Whitehorse Gold Entered into a Loan Agreement With a Right of First Refusal to Acquire a High Grade Gold Project in Guinea
Whitehorse Gold Entered into a Loan Agreement With a Right of First
Refusal to Acquire a High Grade Gold Project in Guinea
WHG-NR-22-06 April 5, 2022
Vancouver, British Columbia: Whitehorse Gold Corp. (“Whitehorse Gold” or the “Company”) (TSXV:
WHG; OTCQX: WHGDF) is pleased to announce that it has entered into to a loan agreement (“Loan
Agreement”) with a private Guinean gold mining company which owns certain mining concessions and
licenses located in Guinea (the “Properties”), in exchange for a four-month exclusive right to negotiate an
option acquisition agreement to acquire a 100% interest in the Guinean gold mining company (the
“Borrower”).
Loan Details
Pursuant to the Loan Agreement, the Company has advanced a US$250,000 loan to the Borrower, mainly
for the payment of Government tax on the title of the Properties. As security for the loan, the Borrower has
pledged its shares in the wholly-owned subsidiary which holds the title of the Properties. The loan has a
term of two years and an interest of 5%.
ABOUT WHITEHORSE GOLD CORP.
Whitehorse Gold is a mineral exploration company focused on its 170 km 2 gold project located in southern
Yukon, approximately 55 km south-southwest of Whitehorse. The Project hosts the advanced-stage
Skukum Creek and Goddell deposits, and the formerly producing Mt. Skukum high-grade gold mine, all of
which remain open for expansion, plus additional untested mineralized occurrences. Project infrastructure
includes an all-weather access road, a 50-person camp, approximately 6 km of underground development,
and a previously operating 300-tpd mill and associated support facilities. Underground operations by a
previous operator at Mt. Skukum from 1986 to 1988 saw 233,400 tons of ore mined and processed to
recover approximately 79,750 ounces of gold (Total Energold Corporation, 1989). The company is also
reviewing other mining assets in jurisdictions that provide year-round access.
On Behalf of Whitehorse Gold Corp.
signed “Gordon Neal”
Gordon Neal, CEO & Director
For further information please contact:
Investor Relations, Whitehorse Gold Corp.
Phone: 604-336-5919
Email: [email protected]
www.whitehorsegold.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news
release.
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain of the statements and information in this press release constitute “forward-looking statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable
Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions,
Whitehorse Gold Corp.
1750 - 1066 West Hastings Street
Vancouver, BC, Canada V6E 3X1
Telephone: (604) 336-5919
www.whitehorsegold.ca
Whitehorse Gold Corp. 2 April 5, 2022
NR-22-06 – Continued
expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using
words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”,
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certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any
of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or
information. Forward-looking statements or information relate to, among other things: the price of gold and other metals; the
accuracy of mineral resource and mineral reserve estimates at the Company’s material properties; the sufficiency of the Company’s
capital to finance the Company’s operations; estimates of the Company’s capital expenditures; timing of receipt of permits and
regulatory approvals; availability of funds from production to finance the Company’s operations; and access to and availability of
funding for future construction, use of proceeds from any financing and development of the Company’s properties.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors
that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including,
without limitation, social and economic impacts of COVID-19; risks relating to: fluctuating commodity prices; calculation of
resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource
and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licenses;
title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent
market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating
expenditures and economic returns of future production; integration of future acquisitions into the Company’s existing operations;
competition; operations and political conditions; regulatory environment in Canada and Guinea; environmental risks; legislative
and regulatory initiatives addressing global climate change or other environmental concerns; foreign exchange rate fluctuations;
insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal
control over financial reporting; and bringing actions and enforcing judgments under U.S. securities laws.
This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-
looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the
Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or
information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the
Company’s Annual Information Form for the year ended December 31, 2021 under the heading “Risk Factors”. Although the
Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors
that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance
on forward-looking statements or information.
The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of
management as of the date of this press release, and other than as required by applicable securities laws, the Company does not
assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions,
beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the
reasons set forth above, investors should not place undue reliance on forward-looking statements and information.