White Gold Corp. Announces Fully Funded 2020 Exploration Program on its White Gold District Projects, Yukon

White Gold Corp. [TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W] is pleased to announce its fully funded 2020 exploration program on its extensive 422,000+ hectare land package, representing over 40% of the emerging White Gold District in Yukon, Canada. The 2020 exploration program which is budgeted at approximately $4.0 Million has been designed to further test existing targets and recent high grade discoveries on the Company’s White Gold, Hen, and JP Ross properties, as well as to identify and advance other targets on its extensive regional land package. Backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC), the 2020 exploration program is scheduled to commence in the coming weeks.

A district scale map outlining the Company’s planned 2020 exploration work areas and other images accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

“2020 is expected to be another exciting year for White Gold as we diamond drill test recent discoveries at the Ryan’s Surprise and Titan targets, as well as advance other high-priority targets across our expansive land package. Extensive review and analysis performed in the off-season has also provided new interpretations on several projects which we are excited to test. We will also continue to develop a better understanding of the geological and structural framework of our targets for follow up drill testing when ready,” stated Terry Brace, Vice President of Exploration.

Highlights Include:

• Ryan’s Surprise target (along strike with the Golden Saddle Deposit): 1,500 m diamond drill program to test for strike and down-dip extensions of mineralization encountered with 2019 diamond drilling.
• Titan target: 1,500 m diamond drill program to test the extents of high-grade mineralization encountered in 2019 rotary air blast (RAB) drilling which included 72.81 g/t Au over 6.09 m from 10.67 m depth, within a 32 m zone of mineralization.
• Approximately 25 RAB holes will be drilled to test high-priority targets on the White Gold, Hen and JP Ross properties.
• Mechanical trenching will be carried out on multiple targets on the JP Ross property to collect key structural data to aid in ongoing interpretations and future drill planning.
• Extensive regional exploration work on other properties will include geologic mapping and prospecting, soil sampling, GT probe sampling, ultra high-resolution drone imagery, and ground magnetics and VLF surveying on the Betty, Nolan, Bonanza and Tea properties.
• A webinar to provide additional information on the Company’s 2020 exploration plan will take place on Thursday, May 28th, 2020, at 1 p.m. ET (10 a.m. PT). Details below.

White Gold Property Program

The White Gold property hosts the Company’s flagship Golden Saddle & Arc deposits which have a current mineral resource of 1,039,600 gold ounces indicated at 2.26 g/t Au and 508,700 gold ounces inferred at 1.48 g/t Au. Planned 2020 exploration work on the White Gold property includes 1,500 m of diamond drilling at the Ryan’s Surprise (“Ryan’s”) target to test for strike and down-dip extensions of mineralization encountered in 2019, as well as 8 RAB drill holes on high priority targets elsewhere on the property.

The Ryan’s target is located approximately 2 km west of the Golden Saddle deposit and is associated with a large (> 500 m long) gold-in-soil anomaly with values ranging from trace to 1,576 ppb Au. The area has been drill-tested by several companies including Underworld Resources Inc. (2008), Kinross Gold Corporation (2011) and the Company (2018-2019) for a combined total of 15 diamond drill holes (3,152m) and 4 RC holes (682m) and remains open in multiple directions.

Kinross’ diamond drill hole WGRS11D0003 located in the central part of Ryan’s returned 6.33 g/t Au over 6.56 m from 159.44 m downhole, and subsequent exploration drilling by the Company has focused on this general area with holes drilled primarily to the south. A revised geological interpretation in 2019 indicated that the mineralized zone may strike west-southwest and dip steeply to the south-southeast, and the two diamond drill holes drilled to the north to test this interpretation both intersected mineralization. Hole WHTRS19D012 intersected 2.85 g/t Au over 4.14 m from 142.22 m downhole and 2.07 g/t over 21.0 m from 154.00 m downhole, including 3.55 g/t Au over 8.42 m. This latter higher grade zone appears to correlate with a mineralized zone in hole WHTRYN18RC0002 which returned 5.02 g/t Au over 13.72 m from 121.92m downhole, indicating a steep (70°) southerly dip. Hole WHTRS19D0012 also intersected a second mineralized zone higher up the hole in the hanging wall which returned 2.66 g/t Au over 11.00 m from 93.0 m downhole. This hanging wall mineralization may represent a subparallel zone which to date has only been tested by this single hole. The close proximity of Ryan’s to existing mineral resources at Golden Saddle and Arc makes it a strategic target for potential future advancement of these projects.

Hen Property Program

The Titan target is located on the Hen property approximately 25 km northeast of the Golden Saddle and Arc deposits. The Hen property is situated within a prolific placer mining camp where abundant coarse placer gold has been recovered from creek gravels on North Henderson Creek immediately east of the Titan.

The Titan target shows two distinct gold-in-soil anomaly trends along the western (NNW trend) and southern (NE trend) margins of a circular magnetic low with a diameter of approximately 600 m. Six discrete magnetic high features measuring from 100 m to 325 m long lie within the magnetic low. In 2019 soil sampling in the southwestern part of the target area returned a high of 113 g/t Au, which is the highest value ever recorded in the Company’s 400,000+ soil sample database. Rock grab samples from shallow pits in the same area contained fine-grained visible gold and returned assays of 113 g/t Au, 497 g/t Au, and 605 g/t Au. Ground geophysical surveys show that the mineralization is associated with a resistivity low, chargeability high, and magnetic high. In late 2019, the Company drilled 3 RAB holes totalling 221 m to test this surface mineralization. Hole HENTTN19RAB-002 intersected a high-grade mineralized zone which returned 72.81 g/t Au over 6.09 m from 10.67 m downhole including 136.36 g/t Au over 3.05 m within a broader zone of mineralization grading 14.80 g/t Au over 32.00 m. The high-grade interval occurs at the top of the broader zone and currently it is unclear if mineralization noted below the high-grade interval is in-situ or potentially cross-contaminated. However, the anomalous gold assays do correspond with a resistivity low and high magnetic susceptibility measurements to approximately 40 m depth, indicating that the mineralization may be in place.

Based on available data, gold mineralization at Titan is currently interpreted to occur along a discrete high-grade, shallowly north-plunging zone along a northwest-striking and northeast-dipping sheared contact between an upper mafic to ultramafic unit and lower metasedimentary units. Gold mineralization correlates with elevated Bi-Cu-Fe-P+/-U and is associated with strong shearing, semi-massive to massive magnetite, calc-silicate alteration, and fine-grained visible gold within the mafic to ultramafic units.

The planned 2020 drill program consists of 1,500m of diamond drilling focused primarily along the NNW-striking gold-in-soil anomaly which extends from the high-grade intercept in hole HENTTN19RAB-002. Additionally, 7 RAB holes will be drilled to test similar north-trending magnetic high features within the magnetic low, as well as the separate northeast-striking gold-in-soil anomaly along the southern margin of the magnetic low feature.

JP Ross Property Program

The road accessible JP Ross property located approximately 35 km north east of the Golden Saddle & Arc deposits and contiguous to the Hen property where the Titan discovery is located, and hosts multiple gold trends covering an area measuring approximately 15 km x 15 km. A significant component of the 2020 exploration work on the JP Ross property consists of mechanical trenching on a number of existing targets highlighted by 2019 results from soil geochemistry, GT probe samples, VLF surveys, RAB drilling, and geological and structural interpretations. Specific trenching targets include Sabotage, Stagefright, North Frenzy and Vertigo. The primary goal of this work is to collect key structural data on mineralized veins, shear zones, faults, etc. which will aid in ongoing detailed interpretations and planning of future drilling. A total of 8 RAB holes are also planned to test existing targets on the property with final hole locations based on trenching results in conjunction with other exploration results. Additional information on the specific targets and exploration work will be released in due course.

The Regional Program

The 2020 regional exploration program will focus on high priority targets that have been identified in 2019 and prior seasons, and will include soil sampling, GT Probe sampling and ground magnetic and VLF surveys. Additional exploration activities will include geological mapping and prospecting, ultra high-resolution drone imagery in select key areas and a thorough digital compilation of all existing exploration data. The regional exploration program will be conducted across multiple properties and is anticipated to include exploration work on the following properties:

Betty Property

The Betty property is located 65 km southeast of the Golden Saddle and Arc deposits and covers the eastern extension of the Coffee Creek Fault which hosts the Coffee gold deposit owned by Newmont Corporation. Early exploration on the property from 2010-2013 was carried out by Ethos Gold Corp. and included 61 shallow RC holes totalling 7,132 m that mainly tested intrusion-hosted gold ± silver and base metal mineralization in the southeastern part of the property. More recent drilling conducted by Centerra Gold Inc. in 2014 (16 RAB holes totalling 374.9 m) and the Company in 2017–2018 (28 RAB holes totalling 1,827 m) has focused on geochemical targets further north on the property. This area is underlain by metamorphic rocks that are structurally cross-cut by splays of the Coffee Creek Fault. Encouraging results from the Company’s previous campaigns include 1.08 g/t Au over 50.29 m from 4.57 m in hole BETFRDRAB18-002 on the Berry Ford target, with the zone remaining open in all directions.

Planned exploration on the Betty property in 2020 includes a detailed structural and magnetic lineament interpretation utilizing magnetic and Lidar data which is expected to guide ongoing future exploration. Infill soil sampling and magnetic and VLF surveys will also be carried out in high priority areas of the property, with a goal of identifying and refining drill targets for the 2021 exploration season.

Nolan Property

The Nolan property is located 50 km west of Dawson City and covers multiple placer gold-bearing creeks. Numerous gold-in-soil anomalies occur in the northern (Cali, Nine, Nine SW and Sixty South), central (Boucher) and southern (Mount Hart) parts of the property.

The Cali target forms a 4 km long northeast trending gold-in-soil anomaly with values ranging from trace up to 516 ppb Au which is associated with anomalous Sb-As±Ag-Pb. The anomaly occurs along an interpreted northeast striking splay of the Sixty Mile-Pika Fault which separates mafic gneisses in the southeast from quartzites to the northwest. In 2017 the Company drilled 22 short RAB holes totaling 1,386.82 m which tested the target only to a maximum depth of 50 m.

In the Mount Hart area several significant gold-in-soil anomalies have been identified, including Hart South which forms a 2,000 m by 400 m trend with soil values ranging up to 539 ppb Au, and Hart  East which measures 2,500 m by 900 m with soil values ranging up to 399 ppb Au. A series of hornblende diorite plugs intrude locally strongly potasically-altered gneiss in the target area and the geochemical signature points to a porphyry copper target.

Planned work in 2020 includes infill 25 m-spaced soil sampling and ground magnetics and VLF surveying over the Mount Hart target, as well as ground magnetics and VLF over the Cali, Nine, Nine SW and Sixty South targets in the northern part of the property.

Bonanza Property

The Bonanza property is located 10 km south of Dawson City immediately east of Bonanza Creek, one of the richest placer gold creeks in the world. The claims adjoin Klondike Gold Corp.’s Eldorado property to the east and south. Exploration work carried out on the Bonanza property to date includes geological mapping, 50 m-spaced soil sampling (3,765 samples), GT probe sampling (300 samples), 250 line km of airborne DIGHEM geophysical surveying, and 5 RAB holes totaling 444.99m drilled by the Company in 2018. A favourable geological contact between the Klondike Schist to the north and the Snowcap Assemblage to the south extends through the southern portion of the property, and the geophysical surveys have outlined a pronounced north-trending magnetic low lineament and corresponding DIGHEM resistivity low which extends through the property and may represent a fault structure. Several gold-in-soil anomalies have also been identified in the southern and northwestern portions of the property.

Planned exploration work in 2020 includes infill soil sampling at 25 m spacings on several of the existing gold-in-soil anomalies, as well as ground magnetic and VLF surveys. This work will provide greater resolution for ongoing structural interpretations and target definition.

Tea Property

The Tea property is located 50 km south of the Golden Saddle and Arc deposits and is strategically located 10 km south of Newmont Corporation’s Coffee project and 10 km west of Western Copper & Gold Corporation’s Casino project. The Tea property covers 17 km of favourable geology underlain by prospective rocks of the Klondike Schist and Snowcap Assemblage, with potential for hosting orogenic gold mineralization. The Tea property has seen very limited previous exploration, and planned work for 2020 includes first-pass ridge and spur soil sampling designed to identify favourable areas for future follow-up exploration.

  • All drill hole intercepts reported herein are core widths. Currently there is insufficient data to estimate true widths.

Corporate Update Webinar

White Gold Corp is inviting interested parties to join David D’Onofrio – CEO, Shawn Ryan – Chief Technical Advisor and Terry Brace – VP of Exploration, for a webinar to provide further detail on its fully funded 2020 exploration program on its White Gold District Projects, Yukon.

The White Gold Corp webinar will take place on Thursday, May 28th, 2020, at 1 p.m. ET (10 a.m. PT). The Management Team will be available to answer questions following the presentation.

Live webinar registration : https://webinars.6ix.com/6ix/White-Gold-Exploration-2020

Dial-in Number
1 (312) 248-9348
Dial-in ID Number
536652#
Dial-in Passcode
8741#

About White Gold Corp.

The Company owns a portfolio of 21,159 quartz claims across 33 properties covering over 423,000 hectares representing over 40% of the Yukon’s prolific White Gold District. The Company’s flagship White Gold property hosts the Company’s Golden Saddle and Arc deposits which have a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t gold and 508,700 ounces Inferred at 1.48 g/t gold. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s recently acquired VG Deposit also hosts a historic Inferred gold resource of 230,000 ounces at 1.65 g/t Au(2). 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 Newmont Corporation with Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au(3), and Western Copper and Gold Corporation’s Casino project which has Proven and Probable reserves of 8.9 Moz Au and 4.5 Blb Cu(3). For more information visit www.whitegoldcorp.ca.

  • See Comstock Metals Ltd. Technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR.
  • Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person

Terry Brace, P.Geo. and Vice President of Exploration 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.

Contact Information:

David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

 

Cautionary Note Regarding Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

 

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: risks related to the novel coronavirus disease on the Company; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties;; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

 

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

Seabridge in 3 Aces deal with Golden Predator

Seabridge Gold Inc. [SEA-TSX, SA-NYSE] said Monday March 30 that it has struck a deal to acquire a 100% interest in Golden Predator Mining Corp.’s [GPY-TSXV; NTGSF-OTCQX] 3 Aces gold project in the Yukon, Canada.

Under the agreement, Seabridge will issue 300,000 common shares and deliver $2.25 million to Golden Predator, which will continue to hold an interest in the project via a royalty. In addition, Golden Predator will receive a cash payment of $263,000 as a reimbursement for project-related payments made by the company.

In the event that the transaction does not close, $218,000 of the cash becomes a loan payable to Seabridge, which saw its share price advance by 4.8% or 66 cents to $14.33. The shares trade in a 52-week range of $7.37 and $21.98.

Golden Predator fell 9% or $0.02 to 20 cents on light trading volume. The shares are trading in a 52-week range of 16 cents and 50 cents.

Seabridge Gold holds a 100% interest in several North American gold resource projects. The company’s principal assets are the KSM and Iskut properties near Stewart, northwestern B.C., and the Courageous Lake gold project in the Northwest Territories. KSM is one of the world’s largest undeveloped gold projects as measured by reserves. It is estimated to contain 38.8 million ounces of gold and 10.2 billion pounds of coper in proven and probable reserves.

The 3 Aces Project is one of two key assets in the Golden Predator portfolio. The other is the Brewery Creek gold project, which is also located in the Yukon. The 3 Aces Project is a district-scale, orogenic-gold deposit, consisting of 1,734 claims, covering 357 km2. It is located in a readily accessible part of the Yukon, northeast of Watson Lake.

Seabridge Gold Chairman and CEO Rudi Fronk described the 3 Aces Project as a first-rate exploration play with the potential to host a high grade commercially-viable orebody. “We think 3 Aces is a worthy addition to the three outstanding exploration opportunities we already own in British Columbia, Nevada and the Northwest Territories,” Fronk said.

“Golden Predator has done an excellent job of demonstrating the exploration potential at 3 Aces, confirming the project’s positive metallurgy and establishing excellent relationships with local First Nations and communities,” he said.

The acquisition agreement provides for additional payments to Golden Predator of $1 million upon confirmation of a 3 Aces NI 43-101-compliant Mineral Resource of 2.5 million ounces of gold and a further $1.25 million upon confirmation of a Mineral Resource of 5.0 million ounces.

The deal also grants Golden Predator a 0.5% net smelter return royalty on the project.

Golden Predator made an early decision to bulk sample at its 3 Aces Project when it realized that much of the gold contained in its veins is high-grade and nuggety. The ‘nugget effect’ occurs when the gold is not distributed evenly throughout the deposit but rather is accumulated in clumps within the veins with visible gold often sitting loosely in open spaces and along fractures, making it difficult for diamond drilling to obtain representative samples.

To eliminate the cost of shipping bulk sample materials outside of Yukon, and to effectively manage the processing costs, Golden Predator built its own closed system processing plant.

The agreement is expected to allow Golden Predator to focus on its Brewery Creek gold mine, also in the Yukon.

The company recently released an updated technical report for Brewery Creek. The report is highlighted by a sharp increase in the estimated oxide gold resources in both the indicated and inferred categories.

The company said the Yukon government is allowing the company to proceed with the restart of the Brewery Creek gold mine without having to re-enter the permitting process. However, the company has not said when production will actually resume.

White Gold Corp. Further Extends VG Deposit Mineralization and Advances New High Priority Targets in Close Proximity to VG Deposit on QV Property

White Gold Corp. [TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W] (the “Company”) is pleased to announce positive RC drill results on its recently acquired VG Deposit located on the QV Property. The drilling extended known mineralization which remains open in all directions and shows similarities to the nearby Golden Saddle deposit. The QV Property was acquired in early 2019 and contains the VG Deposit, which hosts an historic inferred gold resource of 230,000 oz at 1.65 g/t Au(1) and several highly prospective undrilled targets in close proximity. The QV Property is historically underexplored and demonstrates strong similarities and prospective geology as that found on both the White Gold and JP Ross properties. Drilling in 2019 was designed to step-out on the VG deposit along strike to the NE and SW, and to infill gaps in the deposit’s historic resource model. The Company’s fully-funded $13 million 2019 exploration program, backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC), includes diamond drilling on the Vertigo target (JP Ross property), Golden Saddle & Arc deposits (White Gold property) as well as soil sampling, prospecting, GT Probe sampling, trenching and RAB/RC drilling on various other properties across the Company’s expansive land package located in the prolific White Gold District, Yukon, Canada.

Highlights Include:

• QV Property was acquired in early 2019 and includes the VG Deposit which hosts a historic Inferred gold resource of 230,000 oz at 1.65 g/t Au. The property has geologic similarities to both the newly discovered Vertigo target as well as the Company’s flagship White Gold property which has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,700 ounces Inferred at 1.48 g/t Au. The QV is vastly underexplored and a high priority for follow-up exploration.

• 2019 activity included 870m of RC drilling across 8 holes, designed to step-out along the strike of the deposit to the NE and SW, and to infill gaps in the deposit’s historic resource model. LiDAR was also completed over the southern portion of the property and a total of 1,466 soil samples were collected.

• Golden Saddle style gold mineralization was intercepted in every hole at the VG deposit. Results confirmed continuity of mineralization and extended the current deposit limits. The VG deposit remains open in both directions along strike and downdip.

• 2019 Drill highlights include QVVGRC19-005 which intercepted 50.3m of 2.07 g/t Au, QVVGRC19-007 intercepting 38.10m of 1.97 g/t Au, QVVVGRC19-006 intercepting 36.58m of 1.42 g/t Au, QVVVGRC19-002 intercepting 33.54m of 1.09 g/t Au, and QVVVGRC19-001 intercepting 10.67m of 2.09 g/t Au.

• Multiple underexplored, high-priority targets exist surrounding the VG resource on the QV property, including the Tetra, Shadow and Stewart gold targets, which warrant follow-up exploration based on exploration performed to date.

Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

“We are very pleased with the results of our 2019 RC drill program on the recently acquired VG Deposit. The program further expanded the footprint of the deposit, which continues to remain open along strike and at depth and refined the geologic model for continued follow up work. Furthermore, the mineralization, alteration, geochemistry and structural controls of the VG are remarkably similar to our flagship Golden Saddle deposit just 10km to the south,” stated David D’Onofrio, Chief Executive Officer. “This property has seen very limited exploration to date and we are confident that our team is well positioned to maximize the value of the VG deposit and the several other highly prospective and untested new targets on the property through leveraging our innovative data driven exploration methodologies.”

The VG Deposit

The historic Inferred Mineral Resource estimate for the VG deposit is 230,000 ounces of gold (4,390,000 tonnes at an average gold grade of 1.65 g/t), as of June 3rd, 2014. The Mineral Resource estimate was prepared for Comstock Metals Ltd. by Lions Gate Geological Consulting Inc. and reported in its press release dated July 8th, 2014, and is based on Comstock data (including collar, survey, lithology and assay data), using the Inverse Distance Squared (ID2) method with appropriate estimation parameters in accordance with industry standards. The estimate needs to be verified by the Company by conducting detailed data and QA/QC validation, including location, geological, density and assay data. More recent drilling data will be incorporated into a future resource update. A qualified person for the Company has not done sufficient work to classify the historical estimate at QV as current Mineral Resources, therefore the Company is not treating the historical estimate as current Mineral Resources and the historical resource should not be relied upon.

  • See Comstock Metals Ltd. Technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR.

2019 Exploration Summary

A total of 870.2m of RC drilling over 8 holes was completed on the VG Zone. The holes were designed to step-out on the deposit along strike to the NE and SW, evaluate gaps in the historic resource model, and twin historic diamond holes for QA/QC purposes. Individual assay results for the 2019 program ranged from trace to 11.9 g/t Au with additional detail provided below.

The results from 2019 activities, in addition to the 2017 historic drilling performed after the historic resource calculation was completed, prove that the VG deposit is open along strike to the NE, continues to be open at depth, and has great potential to expand and upgrade the current resource area with future activity. The QV also hosts several highly prospective new targets which remain underexplored further adding to the property’s potential for new discoveries.

The mineralization on the VG deposit is hosted along a NE trending, gently south dipping structural zone that has been traced for over 700m at surface and consists of disseminated to vein-controlled pyrite with brecciation, stockwork quartz-carbonate veining, and sericite alteration.

Mineralization on the VG consists of a several tabular, NE trending, shallowly N dipping bodies of mineralization associated with strong quartz-sericite-illite alteration with brecciation and stockwork to lode style quartz veining and disseminated to fracture controlled pyrite and rare visible gold. The mineralization is coincident with anomalous Mo (+/-Pb) and strongly resembles mineralization on the Golden Saddle Deposit; approximately 10km to the south and is open along strike and at depth. The mineralization occurs adjacent to the Telegraph Fault, a NE trending, subvertical normal fault that has locally offset the mineralization.

A summary of significant assay results is presented in Table 1 and a description of the holes is below.

QVVGRC19-001 is a 50m step out located on the southeastern margin of the VG deposit on the VG South body. The hole returned 10.67m of 2.09 g/t Au from 4.57m depth; including 1.52m of 7.83 g/t Au from 10.67m depth. The intercept confirms mineralization on the VG continues along strike to the east of the historic resource area and is still open along strike.

QVVGRC19-002 is a 110m step-out to the northeast of the VG deposit and returned 7.62m of 4.03 g/t Au from 86.87m depth; including 3.04m of 7.80 g/t Au from 89.92m depth. This intercept occurs within a broader envelope of anomalous mineralization (>0.1 g/t Au) and the overall interval averages 1.09 g/t Au over 33.54m from 65.53m depth. The intercept confirms mineralization on the VG continues along strike to the NE of the historic resource area and is still open along strike and down dip.

QVVGRC19-003 is located 205m west of QVVGRC19-002 and was drilled to test along the western edge of the historic resource pit. The hole returned 13.71m of 0.67 g/t Au from 36.58m depth, with individual 1.52m sample values up to 2.41 g/t Au.

QVVGRC19-004 is located 135m W-NW of QVVGRC19-002 and outside the historic resource pit. The hole was terminated prior to target depth due to poor ground conditions.

QVVGRC19-005 was drilled as a twin of historic hole QV12-006 for QA/QC purposes. The hole returned 50.3m of 2.07 g/t Au from 70.1m depth; including 3.05m of 7.88 g/t Au from 76.2m depth, 12.19m of 3.29 g/t Au from 102.11m depth and 4.57m of 5.46 g/t Au from 103.63m depth. This compares favorably with the intercept of 41.43m of 2.00 g/t in historic hole QV12-006

QVVGRC19-006 infilled a 95m gap between historic holes QV12-006/008 & QV12-001/002/004. The hole returned 36.58m of 1.42 g/t Au from 80.77m depth; including 9.14m of 2.71 g/t Au from 86.87m depth. This result confirms grade continuity and compares favourably with grades from surrounding historic drill holes.

QVVGRC19-007 was drilled as a twin of historic hole QV12-002 for QA/QC purposes. The hole returned 38.10m of 1.97 g/t Au from 21.34m depth; including 9.14m of 3.70 g/t Au from 28.96m depth and 3.05m of 3.68 g/t Au from 48.77m depth. The hole also intercepted a 9.14m zone of 0.99 g/t Au from 68.58m depth. These results are both slightly higher than the results from QV12-002 which were 40.40 m of 1.64 g/t Au and 8.40m of 0.68 g/t Au from the two zones respectively.

QV Drill Highlights:

Individual assays for the reported results ranged from trace to 11.9 g/t Au. The most significant results for drilling on QV included in this release are summarized in the table below. True thickness is estimated to be between 90 – 95% of the reported intercepts:

The 2019 drilling program successfully confirmed historic results, continuity of mineralization and extended the current deposit limits. The VG deposit remains open in both directions along strike and downdip.

Historical work on the VG Deposit

The most recent historic work on the property prior to its acquisition by the Company in 2019 occurred in 2017 and included six diamond drill holes on the VG which expanded the footprint of known mineralization beyond the limits of the prior historic resource calculation. Significant results from the 2017 program included 1.42 g/t gold over 45.5m from 67.5m down hole in hole QV17-018, which expanded the mineralization 125 metres down dip from previous drilling and 1.48 g/t gold over 51.2m from 98m down hole in hole QV17-019, which expanded the mineralization 45m west of previous drilling.

Additional work on the QV Property has included soil sampling, GT Probe sampling, trenching, IP-Resistivity surveys, airborne magnetic-radiometric surveys, geological mapping/prospecting and minor RAB drilling. This work has defined other priority targets with similarities to the Company’s Golden Saddle deposit and recently discovered Vertigo zone warranting follow up exploration including the Stewart, Tetra and Shadow targets.

QV Property

The QV property covers 16,335 hectares (40,000 acres) and is 10km north of the Company’s White Gold property which hosts its Golden Saddle & Arc deposits, 20 km southwest of the Company’s Vertigo discovery on its JP Ross property, and 44 kilometres northwest of Newmont Goldcorp’s (TSX: NGT, NYSE: NEM) Coffee project. At least 3 other high priority targets are currently recognized on the property including the Stewart, Tetra, and Shadow zones. Additionally, large portions of the QV property are historically underexplored and are open for potential new gold discoveries. Strong geological similarities have been noted between the QV property and the Company’s adjacent White Gold and JP Ross properties.

In 2019, airborne LiDAR was completed over the southern portion of the property and a total of 1,466 soil samples were collected over two grids on the QV property. The most significant results were from a previously unsampled area in the central portion of the QV property and included samples ranging from trace to 106.2 ppb Au. This includes expansion of the Tetra zone approximately 500m to the west, and the Tetra target now covers a 1,500m x 600m area and is associated with an E-W trending magnetic low interpreted as a potentially mineralized structure.

Follow up work on the Tetra and other targets across the QV property will be a priority for future exploration campaigns. Further detail on the high priority targets is outlined below.

Stewart Target: Located 5km N-NW of the VG and consists of a 1.5km, E-W, trending gold in soil anomaly, with values from trace to 274.1 ppb Au and anomalous Bi-Ag-Te-Mo. The target occurs adjacent to a Jurassic intrusive that may be associated with mineralization in the area.

Tetra Target: Located 8km N of the VG and consists of a 1.5km, E-W, trending gold in soil anomaly, with values from trace to 151.5 ppb Au. The target occurs along an interpreted E-W oriented fault based on magnetic data for the area and is open and unexplored to the west.

Shadow Target: Located 12 km north of the VG zone and consists of multiple gold in soil anomalies, ranging from trace to 514ppb Au and up to 2.7km long, associated with a series of NW and ENE trending structures. Strongly anomalous Ag-Pb-Bi+/-As+/-Mo also occur in the area, and the overall geochemical and structural setting is similar to the Company’s Vertigo discovery 23km to the east.

QA/QC

The analytical work for the 2019 drilling program was performed by ALS Canada Ltd. an internationally recognized analytical services provider, at its Vancouver, British Columbia laboratory.  Sample preparation was carried out at its Whitehorse, Yukon facility. All RC chip and diamond core samples were be prepared using procedure PREP-31H (crush 90% less than 2mm, riffle split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10 g/t Au will be reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish).

The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream.

About White Gold Corp.

The Company owns a portfolio of 22,040 quartz claims across 35 properties covering over 439,000 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,700 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Goldcorp Corporation with a M&I gold resource(2) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(2) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

(2) Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person

Jodie Gibson, P.Geo., Technical Advisor, and Andrew Hamilton, P.Geo., Exploration Manager, for the Company are each a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and each has reviewed and approved the content of this news release.

Contact Information:

David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

 

Cautionary Note Regarding Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

 

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

 

Klondike drills 83 metres of 0.6 g/t gold

Klondike Gold Corp. [KG-TSXV; KDKGF-OTC; LBGF-FSE] on Thursday February 13 released more assay results from 2019 drilling at the company’s Klondike District property near Dawson City, Yukon.

The latest assays are from 36 drill holes, plus one area of channel sampling, testing the Lone Star zone along the Bonanza fault on the Klondike property. Highlights include 0.6 g/t gold over 83 metres and 1.45 g/ gold over 20.2 metres at the Lone Star Zone. All channel samples contained gold, with highlight assays including 28.2 g/t gold over 4.0 metres.

Klondike Gold shares were unchanged at 28 cents on Thursday and now trade in a 52-week range of 45 cents and 19 cents.

Ever since the original Klondike discoveries triggered a massive gold rush in 1898, prospectors have been baffled by their inability to find the bedrock source of all the placer gold which has been extracted from the streams and tributaries around Dawson City in the Yukon.

It has been estimated that the Klondike gold fields may have produced as much as 20 million ounces of gold from placer mines.

Yet that same area has yielded only 1,200 ounces of hard rock gold, most of it produced from the Lone Star Mine prior to the start of the First World War in 1914.

Klondike Gold has been working to solve the mystery by assembling a large property position in the Klondike fields south of Dawson City. The company is backed by Vancouver financier Frank Giustra, who holds a 14.6% stake in the company.

Klondike’s exploration efforts are being led by President and CEO Peter Tallman, a geologist with 35 years of experience in the mining industry. Having worked in Canada, Chile, Mexico, and Australia, Tallman is a director of another Giustra company, Fiore Gold Ltd. [F-TSXV, FIOGF-OTCQB], which has assets in Chile.

Klondike Gold is focused on exploration and development of the Lone Star gold target at the confluence of Bonanza Creek and Eldorado Creek, within a district scale property that is accessible by government-maintained roads and located on the outskirts of Dawson City.

The junior holds a 100% stake in the Klondike District property, which covers 586 km2.

On Thursday, Klondike said the 2019 drill program was designed to test the Bonanza fault for Lone Star style mineralization over an additional 750 metres of strike length to the southeast of the Lone Star Zone, in an area of high gold-in-soil values up to 0.8 g/t gold. It said the program was successful in intersecting broad zones of gold mineralization containing local intervals of high-grade gold.

The company’s latest interpretation, however, suggests the main Lone Star mineralized horizon has been fault offset slightly south and was untested in 2019. It remains a high priority target for 2020 drilling.

Klondike also said mineralization in drill holes reported Thursday extends the known envelope of the Lone Star zone mineralization along the Bonanza Fault for up to 400 metres to the east and provides information for drill targeting further potential expansion in 2020.

White Gold Corp. Intercepts Significant Gold Values on Multiple New Drill Targets Across the White Gold Property, Confirming and Extending Regional Scale Mineralization Surrounding the Company’s Flagship Golden Saddle & Arc Gold Deposits

White Gold Corp. [TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W] is pleased to announce Rotary Air Blast (RAB) drill results on multiple newly identified drill targets located across its White Gold property, in the prolific White Gold District, Yukon, Canada. Significant gold mineralization was encountered on several targets located in the area surrounding the Golden Saddle & Arc deposits. These targets were discovered through the Company’s proprietary, data driven exploration strategy and include the McKinnon East, Ulli’s Ridge, Minneapolis Creek and several other targets. The 2019 RAB drill program was designed to drill a limited number of holes per target as a preliminary evaluation of the target areas with preliminary drilling of the additional new targets and follow up to be performed in 2020. White Gold Corp’s fully-funded $13 million 2019 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) included diamond drilling on the Vertigo target (JP Ross property), Golden Saddle & Arc deposits (White Gold property) as well as soil sampling, prospecting, GT Probe, trenching and RAB/RC drilling on various other properties across the Company’s expansive land package located in the prolific White Gold District, Yukon, Canada.

Highlights Include:

  • White Gold Corp’s proprietary, data driven exploration methodology successfully confirms near surface gold mineralization across multiple additional newly identified targets on the White Gold property in the area surrounding its flagship Golden Saddle & Arc deposits.
  • First RAB drilling on newly identified target areas validated prospectivity of multiple gold zones over a 11km by 5km trend.
  • Significant mineralization was encountered on the McKinnon East, Ulli’s Ridge and Minneapolis Creek targets all within a 5km radius of the Golden Saddle deposit to be followed up in 2020.
  • Additional new targets on trend remain untested and will receive first RAB drilling in 2020.
  • Results indicate significant potential for additional gold discoveries outside of current resource areas as targets have only had limited and shallow drilling to date.

Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

“We are very encouraged with these positive drill results in such close proximity to our flagship deposits with our first RAB drilling on newly identified targets.  With only a few holes drilled on each target in a first-pass, shallow drill program, this further validates the effectiveness of our exploration methodologies, the large scale of the mineralized system and the potential for additional new discoveries on this underexplored trend which has now been expanded to an area of roughly 55 km2. We look forward to our first drilling on the additional new targets identified on this trend and following up on these results in the upcoming season” stated David D’Onofrio, Chief Executive Officer.

Geochemical Trends on White Gold Property

Extensive soil sampling and other exploration activity on the White Gold Property has outlined an area approximately 11 kilometres north south and 5 kilometres east west of anomalous geochemistry including the Golden Saddle and Arc deposit resource areas. Surrounding these resource areas are a number of gold occurrences, which appears to indicate two different geochemical signatures. The Golden Saddle, Donahue North and South and McKinnon East and West occurrences appear to be gold only systems, while the Arc, Ulli’s Ridge, Ryan’s Surprise, Minneapolis Creek and Teacher’s occurrences have Au-As-Sb-Mo geochemical signatures. To date most zones outside of the resource areas have seen only limited and shallow drilling, and significant potential for additional gold discoveries remains. Highlights from the 2019 RAB drill program on the White Gold property are detailed below.

2019 RAB Drilling on White Property

A total of 1,344m of RAB drilling over 20 holes was conducted on the White property in 2019, primarily performing an initial evaluation on 7 of the newly identified target areas generated from soil sampling, prospecting and geologic mapping, GT Probe sampling, trenching, and geophysical data as previously announced on August 22, 2019.  Assay values for the drilling ranged from trace to 4.68 g/t Au. There is not currently enough information to determine true thickness of the reported results.

McKinnon East

The McKinnon East target is approximately 5.5km to the southeast of the Golden Saddle deposit and covers a 1,200m x 250m, northwest trending gold in soil anomaly with values of up to 1,696ppb Au. RAB drilling followed up on gold anomalies in soil samples, trench grab samples of up to 68.9 g/t Au, prospecting samples of up to 49.9 g/t Au and historic drilling. Highlights of the historic drilling is shown below. Most of these highlights occur within broader low-grade intervals.

Hole ID From To Metres Au g/t
WGMK10D0004 51.82 56.77 4.95 1.34
WHTMK18RC-001 118.87 128.02 9.15 1.24
Inc. 120.4 123.44 3.04 2.36
WHTMK18RC-002 129.54 137.16 7.62 0.96
WHTMK18RC-003 82.30 86.87 4.57 2.11
WHTMK18RC-004 16.76 19.81 3.05 4.35

Highlights of the 2019 RAB drilling include:  

WHTMKE19RAB-001 was drilled at an azimuth of 180° and a dip of -60°. This hole targeted an E-W trending structure, including heavily oxidized material, seen in nearby trenching which returned values up to 1.51 g/t Au.  The hole returned 15.24 m of 0.519 g/t Au from surface.

WHTMKE19RAB-002 was drilled at an azimuth of 180° and a dip of -60°. This hole was targeting a gold in soil anomaly and the western projection of the E-W structure tested by WHTMKE19RAB-001 and returned 9.15 m of 0.92 g/t Au from 24.38m depth including 6.09 m of 1.31 g/t Au.

WHTMKE19RAB-003 was drilled at an azimuth of 180° and a dip of -60°. The hole targeted an E-W trending structure as seen in in two 2009 McKinnon East trenches that tested the geochemical anomaly. The hole returned 53.34m of 0.35 g/t Au from 4.57m depth, including 6.1 m of 1.39 g/t Au.

Compilation of 2019 and historic drill data on the McKinnon East target indicate that the zone is open for further testing, particularly to the east and warrants follow up exploration activity.

Ulli’s Ridge

The Ulli’s Ridge target is approximately 2.5 km southwest of the Golden Saddle deposit and covers a 2,000m x 500m, north-northwest trending zone of gold in soil anomalies with values up to 1,585ppb Au. RAB drilling followed up on GT Probe results that included multi-station GT probe hits of up to 1.625 g/t Au prospecting samples of up to 8.3 g/t Au and trenching samples of up to 1.5 g/t Au. Highlights of 3 RC holes that were drilled on a single section in 2017 are shown below.

Hole ID From To Metres Au g/t
WHTULR17RC-001 7.62 10.67 3.05 2.58
WHTULR17RC-001 67.06 68.58 1.52 6.23
WHTULR17RC-002 97.54 99.06 1.52 9.7
WHTULR17RC-003 79.25 82.30 3.05 2.19

Highlights of the 2019 RAB drilling include:

WHTULR19RAB-001 was drilled at an azimuth of 180° and a dip of -60°. The hole targeted gold anomalies in soil samples, GT Probe samples and prospecting samples (up to 8.3 g/t Au) and returned 7.62 m of 1.4 g/t Au from 24.38m depth including 1.52 m of 3.81 g/t Au.

WHTULR19RAB-003 was drilled at an azimuth of 235° and a dip of -60°. The hole targeted gold anomalies in soil samples and trench samples (up to 1.5 g/t Au) and returned 1.53 m of 4.27 g/t Au from 35.05m depth.

Results suggest that Au at the Ulli’s Ridge target is associated with As and Mo values in a NNW-SSE trending system which remains under explored and open in multiple directions and warrants follow up exploration activity.  There is a 300 metre gap between the limited drill testing that has been carried out and the northernmost 1,000 metres of the anomaly has seen no drill testing to date.

Minneapolis Creek

The Minneapolis Creek target is approximately 3.5 km northwest of the Golden Saddle deposit and covers a strong 1,000m x 250 northwest trending gold in soil anomaly with values of up to 1,590ppb Au.  RAB drilling followed up on gold anomalies in soil samples, prospecting samples with values up to 5.02 g/t Au and multi-station GT Probe hits with values of up to 1.78 g/t Au, all within an airborne magnetic high.

WHTMCR19RAB-002 was drilled at an azimuth of 360° and at a dip of -70° . The hole was targeted based on gold anomalies in soils samples, trench samples and GT Probe samples and intersected 3.05 m of 1.52 g/t Au from 0.00m. The hole only reached 10.67m due to ground conditions and did not reach its target.

Results to date from Minneapolis Creek suggest that Au is associated with As in a NW-SE trending system which remains under explored in both directions and warrants follow up exploration activity.

QA/QC

The analytical work for the 2019 drilling program was performed by ALS Canada Ltd. an internationally recognized analytical services provider, at its North Vancouver, British Columbia laboratory.  Sample preparation was carried out at its Whitehorse, Yukon facility. All RC chip and diamond core samples were prepared using procedure PREP-31H (crush 90% less than 2mm, riffle split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10 g/t Au were reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish).

The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream.

About White Gold Corp.
The Company owns a portfolio of 21,207 quartz claims across 33 properties covering over 422,730 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,800 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Goldcorp Corporation with a M&I gold resource(1) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(1) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

(1) Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person

Jodie Gibson, P.Geo., Technical Advisor, and Andrew Hamilton, P.Geo., Exploration Manager, for the Company are each a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and each has reviewed and approved the content of this news release.

Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource at the White Gold property beyond the Golden Saddle & Arc existing resource, and it is uncertain if further exploration will result in the targets being delineated as a mineral resource.

Cautionary Note Regarding Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

Cantex says Fipke has not sold shares

Cantex Mine Development Corp. [CD-TSXV; CTXDF-OTC] issued a statement Tuesday January 21 saying that it wanted to clarify recent System For Electronic Disclosure By Insiders (SEDI) filings related to the Yukon silver-lead-zinc explorer.

Cantex said it has been advised that, contrary to recent SEDI filings, neither Chairman Dr. Charles Fipke, nor any entity associated with him has sold any shares of Cantex.

“The recently reported dispositions were all Christmas gifts of shares to family members and employees of CF Minerals, and the SEDI filings have been amended accordingly,” the company said in a press release. Headed by Fipke, CF Mineals is a Kelowna, B.C.,based specialist in heavy mineral geochemistry.

Cantex is a company that set out to define a world class silver-lead-zinc deposit on its 100%-owned North Rackla claim block, which is located approximately 100 km northeast of Mayo in central Yukon.

It has launched the search roughly 30 years after Fipke discovered Canada’s first commercial diamond mine (Ekati) in the Northwest Territories

Covering 14,077-hectares, the Yukon project is also situated to the northeast of both Atac Resources Ltd.’s [ATC-TSXV] Rackla gold property and Victoria Gold Corp.’s [VIT-TSXV] new Eagle Mine.

Hopes that Fipke is onto another big find sparked a steady rise in the value of Cantex shares from 18 cents in October, 2018 to a recent high of just under $7.00 in August, 2019. But the stock price has plunged to below 60 cents this week.

On Tuesday, the shares were down 1.5% or $0.01 to 65 cents and now trade in a 52-week range of 56 cents and $6.99.

Last year, the company was hoping to take a significant step towards its goal by drill testing almost 1 km of strike length on the massive sulphide zone to a depth in places of up to 550 metres. Should we intersect mineralization similar to that intersected last year, this will be a significant deposit, the company has said.

However, in a January 6, 2020, update, the company said it had completed 139 holes totalling 38,174 metres of core drilling at Rackla North, substantially more than the 18,000 metres proposed at the start of 2019.

The 2019 drill program is now complete and drilling is expected to resume when field conditions allow in late spring (2020), the company said in the update.

“With the onset of winter, avalanche hazard limited the area in which it was safe to work,” the company said. “Drills which were testing the continuity to depth beneath pad MZ 5 of the Extension Target and the strike extent of the mineralization at the Discovery Target were relocated to the flat till covered area between these two targets,” the company said.

Cantex went on to say that the till in this area is up to 50 metres thick, making targeting difficult as prospecting and soil-talus sampling were ineffective. “In addition, ground geophysical surveys (including gravity, electromagnetics, induced polarization and resistivity) were unable to define known massive sulphide mineralization, preventing their application.”

In spite of these challenges, Cantex said it successfully intersected significant sulphide mineralization.

The company said poor weather conditions towards the end of the year hampered air support to the project, delaying the shipment of core samples from the site. However, it said conditions did improve just prior to Christmas, allowing the samples to be sent out.

Cantex said the samples have arrived at CF Mineral Research, where they are being crushed and pulverized prior to be sent to ALS Global in North Vancouver for assaying.

Golden Predator rallies on Yukon gold estimate

Golden Predator Mining Corp. [GPY-TSXV; NTGSF-OTCQX] on Wednesday January 15 released an updated technical report for its Brewery Creek gold mine in the Yukon. The report is highlighted by a sharp increase in the estimated oxide gold resources in both the indicated and inferred categories.

The announcement comes after Golden Predator recently said the Yukon government is allowing the company to proceed with the restart of the Brewery Creek gold mine without having to re-enter the permitting process. However, the company has not said when production will actually resume.

According to the updated estimated, the indicated oxide resource now stands at 21.14 million tonnes at 1.125 g/t gold or 765,000 ounces. That marks a 55% increase from an earlier estimate announced in a 2014 Preliminary Economic Assessment.

On top of that is an Inferred Oxide Resource, which now stands at 14.12 million tonnes at 0.967 g/t gold or 440,000 ounces.  That’s up by 78% from the 2014 estimate.

Also noted in the report is an additional 8.57 million tonnes of Inferred Sulphide Resources grading 0.985 g/t gold or 270,000 ounces.  The estimate utilized cut-off grades calculated separately for each deposit, ranging from 0.42 to 0.53 g/t at a gold price of US $1,325/oz reported within a pit shell calculated at US $1,600/oz.

Golden Predator shares rallied on the news, rising 11.8% or $0.04 to 38 cents on active volume of over 1.5 million. The shares are trading in a 52-week range of 18 cents and 50 cents.

“We are delighted by the substantial increase in oxide resources, which offer a significant impact on the longevity and economics of the Brewery Creek mine,” said Golden Predator CEO Janet Lee-Sheriff.

Brewery Creek is a former open pit, heap leach mine located 45 km from Dawson City. From 1996 to 2002, approximately 280,000 ounces of gold was produced from seven near-surface oxide deposits along the property’s reserve trend. The mine was put into temporary closure in 2002 following a collapse in the price of gold below US $300/oz.

However, Golden Predator said the Yukon Government has confirmed the validity of the existing quartz mining and water licenses for the Brewery Creek Mine

The company said it is authorized to restart mining activities that follow the previously assessed mine plans without further assessment and review. In addition, the company said it has received Indigenous community backing from the Tr’ondek Hwech’in, which has passed a formal Council Resolution in support of resumed mining and processing at the Brewery Creek mine under existing licenses.

Kappes Cassiday is currently conducting a feasibility-level study to determine the parameters for the Phase One plan to reprocess material on the heap leach pad. The study is focused solely on remediating and reprocessing the heap leach pad as a means of fast-tracking revenue and redevelopment of the site.

Any production decision would be based on the outcome of this feasibility-level study demonstrating technical and economic viability.

Brewery Creek is one of two key assets in the Golden Predator portfolio. The other is the 3 Aces gold project, which is also located in the Yukon. The 3 Aces property hosts an orogenic gold project and is located northeast of Watson Lake.

The company made an early decision to bulk sample at its 3 Aces Project when it realized that much of the gold contained in its veins is high-grade and nuggety. The ‘nugget effect’ occurs when the gold is not distributed evenly throughout the deposit but rather is accumulated in clumps within the veins with visible gold often sitting loosely in open spaces and along fractures.

To eliminate the cost of shipping bulk sample materials outside of Yukon, and to effectively manage the processing costs, Golden Predator built its own closed system processing plant.

Triumph active on Yukon drilling results

Triumph Gold Corp. [TIG-TSXV; TIGCF-OTCQB; 8N61-FSE] has announced more impressive drilling results from the final three holes of the 2019 drilling campaign at its 100%-owned Freegold Mountain property in the Canadian Yukon, where the company is testing for a buried porphyry system.

The latest results include drill hole RVD19-06 which returned 174 g/t gold and 43 g/t silver in the WAu Breccia area. Other notable highlights include the intersection of three porphyry related mineralized zones in RVD19-06 at the WAu Breccia, demonstrating continuity of two, greater than 200-metre deep, mineralized bodies that were intersected earlier this year.

Triumph is focused on its Freegold Mountain Project, which is located in the Dawson Range gold-copper belt. The area also hosts Western Copper and Gold’s [WRN-TSX] Casino Project as well as Newmont Goldcorp Inc.’s [NEM-NYSE; NGT-TSX] Coffee deposit. Goldcorp recently gained exposure to the road-accessible Freegold project by taking a 19.9% stake in Triumph for $6.3 million.

Since Triumph Gold acquired the property in 2006, more than 20 mineralized zones have been identified, and NI 43-101-compliant mineralized resources have been delineated in the Revenue, Nucleus, and the Tinta Hill deposits

Within the last three years, Triumph Gold’s exploration has been focused on the six-kilometre-long intense multi-element soil and geological anomaly that encompasses the Revenue and Nucleus deposit areas.

In a September 12, 2019 news release Triumph the results from the first two of seven holes which the company was planning to drill on the property. Highlights included drill hole RVD19-02, which returned a 400.48-metre intersection of epithermal-style mineralization 77.52 to 478 metres) at the WAu Breccia. It assayed 1.21 grams per tonne of gold equivalent, containing 0.73 g/t gold and 0.23% copper, more than doubling the previously known depth of the mineralization.

The company concluded that it had discovered a porphyry copper-gold system at the WAu Breccia, the first of three areas that the company was planning to drill in 2019 for buried porphyry mineralization.

The WAu Breccia is a south-dipping tabular body of polymetallic mineralization that, prior to 2019, had been tested to a maximum depth of 200 metres below surface. The 2019 exploration program identified a down-dip extension of the WAu Breccia to a depth of approximately 400 metres, as well as underlying magnetite-chalcopyrite breccia in strongly potassic altered granite.

The latter is interpreted as a style of high-temperature mineralization that formed proximal to a causative porphyry intrusion.

White Gold Corp. Stakes Strategic Claims in White Gold District, Yukon

White Gold Corp. [TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W] is pleased to announce it has staked three strategic claim blocks (Kodiak, Kirkman & Tea) totaling 689 mining claims (the “Claims”) contiguous to the Company’s White Gold property, Newmont Goldcorp Inc.’s (TSX: NGT, NYSE: NEM, “Newmont”) Coffee project and Western Copper & Gold’s (TSXV: WRN, NYSE: WRN) Casino project, all located in the prolific White Gold District, Yukon, Canada. The claims further extend the Company’s land package to the south, with Kodiak & Kirkman claim blocks located approximately 10km south of the Company’s White Gold deposit and 10km to the north of Newmont’s Coffee deposit, and the Tea claim block located contiguous to the Coffee project to the south. These properties each display similar geological characteristics to the nearby properties which host significant gold deposits. The Claims bring the Company’s expansive land package to 21,207 quartz claims across 33 properties, totalling over 422,730 hectares, representing over 40% of the White Gold District. White Gold Corp’s fully-funded $13 million 2019 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) includes diamond drilling on the Vertigo target (JP Ross property), Golden Saddle & Arc deposits (White Gold property) as well as soil sampling, prospecting, GT Probe, trenching and RAB/RC drilling on various other properties across the Company’s expansive land package located in the prolific White Gold District, Yukon, Canada.

Highlights Include:

  • New claims staked:
    • KODIAK: 111 claims contiguous to the White Gold property and 10km north of Newmont’s Coffee deposit
    • KIRKMAN: 272 claims extending south of Kodiak, also north of Newmont’s Coffee and south of the White Gold property.
    • TEA: 306 claims contiguous to Newmont’s Coffee project on the south.
  • These properties are historically underexplored and display similar geological characteristics to the Coffee project and White Gold properties.
  • Shawn Ryan, Chief Technical Advisor will be presenting today Thursday December 5, 2019 at 4PM EST, a live webinar corporate update focusing on the Company’s recent high-grade gold discovery the Titan; Registration details are provided below, and a recording will also be available subsequent to the webinar.
  • Additional regional exploration activity & drill results from the White Gold and JP Ross properties to be released in due course.

Maps showing the location of the Claims can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

“Our recent high-grade, near surface Titan discovery and last year’s Vertigo, Ryan’s Surprise and other discoveries continue to demonstrate the success of our proprietary, methodical data-based exploration strategy and the prospectively of our extensive land package in the prolific White Gold District. The Kodiak, Kirkman and Tea properties have similar geological characteristics to our White Gold property and/or the Coffee project and are strategic additions to our land package,” stated David D’Onofrio, Chief Executive Officer.

Kodiak & Kirkman Properties:

Kodiak is comprised of 111 claims located south and adjacent to the Company’s White Gold property and approximately 15km north Newmont’s Coffee deposit. Kirkman is comprised of 272 claims extending south of the Kodiak Property, in close vicinity to the Company’s White Gold property and approximately 10km north of Newmont’s Coffee project and 2 km north of Arcus Development Group Inc.’s Dan Man property.

The Kirkman claims were previously held by Kaminak Gold, who originally discovered the Coffee deposit and was subsequently acquired by Goldcorp for $530M. Historically the properties have only had limited exploration work completed, comprised primarily of soil sampling, geophysical surveys, and minor trenching activity.

The strong soil anomalies and favourable geology, combined with the proximity to the neighboring gold deposits warrant follow up exploration. The anomalies are also alongside the Kirkman Creek which is currently actively mined for placer gold.  

Tea Property:

The Tea is comprised of 306 claims on a new target area and is located immediately south of Newmont’s Coffee project, and adjacent to Western Copper & Gold’s Casino project to the east. The Tea property claims were staked based on geologic and geophysical interpretation of the area with the claims covering a previously unexplored regional scale, E-W oriented, structural corridor and receptive host rocks. Placer gold is known to occur within streams draining the area and the geologic and structural framework is similar to that which hosts mineralization on the adjacent Coffee property, and the Company’s Betty property approximately 25km to the east.

Live Corporate Update Webinar: Titan Discovery – Thurs Dec 5, 2019 4PM EST

Shawn Ryan, Chief Technical Advisor, will present a live webcast corporate update with a focus on the Company’s Titan discovery.

The recent and first ever drilling on the Titan intercepted 72.81 g/t Au over 6.09m from 10.67m depth, including 136.36 g/t Au over 3.05m, within a 32m zone of mineralization and remains open in all directions(1). The Titan is located on the road-accessible Hen property and consists of a 650m x 650m gold in soil anomaly with multiple other prospective targets that show similar geophysical characteristics to the mineralization encountered in these drill holes.  Titan surface exploration results include grab samples of 605 g/t Au, 497 g/t Au, and 113 g/t Au with fine grained visible gold observed, and soil samples of up to 113 g/t Au, the highest ever in the Company’s 400,000+ soil sample database(2).

Register for Live Webinar at Link Below: A recording of the webinar will become available after the Webinar using the same link:

https://bit.ly/2R3LvNI

  • See White Gold Corp News Release dated November 26, 2019, available on SEDAR.
  • See White Gold Corp News Release dated September 5, 2019, available on SEDAR.

The Company also announces that Robert Carpenter has stepped down from the Board of Directors to pursue other interests. The Company would like to thank Rob for his valuable contributions to the Company and wish him the best of luck in his future endeavours.

QA/QC

The analytical work for the 2019 drilling program will be performed by ALS Canada Ltd. an internationally recognized analytical services provider, at its Vancouver, British Columbia laboratory.  Sample preparation was carried out at its Whitehorse, Yukon facility. All RC chip and diamond core samples will be prepared using procedure PREP-31H (crush 90% less than 2mm, riffle split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10 g/t Au will be reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish).

The reported work will be completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream.

About White Gold Corp.
The Company owns a portfolio of 21,207 quartz claims across 33 properties covering over 422,730 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,700 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Goldcorp Corporation with a M&I gold resource(3) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(3) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

(3) Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person

Jodie Gibson, P.Geo., a Technical Advisor for the Company, is a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release.

 

Cautionary Note Regarding Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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