White Gold Corp. Closes Second and Final Tranche of $5.25M Upsized Private Placement
White Gold Corp. Closes Second and Final Tranche of $5.25M Upsized Private
Placement
TORONTO, Jan. 03, 2025 -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased to
announce the closing of the second and final tranche of a non-brokered private placement, previously announced on December
5, 2024, for aggregate gross proceeds of approximately $250,000 consisting of the sale of 1,136,364 common shares at a
price of C$0.22 per common share (each an “HD Share”) (the "Offering”). Combined with the closing of the first tranche of the
Offering completed on December 23, 2024, in total the Offering raised gross proceeds of $5.25 million (see the Company's
news release dated December 23, 2024).
“We are very grateful for the strong support and interest in this upsized financing to fully fund an impactful 2025 exploration
program on our district-scale gold and critical mineral property portfolio with a unique mix of significant defined gold resources
with extensive prospectivity for growth and greenfield opportunities in a prolific and underexplored area of a tier 1 jurisdiction in
Canada,” 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)
(“Agnico”) dated December 13, 2016, Agnico acquired the 1,136,364 HD Shares pursuant to the Offering and holds 18.3%
ownership interest in the Company on a partially-diluted basis following the completion of the Offering.
All securities issued pursuant to the Offering 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). For
more information visit www.whitegoldcorp.ca.
(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+.
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 use of proceeds
from the Offering; 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; the completion of the Offering on the terms described herein, or at all; 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; and those factors described in the most recently
filed management’s discussion and analysis of the Company. 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.
Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880