Mr. Sandeep Singh reports

WESTERN COPPER AND GOLD ANNOUNCES UPSIZED C$80 MILLION BOUGHT DEAL FINANCING

Western Copper and Gold Corp., due to significant investor demand, has entered into an amended agreement with Stifel Canada, on its own behalf and on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 19,277,500 common shares of the company at a price of $4.15 per common share for gross proceeds to the company of approximately $80,001,625.

The company has granted the underwriters an option, exercisable, in whole or in part, at any time until and including 30 days following the closing of the offering, to purchase up to an additional 2,891,625 common shares of the offering. If this option is exercised in full, an additional $12,000,243.75 in gross proceeds will be raised pursuant to the offering and the aggregate gross proceeds of the offering will be approximately $92,001,869.

The company plans to use the net proceeds from the offering to advance permitting and engineering activity at the company's Casino project in Yukon, and for general corporate and working capital purposes.

The offering will be made by way of a short form prospectus filed in all of the provinces of Canada, except Quebec, and in the United States pursuant to a prospectus filed as part of a registration statement on Form F-10 under the Canada/U.S. multijurisdictional disclosure system. The prospectus and the registration statement are subject to completion and amendment. Such documents contain important information about the offering.

The registration statement relating to the common shares has been filed with the United States Securities and Exchange Commission but has not yet become effective. The common shares to be sold pursuant to the offering described in this news release may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Before readers invest, they should read the prospectus in the registration statement and other documents the company has filed with Canadian regulatory authorities and the United States Securities and Exchange Commission for more complete information about the company and the offering. The prospectus is available on SEDAR+. The registration statement is available on EDGAR. Alternatively, the prospectus and the registration statement may be obtained, for free upon request, from Stifel Canada at 161 Bay St., Suite 3800, Toronto, Ont., Canada, M5J 2S1, or by e-mail at syndprospectus@stifel.com.

The offering is scheduled to close on or about Feb. 26, 2026, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the NYSE American, and the applicable securities regulatory authorities.

About Western Copper and Gold Corp.

Western Copper is advancing the Casino project, Canada's premier copper-gold mine in the 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.