Mr. Sandeep Singh reports

WESTERN COPPER AND GOLD ANNOUNCES SUBMISSION OF ESE STATEMENT

Western Copper and Gold Corp. has submitted its environmental and socio-economic effect statement for the proposed Casino project to the Yukon Environmental and Socio-economic Assessment Board.

The submission is an important step in the panel review process under the Yukon Environmental and Socio-economic Assessment Act, representing a significant positive step in the permitting process for Casino.

The ESE statement details the assessment of potential project-related and cumulative environmental and socio-economic effects for valued environmental and socio-economic components. With the implementation of a comprehensive suite of environmental management measures, including mitigation measures, management and monitoring plans, and an adaptive management approach, project-related residual effects and any cumulative residual effects were assessed to be not significant across all VESECs.

Shena Shaw, vice-president of environmental and community affairs, commented: "Our submission represents years of careful planning and collaboration and demonstrates that Casino can be advanced in an environmentally and socially responsible manner, with generational benefits for all Yukoners.

"We remain steadfast in our commitment to ongoing collaboration with affected first nations, local communities and the broader public -- an approach that has been foundational to reaching today's milestone."

Sandeep Singh, president and chief executive officer, commented: "Submission of the ESE statement is a major achievement. I commend our team and our external consultants for their diligence in completing this extensive and critical body of work.

"We enter this next phase of assessment with a tremendous amount of scientific research underpinning the project, the highest environmental and socio-economic standards, and an unwavering commitment to responsible resource development in the Yukon. We commit to continuing that rigorous analysis and deepening our collaboration with all Yukoners as we advance through the regulatory process.

"Casino is positioned to play a pivotal role in improving the legacy of mining in the Yukon, enabling benefits that can serve the territory for decades, and becoming a pillar of economic growth and prosperity in the North."

Next steps

After a short review period, YESAB will publish the ESE statement to its on-line registry. The next step will involve a sufficiency check by YESAB's executive committee to confirm that the ESE statement meets the ESE statement guidelines, as well as other preparatory steps by YESAB to formally establish the panel of the board, which will conduct a comprehensive assessment of the project.

Economic impacts of the Casino project

Western engaged MNP, a leading Canadian accounting and consulting firm, to conduct updated economic impact modelling that quantifies Casino's direct, indirect and induced economic effects across Canada.

Study highlights (at $3.60 (U.S.) per pound copper and $1,700 (U.S.) per ounce gold):

• An engine of economic growth: Over its proposed 27-year mine life, Casino is estimated to contribute over $44-billion to Canada's gross domestic product, including over $37-billion in the Yukon -- based on highly conservative long-term commodity prices.
• Significant job creation: Casino will directly employ approximately 700 workers and create an additional 2,000 jobs across suppliers, contractors and local businesses, generating over $12-billion in wages and salaries over the mine life.
• Substantial government revenues: Each year, Casino is forecast to generate $175-million in tax revenue for the government of Yukon and $231-million for the government of Canada.
• Critical mineral production in Canada: Casino is positioned to become one of North America's largest producers of copper and molybdenum -- both included on Canada's official list of critical minerals, with copper designated as one of six priority critical minerals essential for economic growth. Casino would rank as Canada's second-largest copper producer and the country's single largest molybdenum producer, increasing domestic production by 15 per cent and 500 per cent, respectively.

About Western Copper and Gold Corp.

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