Newmont Corporation press release

Whitehorse Gold Announces Stock Option Cancellation

2022-03-31

NYSE - New York Stock Exchange · Gold · Silver · Lead · Zinc · Copper · United States · Management & Governance

Vancouver, British Columbia--(Newsfile Corp. - March 31, 2022) - Whitehorse Gold Corp.(TSXV: WHG) (OTCQX: WHGDF) ("Whitehorse Gold" or the "Company") announces that the Company has cancelled an aggregate of 1,475,000 stock options (the "Cancelled Options") previously held by certain directors, officers, consultants and employees of the Company.

The terms of Cancelled Options were as follows:

| Number of Cancelled Options | Original Date of Grant | Expiry Date | Exercise Price | | 1,475,000 | February 25, 2022 | February 24, 2027 | $0.50 |

Under the Company's rolling 10% incentive stock option plan (the "Plan"), the Company may grant up to an aggregate of 5,296,492 stock options. Upon completion of the cancellation, the Company will have 2,612,499 stock options outstanding under the Plan.

ABOUT WHITEHORSE GOLD CORP.

Whitehorse Gold is a responsible mineral exploration and development company focused on its 170-square-km Project located in southern Yukon, approximately 55 km south-southwest of Whitehorse. The Project hosts the advanced-stage Skukum Creek and Goddell deposits, and the formerly producing Mt. Skukum high-grade gold mine, all of which remain open for expansion, plus additional untested mineralized occurrences. Project infrastructure includes an all-weather access road, a 50-person camp, approximately 6 kms of underground development, and a previously operating 300-tpd mill and associated support facilities. Underground operations by a previous operator at Mt. Skukum from 1986 to 1988 saw 233,400 tons of ore mined and processed to recover approximately 79,750 ounces of gold (Total Energold Corporation, 1989). The Company is also reviewing other mining assets in jurisdictions that provide year round access.

On Behalf of Whitehorse Gold Corp. signed"Gordon Neal" Gordon Neal, CEO & Director

For further information please contact: Investor Relations, Whitehorse Gold Corp. Phone: 604-336-5919 Email: info@whitehorsegold.ca 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 news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118702