White Gold Corp. Files Circular and Technical Report for W2 Critical Minerals Spin-Out

TSXV: WGO | OTCQX: WHGOF | FSE: 29W

Overview

White Gold Corp. (TSXV: WGO) (OTCQX: WHGOF) (FSE: 29W) announced on July 21, 2026 that it has filed the management information circular and related meeting materials for its annual general and special meeting of shareholders to be held on August 11, 2026. The meeting will ask shareholders to consider and, if deemed advisable, pass a special resolution approving a previously announced spin-out transaction whereby the Company intends to 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"), to be distributed to shareholders through a dividend-in-kind.

Concurrently with the filing of the meeting materials, the Company also announced the filing of an independent NI 43-101 technical report in respect of the Bridget Property, which the Company states will be considered material to Spinco. The technical report, titled "NI 43-101 Technical Report on the Bridget Property in the Dawson Range Copper - Gold Belt, Casino area, Yukon, Canada," was prepared by Jean Pautler, P.Geo., of JP Exploration Services Inc., with an effective date and report date of May 15, 2026.

Key Highlights

• The annual general and special meeting is scheduled for August 11, 2026, at which shareholders will be asked to vote on the Arrangement Resolution approving the spin-out.
• The spin-out is structured as a plan of arrangement under the Business Corporations Act (Ontario), pursuant to an arrangement agreement between the Company and Spinco dated May 5, 2026.
• Shareholders will receive one (1) Spinco share for every five (5) common shares of White Gold (WGO Shares) held immediately prior to the effective date of the spin-out, distributed as a dividend-in-kind.
• There will be no change in shareholders' holdings in the Company as a result of the spin-out.
• Following completion of the spin-out, the Company is expected to hold an approximate 19.9% ownership interest in Spinco.
• Approval requires not less than two-thirds of the votes cast by shareholders at the meeting, as well as regulatory approval including TSXV approval and court approval.
• Spinco intends to apply to list its shares on the TSXV shortly following completion of the spin-out, subject to regulatory approvals and satisfaction of all applicable listing requirements.
• 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, prospective for copper (Cu), molybdenum (Mo), tungsten (W), antimony (Sb), zinc (Zn), and bismuth (Bi).
• The board of directors unanimously recommends that shareholders vote FOR the Arrangement Resolution.
• The Company engaged Equity Catalyst Partners for a term of six (6) months to provide marketing services designed to enhance White Gold's investor visibility and awareness.

Strategic and Operational Context

According to the Company, the board believes the spin-out is in the best interests of the Company. The board stated the arrangement will provide shareholders with direct exposure to a portfolio of critical mineral exploration projects to be advanced by a dedicated team and resources, which portfolio is expected to benefit from a supportive policy environment while providing shareholders with focused exposure to commodities that are increasingly central to Canada's long-term economic and supply chain strategies.

Chief Executive Officer David D'Onofrio stated: "We are very excited to be advancing the proposed W2 Spin-Out 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, as we continue to advance and execute on our stated milestones for 2026. With three drills now turning on our largest ever diamond drill program across our flagship White Gold project, which ranks among Canada's highest-grade undeveloped open-pit gold resources, designed to pursue continued resource growth and make more new discoveries, the upcoming maiden Preliminary Economic Assessment, and more, we believe 2026 has the potential to be a transformational year for White Gold."

Bridget Property Details

• Size: 15,500 hectares, 750 claims
• Location: Dawson Range copper-gold belt of west-central Yukon, approximately 25 km northeast of Casino Mining Corporation's Casino porphyry deposit
• Target type: Intrusion-related copper-molybdenum target
• Exploration has delineated a northeast-trending 4.3 km by 1.4 km molybdenum soil anomaly (mostly at or above 20 ppm Mo), including a 2.0 km by 0.75 km copper anomaly (mostly at or above 150 ppm Cu) at its southwest end, with peak values of 710.1 ppm Cu and 321.9 ppm Mo
• A 2018 rotary air blast drill program (548.6m in ten holes) returned up to 632 ppm Mo and 1,054 ppm Cu, with holes averaging only 55m and reaching a maximum depth of 83.8m
• Subsequent 2023 and 2025 induced polarization surveys identified priority chargeability anomalies at target depths ranging from approximately 130m to 330m below surface
• Additional diamond drilling is recommended to test the previously identified IP targets, according to the company

What to Watch Next

• Annual general and special meeting scheduled for August 11, 2026, at which shareholders are expected to vote on the Arrangement Resolution
• The Company stated it will notify shareholders of the record date and payment date via news release once all conditions to closing of the spin-out have been satisfied
• Spinco intends to apply to list its shares on the TSXV shortly following completion of the spin-out, subject to regulatory approvals and applicable listing requirements (the Company cautions there can be no assurance that a listing will be completed)
• The Company referenced an upcoming maiden Preliminary Economic Assessment for its flagship White Gold project as an anticipated 2026 milestone

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 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 October 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 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, 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 1,412.5 Mt grading 0.14 g/t Au, 0.10% Cu for 6.3 million ounces of gold and 3.1 billion pounds of copper. For more information visit www.whitegoldcorp.ca.

Read full press release here.

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