Dore Copper Announces Shareholder Approval of Plan of Arrangement with Cygnus Metals

Dore Copper Announces Shareholder Approval of Plan of Arrangement with Cygnus Metals

Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce that, at the special meeting (the " Meeting ") of shareholders of Doré Copper (" Doré Copper Shareholders ") held earlier today, Doré Copper Shareholders overwhelmingly voted in favour of approving the special resolution (the " Arrangement Resolution ") authorizing the previously announced plan of arrangement (the " Arrangement ") ( news release October 15, 2024 ) whereby Cygnus Metals Limited (" Cygnus "), through its wholly-owned subsidiary, 1505901 B.C. Ltd., will acquire all of the issued and outstanding common shares in the capital of Doré Copper (the " Doré Copper Shares ") and, in exchange, Doré Copper Shareholders will receive 1.8297 ordinary shares in the capital of Cygnus (the " Cygnus Shares ") for each Doré Copper Share held.

Doré Copper would like to thank its shareholders for their overwhelming support of the combination of Cygnus and Doré Copper to create a Québec-focused critical minerals explorer and developer with high-grade copper and lithium resources.

At the Meeting, the Arrangement Resolution was approved by (i) approximately 100% of the votes cast by Doré Copper Shareholders present in person or represented by proxy and entitled to vote, and (ii) approximately 100% of the votes cast by the minority Doré Copper Shareholders present in person or represented by proxy and entitled to vote, which excluded the votes cast in respect of the Doré Copper Shares beneficially owned, or over which control or direction is exercised, by Mario Stifano, Ernest Mast and Ocean Partners Holdings Limited, as determined in accordance with Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions . A total of 121,067,401 Doré Copper Shares were voted at the Meeting, representing approximately 71.50% of the issued and outstanding Doré Copper Shares as of the record date of November 13, 2024.

Assuming that all remaining approvals are obtained and all other remaining conditions precedent to the completion of the Arrangement are satisfied or waived, Doré Copper anticipates that the Arrangement will be completed on or about December 31, 2024. Completion of the Arrangement remains subject to, among other things, satisfaction of all conditions precedent to the completion of the Arrangement, including the final approval of the Ontario Superior Court of Justice and the approval for listing of the Cygnus Shares on the TSX Venture Exchange (the " TSXV "). The hearing for the final order of the Ontario Superior Court of Justice to approve the Arrangement is scheduled to take place on December 19, 2024.

Further details regarding the Arrangement are set out in the management information circular of Doré Copper dated November 13, 2024, which is available on SEDAR+ ( www.sedarplus.ca ) under Doré Copper's issuer profile.

About Doré Copper Mining Corp.

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill 1 . Doré Copper has delivered its PEA in May 2022 and is proceeding with a feasibility study. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. 2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of Doré Copper's Copper Rand Mill.

For further information about Doré Copper, please contact:

Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: ernest.mast@dorecopper.com Email: laurie.gaborit@dorecopper.com

Visit: www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the proposed Arrangement and the terms thereof, the completion of the Arrangement, including, receipt of all necessary court and regulatory approvals and timing thereof, the listing of the Cygnus Shares on the TSXV, and the plans, operations and prospects of Doré Copper and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability to obtain approvals in respect of the Arrangement and to consummate the Arrangement, the ability to obtain approvals for the listing of the Cygnus Shares on the TSXV, integration risks, actual results of current and future exploration activities, benefit of certain technology usage, the ability of prior successes and track record to determine future results, changes in project parameters and/or economic assessments, availability of capital and financing on acceptable terms, general economic, market or business conditions, future prices of metals, uninsured risks, risks relating to estimated costs, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by Doré Copper with securities regulators. Although Doré Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Doré Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


1 Technical report titled "Preliminary Economic Assessment for the Chibougamau Hub-and-Spoke Complex, Québec, Canada" dated June 15, 2022, in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101 "). The Technical Report was prepared by BBA Inc. with several consulting firms contributing to sections of the study, including SLR Consulting (Canada) Ltd., SRK Consulting (Canada) Inc. and WSP Inc.
2 Sources for historic production figures: Economic Geology, v. 107, pp. 963–989 - Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada by François Leclerc et al. (Lac Dore/Chibougamau mining camp) and NI 43-101 Technical Report on the Joe Mann Property dated January 11, 2016 by Geologica Groupe-Conseil Inc. for Jessie Ressources Inc. (Joe Mann mine).


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Cygnus increases highly prospective, under-explored ground position by 50%

Cygnus increases highly prospective, under-explored ground position by 50%

Chibougamau Copper-Gold Project, Canada

Two diamond drill rigs about to arrive on site as part of strategy to grow the resource and test brownfield exploration targets

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Cygnus and Doré Copper Complete Merger

Cygnus and Doré Copper Complete Merger

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Dore Copper Announces Filing and Mailing of Management Information Circular in Connection with Special Meeting and Encourages Shareholders to Access Meeting Materials Electronically

Dore Copper Announces Filing and Mailing of Management Information Circular in Connection with Special Meeting and Encourages Shareholders to Access Meeting Materials Electronically

Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) today announced that it has filed and is in the process of mailing the management information circular (the " Circular ") and related materials for the special meeting (the " Meeting ") of shareholders of Doré Copper (" Doré Copper Shareholders ") to be held December 16, 2024. At the Meeting, Doré Copper Shareholders will be asked to consider and vote on a special resolution (the " Arrangement Resolution ") approving a statutory plan of arrangement (the " Plan of Arrangement ") pursuant to Section 192 of the Canada Business Corporations Act (the " Arrangement "), subject to the terms and conditions of an arrangement agreement dated October 14, 2024 (the " Arrangement Agreement ") entered into among Doré Copper, Cygnus Metals Limited (" Cygnus ") and 1505901 B.C. Ltd., a wholly owned subsidiary of Cygnus, all as more particularly described in the Circular.

The board of directors of Doré Copper (the " Doré Copper Board ") and the special committee of independent directors established by the Doré Copper Board (the " Special Committee ") have unanimously determined that the Arrangement is in the best interests of Doré Copper and that the Arrangement is fair to the Doré Copper Shareholders. The Special Committee and the Doré Copper Board reviewed and considered a significant amount of information and considered a number of factors relating to the Arrangement, with the benefit of advice from Doré Copper's management, and the financial and legal advisors of the Special Committee and the Doré Copper Board. The Special Committee unanimously recommended that the Doré Copper Board recommend to Doré Copper Shareholders that they vote FOR the Arrangement Resolution. The Doré Copper   Board unanimously recommends that Doré Copper   Shareholders vote   FOR   the Arrangement Resolution. See pages 33 to 36 of the Circular for a detailed description of the " Reasons for the Arrangement ".

In accordance with the interim order granted by the Ontario Superior Court of Justice (Commercial List) on November 12, 2024, providing for the calling and holding of the Meeting and other procedural matters relating to the Arrangement, the Arrangement can only proceed if, among other conditions, it receives the approval of not less than two-thirds (66⅔%) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting and not less than a majority (50% + 1) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting excluding the votes cast by certain interested or related parties or joint actors of Doré Copper in accordance with the minority approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions .

Under the Arrangement Agreement, the parties have agreed to effect the Arrangement, pursuant to which Cygnus will indirectly acquire all of the issued and outstanding common shares in the capital of Doré Copper (" Doré Copper Shares "), and Doré Copper Shareholders will be entitled to receive, for each Doré Copper Share held immediately prior to the effective time of the Arrangement (the " Effective Time "), 1.8297 fully paid ordinary shares (the " Consideration ") in the capital of Cygnus (each one whole share, a " Cygnus Share ").

As a result of, and immediately following the completion of, the Arrangement, Doré Copper will be an indirect wholly-owned subsidiary of Cygnus and the former Doré Copper Shareholders will be entitled to receive the Consideration for each Doré Copper Share previously held by them immediately prior to the Effective Time (subject to rounding, as provided for in the Plan of Arrangement).

Cygnus has applied for its Cygnus Shares to be listed on the TSX Venture Exchange (the " TSXV "). It is a condition of closing that Cygnus shall have received conditional listing approval from the TSXV to list the Cygnus Shares on the TSXV. Listing of the Cygnus Shares on the TSXV will be subject to Cygnus receiving approval from, and fulfilling all of the minimum listing requirements of, the TSXV.

Meeting and Circular

The Meeting of the Doré Copper Shareholders will be held at the offices of Bennett Jones LLP located at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario, M5X 1A4 on December 16, 2024 at 12:00 p.m. (Toronto time). Doré Copper Shareholders of record as of the close of business on November 13, 2024 are entitled to receive notice of and to vote at the Meeting. Doré Copper Shareholders are urged to vote before the proxy deadline of 12:00 p.m. (Toronto time) on December 12, 2024.

The Circular provides important information on the Arrangement and related matters, including the background of the Arrangement, the rationale for the recommendations made by the Special Committee and the Doré Copper Board, and voting procedures. Doré Copper Shareholders are urged to read the Circular and its appendices carefully and in their entirety. The Circular is being mailed to Doré Copper Shareholders in compliance with applicable Canadian securities laws. The Circular is available under Doré Copper's profile on SEDAR+ at www.sedarplus.ca and on Doré Copper's website at www.dorecopper.com .

Impact of Canada Post Labour Strike

Due to the ongoing Canada Post labour strike, it is possible that Doré Copper Shareholders may experience a delay in receiving the Circular and related materials in respect of the Meeting. Doré Copper Shareholders are encouraged to access the Circular and related materials electronically as noted above. Registered holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials may contact Computershare Investor Services Inc. at 1-800-564-6253 to obtain their individual control numbers in order to vote their Doré Copper Shares. Registered holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.investorvote.com or via telephone at 1-866-732-VOTE (8683). Registered holders of Doré Copper Shares are also encouraged to complete and return letters of transmittal by hand or by courier to ensure the appropriate documents are received in a timely manner. Beneficial holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials should contact their broker or other intermediary for assistance in obtaining their individual control numbers in order to vote their Doré Copper Shares. Beneficial holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.proxyvote.com or via telephone at 1-800-474-7493 (English) or 1-800-474-7501 (French). It is recommended that any physical forms of proxy or voting instruction forms be delivered via courier to ensure that they are received in a timely manner.

Registered holders of Doré Copper Shares who wish to exercise their dissent rights in connection with the Arrangement are also cautioned to deliver their written objection to Doré Copper by mail using a method other than Canada Post or by facsimile transmission in accordance with the instructions set forth in the Circular to ensure that they are received in a timely manner.

Other Matters

Agreement with SOQUEM

Further to its news release dated July 3, 2024, on July 2, 2024, Doré Copper issued 1,190,476 Doré Copper Shares to SOQUEM at a deemed price of $0.105 per Doré Copper Share in connection with its acquisition of a 56.41% interest in a group of contiguous claims located immediately north and east of its flagship high-grade Corner Bay copper project in the Chibougamau mining camp.

About Doré Copper Mining Corp.

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill 1 . Doré Copper has delivered its PEA in May 2022 and is proceeding with a feasibility study. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. 2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of Doré Copper's Copper Rand Mill.

About Cygnus Metals

Cygnus Metals Limited (ASX: CY5) is an emerging exploration company focused on advancing the Pontax Lithium Project (earning up to 70%), the Auclair Lithium Project and the Sakami Lithium Project in the world class James Bay lithium district in Québec, Canada. In addition, Cygnus has REE and base metal projects at Bencubbin and Snake Rock in Western Australia. The Cygnus Board of Directors and Technical Management team have a proven track record of substantial exploration success and creating wealth for shareholders and all stakeholders in recent years. Cygnus' tenements range from early-stage exploration areas through to advanced drill-ready targets.

For further information about Doré Copper, please contact:

Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: ernest.mast@dorecopper.com Email: laurie.gaborit@dorecopper.com

Visit: www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the proposed Arrangement and the terms thereof, the completion of the Arrangement, including receipt of all necessary court, shareholder and regulatory approvals and timing thereof, the listing of the Cygnus Shares on the TSXV, and the plans, operations and prospects of Doré Copper and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability to obtain approvals in respect of the Arrangement and to consummate the Arrangement, the ability to obtain approvals for the listing of the Cygnus Shares on the TSXV, integration risks, actual results of current and future exploration activities, benefit of certain technology usage, the ability of prior successes and track record to determine future results, changes in project parameters and/or economic assessments, availability of capital and financing on acceptable terms, general economic, market or business conditions, future prices of metals, uninsured risks, risks relating to estimated costs, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by Doré Copper with securities regulators. Although Doré Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Doré Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Doré Copper Provides Update on Arrangement Agreement With Cygnus Metals

Doré Copper Provides Update on Arrangement Agreement With Cygnus Metals

Not for distribution to United States news wire services or for dissemination in the United States

Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce, further to its news release dated October 15, 2024, an update on the definitive arrangement agreement (the " Agreement ") with Cygnus Metals Limited (ASX: CY5) (" Cygnus ") pursuant to which Cygnus has agreed to acquire 100% of the issued and outstanding common shares of Doré Copper (the " Doré Copper Shares ") by way of a court approved plan of arrangement under the Canada Business Corporation Act (the " Transaction ").

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Canadian Investment Regulatory Organization Trade Resumption - DCMC

Canadian Investment Regulatory Organization Trade Resumption - DCMC

Trading resumes in:

Company: Dore Copper Mining Corp.

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Cygnus Starts Trading on OTCQB Market

Cygnus Starts Trading on OTCQB Market

HIGHLIGHTS:

  • Cygnus' common shares have qualified to trade on the OTCQB ® Venture Market ("OTCQB"), a U.S. marketplace operated by OTC Markets Group Inc. (the "OTC"),
  • Trading commences today under the ticker "CYGGF"

Cygnus Metals Limited (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) ("Cygnus" or the "Company") is pleased to announce that its common shares have qualified to trade on the OTCQB ® Venture Market ("OTCQB"), a U.S. marketplace operated by OTC Markets Group Inc. (the "OTC"), and will commence trading today under the symbol "CYGGF". The common shares of the Company will continue to trade on the ASX and TSX Venture Exchange.

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WESTERN COPPER AND GOLD PROVIDES POSITIVE METALLURGICAL UPDATE

WESTERN COPPER AND GOLD PROVIDES POSITIVE METALLURGICAL UPDATE

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce results from a supplemental metallurgical program (the "Metallurgical Program") for its wholly owned Casino Copper-Gold Project (" Casino ").

Western Copper and Gold Corporation Logo (CNW Group/Western Copper and Gold Corporation)

The Metallurgical Program used drill core composites of material representing potential mill feed taken from the 2023 diamond drilling program with more variable copper, gold, and molybdenum levels than had been tested in previous drill campaigns and from a broader period of planned mining.

Attractive Recoveries – Standard processing methods continue to produce good recoveries for copper and gold, consistent with previous metallurgical work. The program achieved significantly higher recoveries for molybdenum (approximately 90% in hypogene material versus overall 71% in the Feasibility Study).

High Grade Concentrates with Low Impurities Casino would produce a high gold grade copper concentrate and a separate molybdenum concentrate. Both are expected to be highly marketable given the very low levels of impurities.

Further Potential Upside – Primary grind size for Casino is expected to be 210μm which compares quite favorably versus other similar projects.  Initial coarse particle separation tests, conducted during this program, suggest an opportunity to further increase primary grind size without sacrificing recoveries.

"The latest metallurgical testing complements the work released in 2023 and now creates a fairly comprehensive picture of the attractive recoveries and metallurgical characteristics of the Casino Project. The project has the ability to produce highly sought after, high-grade concentrates into a market experiencing significant tightness, especially for cleaner concentrates such as those from Casino ." said Sandeep Singh , President and CEO.

Metallurgical Program

The outline of the Metallurgical Program and the review of the results were developed by Western's Technical and Sustainability Committee, which is comprised of members from Western, Rio Tinto and Mitsubishi Materials.

The fifteen composites of approximately 200 kg were subjected to detailed mineralogy, comminution testing, flotation testing and detailed analysis of copper concentrates. Composite preparation and all metallurgical test work was completed at ALS Metallurgy in Kamloops, B.C.

Table 1 shows the analysis of the composites and their associated lithology, either Supergene Sulphide (SUS) or Hypogene (HYP). The target composition was achieved for all composites except Composite 14, which contained very low grades and was subject to limited testing. Composite 8 was also excluded from the results below, as it was intentionally selected as an outlier to maximize deleterious content.

Casino has two main copper-gold zones, the Supergene Sulphide Zone which represents about 25% of the resource and the Hypogene Zone, which represents about 70% of the resource. The remaining 5% of the resource is represented by oxide materials.

Table 1 – Composites Used in Metallurgical Program

Composite

Zone

Cu

Cu (WAS) 1

Au

Mo

( %)

( %)

(g/t)

( %)

1

SUS

0.26

0.023

0.40

0.015

2

HYP

0.10

0.001

0.12

0.002

3

SUS

0.29

0.016

0.38

0.018

4

HYP

0.26

0.005

0.35

0.021

5

HYP

0.17

0.003

0.20

0.013

6

HYP

0.12

0.002

0.13

0.008

7

SUS

0.25

0.025

0.25

0.005

8

HYP

0.25

0.003

0.31

0.013

9

HYP

0.24

0.003

0.34

0.027

10

HYP

0.16

0.003

0.18

0.015

11

SUS

0.29

0.036

0.17

0.029

12

SUS

0.37

0.046

0.44

0.029

13

SUS

0.31

0.071

0.40

0.011

14

HYP

0.06

0.004

0.08

0.009

15

SUS

0.22

0.025

0.16

0.004


1 Cu (WAS) is the percentage of copper in the composite determined by weak acid soluble copper analysis

Flotation Test Results

Casino proposes using flotation to produce saleable copper-gold and molybdenum concentrates using an industry standard process flowsheet. Gold values are expected to be recovered within a copper concentrate and be payable under typical copper concentrate smelting terms and molybdenum is separated from a bulk copper-molybdenum concentrate to produce separate copper and molybdenum concentrates.

Table 2 depicts metallurgical recoveries obtained for hypogene composites using locked cycle testing. Hypogene samples demonstrate consistently high copper recoveries and very good quality copper concentrates. An average molybdenum recovery to a bulk copper-molybdenum concentrate of 90%, significantly higher than previous testing, was achieved for the hypogene composites without including Composite 2, which had a very low molybdenum head grade.

Table 2 – Summary of Locked-Cycle Flotation Results for Hypogene Composite Samples

Composite

Copper Concentrate Grade

Recoveries to Concentrate

Cu (%)

Au (g/t)

Cu (%)

Mo (%)

Au (%)

2

24.4

16.1

85.5

54.3

53.7

4

27.7

27.3

87.8

90.2

63.2

5

26.2

21.7

86.9

90.9

61.7

6

26.9

20.0

87.5

84.9

60.7

9

28.2

27.2

88.8

94.5

63.0

10

26.5

23.3

82.9

89.9

53.3

Table 3 shows locked cycle test results for supergene sulphide samples. Copper concentrate grade does not appear to be significantly impacted when processing supergene sulphide weathered materials. The reduction in overall copper recovery in flotation is a function of the weak acid soluble copper content (shown in Table 1) and is in line with previous test work. Molybdenum and gold recoveries are similar to previous test work.

Table 3 – Summary of Locked-Cycle Flotation Results for Supergene Sulphide Composite Samples

Composite

Copper Concentrate Grade

Recoveries to Concentrate

Cu (%)

Au (g/t)

Cu (%)

Mo (%)

Au (%)

1

26.7

32.2

76.5

74.2

58.8

3

28.8

32.8

77.0

85.3

59.6

7

19.3

13.5

83.4

74.3

62.5

11

27.6

13.5

79.6

76.4

57.6

12

27.7

26.2

87.0

86.7

62.9

13

18.1

17.8

73.6

86.4

58.6

15

27.4

20.9

71.0

34.4

58.6

Copper Concentrate Quality

The flotation concentrates produced from Casino continue to demonstrate very good grades in terms of copper and gold, as well as low levels of potential penalty elements. Table 4 shows a summary of copper concentrates produced from the recent test work, including key elements relevant to smelter terms. Average values for penalty elements, including As, Sb, Hg and F are shown to be well below typical smelter contract terms.

Table 4 – Casino Concentrate Analysis

Composite

Copper Concentrate Grades

Smelter Sensitive Elements

Cu (%)

Au (g/t)

As (%)

Sb (%)

Hg (g/t)

F (g/t)

1

26.7

32.2

0.01

0.00

0.33

50

2

20.3

13.6

0.17

0.09

0.12

140

3

28.8

32.8

0.02

0.00

0.04

70

4

29.1

26.5

0.01

0.00

0.02

60

5

29.7

22.3

0.01

0.00

0.02

60

6

29.4

18.7

0.03

0.01

0.03

60

7

19.3

13.5

0.20

0.06

0.59

70

9

30.1

28.7

0.34

0.09

0.13

90

10

26.2

22.1

0.07

0.17

0.23

90

11

27.6

13.5

0.01

0.00

0.23

70

12

27.7

26.2

0.18

0.11

0.47

100

13

18.1

17.8

0.03

0.01

0.27

70

15

27.4

20.9

0.18

0.05

0.86

290

Coarse Particle Separation Testing

A hypogene master composite was prepared for coarse particle flotation to test the impact on recoveries while increasing the primary grind size. In a single test, the grind size was increased from the project baseline of 210μm to 292μm with no significant change in overall copper and gold recoveries, and a small reduction in molybdenum recovery. The initial testing was promising and warrants future testing and evaluation.

Qualified Persons

The metallurgical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 Standards of Disclosures for Minerals Projects of the Canadian Securities Administrators ("NI 43-101") and supervised, reviewed, and verified by Jeffrey B. Austin , P.Eng., President of International Metallurgical and Environmental Inc., a "Qualified Person" as defined by NI 43-101.

ABOUT western copper and gold corporation

western copper and gold corporation 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.  For more information, visit www.westerncopperandgold.com .

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.

On behalf of the board,

"Sandeep Singh"

Sandeep Singh
President and CEO
western copper and gold corporation

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "opportunities", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Such forward-looking statements herein include statements regarding the expected metallurgical performance, the marketability of the concentrates, the potential for further process optimization through grind size adjustments, and the broader market outlook for copper and molybdenum concentrates. These statements are based on current test results and interpretations, which may evolve as further metallurgical work is conducted.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the risk of unforeseen challenges in advancing the Casino project, potential impacts on operational continuity, changes in general market conditions that could affect the Company's performance; and other risks and uncertainties disclosed in the Company's annual information form and Form 40-F for the most recently completed financial year and its other publicly filed disclosure documents.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to current metallurgical test results being representative of future recoveries, the availability of market demand for copper and molybdenum concentrates, and such other assumptions and factors as set out herein, and in the Company's annual information form and Form 40-F for the most recently completed financial year and its other publicly filed disclosure document.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, other factors may cause results to be materially different from those anticipated, described, estimated, assessed or intended. These forward-looking statements represent the Company's views as of the date of this news release. There can be no assurance that any forward-looking statements will be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend to and does not assume any obligation to update forward-looking statements other than as required by applicable law.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/western-copper-and-gold-provides-positive-metallurgical-update-302376534.html

SOURCE western copper and gold corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2025/13/c4898.html

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