Dr. Paul West-Sells reports

WESTERN COPPER AND GOLD PROVIDES UPDATE ON THE PORT OF SKAGWAY

Western Copper and Gold Corp. has noted that during the 2023 fall sitting of the Yukon Legislative Assembly, the Yukon government approved $21.4-million for investment in the Municipality of Skagway's redevelopment of its dock infrastructure to include a marine services platform (MSP) to continue to support ore export for the Yukon mining industry.

The approval of this investment follows the Yukon government signing of a term sheet with Skagway on Sept. 7, 2023, outlining the terms and conditions of the investment, proposing an initial 35-year preferential access to the port with an option to extend for another 15 years, as well as a significant investment in the initial engineering of the MSP. The Yukon government is currently working toward finalizing an export co-operation agreement with Skagway.

The MSP at Skagway is located in southeast Alaska and is 560 kilometres from, and is the closest tidewater port to, the Casino project. The Port of Skagway has historically been the preferred port to ship concentrates from the Yukon, and most recently was used to ship copper concentrates from the Minto mine.

"Further investment and commitment from the Yukon government in advancing infrastructure for the mining industry is another step in the right direction to advancing the Casino project," said Dr. Paul West-Sells, president and chief executive officer. "We remain confident that the Casino project is a great asset for the Yukon that will provide benefits to Yukon communities and first nations for generations to come."

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 first nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.

We seek Safe Harbor.