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White Gold Corp. Commences Drill Program at the Betty Property, Yukon

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TORONTO, July 05, 2022 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO,
OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased to announce the
commencement of the 2022 drill program at the Betty Ford and Mascot targets on
its Betty property. The Betty property is strategically located in the
southern part of the Company’s land package, approximately 15 km northeast
of Western Copper and Gold Corporation’s (TSX: WRN, NYSE: WRN) Casino
porphyry deposit (Measured & Indicated Resources of 14.5 Moz gold & 7.6 Blbs
copper and Inferred Resources of 6.6 Moz gold and 3.3 Blb copper((4))) and 40
km east of Newmont Corporation’s (NYSE: NEM, TSX: NGT) Coffee gold deposit
(Measured & Indicated Resources of 2.14 Moz gold and Inferred Resources of
0.23 Moz gold((3))). This 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 Agnico Eagle Mines Limited (TSX: AEM, NYSE:
AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).

“Our 2021 maiden diamond drill program on the Betty Ford target returned one
of the best holes drilled in the district, intersecting 3.46 g/t gold over 50m
from near surface. We are eager to follow up on this exciting discovery to
further test the extents of the broad gold zone encountered. We are also
excited to commence a maiden diamond drill program at the Mascot Target that
hosts three large gold mineralized zones, which we believe may be indicative
of the presence of a broader gold system. Our Betty property is located in
close proximity to existing large gold and copper deposits along the same
fault structure. We look forward to further advancing this prospective and
underexplored property,” 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 Betty Drilling Program Include:
* Approximately 2,200 m of diamond drilling and 1,650 m of reverse circulation
(RC) drilling is planned, focussing primarily on the Betty Ford and Mascot
targets (Figure 1).
* Drilling at the Betty Ford target will test the depth and strike extents of
the gold mineralized zone identified in last season’s maiden diamond
drilling program which included 3.46 g/t Au over 50 m in hole BETFD21D003 and
1.17 g/t Au over 48.0 m in BETFD21D001.
* Planned drilling at the Mascot target, located approximately 5 km southeast
of Betty Ford, represents maiden diamond drilling on this target. Drilling is
focusing on 3 known gold mineralized zones (Page, Boop and Davis), where
historical RC drilling encountered significant gold and silver mineralization
including 2.62 g/t Au & 107 g/t Ag over 41.1 m in hole BETR12-022 at Page,
29.75 g/t Au over 3.1 m in BETR12-012 and 2.19 g/t Au over 10.7 m including
6.05 g/t Au over 3.1m in BETR12-014 at Boop, and 1.48 g/t Au over 21.3 m in
BETR12-007 at Davis. See Prospector Metals Corp. (formerly Ethos Gold Corp.)
News Release dated June 26, 2012.
* Planned RC drilling will also test several additional targets elsewhere on
the property including the Betty Black target located directly on the Coffee
Creek Fault approximately 5 km west-northwest of Betty Ford and the Betty
Grable target which may represent a strike extension of the Betty Ford 1.5 km
to the west.
* 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/.
An overview of the planned 2022 Betty drill program, was provided in a Company
News Release dated May 18, 2022. To date, the Company has completed the
initial phase of diamond drilling at the Ryan’s Surprise and Ulli’s Ridge
targets on the White Gold property, with further details provided in a Company
News Release dated June 13, 2022. Once the Betty drill program is complete,
the diamond drill rig will return to the White Gold property to carry out an
additional phase of drilling on Ryan’s Surprise. RAB drilling is planned
later in the season to test targets along the Ryan’s Trend, a 6.5 km long
NNW gold and arsenic soil geochemical trend located approximately 2km west of
the Golden Saddle and Arc deposits which also hosts the Ryan’s Surprise and
Ulli’s discoveries. Assay results for all drill programs will be released as
they become available and are interpreted by the Company.

About White Gold Corp.
The Company owns a portfolio of 17,584 quartz claims across 30 properties
covering approximately 350,000 hectares representing over 40% of the Yukon’s
emerging White Gold District. The Company’s flagship White Gold property
hosts the Company’s Golden Saddle and Arc deposits which have a 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)). Mineralization on the Golden Saddle and Arc is
also known to extend beyond the limits of the current resource estimate. The
Company’s recently acquired VG Deposit also hosts an Inferred gold resource
of 267,600 ounces at 1.62 g/t Au(()(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 Newmont Corporation with Measured and Indicated
Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at
1.32 g/t Au((3)), and Western Copper and Gold Corporation’s Casino project
which has Measured and Indicated Resources of 14.5 Moz Au and 7.6 Blb Cu and
Inferred Resources of 6.6 Moz Au and 3.3 Blb Cu((4)). For more information
visit www.whitegoldcorp.ca.

(1) See White Gold Corp. technical report titled “Technical Report for the
White Gold Project, Dawson Range, Yukon Canada”, Effective Date May 15,
2020, Report Date July 10, 2020, prepared by Dr. Gilles Arseneau, P.Geo., and
Andrew Hamilton, P.Geo., available on SEDAR.
(2) See White Gold Corp. technical report titled “Technical Report for the
QV Project, Yukon, Canada”, Effective Date October 15, 2021, Report Date
November 15, 2021, available on SEDAR.
(3) See Newmont Corporation news release titled “Newmont Reports 2021
Mineral Reserves of 93 Million Gold Ounces and 65 Million Gold Equivalent
Ounces”, dated February 24, 2022:
https://www.newmont.com/investors/news-release/default.aspx.
(4) See Western Copper and Gold Corporation technical report titled “Form
43-101F1 Technical Report Preliminary Economic Assessment”, Effective Date
June 22, 2021, Report Date August 2, 2021 , 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., and Daniel Friedman, P.Eng., available on
SEDAR.

Qualified Person 
Terry Brace, P.Geo. and Vice President of Exploration for the Company is a
“qualified person” as defined under National Instrument 43-101 –
Standards of Disclosure of Mineral Projects and has reviewed and approved the
content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains "forward-looking information" and "forward-looking
statements" (collectively, "forward-looking statements") within the meaning of
the 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 at the date of this news release.
Any statement that involves discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions, future
events or performance (often but not always using phrases such as "expects",
or "does not expect", "is expected", "anticipates" or "does not anticipate",
"plans", “proposed”, "budget", "scheduled", "forecasts", "estimates",
"believes" or "intends" or variations of such words and phrases or stating
that certain actions, events or results "may" or "could", "would", "might" or
"will" be taken to occur or be achieved) are not statements of historical fact
and may be forward-looking statements. In this news release, forward-looking
statements relate, among other things, the Company’s objectives, goals and
exploration activities conducted and proposed to be conducted at the
Company’s properties; future growth potential of the Company, including
whether any proposed exploration programs at any of the Company’s properties
will be successful; exploration results; and future exploration plans and
costs and financing availability.

These forward-looking statements are based on reasonable assumptions and
estimates of management of the Company at the time such statements were made.
Actual future results may differ materially as forward-looking statements
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to
materially differ from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors, among
other things, include: the expected benefits to the Company relating to the
exploration conducted and proposed to be conducted at the White Gold
properties; the receipt of all applicable regulatory approvals for the
Offering; failure to identify any additional mineral resources or significant
mineralization; the preliminary nature of metallurgical test results;
uncertainties relating to the availability and costs of financing needed in
the future, including to fund any exploration programs on the Company’s
properties; business integration risks; fluctuations in general macroeconomic
conditions; fluctuations in securities markets; fluctuations in spot and
forward 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,
taxation, controls, regulations and political or economic developments; risks
and hazards associated with the business of mineral exploration, development
and mining (including environmental hazards, industrial accidents, unusual or
unexpected formations pressures, cave-ins and flooding); inability to obtain
adequate insurance to cover risks and hazards; the presence of laws and
regulations that may impose restrictions on mining and mineral exploration;
employee relations; relationships with and claims by local communities and
indigenous populations; availability of increasing costs associated with
mining inputs and labour; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses, permits and
approvals from government authorities); the unlikelihood that properties that
are explored are ultimately 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 being
preliminary in nature and are not conclusive evidence of the likelihood of a
mineral deposit; title to properties; ongoing uncertainties relating to the
COVID-19 pandemic; and those factors described under the heading "Risks
Factors" in the Company's annual information form dated July 29, 2020
available on SEDAR. Although the forward-looking statements contained in this
news release are based upon what management of the Company believes, or
believed 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 that cause results not to be as
anticipated, estimated 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 does not undertake to release publicly any revisions for
updating 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.

For Further Information, Please Contact:

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880 
ir@whitegoldcorp.ca

To Book a Meeting with Management:
https://whitegoldcorp.ca/contact/request-information/

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/dd0f98af-0213-4cf7-9d95-2296b1f4c671

(https://www.globenewswire.com/NewsRoom/AttachmentNg/e85dca99-25d6-4f3d-934b-af63aa62e961)
Figure 1 
(https://www.globenewswire.com/NewsRoom/AttachmentNg/dd0f98af-0213-4cf7-9d95-2296b1f4c671/en)
Betty Property 2022 Drilling Program Overview


GlobeNewswire, Inc. 2022

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