Mr. David D'Onofrio reports

WHITE GOLD CORP. SETS RECORD & SHAREHOLDER MEETING DATES FOR W2 CRITICAL MINERALS CORP. SPIN-OUT

White Gold Corp. has filed the requisite notice setting the record date and meeting date in respect of an annual and special meeting of shareholders of White Gold. At the meeting, shareholders will be asked to approve, among other things, a special resolution approving the proposed spinout (as defined below).

The record date for the determination of shareholders eligible to attend and vote at the meeting has been set as June 29, 2026, and the meeting will be held on Aug. 11, 2026.

"The setting of these dates mark an important step toward completing the proposed spinout as we continue to advance and execute on our stated milestones, including our recently commenced and largest-ever diamond drill program, the upcoming maiden PEA [preliminary economic assessment] and more, which we believe have the potential to make 2026 a transformational year. The W2 spinout has been designed to unlock the value of our prospective critical mineral projects by creating a dedicated publicly listed vehicle, with shares to be distributed to White Gold shareholders. This will also allow White Gold to increase its focus on advancing our flagship gold project -- one of Canada's highest-grade undeveloped open-pittable resources, which remains open for growth -- and pursue additional discoveries across our district-scale land package in the Yukon's prolific White Gold district," stated David D'Onofrio, chief executive officer of White Gold.

The spinout

Further to its press release dated May 5, 2026, White Gold intends to undertake a reorganization transaction, whereby it will, among other things, spin out its portfolio of copper, molybdenum, tungsten and other critical mineral properties located in west-central Yukon into a wholly owned subsidiary, W2 Critical Minerals Corp. (Spinco). The spinout will be completed by way of a plan of arrangement under the Business Corporations Act (Ontario) and subject to the terms and conditions of the arrangement agreement entered into by the company and Spinco.

Following completion of the spinout, the critical mineral assets to be held by Spinco will include six properties: the Bridget property, the Loonie property, the Wolf property, the Hunker property, the Hayes property and the Toonie property. These properties include several large-scale critical minerals targets prospective for copper, molybdenum, tungsten, antimony, zinc and bismuth. The spinout is designed to unlock the value of White Gold's non-gold project portfolio.

Pursuant to the terms of the arrangement agreement, the company will, among other things, transfer its interests in the critical minerals assets to Spinco in exchange for common shares of Spinco and distribute Spinco shares to the holders of common shares of the company on the basis of one Spinco share for every five White Gold shares held by each shareholder immediately prior to the effective date of the spinout. There will be no change in the shareholders' holdings in the company as a result of the spinout. Following completion of the spinout, the company is expected to hold an approximately 19-per-cent ownership interest in Spinco.

The spinout will be subject to regulatory approval, including the approval of the TSX Venture Exchange and court approval, as well as approval by not less than two-thirds of the votes cast at the meeting. Spinco intends to apply to list the Spinco shares on the TSX-V shortly following completion of the spinout. Readers are cautioned that, while Spinco intends to pursue a listing on the TSX-V, an application for listing has not been submitted and completion of a listing is subject to regulatory approvals and the satisfaction of all of the applicable listing requirements of the TSX-V. There can be no assurance that a listing will be completed, and Spinco may elect not to proceed with a listing at any time in its sole discretion.

The Spinco financing

In connection with the spinout, Spinco intends to complete a private placement of up to 20 million subscription receipts of Spinco at a price of 25 cents per subscription receipt for gross proceeds of up to $5-million. On closing of the spinout, the subscription receipts will automatically convert into Spinco shares. Pending the closing of the spinout, the proceeds from the sale of the subscription receipts will be held in escrow by a trust company and released to Spinco on closing of the spinout. Completion of the Spinco financing is a condition of the completion of the spinout and Spinco intends to use the net proceeds of the Spinco financing for exploration and advancement of the critical mineral assets as well as general corporate and working capital purposes.

Additional details relating to the spinout, Spinco, the Spinco financing and other meeting matters will be included in the management information circular in respect of the meeting to be filed and delivered to shareholders in connection with the meeting. Copies of the management information circular and related meeting materials will also be filed with the applicable Canadian securities regulators and available on the company's profile on SEDAR+.

Critical minerals portfolio overview

Regional setting -- the Dawson Range and critical mineral belt

The Dawson Range is an east-southeast-trending mountain belt that hosts numerous significant mineral deposits and prospects along the Minto-Carmacks copper belt, including the Casino copper-gold porphyry deposit in the west owned by Western Copper and Gold. In the southeast near the community of Carmacks, the Minto mine owned by Selkirk Copper Mines Inc. contains indicated resources of 12,588,000 million tonnes grading 1.203 per cent copper and 0.461 gram per tonne gold and 1,728 ounces silver for 333.8 million pounds copper, 186,600ounces gold, and 1,728,000 ounces silver and inferred resources of 23,658,000 tonnes grading 1.048 per cent Cu, 0.387 g/t Au and 3.9 g/t Ag for 546.8 million pounds copper, 294,700 ounces gold and 2,968.1 ounces silver. It also hosts the Carmacks copper project, which contains measured and indicated resources of 36.25 million tonnes grading 0.81 per cent Cu, 3.25 g/t Ag and 0.26 g/t Au for 651 million pounds of copper, 3.79 million ounces silver and 302,000 ounces of gold, owned by Cascadia Minerals Ltd. Both deposits are interpreted as metamorphosed copper-gold-silver porphyry systems. Porphyry deposits in the Dawson Range occur in two principal age groups: Late Triassic (for example, Minto and Carmacks) and Late Cretaceous (for example, Casino, Cash and Revenue). In addition to porphyry-style mineralization, the Dawson Range also hosts epithermal, skarn and polymetallic to gold-dominant veins, breccias and fracture zones. Owing to this diverse and prospective mineral endowment, the region has attracted increasing attention and investment in recent years from both junior and major mining companies.

The critical mineral assets to be transferred to SpinCo in connection with the spinout include six properties that collectively represent a pipeline of advanced to early-stage critical mineral exploration opportunities across multiple metallogenic belts in Yukon.

Bridget property -- Bridget target (molybdenum/copper/tungsten/bismuth/silver): a large untested porphyry system in the White Gold district

The Bridget target is a district-scale molybdenum-copper porphyry anomaly spanning three kilometres by 3.5 kilometres that has never been diamond drill tested. The soil geochemical footprint of the anomaly is characterized by molybdenum-in-soil values as high as 321.9 parts per million Mo, including 278.9 ppm Mo, 265.4 ppm Mo, 263.5 ppm Mo, 257.2 ppm Mo and 253.3 ppm Mo, with over 400 additional samples returning values greater than 20 ppm Mo. Across the target, anomalous copper-in-soil values exceeding 100 ppm Cu are common with the most significant enrichment occurring at the core with values as high as 710.1 ppm Cu, including 662.6 ppm Cu, 594.7 ppm Cu, 492.9 ppm Cu and 406 ppm Cu observed over a roughly 900-metre-by-900-metre area. Other notably enriched critical minerals include tungsten, with the highest concentrations observed in the northern half of the target area, where soil sampling has yielded values up to 101 ppm W -- a critical mineral of growing strategic importance. Secondary metals including bismuth, silver, lead and zinc are concentrated along two major crustal-scale dextral transpressional faults that transect the margins of the system, representing a peripheral epithermal expression of the porphyry system.

Follow-up prospecting has confirmed bedrock mineralization, with molybdenite directly identified in quartz veins across the target. Rock samples define a coherent porphyry-style metal zonation: a copper/molybdenum/bismuth core characterized by molybdenum-dominant quartz veins returning up to 3,650 ppm Mo, including 3,060 ppm Mo and 2,430 ppm Mo in mineralized gneisses and schists, pyrite-bearing white quartz veins returning 532 ppm Mo and 234 ppm Cu, and trench samples up to 1,854 ppm Cu. Bismuth reaches 2,000 ppm in altered gneiss with 1,571 ppm Mo, and 836 ppm Bi in a quartz vein cutting hornblende gneiss. The peripheral zones carry the distal metal signature typical of large porphyry systems: a quartz-galena vein in orthogneiss returned 30.4 ppm Ag and 3,861 ppm Pb while sampling along the margins of a rhyolite dike returned 560 ppm W alongside elevated silver and lead.

Two rounds of induced polarization geophysics surveys, completed in 2023 and 2025, have moved Bridget from a geochemical anomaly into a drill-ready target. The 2023 survey identified five chargeability anomalies beneath the copper/molybdenum/bismuth core, with the most compelling centred at depths of at least 250 m, more than 180 m deeper than the maximum depth reached by the company's 2018 shallow RAB (rotary air-blast) program. Those holes, limited to 70 m vertical depth (with several failing to reach target depth), still intersected molybdenum mineralization: hole PEDBRGRAB18-009 returned 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. A 2025 10-line gradient IP (induced polarization) survey supplemented by a single dipole-dipole survey across the centre of the anomaly has confirmed the results of the 2023 survey while adding additional targeting opportunities in the northwestern and southeastern margins of the anomaly.

The Bridget target sits within the Dawson Range mineral belt, transected by the Sixtymile River fault and Big Creek fault, the same fault corridors associated with major porphyry and epithermal systems in the region. An initial technical report on this property will be filed in connection with the spinout.

Loonie property -- Guilder target: a 3.5-kilometre anomaly interpreted as the extension of a copper-gold prospect now supported with IP geophysics

The Guilder target occupies the north-central portion of the Loonie property, approximately 50 km south of Dawson City, and is interpreted as the northwestern strike extension of a copper-gold prospect. The connection is supported by a continuous 3.5-kilometre-long, arcuate copper/molybdenum/gold/zinc/lead soil anomaly that trends northwest-southeast across both properties and displays a classic metal zonation: gold dominant at the northwestern end, transitioning to copper dominant, with lead and zinc forming a peripheral halo around the copper core.

Prospecting has uncovered malachite and chalcocite mineralization hosted by quartz-feldspar-biotite schist near an augen gneiss contact. Rock samples from this showing returned 1,115 ppm Cu and 6.1 g/t Ag, confirming that meaningful copper and silver grades exist at surface.

In 2025, White Gold completed a 13-line gradient IP survey with a single dipole-dipole line across the Guilder target. Preliminary results have confirmed the presence of a central chargeability anomaly and a second anomalous zone to the south, suggesting subsurface conductors are present beneath the surface copper geochemistry. Interpretation is continuing and will be used to define priority drill targets. The Guilder target is an early-stage, drill-ready target.

Wolf property -- Aries and Taurus targets

The Aries target on the Wolf property is an interpreted porphyry system that is characterized by a central zone of copper and molybdenum anomalies, surrounded by a large peripheral zone enriched in bismuth, arsenic, lead and zinc. This forms a footprint measuring approximately four km in length (northeast-southwest) and three km in width (northwest-southeast). To the northeast, the Aries target transitions from a gold-dominant system into a potential porphyry system. This area's molybdenum-in-soil values reach as high as 51.4 ppm, with the bulk of the anomaly showing values above five ppm. Copper-in-soil values peak at 923.9 ppm, with notable results such as 637.8 ppm, 630.8 ppm and 600.6 ppm Cu, located near areas enriched in arsenic and bismuth. Previous drilling on the property has been gold focused and the property remains largely untested and prospective for several critical minerals including Mo and Cu.

The Wolf property is located east of the White River, approximately 120 km south-southwest of Dawson City and 35 km west of the White Gold project. Two main target areas have been identified on the property, the Aries and Taurus targets. The area is predominantly underlain by hornblende-biotite diorite intruded by medium-grained and megacrystic potassium-feldspar granites. These intrusions are associated with widespread biotite and potassic alteration, which are key indicators of potential porphyry mineralization.

To the north and northeast, the property is underlain by Late Cretaceous Carmacks volcanic units, including andesite and basalt flows, and siliciclastic basal conglomerates. Copper/molybdenum enrichment appears to be localized along the contact between these volcanic units and the adjacent granites while gold mineralization is concentrated in the southwestern part of the property (Taurus target) in shreddy biotite and potassium-spar altered hornblende-biotite diorites. The Taurus target features a gold-in-soil anomaly that spans approximately two km long by 0.5 km wide, with gold values reaching 358 parts pe billion Au. The anomaly has an arcuate shape, trending east-west in the southwest and curving northeast-southwest to the east. GT Probe bedrock sampling returned gold values up to 1.22 g/t Au, with several samples exceeding 0.5 g/t Au. In 2023, RAB drilling of the target returned gold values of up to 0.81 g/t Au over 15.24 m from 19.81 m (hole WLFTRS23RAB002), including 6.55 g/t Au over 1.52 m, along with 0.32 g/t Au over 30.47 m) from 13.72 m in hole WLFTRS23RAB002.

Hunker property -- Boxcar, Bum and Mint Pup targets (copper/silver/gold/lead/zinc): three distinct copper occurrences in the heart of the Klondike

Situated in the historically productive Klondike goldfields roughly 25 km southeast of Dawson City, the northern portion of the Hunker property hosts three separate copper occurrences -- the Boxcar, Bum and Mint Pup targets -- that together define a district-scale copper-silver system that has seen abundant surface sampling but almost no systematic follow-up exploration.

The Boxcar target is interpreted as a Besshi-type volcanogenic massive sulphide (VMS) system hosted within a northwest-trending fault zone. Trenching has encountered significant multimetal mineralization, including up to: 33.19 g/t Ag, 2.32 per cent Cu, 1.78 per cent Pb and 0.30 per cent Zn over 0.5 m and 221.99 g/t Ag, 3.76 per cent Cu, 14.4 per cent Pb and 0.24 per cent Zn over 1.0 m. A 2021 prospecting sample from the fault zone returned copper exceeding 10,000 ppm alongside 8,937 ppb Pb, 5,279 ppm Zn, and anomalous cobalt and silver, associated with malachite, azurite, copper wad, goethite, hematite and suspected cassiterite -- a mineralogical assemblage pointing to a well-preserved, near-surface system that warrants structural and geophysical follow-up.

The Mint Pup target is the largest of the three primary anomalies: a broad copper-gold soil anomaly measuring approximately 2.4 km by 3.0 km straddling the ridges between Gold Bottom Creek and Hunker Creek, with gold-in-soil values up to 1,096 ppb Au and copper in soil up to 475.9 ppm Cu. GT Probe bedrock sampling returned values to 1.195 ppm Au, with a 90-metre section of 19 consecutive samples all grading above 0.02 ppm Au.

The Hunker property sits within one of the more productive placer gold drainages in the Klondike, where Hunker Creek and its tributaries -- including Gold Bottom Creek -- have produced more than 1.8 million crude ounces of gold since 1897 (van Loon, 2019). The diversity of copper, silver, lead, zinc and gold mineralization styles across the Boxcar, Bum and Mint Pup targets points to a geochemically complex, multielement system that has never been systematically explored at depth.

Hayes property -- Isaac target (copper/molybdenum/silver/zinc/lead/bismuth/tungsten/lithium): porphyry geochemical zonation across a 3.3-kilometre footprint; eight drill targets identified

The Isaac target sits 38 km east of the Casino copper-gold deposit and is associated with Late Cretaceous Prospector Mountain suite intrusives. Soil sampling across greater than 1,500 samples defines a geochemically zoned multielement anomaly spanning approximately 3.3 km east-west by 2.5 km north-south, with a bismuth/arsenic/copper/molybdenum-enriched core of roughly 1,200 m by 650 m surrounded by a broad halo of anomalous silver, lead and zinc.

Anomalous copper-in-soil values occur in the southern portion of the core, and a relatively small area of anomalous molybdenum occurs near the core's northern margin. Within the peripheral halo, silver-in-soil values range from one ppm Ag to as high as 16.9 ppm Ag, including 12.3 ppm Ag, 12.2 ppm Ag, 11 ppm Ag, 10.2 ppm Ag and 9.8 ppm Ag, while values greater than three ppm Ag are very common. Also, within this halo, lead-in-soil values occur as high as 3,310.4 ppb Pb, including 957.5 ppm Pb, 832.8 ppb Pb, 748 ppm Pb and 689.1 ppb Pb, with associated zinc-in-soil values as high as 1,747 ppb Zn, including 1,360 ppm Zn, 1,137 ppm Zn, 941 ppm Zn, 763 ppm Zn, 729 ppm Zn and 713 ppm Zn.

Prospecting across the target in 2022 returned chalcopyrite and galena in direct association across multiple rock types, confirming primary sulphide mineralization at surface. The strongest 2022 sample, from chlorite-altered brecciated biotite-feldspar-quartz gneiss with disseminated chalcopyrite/galena in a zone of epidote veining, returned 106 ppm Mo, 731 ppm Cu, 27.3 ppm Ag, 1,048 ppm Pb and 3,100 ppm Zn. Other notable 2022 results include a pyrite/galena/ chalcopyrite mineralized silicified rhyolite returning 20.6 ppm Ag and 2,625 ppm Pb and a silicified felsic dike with fresh chalcopyrite returning 814 ppm Cu and 16.7 ppm Ag. Lithium is elevated broadly across the target, with multiple rock samples returning values exceeding 800 ppm Li, including two samples returning overlimits of greater than 2,000 ppm Li hosted in diorite, gneiss and rhyolite. Follow-up gridded rock sampling across 88 samples in 2024 validated the 2022 results and returned values up to 67 ppm Mo from a diorite intrusion, 459 ppm Cu, 1,954 ppm Zn, 3,778 ppb Ag, 345 ppm Bi and 117 ppm W. Stockwork veining is described across multiple stations and fluorite has been identified in silicified rhyolite. Hyperspectral analysis of 2022 rock samples identified phyllic and potassic alteration in the core with propylitic overprinting on the southern margins.

In 2023, two deep-penetrating IP-resistivity lines delineated eight discrete chargeability anomalies beneath the target. The Isaac target has never been drilled.

Toonie property -- Deux target (gold/copper/zinc/molybdenum/silver): RAB drilling has confirmed broad multielement mineralization in all four holes; prospective porphyry signatures identified

The Toonie property lies approximately 45 km south-southeast of Dawson City and is predominantly underlain by Late Cretaceous Carmacks volcanic rocks, a package that has increasingly been recognized as a host for copper and polymetallic mineralization across the region. Exploration on the Deux target has progressed through two systematic phases.

In 2018, initial GT Probe sampling outlined a broad but coherent, low-level multielement surface anomaly (0.258 g/t Au, 4.6 g/t Ag, 412 ppm Cu, 1,663 ppm Zn, 843 ppm Pb and 71 ppm Mo), spatially associated with resistivity boundaries and interpreted structural controls in the volcanic package. A follow-up 2023 RAB drilling program confirmed widespread, shallow multielement mineralization in all four holes. Hole TOODEU23RAB001 returned 24.4 m of 0.235 g/t Au and 525.4 ppm Cu from surface, including 6.1 m grading 0.327 g/t Au and 598.3 ppm Cu, plus a separate 4.57 m interval with 3,525 ppm Zn. Hole TOODEU23RAB003 intersected 76.2 m averaging 386 ppm Cu, with individual samples up to 676.4 ppm Cu and 2,368 ppm Zn, demonstrating the scale of the copper-zinc system.

Quartz veining, sericite and chlorite alteration, and oxidized fractures are most common in intervals carrying the strongest copper and zinc values. Geochemical work on the Carmacks volcanic units indicates porphyry-style prospectivity and a zoned metal pattern, with a gold/molybdenum/copper core and more distal zinc/lead/silver, consistent with a buried intrusion-related system. Although gold remains the primary focus, the broad copper/zinc intervals provide a strong critical minerals rationale for including Toonie in the spinout as an early-stage, drill-ready gold/copper/zinc target.

Qualified person

Steven Walsh, PGeo, senior 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.

About White Gold Corp.

The company owns a portfolio of 15,364 quartz claims across 21 properties covering 305,102 hectares (3,051 square kilometres), representing approximately 40 per cent of Yukon's emerging White Gold district. The company's flagship White Gold project hosts four near-surface gold deposits, which collectively contain resource estimate of 1,732,300 ounces of gold in indicated resources (35.2 million tonnes grading 1.53 grams per tonne gold) and 1,265,900 ounces of gold in inferred resources (32.2 million tonnes grading 1.22 g/t Au) (see the company's news release dated Oct. 6, 2025). 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 Talamore Mining (formerly Fuerte Metals), with measured and indicated resources of 80.2 million tonnes grading 1.15 g/t Au for 2.96 million ounces of gold and inferred resources of 21.2 million tonnes grading 1.17 g/t Au for 800,000 ounces gold, and Western Copper and Gold Corp.'s Casino project, which has measured and indicated resources of 2,490.7 million tonnes grading 0.18 g/t Au and 0.14 per cent Cu for 14.8 million ounces of gold and 7.6 billion pounds of copper and inferred resources of 1,412.5 million tonnes grading 0.14 g/t Au and 0.10 per cent Cu for 6.3 million ounces of gold and 3.1 billion pounds of copper.

We seek Safe Harbor.