Maiden PEA outlines a 9.4-year, 12,000 tonne per day open pit operation producing an average of 188,000 ounces of gold per year (223,000 ounces per year over the first five years) at a US$3,600/oz gold price
After-Tax NPV increases to C$3 Billion and 57% IRR at US$4,500/oz gold price
Toronto, Ontario--(Newsfile Corp. - September 25, 2026) - White Gold Corp. (TSXV: WGO) (OTCQX: WHGOF) (FSE: 29W) ("White Gold" or the "Company") announces that it has filed an independent Preliminary Economic Assessment ("PEA") for its flagship White Gold Project (the "Project"), located in the traditional territory of the Tr'ondëk Hwëch'in in the Yukon Territory, Canada. The PEA includes the Golden Saddle, Arc, Ryan's Surprise, and VG deposits (collectively, the White Gold Project)(1). The report titled "Preliminary Economic Assessment, White Gold Project, Yukon" was prepared by JDS Energy & Mining Inc. under NI 43-101. The technical report is available on SEDAR+ (https://www.sedarplus.ca/).
Further to the Company's news release dated August 10th 2026, and optimizations announced August 28th 2026, the PEA outlines a technically straightforward open pit mining operation with the potential for positive economics at a consensus long-term gold price and establishes the development framework for a district that remains largely untested beyond the deposits included in this study. In addition to the positive PEA economics, the Company has identified numerous additional opportunities with the potential to extend mine life, increase annual production, and further increase project economics in subsequent studies including potential resource conversion and growth at the existing deposits with prior, ongoing and future drilling, the underground mining potential at Golden Saddle, and a prospective exploration pipeline in the immediate vicinity of the White Gold Project consisting of more than 25 identified targets discovered through the Company's systematic, data-driven exploration methodology.
PEA Highlights
All amounts in Canadian dollars unless otherwise noted. Base case gold price of US$3,600/oz (flat) and an exchange rate of US$0.72 = $1.00.
Positive Base Case Economics: After-tax net present value at five percent discount rate (NPV(5%)) of $1,856 million and after-tax internal rate of return (IRR) of 41% with a payback period of 1.5 years, at US$3,600/oz gold. Pre-tax NPV(5%) of $2,991 million and pre-tax IRR of 57%.
Strong Cash Generation: Life of mine after-tax free cash flow of $2,672 million, averaging approximately $280 million per year.
Significant Leverage to Gold Price: At US$4,500/oz, after-tax NPV(5%) increases to $2,911 million with an IRR of 57% (See Table 2).
Meaningful Production Scale: Average annual gold production of 188,000 ounces over a 9.4-year mine life, averaging 223,000 ounces per year over the first five years, from a conventional open pit operation and 12,000 tonne per day mill.
Efficient Cost Structure: Life of mine cash costs of US$1,290/oz and all-in sustaining costs of US$1,482/oz.
Established Road-Accessible Project: The White Gold Project is located in a region with a long history of placer mining, approximately 95 km south of Dawson City. The Project proposes to tie into the planned Northern Access Route (NAR) from Dawson City to neighbouring properties. The award of the construction contract (by others) for the NAR was announced earlier this year with mobilization underway. The Project will be accessed by an all-weather gravel road, which crosses the Stewart River by barge in summer and ice road in winter.
Favourable Jurisdiction: The Project is located within the Traditional Territory of the Tr'ondëk Hwëch'in in Canada's Yukon Territory, a stable mining jurisdiction with a well-defined regulatory process, government support for responsible resource development, and consistently strong rankings in global mining investment surveys.
First Phase of a District-Scale Opportunity: The PEA mine plan incorporates four deposits (Golden Saddle, Arc, Ryan's Surprise and VG) and only draws on approximately 60% of the Company's current mineral resource estimate completed in August 19th, 2025 of 1,732,300 ounces Indicated (35.2 Mt at 1.53 g/t gold) and 1,265,900 ounces Inferred (32.3 Mt at 1.22 g/t gold). Drill results from 2025 and ongoing drilling in 2026 are not included in the resource, and all four deposits are still open for expansion. The Project covers approximately 55,000 hectares with more than 25 additional targets identified across the property, the majority of which have seen limited or no drilling.