White Gold Announces Receipt of Court Approval for W2 Critical Minerals Spin-Out, Upsizing of Financing to $10M and Provides Exploration and PEA Optimization Update

White Gold Corp. (TSXV: WGO) (OTCQX: WHGOF) (FSE: 29W) is pleased to announce that the Ontario Superior Court of Justice granted the final order in connection with the spin-out of certain critical mineral properties located in Yukon to W2 Critical Minerals Corp. pursuant to a plan of arrangement. The spin-out remains subject to final regulatory approvals, including final approval of the TSX Venture Exchange. In connection with the spin-out, W2 is pleased to announce an upsize of its previously announced financing to $10,000,000. "We are pleased to announce the significant progress on the spin-out of White Gold's most prospective critical mineral assets. These assets have benefited from over a decade of ground-up exploration, and now warrant the dedicated team, strategy and capital that W2 will bring to advance them further. We are also pleased with progress of our exploration program to date, which includes our largest ever diamond drilling program on our flagship project designed to build upon the recently announced strong PEA results and demonstrate the potential to meaningfully further increase our gold resources and continue to make new discoveries, and eagerly await assays," said David D'Onofrio. Additional information concerning the spin-out is available in the management information circular of the Company dated July 8, 2026 and the Company's news releases dated August 12, 2026, July 21, 2026, June 15, 2026, and May 5, 2026, which are available under White Gold's profile on SEDAR+ at www.sedarplus.ca and the Company's website www.whitegoldcorp.ca. Shareholders must hold their WGO Shares until the record date of the spin-out in order to receive their pro rata portion of the Spinco Shares being distributed through the Dividend. Shareholders will be notified by the Company of the record date and payment date via news release once all of the conditions to closing of the spin-out have been satisfied, which the Company expects to receive in the near term.

W2 also announces that it has upsized its previously announced non-brokered private placement of subscription receipts to be completed in connection with the spin-out from $5,000,000 to $10,000,000. Under the financing, subscription receipts will be sold at a price of $0.25 per subscription receipt. The proceeds from the sale of the subscription receipts will be held in escrow by a trust company and released to W2 on closing of the spin-out. Completion of the financing is a condition of the completion of the spin-out and W2 intends to use the net proceeds of the financing for exploration and advancement of the critical mineral assets, as well as general corporate and working capital purposes.

The Company is also pleased to provide an update on the fully funded 2026 exploration program on its district scale 300,000 hectare land package, representing over 40% of the emerging White Gold District in Yukon, Canada. 11,500 m of diamond drilling has been completed to date, focused on the Golden Saddle, VG, and Ryan's Surprise thus far, each of which remain open in multiple directions for expansion. Diamond drilling has now commenced on a new target, the VG East extension zone, a 500 m by 200 m high Au-in-Soil target located roughly 1.3 km ENE of the VG deposit and sits on the south side of the same structure responsible for mineralization seen at VG with additional details to be provided in a separate press release. Diamond drilling is planned to begin in the coming weeks on Golden Saddle 2.0, a high-priority near-resource target located approximately 2.5 km east-south-east of the Golden Sad...