Dr. Paul West-Sells reports

WESTERN COPPER AND GOLD ANNOUNCES DRILLING PROGRAM AT CASINO AND PROVIDES UPDATE ON GOVERNMENT INFRASTRUCTURE DEVELOPMENT

Western Copper and Gold Corp. has provided an update on its 2023 drilling program at its wholly owned Casino copper-gold project.

The program was developed by Western's technical and sustainability committee, which comprises members from Western, Rio Tinto and Mitsubishi Materials, as outlined in the investor rights agreements entered as part of investments by Rio Tinto Canada and Mitsubishi Materials into Western (see news releases dated May 17, 2021, and March 24, 2023, respectively). The program is outlined as follows.

Metallurgical and infill drilling

A diamond drill program consisting of approximately 2,200 metres of drilling in seven drill holes, ranging from 130 metres to 560 metres in depth, has been initiated. These drill holes are located inside the current pit boundaries and, upon completion, this program is expected to result in the upgrading of some of the indicated resource to the measured resource category.

A metallurgical program, using drill core collected from this program, will commence upon completion of drilling and receipt of assays. The program will focus on developing a more detailed geometallurgical model of the deposit, with a focus on an updated recovery and concentrate model.

Geotechnical and hydrogeological drilling

The program also includes roughly 800 metres of geotechnical and hydrogeological drilling designed by Knight-Piesold Consulting. This will target the ground conditions of the proposed open pit, stockpiles, tailings management facility, heap leaching facility, new airstrip and the proposed Ranney well site.

"This is the first drill program developed by our new combined technical and sustainability committee," said Paul West-Sells, president and chief executive officer. "We are excited to be working with Rio and Mitsubishi and look forward to working with them as this program moves forward."

Infrastructure and government relations

In August, Yukon Premier Ranj Pillai and federal Minister of Innovation, Science and Industry Francois-Philippe Champagne toured Western's Casino copper-gold project while discussing infrastructure development to support Yukon's economic growth. Mr. Pillai stated: "We are committed to responsible mining practices that will contribute positively to the territory's development and long-term prosperity. We look forward to continued work with our federal partners to develop the infrastructure necessary to unlock these opportunities."

Qualified person

Technical information in this news release has been reviewed and approved by Carl Schulze, PGeo, and a qualified person as defined under NI 43-101.

About Western Copper and Gold Corp.

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

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

We seek Safe Harbor.