TORONTO, ON – August 10, 2026 – As a featured company in The Resource Vault, White Gold Corp. (TSX-V: WGO | OTCQX: WHGOF) has released the results of its Maiden Preliminary Economic Assessment on the White Gold Project in Yukon, Canada. The numbers are compelling by any standard in the gold development sector.
The PEA outlines a 9.4-year open pit operation producing an average of 188,000 ounces of gold per year (223,000 ounces per year in the first five years), with an after-tax NPV of $1.4 billion, an after-tax IRR of 38%, and a payback period of just 1.7 years at a base case gold price of US$3,600 per ounce. At US$4,500 per ounce, the after-tax NPV rises to $2.2 billion with a 52% IRR.
This is a significant milestone. For the first time, the White Gold Project has an independent economic study that quantifies what the land package is worth as a producing mine. The answer is $1.4 billion after tax. The stock is currently trading at a market cap of approximately $295 million USD.
That gap is the investment thesis in a single sentence.
“Our Maiden PEA is a significant milestone for White Gold, delivering a project with strong economics and significant growth potential. Few gold projects anywhere offer this combination of scale, potential returns, favourable jurisdiction and upside,” said David D’Onofrio, Chief Executive Officer.
All figures in USD unless otherwise noted. Based on the PEA exchange rate of US$0.72 = C$1.00.
PEA Summary
| Parameter | Value |
| Gold Price (Base Case) | US$3,600/oz |
| Mine Life | 9.4 years |
| Throughput | 12,000 tonnes per day |
| Average Annual Production (LOM) | 188,000 oz/yr |
| Average Annual Production (Years 1-5) | 223,000 oz/yr |
| Total Payable Gold | 1,765,000 oz |
| Average Head Grade | 1.54 g/t Au |
| Average Gold Recovery | 87% |
| Total Cash Costs | US$1,290/oz |
| All-In Sustaining Costs | US$1,480/oz |
| Initial Capital (incl. contingency) | $756 million |
| After-Tax NPV (5%) | $1,376 million |
| After-Tax IRR | 38% |
| After-Tax Payback | 1.7 years |
| LOM After-Tax Free Cash Flow | $1,933 million |
| Average Annual Free Cash Flow | ~$202 million |
Gold Price Sensitivity
| Gold Price (US$/oz) | After-Tax NPV | After-Tax IRR | Payback (years) |
| $3,000 | $854M | 27% | 2.2 |
| $3,300 | $1,115M | 32% | 1.9 |
| $3,600 (Base) | $1,376M | 38% | 1.7 |
| $3,900 | $1,637M | 43% | 1.5 |
| $4,200 | $1,897M | 48% | 1.4 |
| $4,500 | $2,157M | 52% | 1.3 |
What the PEA Does Not Include
This is the detail that matters most for investors thinking about where the stock goes from here.
The PEA mine plan draws on less than two thirds of the current resource. Approximately one third of the Company’s 2,998,200 total ounces (indicated and inferred) sit outside the mine plan entirely. The QV deposit is not included. All four deposits in the PEA remain open along strike and at depth. And the 15,000 to 20,000 metres of drilling currently underway in 2026 is not reflected in the resource estimate the PEA was built on.
The Company has also identified more than 25 additional exploration targets across its 305,000-hectare land package, the majority of which have seen limited or no drill testing. And underground mining at the high-grade Golden Saddle deposit was not part of this PEA at all. It is a separate opportunity that will be examined as deeper drilling advances.
“This is a strong technical foundation, built on deliberately conservative assumptions. A 9.4 year operation producing an average of 188,000 ounces annually is a compelling initial configuration for a district where mineralization remains open and most of our targets remain undrilled,” said Donovan Pollitt, President.
In other words, the $1.4 billion NPV is a floor, not a ceiling.
The Road Is Already Being Built
One of the most important lines in the PEA is easy to overlook: the Project proposes to tie into the planned Northern Access Route from Dawson City to neighbouring properties, and the construction contract for that road has already been awarded, with mobilization underway.
As covered in a previous Resource Vault release, that road is being built by Talamore Resources as part of the development of the Coffee Gold Project. White Gold does not have to build it. The infrastructure is coming to the district regardless, and White Gold, as one of the largest landholders in the White Gold District with approximately 40% of the land, is one of the primary beneficiaries.
The Resource Vault Perspective
When we initiated coverage of White Gold, the question was whether the district-scale land package could be translated into a compelling economic project. The Maiden PEA answers that question directly.
An independent study by JDS Energy & Mining says the White Gold Project is worth $1.4 billion after tax at today’s consensus gold price. The stock trades at a market cap of roughly $295 million. That is a discount of more than 75% to the PEA value, on a base case that the Company’s own management describes as deliberately conservative, using a resource estimate that is already nine months old and excludes all 2026 drilling.
At US$4,500 per ounce gold, the NPV rises to $2.2 billion. The stock is still at $295 million.
The next steps, including resource expansion drilling, metallurgical optimization, and advancement to a Pre-Feasibility Study, are the catalysts that close that gap. The road into the district is already being built. The drills are already turning. The PEA is done. What is left is execution.
To access the PEA: CLICK HERE
Company management is hosting a live webinar today, August 10, 2026 at 12:00 PM EST. Register here.
For our full initiation report on White Gold and to track all future developments, visit the White Gold Company Page on The Resource Vault.
→ Read Our Initiation Report: “Is This the Next Major Gold District?”
Qualified Persons The PEA was prepared by JDS Energy & Mining Inc. with contributions from Arseneau Consulting Services Inc. and Knight Piesold Ltd. Qualified Persons include Brandon Chambers, P.Eng. (JDS, lead author); Gilles Arseneau, P.Geo. (Arseneau, geology and mineral resources); Tysen Hantelmann, P.Eng. (JDS, mining and economics); Tad Crowie, P.Eng. (JDS, metallurgy and processing); and Daniel Ruane, P.Eng. (Knight Piesold, tailings, water management, environment and permitting).
About White Gold Corp. (TSX-V: WGO | OTCQX: WHGOF) White Gold Corp. owns a portfolio of 15,364 quartz claims across 21 properties covering 305,102 hectares, representing approximately 40% of the Yukon’s White Gold District. The Company’s flagship White Gold Project hosts four near-surface gold deposits containing 1,732,300 ounces of gold in indicated resources and 1,265,900 ounces in inferred resources. White Gold is listed on the TSX Venture Exchange under the symbol “WGO” and trades on the OTC Markets under the symbol “WHGOF”. For more information visit www.whitegoldcorp.ca.
Cautionary Statement The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. This release contains forward-looking statements. Actual results may differ materially from those anticipated. For a full discussion of risks, refer to the Company’s public filings on SEDAR+.
Disclosure: The companies promoted on The Resource Vault have been disseminated on behalf of Equity Catalyst Partners, LLC. Equity Catalyst Partners, LLC has been engaged by these companies to provide marketing and investor relations services and is compensated by each company. This is not financial advice.