White Gold Corp. provided an exploration update on two large copper-molybdenum porphyry targets on its Pedlar and Hayes properties situated in the southern portion of its 350,000 hectare land package, and located approximately 25 km northeast and 30 km east of Western Copper and Gold Corporation's Casino copper-gold porphyry deposit respectively. The Casino deposit has Measured & Indicated Resources of 7.6 Blbs copper & 14.8 Moz gold and Inferred Resources of 3.1 Blb copper & 6.3 Moz gold and is contiguous to the Company's Betty property.

The Company is primarily targeting similar Casino-style porphyry mineralization on these early-stage projects. These results form part of the Company's 2022 $6 million exploration program on its extensive and underexplored land package in the emerging White Gold District, Yukon, supported by strategic partners including Agnico Eagle Mines Limited and Kinross Gold Corporation. The Bridget porphyry target on the Pedlar property has been known for decades but has seen minimal exploration and no diamond drilling.

The Hayes is a recently identified porphyry target and has seen only soil sampling and limited mapping and prospecting. The soil geochemistry anomalies at both targets have the earmarks of large porphyry systems, with apparent mineralization footprints in the order of several kilometres each, which in combination to their proximity to the Casino deposit, make them very compelling targets warranting further exploration work. The Bridget and recently identified Hayes soil geochemical anomalies represent highly prospective early-stage porphyry targets in an area with several significant existing porphyry deposits that warrant additional exploration.

The Company's immediate goal is to develop a better understanding of the alteration and mineralization system at the targets, followed by diamond drill testing as warranted. Induced polarization - resistivity surveys are required to better define the character of the targets at depth. Additionally, the geochemistry of surface rock samples which were collected during the 2022 field season will be examined in detail, and the samples will be scanned with an ASD Terraspec mineral analyzer to aid in identifying associated alteration mineral assemblages.

The Dawson Range forms an east-southeast trending mountain range which hosts several important mineral deposits and Prospects including the Casino porphyry Copper-Gold deposit in the west. In the southeast near the community of Carmacks, the Minto Mine contains resources of 356 Mlb copper, 189 Koz gold, and 1.7 Moz silver in Indicated Resources and 370 Mlb copper, 207 Koz gold, and 1.9 Moz silver in Inferred Resources (Minto Metals Corp.), and the Carmacks Copper project hosts 652 Mlb copper, 302 Koz gold, 3.8 Moz silver in Measured and Indicated Resources and 38 Mlb copper, 13 Koz gold, and 215 Koz silver in Inferred Resources(6) (Granite Creek Copper Ltd.), both interpreted to represent metamorphosed Cu -Au-Ag porphyry deposits. Porphyry deposits in the Dawson Range can be divided into 2 major ages, Late Triassic (Minto, Carmacks) and Late Cretaceous (Casino, Cash, Revenue).

In addition to porphyry mineralization, epithermal, skarn, and polymetallic to gold-dominant mineralized veins, breccias and fracture zones also occur throughout the Dawson Range. In recent years this area has drawn increased attention and investment from both junior and major mining companies due to its high mineral potential. The Pedlar property was first explored by Silver Standard Mines Ltd. ("Silver Standard") and Asarco Exploration Company of Canada Ltd. ("Asarco") in the early 1970's following the discovery of the Casino porphyry deposit located 25 km to the southwest.

A series of regional silt samples, soil sampling, and geophysical programs by Silver Standard in 1971 and 1972 led to the discovery of a significant Copper-Molybdenum geochemical anomaly, now known as the Bridget target. Since its initial discovery, the Bridget target has seen intermittent exploration by various operators, including Shawn Ryan and Ethos Gold Corp. (now Prospector Metals Corp.).

The limited exploration to date has continued to expand the anomaly's known footprint measuring 3 km NW-SE by 3.5 km NE-SW through soil geochemical sampling, prospecting, mapping, and geophysical surveys. In 2016 White Gold Corp. acquired ownership of the property and has continued to advance the project through soil sampling, geological mapping and prospecting, and in 2018 rotary air blast (RAB) drilling (10 holes totalling 548.6 m).

The RAB holes were short testing to a maximum vertical depth of only 70 m. Hole PEDBRGRAB18-009 intersected two narrow intervals of molybdenum mineralization including 622.3 ppm Mo over 1.5 m from 12.2 m, and 631.9 ppm Mo over 1.5 m from 30.5 m.