2022-12-16 | TSXV:WHG | Press Release

Vancouver, British Columbia–(Newsfile Corp. – December 16, 2022)- Whitehorse Gold Corp.(TSX-V: WHG) (OTCQX: WHGDF) (“Whitehorse Gold” or the “Company”) is pleased to announce the filing of a technical report entitled “Skukum Gold Project Technical Report and Updated Mineral Resource Estimate” with an effective date of October 28, 2022, prepared by P&E Mining Consultants Inc .(the “Technical Report”), following its press release dated November 2, 2022. The technical report has been prepared in accordance with the Canadian Securities Administrators National Instrument 43-101 – Disclosure Standards for Mineral Projects (“NI 43-101”).

A copy of the Technical Report is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.whitehorsegold.ca.

About Whitehorse Gold

Whitehorse Gold is a mineral exploration and development company focused on tin projects in Bolivia and a gold project near Whitehorse, Yukon, Canada. The Company recently signed agreements to acquire up to 100% interest in the Porvenir Project and the SF Tin Project located 70 km southeast of Oruro, Bolivia. The 100% owned Skukum Gold Project is located approximately 84 km by road south of Whitehorse. An independent update of the mineral resource estimate was completed in October 2022. Skukum hosts an Indicated Mineral Resource of 418,000 AuEq ounces and an Inferred Mineral Resource of 517,000 AuEq ounces with average grades of 8.2 and 5.3 g/t AuEq, respectively. From 1986 to 1988 the project produced approximately 80,000 ounces of gold.

Commissioned by Whitehorse Gold Corp.

signed “Gordon Neal”

Gordon Neal, CEO and Director

For more information please contact:

Investor Relations, Whitehorse Gold Corp.,

Telephone: +1 (604)-336-5919

Email: [email protected]

www.whitehorsegold.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, contained in this news release, including but not limited to statements regarding future plans with respect to the Skukum Gold Project, including the proposed updated NI 43-101 technical report, schedule and the contents thereof and other future plans of the company and goals or expectations of the company are forward-looking statements. Estimates of mineral reserves and mineral resources are also forward-looking information because they involve estimates of future developments, including future mineral prices, costs and expenses and the amount of minerals that will be encountered when a property is developed. Forward-looking statements are often, but not always, identified by words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”. , “intends,” “strategies,” “goals,” “goals,” “forecasts,” “goals,” “budgets,” “schedule,” “potential,” or variations thereof, or an indication that specific actions, events, or results “may”, “could”, “would”, “could” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Forward-looking statements are based on management’s beliefs, assumptions, factors and estimates believed to be reasonable at the time the statements are made. Opinions, assumptions, factors and estimates that may prove to be incorrect include, but are not limited to: that market fundamentals will result in continued precious metal demand and prices; that there are no significant disruptions affecting operations, including labor disruptions, supply disruptions, power disruptions, security disruptions, damage to or loss of equipment, whether due to flooding, political changes, property issues, intervention by local landowners, environmental concerns, pandemics (including COVID- 19) or otherwise; that the Company may obtain and maintain regulatory permits, permits and licenses in connection with its current and planned operating, development and exploration activities, including the Skukum Gold Project; that the company will be able to meet its present and future obligations; that the company can comply with environmental, health and safety laws; and the assumptions underlying mineral resource estimates and the realization of such estimates.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information . These risks and other factors include, but are not limited to: the social and economic impact of COVID-19; actual exploration results; changes in project parameters as plans continue to be refined; results of future mineral resource estimates; future metal prices; availability of capital and financing on acceptable terms; general economic, market or business conditions; uninsured risks; regulatory changes; defects of title; timely availability of personnel, material and equipment; accidents or equipment failures; delays in obtaining regulatory approvals; unexpected environmental impacts on operations and costs to address them; and other exploration or other risks set forth herein and from time to time in the Company’s filings with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in the forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from deviate from the expected. There can be no assurance that forward-looking statements will prove to be accurate and accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

Readers are cautioned not to place undue reliance on any forward-looking statements. The Company undertakes no obligation to update any forward-looking statements contained in this press release or incorporated by reference herein, except as required by law.

Cautionary Note for US Investors

The technical and scientific information contained herein was prepared in accordance with NI 43-101, which differs from the standards adopted by the US Securities and Exchange Commission (the “SEC”). Accordingly, the technical and scientific information contained herein, including any estimates of mineral reserves and mineral resources, may not be comparable to similar information disclosed by US companies pursuant to SEC disclosure requirements. Additional information about the Company, including the Company’s annual information form, is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.whitehorsegold.ca.