening, and filtration equipment incorporated into the PEA process plant design outlined in Figure 2.

Figure 2: Proposed Process Flowsheet

Project Infrastructure

Project Infrastructure includes, an engineered tailings storage facility constructed in stages across the mine life, an on-site power plant and bulk fuel storage, water management and treatment facilities, an airstrip, and an accommodation camp. The tailings facility design incorporates staged embankment construction and basin lining, with most of the tailings capital deployed as sustaining capital in step with the production schedule. The Project proposes to tie into the planned Northern Access Route (NAR) from Dawson City to neighbouring properties. The award of the construction contract (by others) for the NAR was announced earlier this year with mobilization underway.

The overall layout showing the proposed location of the White Gold open pits, process plant, tailings and waste storage facilities, and project infrastructure is provided below in Figure 3.

Figure 3: White Gold Proposed Site Layout

Capital Costs

Initial capital is estimated at $1,050 million, inclusive of $139 million of contingency. Contingency was estimated by working area, with the highest rates applied to the process plant and tailings storage facility. Sustaining and closure capital of $472 million over the life of mine is driven primarily by staged tailings construction and includes closure and reclamation costs of $146 million net of salvage value, including contingency.

Table 5: Capital Cost Summary

Note: Totals may not sum due to rounding.

Operating Costs

Life of mine operating costs are estimated at $74.23 per tonne processed, comprising open pit mining of $3.77 per tonne mined, processing of $27.34 per tonne processed, and G&A and site services of $10.98 per tonne processed. Life of mine cash costs are US$1,290 per ounce and all-in sustaining costs are US$1,485 per ounce. Average annual operating costs are estimated to be $350 million annually.

Project Opportunities

The PEA is based on the current resource dated August 19, 2025, which includes drilling information up to November 1^st, 2025. A total of 2,500 metres of drilling have been completed since then in 2025 with 15,000 to 20,000 metres being drilled on the project in 2026. The Company has identified a number of opportunities with the potential to extend mine life, increase annual production, and improve project economics in subsequent studies:

• Resource conversion and growth at existing deposits. Approximately one third of current resource ounces sit outside the PEA mine plan. Mineralization at the deposits included in the PEA mine plan remains open along strike and at depth, and these areas are logical candidates for incorporation in future studies as drilling advances.
• Underground mining potential at Golden Saddle. Underground mining was not part of the PEA. Current drilling is targeted on this higher-grade portion of the deposit. The potential for underground mining will be examined as deeper drilling advances.
• Metallurgical optimization for Arc and Ryan’s Surprise. The PEA applies a preliminary recovery of 72.5% to Arc and Ryan’s Surprise material. Further test work targeting improved recoveries from these deposits is a direct lever on project economics.
• District exploration pipeline. The property hosts more than 25 identified targets developed through the Company’s systematic, data-driven exploration methodology. The majority have seen limited or no drill testing.
• Mine life extension through satellite feed. The processing facility is designed with capacity to accept feed from satellite deposits within trucking distance, providing a pathway to extend operations beyond the current mine plan without proportional capital addition.

Figure 4: Known deposits and property target pipeline

First Nations and Community

The White Gold Project lies within the Traditional Territory of the Tr’ondëk Hwëch’in. The Company understands the importance of the land and water to First Nations and is committed to building on its longstanding relationship with the Tr’ondëk Hwëch’in. The Company also acknowledges and commits to building relationships with the First Nations of White River, Selkirk and Na-Cho Nyäk Dun whose Traditional Territories overlap or partially overlap with a portion of the Company’s mineral tenures or the proposed access route to the Project. The Company will engage openly and consistently as the Project advances through assessment, permitting, and development. Ensuring the Project delivers lasting benefits to the communities in the region, and the entire Yukon, will be a fundamental consideration as the Project moves forward.

Permitting and Environmental

A foundation of historical site environmental work exists, supported by substantial regional baseline information. As the Project advances beyond the PEA stage, the Company expects to complete additional environmental baseline studies to support project design, First Nation engagement and consultation processes, and future permitting requirements.

Mine development would be subject to environmental and socio-economic assessment under the Yukon Environmental and Socio-economic Assessment Act, administered by the Yukon Environmental and Socio-economic Assessment Board, followed by the issuance of key authorizations by the Yukon Government, including Quartz Mining and Water Use Licenses. The scope of studies typically required to support First Nation consultation and Yukon regulatory review is well established in Yukon with recent permitting precedents. At this time, the Company is not aware of any site-specific environmental issues that would be expected to materially adversely affect its ability to develop the Project as contemplated in the PEA.

Next Steps

With the PEA complete, the Company’s near-term priorities include:

• 15,000-20,000 metres of drilling currently underway in 2026 focused on expanding known zones, with 3 drill rigs currently active on the property with a goal of continuing to increase total resources;
• Test promising new zones identified by soil geochemistry and geophysics.
• Additional metallurgical test work focused on Arc and Ryan’s Surprise to further optimize recoveries and supporting the next study stage;
• Initiate programs to geotechnically and geochemically characterize the tailings and waste rock;
• Commence environmental baseline data collection and advancement of YESAA-readiness work; and
• Ongoing engagement with the Tr’ondëk Hwëch’in and White River as well as neighbouring First Nations and the Yukon Government.

Qualified Persons

The scientific and technical information included in this news release were reviewed and approved by the Qualified Persons listed in Table 6.

Table 6: Qualified Persons

About White Gold Corp.

The Company owns a portfolio of 15,364 quartz claims across 21 properties covering 305,102 hectares (3,051 km²) representing approximately 40% of the Yukon’s emerging White Gold District. The Company’s flagship White Gold Project hosts four near-surface gold deposits which collectively contain a resource estimate of 1,732,300 ounces of gold in indicated resources (35.2 million tonnes grading 1.53 grams per tonne gold) and 1,265,900 ounces of gold in inferred resources (32.2 million tonnes grading 1.22 g/t Au) (see the Company’s news release dated October 6, 2025)⁽¹⁾⁽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 Talamore Mining (formerly Fuerte Metals) and Western Copper and Gold Corporation’s Casino Project. The Company is strategically supported by major shareholders Agnico Eagle Mines Limited. For more information visit www.whitegoldcorp.ca.

(3) White Gold Corp. “White Gold Corp. Files Technical Report Demonstrating Significant 44% Increase in Indicated Resources to 1,732,300 oz Gold (35.2 million tonnes grading 1.53 g/t) and 13.4% Increase in Inferred Resources to 1,265,900 oz Gold (32.2 million tonnes grading 1.22 g/t) at its Flagship White Gold Project, Yukon, Canada” Press Release 6 Oct, 2025. https://www.whitegoldcorp.ca/news/white-gold-corp-files-technical-report-demonstrating-significant-44-increase-in-indicated-resources-to-1732300-oz-gold-352-million-tonnes-grading-153-gt-and-134-increase-in-inferred-resources-to-1265900-oz-gold-322-million-ton

(4) All numbers are rounded. Overall numbers may not be exact due to rounding.

Technical Report

Additional supporting details regarding the information in this news release will be included in a Technical Report prepared in accordance with NI 43-101 and filed on SEDAR+ under the Company’s issuer profile at www.sedarplus.ca within 45 days of the date of this news release. It will include further details on qualifications, assumptions, exclusions and risks that relate to the details of this news release, including the PEA and Mineral Resource estimate. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.