White Gold Corp. shareholders have overwhelmingly approved the spin-out of the company’s non-gold critical mineral properties in the Yukon into a dedicated standalone vehicle, W2 Critical Minerals Corp.

Under the transaction structure initially proposed, White Gold will transfer its portfolio of copper, molybdenum, tungsten and other critical mineral assets to W2 in exchange for common shares. These shares will be distributed to White Gold shareholders as a dividend-in-kind on the basis of one W2 share for every five existing common shares held.

A total of 102,459,947 common shares—representing approximately 46.12% of the company's outstanding shares—were voted in person or by proxy at the annual general and special meeting held on August 11, 2026. Following the completion of the transaction and a concurrent financing, White Gold is expected to retain an approximate 19.9% ownership interest in W2.

The transaction remains subject to final court and regulatory approvals, including acceptance from the TSX Venture Exchange. A court hearing to secure the final order is scheduled for August 13, 2026. Once those conditions are satisfied, W2 intends to apply to list its common shares on the TSXV, and White Gold will announce the specific record and payment dates for the distribution. Shareholders must maintain their holdings until the effective date to receive the dividend-in-kind.

"We are very grateful for the overwhelming support of our shareholders for the creation and spinout of W2 Critical Minerals Corp designed to unlock the value of our prospective critical mineral projects within our truly district scale land package in the Yukon's White Gold District and marking another significant milestone for our company in 2026. With three drills now turning for our largest ever diamond drill program across our flagship White Gold project, which ranks among Canada's highest-grade undeveloped open-pit gold resources, designed to further expand our resources and make more new discoveries, the recently announced PEA and various other value creating initiatives, we believe 2026 has the potential to be a transformational year for White Gold, and look forward to providing further updates,"

— David D'Onofrio, Chief Executive Officer, White Gold Corp.

The spin-out allows White Gold to sharpen its operational focus on its flagship White Gold Project. The company holds a land package consisting of 15,364 quartz claims across 21 properties covering 305,102 hectares, representing approximately 40% of the Yukon's emerging White Gold District.

Read the full announcement: White Gold Announces Approval of W2 Critical Minerals Corp Spinout