Dr. Paul West-Sells reports

WESTERN COPPER AND GOLD PROVIDES UPDATE ON CASINO ASSESSMENT PROCESS

Western Copper and Gold Corp., through its wholly owned subsidiary Casino Mining Corp., has been informed by the executive committee of the Yukon Environmental and Socio-Economic Assessment Board (YESAB) that the final version of the revised Environmental and Socio-Economic Statement Guidelines for the Casino copper-gold project's review by a panel of the board (the panel review) will be issued by Aug. 17, 2023.

The revised guidelines will incorporate changes in assessment methods, environmental best practices and enhancements to the project that have occurred since the issuance of the original guidelines in 2016 and will include new comments submitted by federal, territorial and first nation governments as well as the broader public.

The guidelines are an important component of the panel review process and outline the structure and scope of the environmental and socioeconomic statement Casino will submit to describe the potential effects of the project, showing stakeholders how the project can be developed in a socially and environmentally responsible way.

The company is currently working on its environmental and socioeconomic statement (ESE statement) and will be able to give guidance on the timing of submittal after receipt of the final guidelines.

"Our environmental team has been working diligently and has a significant summer program planned to finalize data collection in preparation for filing our ESE statement," said Dr. Paul West-Sells, president and chief executive officer. "We continue to work closely with federal, territorial, and first nation governments and stakeholders to ensure that the Casino project will provide a long-lasting benefit to the Yukon."

About Western Copper and Gold Corp.

Western Copper and Gold is developing the Casino project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The company is committed to working collaboratively with the company's first nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.

We seek Safe Harbor.