Yukon Gold Project Hits C$1.9B NPV in Maiden PEA

Gold prices near multi-month highs continue to support advanced development projects across Canada. White Gold Corp. (WGO:TSX.V; WHGOF:OTCQX; 29W:FRA) now offers retail investors a concrete look at project economics through its recently released Preliminary Economic Assessment.

The PEA delivers a clear snapshot of potential cash flows at current metal prices and highlights substantial upside if gold moves higher. Investors evaluating Yukon gold opportunities should examine how this study positions the asset relative to peers.

Why the White Gold Project Stands Out in Today’s Market

Strong gold prices create a favorable backdrop for projects with low all-in sustaining costs and rapid payback. The White Gold Project meets both criteria with an estimated AISC of US$1,485 per ounce and an after-tax payback of just 1.7 years under base-case assumptions.

Recently, the company announced results of an independent Preliminary Economic Assessment for its White Gold Project in Yukon, outlining a 9.4-year open pit operation with average annual gold production of 188,000 ounces. This scale provides meaningful production leverage while leaving significant resource ounces outside the initial mine plan for future growth.

Key Investor Takeaways

• Base-case after-tax NPV of C$1.911 billion at a 5% discount rate with 38% IRR and 1.7-year payback at US$3,600 gold.
• Average annual production of 188,000 ounces over 9.4 years, rising to 223,000 ounces in the first five years.
• Life-of-mine cash costs of US$1,290 per ounce and AISC of US$1,485 per ounce.
• Initial capital of C$1.05 billion with total LOM capital estimated at C$1.522 billion.
• Only 60% of current resources are used in the PEA mine plan, leaving substantial expansion potential at multiple deposits.
• Drilling programs are underway to test open zones at Golden Saddle, Arc, Ryan’s Surprise, and VG.

Business Model and Project Scale

The study envisions a conventional 12,000 tonne-per-day truck-and-shovel open pit using carbon-in-leach processing. Life-of-mine production reaches 1.765 million payable ounces from 41 million tonnes grading 1.54 g/t gold. The plan draws on four deposits while keeping roughly one-third of total resource ounces, including the QV deposit, available for future inclusion.

Metallurgical recoveries average 92% at Golden Saddle and VG and 72% at Arc and Ryan’s Surprise. These figures support the projected cash costs and allow for potential optimization as additional test work is completed.

Industry Timing and Expansion Catalysts

White Gold’s July 2026 corporate overview outlines 27,500 to 32,500 meters of planned drilling across the four main deposits. Targets include extending high-grade plunges at Golden Saddle and doubling mineralization at Arc and Ryan’s Surprise. Additional soil and geophysical targets remain undrilled along the Ryan’s Trend and Chris Creek Trend.

Planned infrastructure, such as the Northern Access Route, currently under construction by a neighboring operator, could reduce future logistics costs and improve project economics beyond the PEA assumptions.

Valuation Context and Share Structure

At a gold price of US$4,500 per ounce, the PEA shows after-tax NPV rising to C$2.996 billion and IRR reaching 52%. These sensitivities illustrate the leverage available to shareholders as metal prices advance. Separate August 12 market data placed gold at US$4,411.31 per ounce, a 0.94% daily increase.

White Gold Corp. maintains a market capitalization of approximately C$339 million with 222.96 million shares outstanding. ¹Institutional ownership stands at 5.54% while management and insiders hold 17.45%.

Common Questions from Investors

What production profile does the PEA assume? Average annual output of 188,000 ounces over 9.4 years, with 223,000 ounces per year in the first five years after pre-stripping.

How sensitive are economies to the gold price? At US$4,500 gold, the after-tax NPV increases to C$2.996 billion, and IRR rises to 52% with payback shortening to 1.3 years.

What portion of resources remains outside the current mine plan? Roughly one-third of current ounces, including the QV deposit, sit outside the PEA pit shells and offer clear expansion targets.

What are the next steps after the PEA? Ongoing 2026 drilling, additional metallurgical work at Arc and Ryan’s Surprise, and initiation of environmental baseline studies ahead of potential permitting.

The White Gold Project PEA provides retail investors with a transparent starting point for evaluating a Yukon gold asset that retains meaningful growth optionality at current resource levels.

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