White Gold Corp. (TSX-V: WGO) (OTCQX: WHGOF) (FRA: 29W) is pleased to announce the closing of the first tranche of a non-brokered private placement for aggregate gross proceeds of approximately $5,015,000 consisting of the sale of: (i) 8,063,000 common shares in the capital of the Company that qualify as “flow-through shares” within the meaning of the Income Tax Act (Canada) (the “Tax Act”) at a price of C$0.26 per share; (ii) 5,092,593 FT Shares that will also qualify for the federal 30% Critical Mineral Exploration Tax Credit at a price of $0.27 per share; and (iii) 7,013,182 Common Shares a price of C$0.22 per share.

“We are very appreciative for the continued support and strong interest in this financing from new and existing shareholders to fully fund an impactful 2025 exploration program, and are excited to continue to unlock the vast potential of our district scale portfolio in one of Canada’s prolific mineral belts which continues to demonstrate abundant gold and critical mineral prospectivity. To date White Gold has delineated significant gold resources, made recent new discoveries and developed an exceptional exploration pipeline for gold, copper and other critical mineral opportunities in this tier 1 mining jurisdiction,” stated David D’Onofrio, Chief Executive Officer.

Pursuant to an investor rights agreement between the Company and Agnico Eagle Mines Limited (TSX: AEM) (NYSE: AEM) dated December 13, 2016, Agnico has indicated that it intends to acquire approximately 1,136.363 HD Shares pursuant to the Offering that is expected to close on or about January 3, 2025. In addition, certain officers and directors of the Company acquired 1,217,273 HD Shares today pursuant to the Offering.

Insiders including Messrs. D’Onofrio, Raza and Bromley have purchased, or have agreed to purchase, an aggregate of 2,353,636 Common Shares pursuant to the Offering. Participation by Insiders in the Offering is considered a “related party transaction” pursuant to Multilateral Instrument 61- 101 – Protection of Minority Security Holders in Special Transactions. The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Insiders’ participation in the Offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company will file a material change report less than 21 days prior to closing of the Offering as the participation of the Insiders in the Offering had not been confirmed at that time.

The gross proceeds received from the sale of the FT Shares will be used to incur (or deemed to incur) “Canadian exploration expenses” as defined in subsection 66.1(6) of the Tax Act, and the gross proceeds from the sale of the CFT Shares will be used to incur (or deemed to incur) eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” (as both terms are defined in the Tax Act), related to the Company’s properties in the White Gold District of the Yukon Territory, on or before December 31, 2025, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares, and CFT Shares effective December 31, 2024.

In connection with the closing of the first tranche of the Offering, the Company paid to cash finders’ fees to certain finders equal to 7.0% of the gross proceeds raise by each finder and issued to finders an aggregate of 472,405 finders’ warrants, representing 7.0% of the aggregate number of Offered Shares sold to purchasers introduced to the Company by such finders. Each finders’ warrant will entitle the holder to acquire one Common Share at a price of $0.22 per Common Share for a period of 36 months from the date of issuance.

All securities issued pursuant to the Offering, including the Common Shares underlying the finders’ warrants, are subject to a statutory four-month and one day hold period in accordance with applicable Canadian securities laws.

About White Gold Corp.

The Company owns a portfolio of 15,876 quartz claims across 26 properties covering approximately 315,000 hectares (3,150 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 an estimated 1,203,000 ounces of gold in Indicated Resources and 1,116,600 ounces of gold in Inferred Resources⁽¹⁾. 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 2.1 Moz at 1.28 g/t gold and Inferred Resources of 0.2 Moz at 1.04 g/t gold⁽²⁾, and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 7.6 Blb copper and 14.5 Moz gold and Inferred Resources of 3.3 Blb copper and 6.6 Moz gold⁽³⁾.

(1) See White Gold Corp. press release dated November 19, 2024, available on SEDAR+.
(2) See Newmont Corporation Form 10-K: Annual report for the year ending December 31, 2023, in the Measured, Indicated, and Inferred Resources section, dated February 29, 2024, available on EDGAR. Reserves and resources disclosed in this Form 10-K have been prepared in accordance with the Regulation S-K 1300, and do not indicate NI43-101 compliance.
(3) See Western Copper and Gold Corporation technical report titled “Casino project, Form 43-101F1 Technical Report Feasibility Study, Yukon Canada”, Effective Date June 13, 2022, Issue Date August 8, 2022, NI 43-101 Compliant Technical Report prepared by Daniel Roth, PE, P.Eng., Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M. Tahija, MMSA-QP, Carl Schulze, P.Geo., Daniel Friedman, P.Eng., Scott Weston, P.Geo., available on SEDAR+.