Mr. Sandeep Singh reports

WESTERN COPPER AND GOLD ANNOUNCES FILING OF FINAL SHORT FORM PROSPECTUS

Further to the news releases dated Feb. 11, 2026, and Feb. 12, 2026, Western Copper and Gold Corp. has filed a final short form prospectus dated Feb. 20, 2026, with the securities commissions in each of the provinces of Canada, except Quebec, in connection with its bought deal public offering of 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 offering is being conducted through a syndicate of underwriters including Stifel Canada, as lead underwriter and sole bookrunner, along with ATB Capital Markets Corp., National Bank Financial Inc., Agentis Capital Markets, BMO Capital Markets, Canaccord Genuity Corp., CIBC World Markets Inc., and H.C. Wainwright & Co. LLC. 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.

Access to the final prospectus and any amendment to the documents are provided in accordance with securities legislation relating to procedures for providing access to a prospectus. The final prospectus is accessible on SEDAR+. An electronic or paper copy of the final prospectus and any amendment may be obtained, without charge, from Stifel Canada by 161 Bay St., Suite 3800, Toronto, Ont., Canada, M5J 2S1, or by e-mail at syndprospectus@stifel.com by providing the contact with an e-mail address or address, as applicable. The final prospectus contains important detailed information about the company and the offering. Prospective investors should read the final prospectus and the other documents the company has filed on SEDAR+ before making an investment decision.

The common shares will also be offered 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 registration statement relating to the common shares has been filed with the U.S. Securities and Exchange Commission. The registration statement is available on EDGAR. Alternatively, the registration statement and the prospectus included therein may be obtained, at no charge 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 registration statement and prospectus included therein contain important detailed information about the company and the offering. Prospective investors should read the registration statement, such prospectus and the other documents the company has filed on EDGAR before making an investment decision.

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.