White Gold Corp.
TSX VENTURE : WGO

May 15, 2017 08:00 ET

White Gold Corp. Commences 2017 Exploration Program

TORONTO, ONTARIO--(Marketwired - May 15, 2017) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

White Gold Corp. (TSX VENTURE:WGO) (the "Company") is pleased to announce that it has commenced the 2017 exploration program on its portfolio of projects in the White Gold District, Yukon, Canada. The focus of the Company's program is to drill test new and previously defined high priority gold-in-soil trends and to further define and advance its other targets to drill ready status.

Highlights

  • 200 RAB Drill holes (20,000 metres) testing a minimum of 6 target areas on the Loonie, Dime, IND, Nolan and Black Hills properties
  • Exploration activities including soil sampling, geologic mapping/prospecting, drone surveys, DC IP-Resistivity surveys, GT Probe sampling and/or RAB drilling to be conducted on 24 of the Company's 25 properties
  • Airborne DIGHEM surveys on 9 of the Company's properties

Exploration will be conducted on 24 of the Company's 25 properties, with work ranging from RAB drill testing on a minimum of 6 advanced target areas to early stage reconnaissance soil sampling and prospecting. The primary focus of the work and particularly RAB drilling, will be on the Loonie, Dime, IND, Nolan, and Black Hills properties. Additional exploration will be conducted on the Company's other properties with an emphasis on defining drill targets for the 2018 season. Initial work programs will commence and consist of airborne DIGHEM surveys on 9 properties (Nolan, Hunker, IND, Loonie, Toonie, Dime, Black Hills, Pedlar, and Betty) and DC IP-Resistivity surveys (IND, Dime, and Nolan) with RAB drilling initiating on the Loonie and Dime properties in early June.

White Gold Corp's 2017 Exploration Program

Loonie Property

RAB Drilling on the Loonie property will focus on the Lira target, an approximately 75m x 740m, zone of anomalous gold in soils associated with an E-NE trending shear zone(s). Mineralization along the zone is associated with strongly quartz-sericite-clay altered and brecciated felsic orthogenesis with quartz veining, disseminated pyrite, and locally visible gold. Grab samples performed by the Company in the area have returned grades from trace up to 110.1 g/t gold. Historic RAB drilling on the target returned grades from trace up to 20.7 g/t gold, which included 12.2m of 4.93 g/t Au from LOORAB14-01 (see the Company's News Release dated January 23, 2017 for more information). The 2017 drilling program will consist of 25 to 30 RAB drill holes testing over 700m of strike length and up to 100m depth along the Lira trend. Additional exploration to be conducted on the property will included additional soil sampling and GT Probe sampling on the Peso target area.

Dime Property

RAB Drilling on the Dime property will focus on the Gemini target. Historical work on the Gemini target completed by the Company has identified two approximately 325m x 200m, north-northeast trending, gold in soil anomalies with values from trace up to 919 ppb Au that are associated with strongly anomalous arsenic (>100 ppm As). Mineralization in the area is associated with strongly sericite altered meta-sediments and fine grained meta-intrusive rocks with zones of quartz veining and brecciation that appear to be associated with a series of N-NE trending, moderately west dipping, faults (see the Company's New Release dated April 25, 2017 for more information). The 2017 drilling program will consist of 25 to 30 RAB drill holes testing over 350m of strike length and up to 100m depth along both of the Gemini soil anomalies. Additional work on the property will include soil sampling, geologic mapping/prospecting, DC IP-Resistivity surveys and GT Probe sampling on other target areas to advance them to drill ready status.

Initial results for the RAB drilling on the Loonie and Dime property are anticipated by the end of June, 2017.

The Company will provide details on its plans for RAB drilling and additional exploration activities for the IND, Nolan and Black Hills properties in the coming weeks with details on the other properties and targets to follow.

The Company encourages individuals interested in the Company to visit its website (www.whitegoldcorp.ca) to further understand the size and scope of the Company's projects in the White Gold District.

The analytical work for the 2017 program will be performed by Bureau Veritas Commodities Canada Ltd., an internationally recognized analytical services provider, at its Vancouver, British Columbia laboratory. Sample preparation will be carried out at its Whitehorse, Yukon facility. All soil samples will prepared using procedure SS80 (dry at 60 C and sieve 100g at -80 mesh) and analyzed by method AQ201 (aqua regia digestion and ICP-MS analysis). All rock, GT Probe, and RAB samples will be prepared using procedure PRP70-250 (crush, split and pulverize 250 g to 200 mesh) and analyzed by method FA430 (30g fire assay with AAS finish) and AQ200 (0.5g, aqua regia digestion and ICP-MS analysis). Samples containing <10g/t Au will be reanalyzed using method FA530 (30g Fire Assay with gravimetric finish). Metallic-screen analysis may also be utilized if coarse gold mineralization is encounter (FS600).

Jodie Gibson, PGeo, of GroundTruth Exploration Inc. has acted as the qualified person under National Instrument 43-101, and has reviewed and approved the content of this news release. GroundTruth Exploration Inc. is owned by the spouse of a director of the Company. Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource on any of the Company's properties to date, and it is uncertain if further exploration will result in any such target being delineated as a mineral resource.

Ground Truth Exploration Inc., Dawson City, YT, designed and managed all work for the Company. The reported work was completed using industry standard procedures, including a quality assurance/quality control (QA/QC) program consisting of the insertion of certified standards, blanks, and field duplicates into the sample stream. The qualified person detected no significant QA/QC issues during review of the data.

About White Gold Corp.

White Gold Corp. owns a portfolio of 15,258 quartz claims across 25 properties covering approximately 305,440 hectares representing approximately 30% 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 majors. The Company has outlined an aggressive exploration plan to further explore its properties. For more information visit www.whitegoldcorp.ca.

This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the current or historical soil sampling results, future results of operations, performance and achievements of the Company, future exploration activities and programs, including results thereof and advancement of the Company's properties. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by the Company in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include that fact that soil sampling results are preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit, mineral exploration involves a high degree of risk and is highly speculative in nature, few properties that are explored are ultimately developed into producing mines, geological factors, the actual results and timing of current and proposed future exploration programs, changes in project parameters as plans continue to be evaluated, as well as those factors described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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