White Gold Corp. (TSX.V:WGO) entered into a binding letter agreement to acquire the QV Gold Project from Comstock Metals Ltd. (TSX.V:CSL) (“Comstock”) for CAD 2.7 million on January 11, 2019. White Gold Corp. (TSX.V:WGO) signed an agreement to acquire the QV Gold Project from Comstock Metals Ltd. (TSX.V:CSL) (“Comstock”) on February 19, 2019. The purchase consideration will be satisfied by a cash payment of CAD 375,000, the issuance of an aggregate of 1.5 million common shares in White Gold and the issuance of 375,000 share purchase warrants. Each warrant will be exercisable to acquire one additional common share of White Gold for a period of three years from the closing date of the acquisition at an exercise price equal to the greater of CAD 1.5 and the lowest price permitted by the TSX Venture Exchange.

The acquisition remains subject to various closing conditions, including completion by White Gold of satisfactory due diligence, no material adverse change occurring with respect to the project prior to the closing date and receipt of all requisite third-party consents and all other necessary regulatory and other approvals, including, without limitation, the approval of the TSXV. Red Cloud Klondike Strike Inc. acted as financial advisor to Comstock and Folger, Rubinoff LLP acted as Comstock's legal advisor. Cassels Brock & Blackwell LLP acted as legal advisor to White Gold Corp. As an advisor to Comstock on this transaction, Red Cloud is entitled to the payment of advisory fees equal to 5% of the value the transaction up to CAD 2 million and 3.5% of the value of the transaction in excess of CAD 2 million. The fees may be satisfied in part by the receipt of shares and warrants in White Gold Corp.