White Gold Corp. (TSX-V: WGO) (OTC – Nasdaq Intl: WHGOF) (FRA: 29W) is pleased to announce the Company has received $3.35 million in proceeds from the exercise of outstanding share purchase warrants with an expiry date of October 27, 2019, originally issued as part of the Company’s October 27, 2016 private placement financing. All related warrants have been exercised, including the participation of management, directors and other insiders.
“We are very grateful for the continued support of our shareholders,” stated David D’Onofrio, CEO. “These funds will contribute to our continued exploration activities and the advancement of our portfolio of gold targets, discoveries and resources in the prolific White Gold District, Yukon, Canada.”
About White Gold Corp.
The Company owns a portfolio of 22,040 quartz claims across 35 properties covering over 439,000 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,700 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Goldcorp Corporation with a M&I gold resource(1) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(1) of 8.9M oz Au and 4.5B lb Cu.
(1) Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.
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We acknowledge the [financial] support of the Government of Canada.