TORONTO, ONTARIO--(Marketwired - Sept. 5, 2017) - White Gold Corp. (TSX VENTURE:WGO) (the "Company") applauds the announcement made on September 2, 2017 by Prime Minster Justin Trudeau and Yukon Premier Sandy Silver committing more than $360 million in combined federal and territorial funding to improve road access in two mineral-rich areas in Yukon, including the Dawson Range which hosts the White Gold District. In total, the Yukon Resource Gateway Project will help upgrade over 650 kilometres of road and build or replace numerous bridges, culverts and stream crossings. In the Dawson Range, four separate public road systems will be upgraded.
The Company is the largest landholder in the White Gold District, Dawson Range, owning 390,000 hectares which represents approximately 40% of the district. The properties range from grass roots to more advanced exploration projects, including approximately one million ounces of gold grading between 2.7 and 3.19 grams per tonne (g/t) gold (Au) on the Golden Saddle area based on historic estimates of measured and indicated resources on its White Gold property, in addition to the Arc zone, where the historic resource included 170,470 ounces of gold at a grade of 1.21 g/t Au in the inferred category.
White Gold Corp. is run by a highly experienced technical team with a track record of multiple discoveries in the White Gold District, and is currently carrying out a fully financed three year exploration program including the expansion of the historic resources. As at the date hereof, Agnico Eagle Mines Limited and Kinross Gold Corporation ("Kinross") each own approximately 19.9% of the Company.
Shawn Ryan, Chief Technical Advisor and a Director of the company, commented: "The historic Yukon Resource Gateway project as announced by Prime Minster Justin Trudeau and Yukon Premier Sandy Silver represents a major step forward towards unlocking Yukon's mineral potential. White Gold Corp. is fully committed and looks forward to continue working with the Federal, Territorial and First Nation Governments as we advance our exciting portfolio of Yukon projects for the benefit of all Canadians."
The White Gold Property
The White Gold property is located approximately 95km south of Dawson City, Yukon and consists of 1,835 claims covering approximately 36,265 hectares. The property was historically explored by Underworld Resources Inc. ("Underworld") from 2007 - 2009 and included the discovery of the Golden Saddle and Arc zones. In 2010, Underworld reported a resource estimate of 1,004,570 ounces contained in 9.80 Mt at a grade of 3.19 g/t Au in an Indicated category, with an additional 407,410 ounces contained in 5.02 Mt at a grade of 2.5 g/t Au in an Inferred category on the Golden Saddle. At the Arc Zone, the initial resource included 170,470 ounces contained within 4.37 Mt at a grade of 1.21 g/t Au in the inferred category (reported in Underworld Resources New Release UW2010-NR#2 dated January 19, 2010 and the 43-101 report titled "White Gold Property Dawson Range Yukon, Canada" dated March 3, 2010, prepared by Lars Weiershäuser, P.Geo, Marek Nowak, P.Eng and Wayne Barnett, Pr.Sci.Nat. of SRK Consulting (Canada) Inc.) (the "Technical Report"). Kinross purchased Underworld shortly after the initial resource was released in 2010 and explored the property from 2010 - 2012. In 2013, Kinross released the results of a resource estimate on the Golden Saddle zone and reported a resource of 840,000 ounces within 9.79 Mt at a grade of 2.67 g/t Au in an Indicated category, with an additional 125,000 ounces within 2.17 Mt at a grade of 1.8 g/t Au in an Inferred category (reported in Kinross Gold Corp.'s 2016 Mineral Reserves and Resource Statement). Both Underworld's and Kinross' resource estimates are considered historical estimates and the Company is not treating them as current mineral resources. On June 14, 2017, the Company acquired the entities holding the White Gold Property from Kinross. Although the Company believes these sources to be generally reliable, such information is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other inherent limitations and uncertainties. In addition to the Golden Saddle and Arc zones, there are numerous other targets known on the property that warrant follow-up work (for more information see Yukon Assessment Report #'s 095338, 096206, & 096207).
Qualified Person
Unless otherwise indicated, the scientific and technical information contained in this news release has been reviewed and approved by Jodie Gibson, P.Geo, of GroundTruth Exploration Inc. who is a "qualified person" within the meaning of NI 43-101. GroundTruth Exploration Inc. is owned by the spouse of a director of the Company.
About White Gold Corp.
The Company owns a portfolio of 19,438 quartz claims across 30 properties covering over 390,000 hectares representing approximately 40% of the Yukon's White Gold District. Preliminary exploration work has produced several prospective targets. The claim packages are bordered by sizable gold discoveries owned by Goldcorp Inc. and Western Copper and Gold Corporation. The Company has outlined an aggressive exploration plan to further explore its properties. For more information visit www.whitegoldcorp.ca.
