Mr. Sandeep Singh reports

WESTERN COPPER AND GOLD ANNOUNCES UPSIZE IN BOUGHT DEAL PUBLIC OFFERING TO $40 MILLION

Western Copper and Gold Corp. has entered into an amended agreement with Eight Capital, on behalf of a syndicate of underwriters under which the underwriters have agreed to buy from the company, on a bought deal basis, 21,055,000 common shares of the company at a price of $1.90 per common share for gross proceeds of $40,004,500. The company has granted the underwriters an overallotment option to purchase up to an additional 3,158,250 common shares, representing 15 per cent of the offering, to cover overallotments, if any, and for market stabilization purposes, exercisable at any time up to 30 days after the closing of the offering.

The net proceeds from the sale of the common shares are expected to be used to advance permitting and engineering activity at the company's Casino project in the Yukon and for general corporate and working capital purposes.

The offering is expected to close on or about April 30, 2024, and is subject to the company receiving all necessary regulatory approvals, including that of the Toronto Stock Exchange and the NYSE American LLC.

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

We seek Safe Harbor.