White Gold Corp. Announces Upsize to Private Placement

Article content

Not for distribution to US news agencies or for publication in the United States.

Article content

Article content

TORONTO, Dec. 19, 2024 (GLOBE NEWSWIRE) — White Gold Corporation (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the “a company) is pleased to announce, in addition to the previously unannounced private placement (see the Company’s news release dated December 5, 2024 on SEDAR+), its intention to increase the size of the previously announced non-brokered private placement from $4,500,000 up to approximately $5,250,000. (“an offer“).

Article content

“We are extremely grateful for the strong interest and support for our exciting and impactful exploration activities in the White Gold District,” said David Donofrio, CEO.

In connection with the Offering, the Company may pay qualified finders a fee equal to 7.0% of the gross proceeds raised by the Company from the sale of Offer Shares to underwriters introduced directly to the Company by such finders. In addition, the Company may issue to Eligible Finders non-transferable warrants equal to 7.0% of the number of Offer Shares sold in the Offering to subscribers introduced directly to the Company by such Eligible Finders. Each discovery 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.

The first tranche of the offering is expected to close on or about December 20, 2024 and is subject to the satisfaction of certain conditions, including the receipt of all applicable regulatory approvals including the approval of the TSX Venture Exchange (“TSXV“).

Article content

Article content

About White Gold Company
The company has a portfolio of 15,876 quartz claims across 26 properties covering approximately 315,000 hectares (3,150 km2).²) represents approximately 40% of Yukon’s emerging white gold region. The company’s flagship white gold project hosts four near-surface gold deposits that 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 new discoveries and other potential targets in the company’s claims packages that cap significant gold discoveries including the Newmont Corporation-owned Coffee Project 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/ton of gold⁽²⁾The Western Copper and Gold Corporation Casino Project has measured and indicated resources of 7.6 billion copper and 14.5 million ounces of gold and inferred resources of 3.3 billion copper and 6.6 million ounces of gold.⁽³⁾. For more information visit www.whitegoldcorp.ca.

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

Article content

Cautionary note regarding forward-looking information
This press release contains “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement that includes discussions regarding predictions, projections, beliefs, plans, projections, objectives, assumptions, or future events or performance (often but not always using expressions such as “anticipates,” “does not anticipate,” “expects,” “expects,” or “ We do not anticipate,” “plan,” “proposed,” “budget,” “scheduled,” “predict,” “estimate,” “believe,” “intend,” or variations of these words and phrases, indicate or imply that certain actions or Events or results that “may,” “could,” “may,” “may,” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this press release, forward-looking statements relate to, among other things, the offering, including all regulatory approvals; Use of offering proceeds; The Company’s goals, objectives and exploration activities conducted and proposed to be conducted at the Company’s properties; The Company’s future growth potential, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; Future exploration plans, their costs and availability of financing.

Article content

These forward-looking statements are based on reasonable assumptions and estimates of the Company’s management at the time the statements are made. Actual future results may differ materially because forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements. These factors include, among others, the following: the expected benefits to the Company in connection with the exploration conducted and proposed to be conducted at the White Gold Properties; receipt of all applicable regulatory approvals for the offering; completing the Offering on the terms set forth herein, or at all; failure to identify any additional mineral resources or significant mineralization; The preliminary nature of metallurgical test results; uncertainty regarding the availability and costs of necessary financing in the future, including financing any exploration programs for the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; Fluctuations in stock markets. fluctuations in the spot and futures prices of gold, silver, base metals or certain other commodities; Fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); Change in national and local government, legislation, taxes, controls, regulations and political or economic developments; Risks and hazards associated with mineral exploration, development and mining (including environmental risks, industrial accidents, unusual or unexpected formation pressures, cave-ins and floods); Inability to obtain adequate insurance to cover risks and dangers; the existence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; Relations with local and indigenous communities and their claims; availability of increased costs associated with mining inputs and labor; The speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from governmental authorities); the improbability that properties being explored will ultimately be developed into producing mines; Geological factors Actual results of current and future exploration; Changes in project parameters as plans continue to be evaluated; Soil sampling results are preliminary in nature and are not conclusive evidence of the possible presence of mineral deposits; ownership of property; These factors are described in the most recent management discussion and analysis provided to the Company. Although the forward-looking statements contained in this press release are based on what management of the Company believes, or believes at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be Other factors make the results not expected, intended, or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company undertakes no obligation to publicly announce any revisions to update any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Contact information:
David D’Onofrio
chief executive officer
White Gold Company
(647) 930-1880
ir@whitegoldcorp.ca

Article content