White Gold Corp. Intersects Significant Additional Gold Mineralization including 5.34 g/t Gold over 10.85m Further Extending Mineralization Along Strike at the Ryan’s Surprise Target on its Flagship White Gold Property,
January 5, 2023
White Gold Corp. Intersects Significant Additional Gold Mineralization
including 5.34 g/t Gold over 10.85m Further Extending Mineralization Along
Strike at the Ryan’s Surprise Target on its Flagship White Gold Property,
Yukon, Canada
TORONTO, Jan. 5, 2023 – White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased
to report positive assay results for its 2022 diamond drilling program on the Ryan’s Surprise target, which is located
approximately 2km west of its flagship Golden Saddle and Arc deposits and 11km south of the Company’s VG deposit
on the Ryan’s Trend, a 6.5km long x 1km wide north -northwest trend of anomalous gold and arsenic in soils (Figure
1). Hole WHTRS22D029 encountered several zones of significant gold mineralization including 5.34 g/t Au over
10.85m and represents a 50m extension of mineralization along strike to the southeast. A mineralized footprint at
the Ryan’s Surprise target of approximately 450m east-west by 450m north -south and to a vertical depth of 450m
has been defined to date which remains open in all directions (Figure 2). The Golden Saddle and Arc deposits have
a combined 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) and the VG deposit hosts an Inferred gold resource of 267,600 ounces at 1.62 g/t Au (2). These assays represent
positive results from the Company’s $6 million 2022 exploration program on its extensive and underexplored
350,000 hectare land package in the emerging White Gold District, Yukon, supported by strategic partners including
Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).
“We are very pleased to have further expand ed and infilled the large footprint of gold mineralization at the Ryan’s
Surprise. Mineralization remains open in all directions, with Hole 29 this year ranking amongst the best holes drilled
to date at this target. We believe that the Ryan’s Surprise target has the ability to meaningfully increase the size of
our significant gold resources and look forward to conducting an initial resource estimate at this target which hosts
high-grade and bulk tonnage mineralization. We also look forward to the results from the drilling on several other
prospective targets on the Ryan’s Trend to demonstrate additional gold mineralization along the trend and the
potential for further expansion of our significant gold resources in this area,” stated David D’Onofrio, CEO.
Maps accompanying this news release can be found at https://whitegoldcorp.ca/news/.
Highlights:
• Drilling at the Ryan’s Surprise target has now encountered gold mineralization over an area measuring
approximately 450m E-W by 450m N-S, and to a vertical depth of 450m and remains open in all directions
• All 2022 diamond holes at Ryan’s Surprise intersected gold mineralization with significant results including:
o WHTRS22D029: a lower zone of 5.34 g/t Au over 10.85m from 266.50m depth, including 37.70 g/t
Au over 0.85m, and multiple upper zones including 1.26 g/t Au over 1 1.15m from 99.85m depth
and 2.74 g/t Au over 4.50m from 75m depth (Figures 3 & 4).
o WHTRS22D032: Multiple zones including 4.47 g/t Au over 1.40m from 95.3m depth, 0.58 g/t Au
over 17.5m from 179m depth , 8.03 g/t Au over 0.55m from 219.65m depth and 0.69 g/t Au over
14.35m from 315.25m depth, including 2.88 g/t Au over 1.80m.
• 2022 drilling at Ryan's Surprise followed up on drilling between 2018 and 2021 that identified significant
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zones of gold mineralization, with highlights including 20.64g/t Au over 6.10m in WHTRYN18RC0001, 2.10
g/t Au over 31.78m in WHTRS19D012, 8.69 g/t Au over 12.30m in WHTRS20D018, and 17.40 g/t Au over
3.47m in WHTRS20D013.
• WHTRS22D029 extended mineralization by 50m along strike to the southeast, which continues to remain
open.
• Three-dimensional geological modeling of the mineralization for Ryan’s Surprise (Figure 5) is currently being
updated in advance of an initial mineral resource estimate to be carried out in 2023.
• Additional exploration on the property in 2022 included diamond drilling at Ulli’s Ridge , the gap area
between Ulli’s Ridge and Ryan’s Surprise , and a focused prospecting program on other targets along the
6.5km long Ryan’s Trend, including follow-up rotary air blast (RAB) drilling . Results from this part of the
program will be announced in due course as results are received and interpreted.
2022 Exploration Program
The 2022 diamo nd drilling program at Ryan’s Surprise and Ulli’s Ridge comprised 9 holes totalling 2,685m which
further tested 3 separate target areas with the follow objectives:
1) Drilling at Ryan’s Surprise to provide sufficient drill spacing to conduct an initial mineral resource estimate;
2) The gap area between the Ryan’s Surprise and Ulli’s Ridge targets to identify the possible continuation of
mineralization at the Ryan’s Surprise to the south and if Ryan’s Surprise and Ulli’s Ridge may form part of
the same mineralized zone; and
3) The area around the newly discovered high -grade gold zone at Ulli’s Ridge, where hole WHTULR21D004
intersected 6.94 g/t Au over 19.5m as well as an untested area of the soil anomaly 300m northwest of the
high-grade discovery.
Results from the Gap and Ulli’s Ridge areas are pending and will be announced in due course as results are received
and interpreted.
Ryan’s Surprise Target
Gold mineralization was initially discovered at Ryan’s Surprise by Kinross in 2011 with diamond drill hole
WGRS11D0003 returning 6.34 g/t Au over 6.56 m and 3.88 g/t Au over 3.00m. Subsequent drilling by the Company
since 2018 has continued to encounter significant gold mineralization in multiple zones which remain open along
strike and down -dip with grades up to 20.6 4 g/t over 6.10m (see Company News Release dated Sep. 6, 2018) . In
2019, maiden diamond drilling at Ryan’s Surprise intersected 2.10 g/t Au over 31.78m in WHTRS19D012 (see
Company News Release dated Sep. 25, 2019) and d iamond drilling in 2020 returned several high -grade gold
intercepts including 17.40 g/t Au over 3.47m in hole WHTRS20D013, 10.96 g/t Au over 3.76m in hole WHTRS20D017,
and 8.69 g/t Au over 12.3 0m in hole WHTRS20D018 (see Company News Release dated Oct. 14, 2020). In 2021,
diamond drilling further expanded gold mineralization and returned gold intercepts including 10.36 g/t Au over
3.25m in WHTRS21D026, 1.66 g/t Au over 25.50m in WHTRSD020 and 1.88 g/t Au over 15.00m in WHTRS21D019
(see Company News Release dated Nov. 8, 2021).
The geology of the Ryan’s Surprise area consists of two primary lithological packages, an upper hanging wall mafic
to ultramafic package comprising amphibol ite and pyroxenite, and an underlying metasedimentary sequence of
metaquartzite, biotite-quartz-feldspar gneiss and minor biotite schist. The contact between the two packages strikes
northwest, is relatively flat -lying, and appears to be a possible thrust fault. Ryan’s Surprise is located along the
broader 6.5km long north -northwest gold-arsenic geochemical trend (“Ryan’s Trend”). Gold mineralization at the
Ryan’s Surprise target is hosted within a series of sub -parallel, en echelon style vein -filled fractures and structures
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which range in width between <1m to >10m, and dip steeply to the SSW. Located less than 1km away and within
the Ryan’s Trend, the Ulli’s Ridge target may represent the continued extension of these vein sets observed at Ryan’s
Surprise. Additional extensional drilling in 2022 to test the continuity of the zone between the two targets was
completed, and results of this drilling will be announced in due course.
Drilling at Ryan’s Surprise Target
Four holes were drilled at the Ryan’s Surprise target to provide sufficient drill spacing required to carry out an initial
mineral resource estimate. The highlight of this drilling was hole WHTRS22D029 which intersected an upper zone
grading 1.26 g/t Au over 11.15 m from 99.85 m downhole, and a lower main zone which returned 5.35 g/t Au over
10.85 m from 266.50 m downhole. Higher grade subintervals within this latter zone included 37.70 g/t Au over
0.85m and 21.30 g/t Au over 0.95m. These zones remain open to the east and down -dip and additional dia mond
drilling is recommended to further expand the mineralization. Hole WHTRS22D032 which was drilled in the central
portion of Ryan’s Surprise intersected broad zones of mineralization including 0.58 g/t Au over 17.50 m from
179.0m downhole and 0.69 g/t Au over 14.35 from 315.25m. Higher grade mineralization was also encountered,
including 4.47 g/t over 1.40 m from 95.30 m and 8.03 g/t Au over 0.55m from 219.65m. The Company is currently
updating the mineralization model for Ryan’s Surprise in preparation for an initial mineral resource estimate which
is expected to be completed in 2023.
Table 1. Summary of Significant 2022 Diamond Drilling Results at Ryan’s Surprise Target, White Gold property.
Hole ID From (m) To (m) Length (m)* Au (g/t) **
WHTRS22D029 75.00 79.50 4.50 2.76
99.85 111.00 11.15 1.26
incl. 99.85 102.70 2.85 2.68
and 107.25 110.00 2.75 2.06
175.95 176.45 0.50 7.76
204.35 204.85 0.50 4.83
266.50 277.35 10.85 5.34
incl. 266.50 267.35 0.85 37.70
and 271.20 272.15 0.95 21.30
WHTRS22D030 157.05 162.00 4.95 1.02
WHTRS22D031 69.50 71.00 1.50 0.97
238.00 238.85 0.85 1.76
WHTRS22D032 95.30 96.70 1.40 4.47
151.75 153.25 1.50 1.91
179.00 196.50 17.50 0.58
213.90 216.20 2.30 1.78
219.65 220.20 0.55 8.03
315.25 329.60 14.35 0.69
incl. 315.25 317.05 1.80 2.88
* All drill hole intercepts reported herein are core lengths. Currently there is insufficient data to
estimate true thicknesses.
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** Gold assays are uncapped.
Table 2. Collar details for 2022 Diamond Drill Holes at the Ryan’s Surprise and Ulli’s Ridge targets.
Hole ID
Collar Location (UTM NAD83, Zone 7)
Dip Azimuth Length
Easting
(m)
Northing
(m)
Elevation
(m) (deg) (deg) (m)
WHTRS22D029 574,323 7,004,413 741 -60 355 303.0
WHTRS22D030 574,212 7,004,557 756 -65 0 200.0
WHTRS22D031 574,039 7,004,533 742 -60 25 320.0
WHTRS22D032 574,091 7,004,371 681 -60 20 411.0
TOTAL 1,234.0
QA/QC
Analytical work for the 2022 diamond drilling program was performed by Bureau Veritas, an internationally
recognized analytical services provider, at its North Vancouver, British Columbia laboratory. Sample preparation
was carried out at its Whitehorse, Yu kon facility. All diamond drill core samples were prepared using the PRP70 -
250 package, where samples were weighed, dried, and crushed to greater than 70% passing a 2mm sieve, then
pulverized to greater than 85% passing 75 microns). Core were then analyze d in accordance with BV’s FA430 and
MA250 packages, for both gold analysis by fire assay (30g fire assay with AAS finish) and ultra -trace multi-element
ICP analysis (0.25 g, 4 acid digestion and ICP-MS analysis).
The reported diamond drilling sampling pr ogram work was completed using industry standard procedures,
including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of standards and blank
samples into the sample stream. BV also runs a comprehensive QA/QC program of standards, duplicates, and blanks
within each sample stream.
About White Gold Corp.
The Company owns a portfolio of 17,584 quartz claims across 3 0 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 14.8 Moz Au and 7.6 Blb Cu
and Inferred Resources of 6.3 Moz Au and 3.1 Blb Cu(4). For more information visit www.whitegoldcorp.ca.
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(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 technic al report titled “Casino project, Form 43 -101F1 Technical Report Feasibility Study,
Yukon Canada”, Effective Date June 13, 2022, Issue Date August 8, 2022, 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.
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", "sch eduled", "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 an y
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 Co mpany’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 currenc y 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 m ineral 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 a nd
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
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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 d eposit; 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, ex cept 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
To Book a Meeting with Management: https://whitegoldcorp.ca/contact/request-information/
Golden Saddle
Deposit
Arc Deposit
Ryan’s
Surprise
Ulli’s Ridge
Teacher Showing
2022 Diamond
Drilling
2022 RAB
Drilling
Combined Resource:
1.14 Moz Indicated @ 2.28 g/t Au
0.40 Moz Inferred @ 1.39 g/t Au
Figure 1
WHITE GOLD PROPERTY
Minneapolis Creek
Principal Ridge