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Gold Explorer’s Drill Results Confirm New Significant Mineralized Structures at Yukon Property

November 12, 2021 (Investorideas.com Newswire) Diamond drilling results from White Gold Corp.’s Ryan’s Surprise and Ulli’s Ridge targets demonstrate significant potential to increase the global resource from 1.5 Moz Au to over 2 Moz Au at the company’s Golden Saddle/Arc property. Stifel Nicolaus Canada Inc. commented in a research note that it has a “Buy” rating for White Gold and that a re-rating for the firm’s shares is likely should it reach the 2 Moz mark.

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In a November 8 research note, Stephen Soock, P. Eng., CFA, a precious metals analyst with Stifel Nicolaus Canada Inc. (Stifel GMP), advised that Yukon-focused gold explorer White Gold Corp. (WGO:TSX.V; WHGOF:OTCQX; 29W:FRA) recently released its latest group of assay results from its 2021 exploratory drill program at the Ryan’s Surprise and Ulli’s Ridge targets. The report from Stifel GMP indicated that these newly discovery targets are located about 2 km west of White Gold’s flagship Golden Saddle deposit.

The analyst commented that Ryan’s Surprise and Ulli’s Ridge feature economic-level grades thickness over a wide range and at depth which suggests that the area hosts significant mineralization that might serve to boost the level of the White property resource.

The report from White Gold mentioned that at Ryan’s Surprise, it encountered structurally controlled gold mineralization over an area 400m x 400m. Testing results showed that the mineralization continued to a depth of 450m and was open along strike and down dip. White Gold highlighted that one hole drilled in this area returned 3.25 m of 10.36 g/t Au starting from a downhole depth of 190m.

Stifel GMP stated that White Gold Corp. just announced the drill results from 2,651 m of drilling across 8 diamond drill holes. The drill work was designed to test Ryan’s Surprise’s western strike and down dip extensions and near surface mineralization at of Ulli’s Ridge’s northernmost region.

Analyst Soock remarked that that the latest drill results confirm that, “Ryan’s Surprise has legs.”

In addition to the above-mentioned assay results, several other notable intercepts were obtained including 6.0 m of 3.66 g/t Au from a down hole depth of 78m and 15.0 m of 1.88 g/t Au from a down hole depth of 370m, which included one segment of 2.3 m of 4.83 g/t Au.

The analyst concluded that the latest drill results should offer a strong positive impact for White Gold in that they confirm what Stifel GMP suspected from the RAB drill results reported last week. Stifel stated that Ryan’s Surprise and Ulli’s Ridge show substantial promise of increasing White Gold’s property to total global resource of greater than 2 Moz Au.

Stifel noted that the assay results from other late season diamond drill holes drilled south of Ulli’s Ridge have not yet been released.

The analyst pointed out that White Gold Corp.’s shares trade very cheaply compared to its peers at a spot price to net asset value (P/NAV) of just 0.18x and added that the company is expected to steadily release additional drill results until the end of this year which will be a positive ongoing catalyst for the firm’s stock.

The report pointed out that the firm controls most of the White Gold district and it has developed effective discovery techniques that start with soil sampling followed by low-cost top-of-bedrock sampling.

The analyst listed that White Gold’s Golden Saddle/Arc deposit has an estimated resource of 1.5 Moz Au, which it expects together with the new discoveries will soon surpass 2 Moz. Stifel advised that it anticipates that as the total resource approaches the 2 Moz mark, the property will by spun out to an industry “major” for development.

Stifel advised that it believes that as the Saddle/Arc deposit nears the 2 Moz mark, the stock will re-rate when several other advanced exploration targets including Betty, Sabatoge, Titan, Vertigo and others are fruitful in identifying new discoveries. The analyst added that “the sale of the Golden Saddle/Arc would be a major positive catalyst.”

Stifel Nicolaus Canada Inc. currently has a “Buy” rating and CA$2.70 per share price target for White Gold Corp. The company’s shares trade on the TSX Venture Exchange under the symbol “WGO” and last closed for trading at CA$0.64/share on Wednesday, November 10, 2021.

Disclosure:

1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: White Gold Corp. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of White Gold Corp., a company mentioned in this article.

Disclosures for Stifel, White Gold Corp., Nov. 8, 2021

I, Stephen Soock, certify that the views expressed in this research report accurately reflect my personal views about the subject securities or issuers; and I, Stephen Soock, certify that no part of my compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained in this research report.

White Gold is a client of Stifel Canada or an affiliate or was a client of Stifel Canada or an affiliate within the past 12 months. White Gold is provided with investment banking services by Stifel Canada or an affiliate or was provided with investment banking services by Stifel Canada or an affiliate within the past 12 months.
Stifel Canada or an affiliate has received compensation for investment banking services from White Gold in the past 12 months. Stifel Canada or an affiliate expects to receive or intends to seek compensation for investment banking services from White Gold in the next 3 months. The equity research analyst(s) responsible for the preparation of this report receive(s) compensation based on various factors, including Stifel’s overall revenue, which includes investment banking revenue.

The information contained herein has been prepared from sources believed to be reliable but is not guaranteed by us and is not a complete summary or statement of all available data, nor is it considered an offer to buy or sell any securities referred to herein. Opinions expressed are as of the date of this publication and are subject to change without notice. These opinions do not constitute a personal recommendation and do not take into account the particular investment objectives, financial situation or needs of individual investors. Employees of Stifel, or its affiliates may, at times, release written or oral commentary, technical analysis or trading strategies that differ from the opinions expressed within. Stifel or any of its affiliates may have positions in the securities mentioned and may make purchases or sales of such securities from time to time in the open market or otherwise and may sell to or buy from customers such securities on a principal basis; such transactions may be contrary to recommendations in this report. Past performance should not and cannot be viewed as an indicator of future performance. Unless otherwise noted, the financial instruments mentioned in this report are priced as of market close on the previous trading day and presumed performance is calculated always over the next 12 months. As a multi-disciplined financial services firm, Stifel regularly seeks investment banking assignments and compensation from issuers for services including, but not limited to, acting as an underwriter in an offering or financial advisor in a merger or acquisition, or serving as a placement agent in private transactions.

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