White Gold Corp. Announces $20 Million Private Placement
Not for distribution to U.S. news wire services or dissemination in the United States.
TORONTO, Sept. 22, 2025 (GLOBE NEWSWIRE) — White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the “Company” or “White Gold”) is pleased to announce it has entered into an agreement with Clarus Securities Inc. (“Clarus” or the “Lead Agent”) who will act on behalf of the Company, together with a syndicate of agents (collectively, with the Lead Agent, the “Agents”), on a “best efforts” agency basis, in connection with a brokered private placement (the “Offering”) of premium flow-through units (each a “Premium Flow-Through Unit”), at a price of $1.17 per Premium Flow-Through Unit, flow-through common shares (each a “Flow-Through Share”), at a price of $1.00 per Flow-Through Share, and units of the Company (each a “Unit”, and together with the Premium Flow-Through Units and the Flow-Through Shares, the “Offered Securities”) at a price of $0.85 per Unit. Each Unit shall consist of one common share in the capital of the Company (each a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Common Share at a price of $1.15 for a period of 24 months following the closing date of the Offering. Each Premium Flow-Through Unit shall consist of one Flow-Through Share and one-half of one Warrant. The Flow-Through Shares to be issued pursuant to the Offering will be issued as “flow-through shares” with respect to “Canadian exploration expenses” within the meaning of the Income Tax Act (Canada). The Agents will have an option (the “Agent’s Option”), exercisable in whole or in part up to 48 hours prior to the Closing Date (as defined herein), to offer for sale up to any combination of additional Offered Securities (at the respective offering prices) to raise up to an additional $3,000,000 in gross proceeds.
Pursuant to an existing investor rights agreement between the Company and Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) (“Agnico”), Agnico has the right to participate in the Offering in order to maintain its pro rata interest in the Company, and have indicated to the Company that they intend to maintain their approximate 19.8% interest in the Company on a partially diluted basis.
White Gold owns a portfolio of 15,364 quartz claims across 21 properties covering 305,102 hectares (3,051 km2) representing approximately 40% of Yukon’s emerging White Gold District. The Company’s flagship White Gold project hosts four near-surface gold deposits which collectively contain an estimated 1,732,300 ounces of gold in Indicated Resources (35.2 million tonnes grading 1.53 g/t Au) and 1,265,900 ounces of gold in Inferred Resources (32.2 million tonnes grading 1.22 g/t Au) (see Company news release dated August 21, 2025)(1) with significant expansion potential on the resource itself and in the immediately surrounding area. Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages, some of which border sizable gold & copper projects including the Coffee project owned by Newmont Corporation, which Newmont has entered into an agreement to sell to Fuerte Metals Corporation, with Measured and Indicated Resources of 80 Mt grading 1.15 g/t Au for 3.0 million ounces of gold (2)(3), and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 2,490.7 Mt grading 0.18 g/t Au, 0.14% Cu for 14.8 million ounces of gold and 7.6 billion pounds of copper, and Inferred Resources of 1.4 Mt grading 0.14 g/t Au, 0.14% Cu for 6.3 million ounces of gold and 3.1 billion pounds of copper(3)(4).
“We are very appreciative of the interest and support from new and existing shareholders for our exploration activities to advance our White Gold Project which has grown into a leading large scale high-grade open pittable gold deposit in a tier-one jurisdiction in Canada. We look forward to further increasing the scale of the project as we concurrently advance it to a PEA to demonstrate its economic potential. Our exploration activities will also continue focus on unlocking additional value across our extensive land package targeting gold and critical mineral opportunities in the prolific and under explored White Gold District, which has recently drawn additional interest along with other areas of the Yukon,” stated David D’Onofrio, Chief Executive Officer.
The gross proceeds from the sale of the Premium Flow-Through Units and the Flow-Through Shares will be used by the Company to incur exploration expenditures on its properties in the White Gold District of the Yukon Territory (the “Qualifying Expenditures”) prior to December 31, 2026. The Qualifying Expenditures will be renounced to subscribers of Premium Flow-Through Units and Flow-Through Shares for the fiscal year ended December 31, 2025. The gross proceeds from the sale of the Units are expected to be used for general corporate expenses.
This proposed Offering is subject to receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange (the “TSXV”).
The Offered Securities to be issued under the Offering will be offered pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Closing of the Offering is anticipated to occur on or about October 9, 2025, or such other date as may be agreed to by the Company and Clarus (the “Closing Date”).
Participation by Agnico and any other insiders of the Company (collectively, the “Insiders”), in the Offering will be considered a “related party transaction” pursuant to Multilateral Instrument 61- 101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company will be exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Insiders’ participation in the Offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report will be filed in connection with the participation of Insiders in the Offering less than 21 days in advance of the closing of the Offering, which the Company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About White Gold Corp.
The Company owns a portfolio of 15,364 quartz claims across 21 properties covering 305,102 hectares (3,051 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 1,732,300 ounces of gold in Indicated Resources and 1,265,900 ounces of gold in Inferred Resources (see Company news release dated August 21, 2025)(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 with Measured and Indicated Resources of 80.0 Mt grading 1.15 g/t Au for 2.96 million ounces of gold, and Inferred Resources of 21.2 Mt grading 1.17 g/t Au for 0.80 million ounces gold (2)(3), and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 2,490.7 Mt grading 0.18 g/t Au, 0.14% Cu for 14.8 million ounces of gold and 7.6 billion pounds of copper, and Inferred Resources of 1.4 Mt grading 0.14 g/t Au, 0.14% Cu for 6.3 million ounces of gold and 3.1 billion pounds of copper(3)(4). For more information visit www.whitegoldcorp.ca.
(1) See news release of the Company dated August 21, 2025.
(2) See news release of Fuerte Metals Corporation dated September 15, 2025.
(3) The QP has been unable to verify the information. The information is not necessarily indicative to the mineralization on the properties that are subject of the disclosure.
(4) 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+.
(5) All numbers are rounded. Overall numbers may not be exact due to rounding.
Qualified Person
Steven Walsh, P.Geo. and Senior Exploration Geologist 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 Offering, the proposed use of proceeds from the Offering, Agnico’s participation in the Offering, the timing and ability of the Company to receive necessary approvals; 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; and those factors described under the heading “Risks and Uncertainties” in the Company’s annual management’s discussion and analysis for the 12 months ended December 31, 2025 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
