WESTERN COPPER AND GOLD ANNOUNCES POSITIVE FEASIBILITY ON CASINO

WESTERN COPPER AND GOLD ANNOUNCES POSITIVE FEASIBILITY ON CASINO

 
 

   $2.3 billion After-Tax NPV (8%) at Base Case metal prices
  After-Tax IRR 18.1% at Base Case metal prices
  Cashflow over the first four years of $951 million per year at Base Case metal prices  

 

  Base Case development contemplates 27-year mine life
  Base Case metal prices:  Cu: US$3.60 /lb, Au: US$1,700 /oz, Ag: US$22 /oz, Mo: US$14 /lb  

 

Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE: WRN) is pleased to release the results of its Feasibility Study (the "Study") on its wholly-owned Casino copper-gold-molybdenum deposit in the Yukon, Canada ("Casino" or the "Project").  The Study considered the Project being constructed as an open pit mine, with a concentrator processing 120,000 tonnes per day (td) to recover copper, gold, molybdenum and silver, as well as a 25,000 td oxide heap leach facility to recover gold, silver and copper.

 

 

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

 
 

The Study supersedes all previous studies and incorporates an updated mineral resource and mineral reserve with an effective date of April 29 , 2022.  The Study examines the development of the Casino Project, which comprises the processing of 1.43 billion tonnes of Mineral Reserve for both the mill and heap leach, with deposition of mill tailings and mine waste in the Tailings Management Facility ("TMF") consistent with the design concepts considered during the Best Available Tailings Technology ("BATT") Study as a base case development.

 

"The results from the Feasibility Study confirm the project's robustness and ability to withstand inflationary pressures.", said Paul West-Sells , President & Chief Executive Officer. "This Study reaffirms Casino as one of the very few long-life copper-gold projects with robust economics in a top mining district, the Yukon.  We are continuing to collaborate with our strategic investor, Rio Tinto, and continue to engage with First Nations and community stakeholders to advance this project toward the submission of Casino's Environmental and Socio-Economic statement in mid-2023."

 

In this news release, unless otherwise indicated, all references to "$" are to Canadian dollars and references to "US$" are to United States dollars.

 
  HIGHLIGHTS  
 
 
                                        
 
 

   Base Case*   

 
 

   Payback period, years   

 
 

  3.3  

 
 
 
 

   NPV pre-tax (8% discount)   

 
 

  $3.47 billion  

 
 

   NPV after-tax (8% discount)   

 
 

  $2.33 billion  

 
 
 
 

   LOM pre-tax free cash flow   

 
 

  $13.71 billion  

 
 

   LOM after-tax free cash flow   

 
 

  $10.02 billion  

 
 
 
 

   IRR pre-tax (100% equity)   

 
 

  21.2 %  

 
 

   IRR after-tax (100% equity)   

 
 

  18.1 %  

 
 
 
 

   Initial Capital Investment   

 
 

  $3.62 billion  

 
 

   Total Reserve   

 
 

  1.4 billion tonnes  

 
 

   Mill Reserve   

 
 

  1.2 billion tonnes  

 
 

   Heap leach Reserve   

 
 

  210 million tonnes  

 
 
 
 

   Mill operation   

 
 

  27 years  

 
 

   Heap leach operation   

 
 

  24 years  

 
 

   LOM strip ratio   

 
 

  0.43:1  

 
 
 

Base Case metal prices: Cu: US$3.60 /lb, Au: US$1,700 /oz, Ag: US$22 /oz, Mo: US$14 /lb.

 
  KEY CHANGES FROM PRELIMINARY ECONOMIC ASSESSMENT  
 

The Study in general took the design from the 2021 Preliminary Economic Assessment ("PEA") and brought the engineering to a Feasibility Study level; however, there are some notable changes from the PEA.

 

  Heap Leach Operation  

 

Metallurgical results obtained in 2021 indicated that gold recovery from the heap leach could be increased from 70% as outlined in the PEA to 80% by crushing the ore going to the heap leach to a p80 of 16 mm.  This updated gold recovery and crush size have been incorporated in the Feasibility Study along with additional capital for the crushing circuit.

 

This change, along with minor changes in grades and tonnage reporting to the heap leach pad, resulted in 20% greater gold predicted to be recovered through the heap leach circuit.

 

  Milling Operation  

 

Minor changes to the grades in tonnage treated through the mill resulted in 4.4% greater metal production predicted to be recovered through the heap leach circuit as compared to the PEA.

 

  Cost Escalation  

 

Due to inflation over the past 12 months since the PEA was issued, there were cost increases to certain capital and operating cost inputs.  Items of particular note were diesel price, which saw a price increase of 40.3%, and steel, reflected by a price increase in grinding media of 33.2%.

 
  FINANCIAL RESULTS  
 

The Study indicates that the potential economic returns from the Project justify its further development and securing of the required permits and licenses for operation.

 

The financial results of the Study were developed under commodity prices that were based on analyst projections of long-term metal prices and a CAN$:US$ exchange rate of 0.80 ("Base Case" prices).

 

The following table summarizes the financial results:

 
 
                                                
 
 

   Base Case   

 
 

   Copper (US$/lb)  

 
 

  3.60  

 
 

   Gold (US$/oz)  

 
 

  1,700  

 
 

   Molybdenum (US$/lb)  

 
 

  14.00  

 
 

   Silver (US$/oz)  

 
 

  22.00  

 
 

   Exchange Rate (C$:US$)  

 
 

  0.80  

 
 
 
 

   NPV pre-tax (5% discount, $millions)  

 
 

  5,768  

 
 

   NPV pre-tax (8% discount, $millions)  

 
 

  3,473  

 
 

   IRR pre-tax (100% equity)  

 
 

  21.2  

 
 
 
 

   NPV after-tax (5% discount, $millions)  

 
 

  4,059  

 
 

   NPV after-tax (8% discount, $millions)  

 
 

  2,334  

 
 

   IRR after-tax (100% equity)  

 
 

  18.1  

 
 
 
 

   LOM pre-tax free cash flow ($millions)  

 
 

  13,713  

 
 

   LOM after-tax free cash flow ($millions)  

 
 

  10,019  

 
 
 
 

   Payback period (years)  

 
 

  3.3  

 
 

   Net Smelter Return ($/t milled)  

 
 

  29.08  

 
 
 
 

   Copper Cash Cost (net of by-product credits) ($/lb)  

 
 

  (1.00)  

 
 

   Copper Cash Cost (co-product basis) ($/lb)  

 
 

  1.92  

 
 

   Gold Cash Cost (co-product basis) ($/oz)  

 
 

  908.53  

 
 
 

The financial results of the Study are significantly influenced by copper and gold prices, as is shown in the tables below:

 
 
                                          
 

   Copper Price (US$/lb)*   

 
 

   $3.00   

 
 

   $3.50   

 
 

   $3.60   

 
 

   $4.00   

 
 

   $4.50   

 
 

   $5.00   

 
 

  NPV pre-tax (8%) ($M)  

 
 

  2,547  

 
 

  3,318  

 
 

   3,473   

 
 

  4,090  

 
 

  4,862  

 
 

  5,634  

 
 

  NPV after-tax (8%) ($M)  

 
 

  1,655  

 
 

  2,221  

 
 

   2,334   

 
 

  2,786  

 
 

  3,351  

 
 

  3,917  

 
 

  IRR pre-tax  

 
 

  18.2 %  

 
 

  20.7 %  

 
 

   21.2 %   

 
 

  23.0 %  

 
 

  25.3 %  

 
 

  27.4 %  

 
 

  IRR after-tax  

 
 

  15.5 %  

 
 

  17.7 %  

 
 

   18.1 %   

 
 

  19.7 %  

 
 

  21.6 %  

 
 

  23.5 %  

 
 

  Payback (years)  

 
 

  3.8  

 
 

  3.4  

 
 

   3.3   

 
 

  3.0  

 
 

  2.8  

 
 

  2.6  

 
 
 
 
                                          
 

   Gold Price (US$/oz)*   

 
 

   $1,300   

 
 

   $1,500   

 
 

   $1,700   

 
 

   $1,850   

 
 

   $2,050   

 
 

   $2,200   

 
 

  NPV pre-tax (8%) ($M)  

 
 

  2,412  

 
 

  2,943  

 
 

   3,473   

 
 

  3,871  

 
 

  4,402  

 
 

  4,800  

 
 

  NPV after-tax (8%) ($M)  

 
 

  1,551  

 
 

  1,944  

 
 

   2,334   

 
 

  2,627  

 
 

  3,017  

 
 

  3,310  

 
 

  IRR pre-tax  

 
 

  17.5 %  

 
 

  19.4 %  

 
 

   21.2 %   

 
 

  22.5 %  

 
 

  24.2 %  

 
 

  25.5 %  

 
 

  IRR after-tax  

 
 

  14.9 %  

 
 

  16.5 %  

 
 

   18.1 %   

 
 

  19.2 %  

 
 

  20.7 %  

 
 

  21.8 %  

 
 

  Payback (years)  

 
 

  4.0  

 
 

  3.6  

 
 

   3.3   

 
 

  3.1  

 
 

  2.9  

 
 

  2.8  

 
 
 

*All other metal prices except those noted are the same as the Base Case.

 

Higher grade material is fed to the concentrator during the first four years of the concentrator operation. This factor, combined with the concurrent heap leach facility operation, results in higher yearly cash flows and other metrics during this period and contributes significantly to the Project's financial performance.

 
 
                        
 
 

   Years 1-4   

 
 

   Life of Mine   

 
 

  Average Annual Pre-tax Cash Flow ($millions)  

 
 

  1,033  

 
 

  662  

 
 

  Average Annual After-tax Cash Flow ($millions)  

 
 

  951  

 
 

  517  

 
 

  Average Net Smelter Return (NSR) ($/t ore milled)  

 
 

  43.15  

 
 

  29.08  

 
 

  % of Revenue - Copper  

 
 

  48.5  

 
 

  46.8  

 
 

  % of Revenue - Gold  

 
 

  38.8  

 
 

  36.0  

 
 

  % of Revenue - Silver  

 
 

  2.1  

 
 

  2.4  

 
 

  % of Revenue - Molybdenum  

 
 

  10.6  

 
 

  14.8  

 
 
 
  CAPITAL COSTS  
 

Total initial capital investment in the Project is estimated to be $3.62 billion , which represents the total direct and indirect cost for the complete development of the Project, including associated infrastructure and power plant.  The following table shows how the initial capital is distributed between the various components.

 
 
                            
 

   Cost Item   

 
 

   Total ($M)   

 
 

   Process Plant and Infrastructure   

 
 
 

  Project Directs including freight  

 
 

  2,116  

 
 

  Project Indirects  

 
 

  431  

 
 

  Contingency  

 
 

  369  

 
 

   Subtotal   

 
 

   2,916   

 
 

   Mining   

 
 
 

  Mine Equipment  

 
 

  433  

 
 

  Mine Preproduction  

 
 

  228  

 
 

   Subtotal   

 
 

   661   

 
 

  Owner's Costs  

 
 

  41  

 
 

   Total Initial Capital Costs   

 
 

   3,618   

 
 

  Sustaining Capital  

 
 

  751  

 
 

   Total Life of Mine Capital Costs   

 
 

   4,369   

 
 
 
  OPERATING COSTS  
 

Operating costs for the milling operation were calculated per tonne of material processed through the mill over the life of mine:

 
 
          
 
 

   LOM   

 
 
 

   ($/tonne)   

 
 

  Milling  

 
 

  $6.42  

 
 

  General & Administrative  

 
 

  $0.46  

 
 

   Total   

 
 

   $6.88   

 
 
 

Heap leach operating costs were calculated per tonne of material processed through the heap leach over the life of the heap leach.

 
 
          
 
 

   LOM   

 
 
 

   ($/tonne)   

 
 

  Heap Leach Operation  

 
 

  $1.93  

 
 

  ADR/SART  

 
 

  $4.80  

 
 

   Total   

 
 

   $6.73   

 
 
 

Mining costs were calculated to average $2.30 per tonne of material moved and $3.65 per tonne of mineralized material.

 
 
        
 
 

   ($/tonne)   

 
 

  Cost per tonne material (material moved)  

 
 

  $2.30  

 
 

  Cost per tonne mill feed (mill + heap leach material)  

 
 

  $3.65  

 
 

  Cost per tonne mill feed  

 
 

  $4.28  

 
 
 

The combined mining and milling costs are $11.16 per tonne material milled for the life of mine, which compares favorably to the life-of-mine net smelter return of $29.08 per tonne at Base Case metal prices.

 
  DEVELOPMENT PLAN  
 

The Study evaluates the development of the Casino deposit as a conventional open pit mine, concentrator complex, and heap leach operation. The initial production will focus on the deposit's oxide cap as a heap leach operation to recover gold and silver in doré form. The main sulphide deposit will be processed using a conventional concentrator to produce copper-gold-silver and molybdenum concentrates.  Key metrics of the processing plant are shown below:

 
 
                                                                                                                  
 
 

   Years 1-4   

 
 

   Life of Mine   

 
 

   Strip ratio   

 
 

  0.26  

 
 

  0.43  

 
 

   Nominal Throughput   

 
 
 
 

  Mill (t/d)  

 
 

  120,000  

 
 

  120,000  

 
 

  Heap (t/d)  

 
 

  25,000  

 
 

  25,000  

 
 

   Average Annual Metal Production   

 
 
 
 

  Copper (Mlbs)  

 
 

  241  

 
 

  163  

 
 

  Gold (kozs)  

 
 

  333  

 
 

  211  

 
 

  Silver (kozs)  

 
 

  1,596  

 
 

  1,277  

 
 

  Molybdenum (Mlbs)  

 
 

  15.5  

 
 

  15.1  

 
 

   Average Annual Mill Feed Grade   

 
 
 
 

  Copper (%)  

 
 

  0.300  

 
 

  0.189  

 
 

  Gold (g/t)  

 
 

  0.352  

 
 

  0.217  

 
 

  Silver (g/t)  

 
 

  2.054  

 
 

  1.659  

 
 

  Molybdenum (%)  

 
 

  0.025  

 
 

  0.021  

 
 

   Average Annual Heap Leach Grade*   

 
 
 
 

  Gold (g/t)  

 
 

  0.366  

 
 

  0.265  

 
 

  Silver (g/t)  

 
 

  2.356  

 
 

  1.95  

 
 

  Copper (%t)  

 
 

  0.042  

 
 

  0.036  

 
 

   Recovery (Mill)   

 
 
 
 

  Copper (%)  

 
 

  83.9  

 
 

  86.5  

 
 

  Gold (%)  

 
 

  67.7  

 
 

  67.1  

 
 

  Silver (%)  

 
 

  55.6  

 
 

  53.1  

 
 

  Molybdenum (%)  

 
 

  64.1  

 
 

  71.2  

 
 

   Recovery (Heap)   

 
 
 
 

  Gold (%)  

 
 

  80.0  

 
 

  80.0  

 
 

  Copper (%)  

 
 

  18.0  

 
 

  18.0  

 
 

  Silver (%)  

 
 

  26.0  

 
 

  26.0  

 
 

   Annual Concentrate Production   

 
 
 
 

  Cu (dry kt)  

 
 

  390  

 
 

  264  

 
 

  Mo (dry kt)  

 
 

  13  

 
 

  12  

 
 

   Average Concentrate Grade   

 
 
 
 

  Copper Concentrate  

 
 
 
 

  Cu (%)  

 
 

  28.0  

 
 

  28.0  

 
 

  Au (g/t)  

 
 

  26.5  

 
 

  24.9  

 
 

  Ag (g/t)  

 
 

  127.2  

 
 

  150.7  

 
 

  Molybdenum Concentrate  

 
 
 
 

  Mo (%)  

 
 

  56.0  

 
 

  56.0  

 
 
 

*Heap leach first four years grades taken from the start of the heap leach.

 
  UPDATED MINERAL RESOURCE  
 

The Mineral Resource has been updated for this Study, based on an updated resource block model developed during December 2021.  The updated model incorporated 2020 drilling and updated geologic models that were not available for previous studies.  The Mineral Resource includes Mineral Resources amenable to milling and flotation concentration methods ("Mill Material") and Mineral Resources amenable to heap leach recovery methods ("Leach Material").  Mill Material includes the supergene oxide ("SOX"), supergene sulphide ("SUS") and hypogene sulphide ("HYP") mineral zones.

 

Leach material is oxide dominant leach cap ("LC") mineralization.  The emphasis of leaching is the recovery of gold in the leach cap.

 

The first two following tables present the Mineral Resource for mill and leach material.  The third table presents the Mineral Resource for combined Mill and Leach Material for copper, gold, and silver.  The Mineral Resource for molybdenum is as shown with Mill Material since it will not be recovered for leach material.  The Mineral Resource is inclusive of the Mineral Reserve.

 

  Mineral Resource for Mill Material at C$6.11 NSR Cutoff  

 
 
                                                            
 

   Resource
Category
 
 

 
 

   Tonnes
(Mt)
 
 

 
 

   NSR
(C$/t)
 
 

 
 

   Copper
(%)
 
 

 
 

   Gold
(g/t)
 
 

 
 

   Moly
(%)
 
 

 
 

   Silver
(g/t)
 
 

 
 

   CuEq
(%)
 
 

 
 

   Copper
(Mlbs)
 
 

 
 

   Gold
(Moz)
 
 

 
 

   Moly
(Mlbs)
 
 

 
 

   Silver
(Moz)
 
 

 
 

  Measured  

 
 

  144.9  

 
 

  40.09  

 
 

  0.30  

 
 

  0.38  

 
 

  0.024  

 
 

  2.1  

 
 

  0.64  

 
 

  953  

 
 

  1.8  

 
 

  75.2  

 
 

  9.6  

 
 

  Indicated  

 
 

  2,114.2  

 
 

  20.34  

 
 

  0.14  

 
 

  0.16  

 
 

  0.015  

 
 

  1.4  

 
 

  0.29  

 
 

  6,493  

 
 

  11.1  

 
 

  716.0  

 
 

  93.5  

 
 

   M+I   

 
 

   2,259.0   

 
 

   21.60   

 
 

   0.15   

 
 

   0.18   

 
 

   0.016   

 
 

   1.4   

 
 

   0.31   

 
 

   7,446   

 
 

   12.9   

 
 

   791.2   

 
 

   103.1   

 
 

  Inferred  

 
 

  1,371.5  

 
 

  15.41  

 
 

  0.10  

 
 

  0.14  

 
 

  0.009  

 
 

  1.1  

 
 

  0.21  

 
 

  3,029  

 
 

  6.1  

 
 

  286.0  

 
 

  50.5  

 
 
 

  Mineral Resource for Leach material at C$6.61 NSR Cutoff  

 
 
                                                  
 

   Resource
Category
 
 

 
 

   Tonnes
(Mt)
 
 

 
 

   NSR
(C$/t)
 
 

 
 

   Copper
(%)
 
 

 
 

   Gold
(g/t)
 
 

 
 

   Silver
(g/t)
 
 

 
 

   AuEq
(g/t)
 
 

 
 

   Copper
(Mlbs)
 
 

 
 

   Gold
(Moz)
 
 

 
 

   Silver
(Moz)
 
 

 
 

  Measured  

 
 

  43.3  

 
 

  23.79  

 
 

  0.05  

 
 

  0.44  

 
 

  2.7  

 
 

  0.47  

 
 

  51.5  

 
 

  0.62  

 
 

  3.7  

 
 

  Indicated  

 
 

  188.4  

 
 

  11.47  

 
 

  0.04  

 
 

  0.21  

 
 

  1.7  

 
 

  0.23  

 
 

  145.4  

 
 

  1.27  

 
 

  10.4  

 
 

   M+I   

 
 

   231.7   

 
 

   13.77   

 
 

   0.04   

 
 

   0.25   

 
 

   1.9   

 
 

   0.27   

 
 

   196.9   

 
 

   1.88   

 
 

   14.1   

 
 

  Inferred  

 
 

  40.9  

 
 

  11.33  

 
 

  0.05  

 
 

  0.20  

 
 

  1.4  

 
 

  0.22  

 
 

  46.9  

 
 

  0.27  

 
 

  1.9  

 
 
 

  Mineral Resource for Copper, Gold, and Silver (Mill and Leach)  

 
 
                                             
 

   Resource
Category
 
 

 
 

   Tonnes
(Mt)
 
 

 
 

   NSR
(C$/t)
 
 

 
 

   Copper
(%)
 
 

 
 

   Gold
(g/t)
 
 

 
 

   Silver
(g/t)
 
 

 
 

   Copper
(Mlbs)
 
 

 
 

   Gold
(Moz)
 
 

 
 

   Silver
(Moz)
 
 

 
 

  Measured  

 
 

  188.2  

 
 

  36.34  

 
 

  0.24  

 
 

  0.40  

 
 

  2.2  

 
 

  1,005.0  

 
 

  2.4  

 
 

  13.3  

 
 

  Indicated  

 
 

  2,302.6  

 
 

  19.61  

 
 

  0.13  

 
 

  0.17  

 
 

  1.4  

 
 

  6,638.1  

 
 

  12.4  

 
 

  103.9  

 
 

   M+I   

 
 

   2,490.7   

 
 

   20.88   

 
 

   0.14   

 
 

   0.18   

 
 

   1.5   

 
 

   7,643.1   

 
 

   14.8   

 
 

   117.2   

 
 

  Inferred  

 
 

  1,412.5  

 
 

  15.30  

 
 

  0.10  

 
 

  0.14  

 
 

  1.2  

 
 

  3,075.5  

 
 

  6.3  

 
 

  52.3  

 
 
 
 
             
 

  Notes:  

 
 

  1. The Mineral Resources have an effective date of 29 April 2022 and the estimate was prepared using the definitions in CIM Definition Standards (10 May 2014).  

 
 

  2. All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.  

 
 

  3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.  

 
 

  4. Mineral Resources for leach material are based on prices of US$3.50/lb copper, US$1650/oz gold and US$22/oz silver.  

 
 

  5. Mineral Resources for mill material are based on prices of US$3.50/lb copper, US$1650/oz gold, US$22/oz silver, and US$12.00/lb molybdenum.  

 
 

  6. Mineral Resources are based on NSR Cutoff of C$6.61/t for leach material and C$6.11/t for mill material.  

 
 

  7. NSR value for leach material is NSR (C$/t) = $15.21 x copper (%) + $50.51 x gold (g/t) + $0.210 x silver (g/t), based on copper recovery of 18%, gold recovery of 80% and silver recovery of 26%.  

 
 

  8 NSR value for hypogene sulphide mill material is NSR (C$/t) = $73.81 x copper (%) + $41.16 x gold (g/t) + $213.78 x moly (%) + $0.386 x silver (g/t), based on recoveries of 92.2% copper, 66% gold, 50% silver and 78.6% molybdenum.  

 
 

  9. NSR value for supergene (SOX and SUS) mill material is NSR (C$/t) = $80.06 x recoverable copper (%) + $43.03 x gold (g/t) + $142.11 x moly (%) + $0.464 x silver (g/t), based on recoveries of 69% gold, 60% silver and 52.3% molybdenum.  Recoverable copper = 0.94 x (total copper – soluble copper).  

 
 

  10. Mineral Resources are reported in relation to a conceptual constraining pit shell in order to demonstrate reasonable prospects for eventual economic extraction, as required by the definition of Mineral Resource in NI 43-101; mineralization lying outside of the pit shell is excluded from the Mineral Resource.  

 
 

  11. AuEq and CuEq values are based on prices of US$3.50/lb copper, US$1650/oz gold, US$22/oz silver, and US$12.00/lb moly, and account for all metal recoveries and smelting/refining charges.  

 
 

  12. The NSR calculations also account for smelting and refining charges and payables.  

 
 
 

 

 
  MINERAL RESERVES  
 

The Mineral Reserve estimate is based on an updated open pit mine plan and mine production schedule using commodity prices of US$3.25 per pound copper, US$1,550 per ounce gold, US$12.00 per pound molybdenum and US$22.00 per ounce silver.

 

All of the mineralization comprised in the Mineral Reserve estimate with respect to the Casino Project is contained on mineral titles controlled by Western Copper and Gold.  The following table presents the Mineral Reserve that is the basis for this Study.

 

  Mineral Reserve  

 
 
                                                             
 
 
 

   Tonnes   

 
 

   NSR   

 
 

   Cu   

 
 

   Au   

 
 

   Mo   

 
 

   Ag   

 
 

   CuEq   

 
 

   Cu   

 
 

   Au   

 
 

   Mo   

 
 

   Ag   

 
 

   Mill Ore Reserve:   

 
 

   (Mt)   

 
 

   ($/t)   

 
 

   ( %)   

 
 

   (g/t)   

 
 

   ( %)   

 
 

   (g/t)   

 
 

   ( %)   

 
 

   (Mlbs)   

 
 

   (Moz)   

 
 

   (Mlbs)   

 
 

   (Moz)   

 
 

  Proven Mineral Reserve  

 
 

  140.1  

 
 

  38.50  

 
 

  0.31  

 
 

  0.39  

 
 

  0.024  

 
 

  2.1  

 
 

  0.67  

 
 

  944  

 
 

  1.8  

 
 

  74.9  

 
 

  9.4  

 
 

  Probable Mineral Reserve  

 
 

  1,076.9  

 
 

  23.68  

 
 

  0.17  

 
 

  0.19  

 
 

  0.021  

 
 

  1.6  

 
 

  0.36  

 
 

  4,135  

 
 

  6.7  

 
 

  497.1  

 
 

  55.5  

 
 

   Proven/Probable Reserve   

 
 

   1,217.1   

 
 

   25.38   

 
 

   0.19   

 
 

   0.22   

 
 

   0.021   

 
 

   1.7   

 
 

   0.40   

 
 

   5,079   

 
 

   8.5   

 
 

   571.9   

 
 

   64.9   

 
 
 
 
                                                             
 
 
 

   Tonnes   

 
 

   NSR   

 
 

   Au   

 
 

   Cu   

 
 

   Mo   

 
 

   Ag   

 
 

   AuEq   

 
 

   Au   

 
 

   Cu   

 
 

   Mo   

 
 

   Ag   

 
 

   Heap Leach Reserve:   

 
 

   (Mt)   

 
 

   ($/t)   

 
 

   (g/t)   

 
 

   ( %)   

 
 

   ( %)   

 
 

   (g/t)   

 
 

   (g/t)   

 
 

   (Moz)   

 
 

   (Mlbs)   

 
 

   (Mlbs)   

 
 

   (Moz)   

 
 

  Proven Mineral Reserve  

 
 

  42.9  

 
 

  22.52  

 
 

  0.45  

 
 

  0.055  

 
 

  N/A  

 
 

  2.7  

 
 

  0.47  

 
 

  0.62  

 
 

  51.8  

 
 

  N/A  

 
 

  3.7  

 
 

  Probable Mineral Reserve  

 
 

  166.8  

 
 

  11.14  

 
 

  0.22  

 
 

  0.031  

 
 

  N/A  

 
 

  1.8  

 
 

  0.23  

 
 

  1.17  

 
 

  113.5  

 
 

  N/A  

 
 

  9.4  

 
 

   Proven/Probable Reserve   

 
 

   209.6   

 
 

   13.47   

 
 

   0.26   

 
 

   0.036   

 
 

   N/A   

 
 

   1.9   

 
 

   0.28   

 
 

   1.78   

 
 

   165.3   

 
 

   N/A   

 
 

   13.1   

 
 
 
 
           
 

  Notes:  

 
 

  1. The Mineral Reserve estimate has an effective date of June 13, 2022 and was prepared using the CIM Definition Standards (10 May 2014).  

 
 

  2. Columns may not sum exactly due to rounding.  

 
 

  3. Mineral Reserves are based on commodity prices of US$3.25/lb Cu, US$1550/oz Au, US$12.00/lb Mo, and US$22.00/oz Ag.  

 
 

  4. Mineral Reserves amenable to milling are based on NSR cutoffs that vary by time period to balance mine and plant production capacities.  They range from a low of $6.11/t to a high of $25.00/t.  

 
 

  5. NSR value for supergene (SOX and SUS) mill material is NSR (C$/t) = $73.63 x recoverable copper (%) + $40.41 x gold (g/t) + $142.11 x moly (%) + 0.464 x silver (g/t), based on recoveries of 69% gold, 52.3% molybdenum and 60% silver.  Recoverable copper = 0.94 x (total copper – soluble copper).  

 
 

  6. NSR value for hypogene (HYP) mill material is NSR (C$/t) = $67.88 x copper (%) + $38.66 x gold (g/t) + $213.78 x moly (%) + $0.386 x silver (g/t), based on recoveries of 92.2% copper, 66% gold, 78.6% molybdenum and 50% silver.  

 
 

  7. Mineral Reserves amenable to heap leaching are based on an NSR cutoff of $6.61/t.  

 
 

  8. NSR value for leach material is NSR (C$/t) = $14.05 x copper (%) + $47.44 x gold (g/t) + $0.210 x silver (g/t), based on recoveries of 18% copper, 80% gold and 26% silver.  

 
 

  9. AuEq and CuEq values are based on prices of US$ 3.25/lb Cu, US$ 1550/oz Au, US$ 12.00/lb Mo, and US$ 22.00/oz Ag, and account for all metal recoveries and smelting/refining charges.  

 
 

  10. The NSR calculations also account for smelter/refinery treatment charges and payables.  

 
 
 

 

 
  INFRASTRUCTURE  
 

A new 132-km all-weather access road will be developed, extending from the end of the existing Freegold Road and generally following the alignment of the existing "Casino Trail" to the mine site. The Study assumed that concentrates will be transported, stored and loaded on ships via upgraded facilities provided by the Port of Skagway, Alaska . The Project operating cost estimate includes the anticipated concentrate handling service charges based on use of the upgraded facilities.

 
  ENVIRONMENT, FIRST NATIONS AND COMMUNITY ENGAGEMENT  
 

The Project is located within the traditional territory of Selkirk First Nation. Aspects of the Project impact the traditional territories of the Little Salmon/Carmacks First Nation, Tr'ondëk Hwëch'in, Kluane First Nation and White River First Nation.  The nearest communities are Pelly Crossing and the Village of Carmacks .

 

Western is committed to developing and operating the Project in a safe, ethical and socially responsible manner. Western has been consulting extensively on the Project since 2008, and First Nations and their technical advisors have participated directly in the refinement of the tailings and mine waste strategy at the Project, as reflected in the design presented in the Study.

 

Since 2006, Western has worked with over 50 different Yukon and First Nations joint venture companies during the development of the project. Western is active in the local community, with longstanding support and sponsorship of many local organizations and charities.

 
  LOOKING FORWARD  
 

Building on over ten years of baseline and analysis, the Company has assembled a team of best-in-class technical experts to design and lead the Environmental Assessment through the Yukon Environmental and Socio-economic Assessment Board ("YESAB") panel process. Western continues to collaborate with First Nations and communities on valued environmental and socio-economic components and project design. As the Project is further refined, Western will continue to seek feedback from and partnerships with local First Nations and communities and is committed to developing the Project with First Nations' and local community input.

 
  CONFERENCE CALL  
 

Western will hold a conference call on Tuesday , June 28, 2022   at   8 am Pacific Time   ( 11 am Eastern Time ) to discuss the Study.

 

Telephone access:
Vancouver local and International    1-604-638-5340
Toll Free North America:                   1-800-319-4610

 

An archived recording of the conference call will be available by dialing 1-604-638-9010 or 1-800-319-6413 within North America , passcode is 7194.  The call will be archived on the Company's website www.westerncopperandgold.com .

 
  TECHNICAL REPORT & QUALIFIED PERSONS  
 

M3 Engineering & Technology Corporation ("M3"), a full-service Engineering, Procurement, Construction & Management firm, is recognized for its experience in copper processing and capabilities in the development and construction of mines and mineral processing plants.  A technical report prepared in accordance to National Instrument 43-101 ("NI 43-101") by the following Qualified Persons will be posted on the Company's website ( www.westerncopperandgold.com ) as well as on SEDAR ( www.sedar.com ), and on EDGAR within 45 days:

 
  •   Daniel Roth , P.Eng., of M3 – Project infrastructure, capital costs, and economic analysis.
  •  
  •   Laurie Tahija , MMSA-QP, of M3 – Metallurgy, recovery methods, and process operating costs.
  •  
  • Patrick Dugan, P.E., of M3 – Power plant and associated infrastructure.
  •  
  •   Michael G. Hester , F Aus IMM, of Independent Mining Consultants – Mineral Resources.
  •  
  •   John Marek , P.Eng., of Independent Mining Consultants – Mineral Reserves, mining methods and mining costs.
  •  
  •   Carl Schulze , P.Geo., of Aurora Geosciences – History, geology, exploration, drilling, sampling, and data verification.
  •  
  •   Daniel Friedman , P.Eng., of Knight Piésold Ltd. – Tailings and heap leach facilities.
  •  
  •   Scott Weston , P.Geo., of Hemmera – Environmental.
  •  

The Qualified Persons have reviewed and approved the scientific, technical, and economic information contained in this news release. Readers are encouraged to read the technical report in its entirety, including all qualifications, assumptions and exclusions that relate to the details summarized in this news release. The technical report is intended to be read as a whole, and sections should not be read or relied upon out of context.

  

 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.

 

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.

 

For more information, visit www.westerncopperandgold.com .

 

On behalf of the board,

 

  "Paul West-Sells"
Dr. Paul West-Sells  
President and CEO
Western Copper and Gold Corporation 

 

  Cautionary Disclaimer Regarding Forward-Looking Statements and Information  

 

  This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Certain forward-looking information should also be considered future-oriented financial information ("FOFI") as that term is defined in NI 51-102. The purpose of disclosing FOFI is to provide a general overview of management's expectations regarding the anticipated results of operations and capital expenditures and readers are cautioned that FOFI may not be appropriate for other purposes. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding: mineral resource and reserve estimation; mine plan and operations; internal rate of return; sensitivities; net present value; potential recoveries; design parameters; economic potential; processing mineralized material; the potential of robust economics at Casino; advancing the Project through additional engineering and towards the next step in permitting and submission of an environmental and socio-economic effects statement; key changes to the TMF design; increases to the gold recovery in the heap leach; potential economic returns from the Project; estimated initial capital investment costs; estimated operating costs; estimated mining costs; development of the airstrip and all weather access road; anticipated concentrate handling service charges; developing and operating the Project in a safe, ethical and socially-responsible manner; plans for further development and securing the required permits and licenses for further studies to consider operation; market price of precious and base metals; or other statements that are not statement of fact. The material factors or assumptions used to develop forward-looking statements include prevailing and projected market prices and foreign exchange rates, exploration estimates and results, continued availability of capital and financing, construction and operations, the Company not experiencing unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays, and general economic, market or business conditions and as more specifically disclosed throughout this document, and in the AIF and Form 40-F.  

 

  Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.  

 

  Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly 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 otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.  

 
 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/western-copper-and-gold-announces-positive-feasibility-on-casino-301576649.html  

 

SOURCE Western Copper and Gold Corporation 

 

 

 

 Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/June2022/28/c3073.html  

 
 

News Provided by Canada Newswire via QuoteMedia

WRN:CA
Western Copper and Gold

Western Copper and Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Western Copper and Gold Corporation (TSX:WRN, NYSE:WRN)

Western Copper and Gold

Keep reading...Show less

Developing a World-Class Copper-Gold Asset in the Yukon

WESTERN COPPER AND GOLD EXTENDS TECHNICAL COLLABORATION WITH RIO TINTO

WESTERN COPPER AND GOLD EXTENDS TECHNICAL COLLABORATION WITH RIO TINTO

 
 

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce an extension and revision of its Investor Rights Agreement ("IRA") with Rio Tinto Canada Inc. ("Rio Tinto").

 
 

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

 

As part of a revised IRA, Rio Tinto will continue to hold a seat on the Casino Technical and Sustainability Committee ("TSC"), along with one representative from Mitsubishi Materials and three from Western, to promote ongoing technical collaboration. Rio Tinto's existing standstill and trading restrictions, along with certain other obligations, will remain in effect, while the previous board observer right and potential board seat rights have been extinguished. The revised IRA will expire on the earlier of November 30, 2026 , or when Rio Tinto's ownership falls below 5%.

 

"We are pleased to maintain Rio Tinto's presence on the TSC as it has been mutually beneficial to both Western and Rio Tinto," said Sandeep Singh , President and CEO. "Rio Tinto remains a supportive shareholder, and we value the expertise they bring to bear on the project. It did make sense, however, to refine some of the previous rights, especially as we have taken steps to enhance our own independent board of directors over time."

 

  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.

 

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.

 

For more information, visit www.westerncopperandgold.com .

 

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 ongoing rights and obligations of Rio Tinto and the progression of the Casino Project.  

 

  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, such 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-extends-technical-collaboration-with-rio-tinto-302482077.html  

 

SOURCE western copper and gold corporation 

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/16/c6929.html  

 
 

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
WESTERN COPPER ANNOUNCES ELECTION OF DIRECTORS AND VOTING RESULTS FROM ANNUAL SHAREHOLDERS' MEETING

WESTERN COPPER ANNOUNCES ELECTION OF DIRECTORS AND VOTING RESULTS FROM ANNUAL SHAREHOLDERS' MEETING

 
 

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) announces the voting results from the Company's Annual General Meeting ("AGM") held on June 12, 2025.

 
 

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

 

A total of 99,165,184 common shares were represented at the AGM, accounting for 49.58% of the votes attached to all outstanding common shares as of the record date. Detailed results of the vote for the election of directors and the appointment of the auditor are set out below.

 

Voting results for the election of each of the directors are as follows:

 
 
                                   
 

   Director   

 
 

   Votes For   

 
 

   % For   

 
 

   Votes Withheld   

 
 

   % Withheld   

 

 

  Raymond Threlkeld  

 
 

  83,398,357  

 
 

  97.66 %  

 
 

  1,998,747  

 
 

  2.34 %  

 
 

  Sandeep Singh  

 
 

  85,272,115  

 
 

  99.85 %  

 
 

  124,989  

 
 

  0.15 %  

 
 

  Robert Chausse  

 
 

  85,009,906  

 
 

  99.55 %  

 
 

  387,198  

 
 

  0.45 %  

 
 

  Michael Vitton  

 
 

  61,999,900  

 
 

  72.60 %  

 
 

  23,397,204  

 
 

  27.40 %  

 
 

  Klaus Zeitler  

 
 

  82,509,179  

 
 

  96.62 %  

 
 

  2,887,925  

 
 

  3.38 %  

 
 

  Pamela O'Hara  

 
 

  85,215,910  

 
 

  99.79 %  

 
 

  181,194  

 
 

  0.21 %  

 
 
 

Voting results for the appointment of PricewaterhouseCoopers LLP as the auditor are as follows:

 
 
        
 

   Votes For   

 
 

   % For   

 
 

   Votes Withheld   

 
 

   % Withheld   

 
 

  98,940,364  

 
 

  99.77 %  

 
 

  224,820  

 
 

  0.23 %  

 
 
 

The Company's report of voting results will be available on SEDAR ( www.sedar.com ), EDGAR ( www.sec.gov/edgar.shtml ), and on the Company's website.

 

  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.

 

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.

 

For more information, visit www.westerncopperandgold.com .

 

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 anticipated advancement of the Casino Project, the continued support and involvement of Mitsubishi Materials, and the potential benefits of the extended investor rights agreement.  

 

  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, such 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-announces-election-of-directors-and-voting-results-from-annual-shareholders-meeting-302480794.html  

 

SOURCE western copper and gold corporation 

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/13/c2711.html  

 
 

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
WESTERN COPPER FORMALLY EXTENDS INVESTOR RIGHTS AGREEMENT WITH MITSUBISHI MATERIALS

WESTERN COPPER FORMALLY EXTENDS INVESTOR RIGHTS AGREEMENT WITH MITSUBISHI MATERIALS

 
 

 western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce that Mitsubishi Materials Corporation ("Mitsubishi Materials") has completed the precondition for the previously announced extension of their investor rights agreement.

 
 

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

 

Mitsubishi Materials acquired two million common shares of the Company through open market purchases, taking their overall ownership to approximately 5%. Consequently, the investor rights agreement between the two groups has now been extended to May 30, 2026 , in accordance with the amended terms announced on April 15, 2025 .

 

"We are extremely pleased to maintain, and enhance, our relationship with Mitsubishi Materials." said Sandeep Singh , President and CEO. "They remain an incredibly supportive shareholder, and we value their expertise as we advance the Casino Project."

 

  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.

 

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.

 

For more information, visit www.westerncopperandgold.com .

 

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 anticipated advancement of the Casino Project, the continued support and involvement of Mitsubishi Materials, and the potential benefits of the extended investor rights agreement.  

 

  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, such 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-formally-extends-investor-rights-agreement-with-mitsubishi-materials-302466858.html  

 

SOURCE western copper and gold corporation 

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/28/c7490.html  

 
 

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
WESTERN COPPER AND GOLD CONTINUES BOARD RENEWAL PROCESS

WESTERN COPPER AND GOLD CONTINUES BOARD RENEWAL PROCESS

 
 

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce further progress on its board renewal process.

 
 

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

 

In connection with the upcoming Annual General Meeting ("AGM"), Dr. Bill Williams will retire from his last remaining board position, and Tara Christie will not stand for re-election in order to focus on her existing executive priorities. Western is pleased to announce the nomination of Pamela O'Hara for election to the board of directors at the Company's AGM on June 12, 2025 .

 

Ms. O'Hara brings over 30 years of experience advancing mining and transportation infrastructure projects, as well as a deep level of expertise in the Yukon . She has been heavily involved in permitting large projects including Ekati, Voisey's Bay, Wolverine, Hope Bay , Canadian Pacific Railway, and the Port of Vancouver . A Registered Professional Biologist and Certified Sustainability (ESG) Practitioner, Ms. O'Hara is known for delivering innovative, community-focused projects and successfully navigating regulatory environments. Ms. O'Hara holds a B.Sc. in Biology and Oceanography from the University of British Columbia and an M.Sc. in Environment and Management from Royal Roads University.

 

"On behalf of the Board, I would like to sincerely thank Bill for his many contributions to Western over the years and wish him all the best in his retirement," said Sandeep Singh , President and CEO. "We also thank Tara for her years of dedicated service and support to Western. Looking ahead, as we advance the Casino Project through environmental assessment and permitting, Pamela's proven ability to navigate regulatory processes and deliver major projects will be a significant asset to the board of directors and the broader team."

 

  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.

 

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.

 

For more information, visit www.westerncopperandgold.com .

 

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.  

 

  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, such 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.  

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
WESTERN COPPER AND GOLD STRENGTHENS STRATEGIC PARTNERSHIP WITH MITSUBISHI MATERIALS

WESTERN COPPER AND GOLD STRENGTHENS STRATEGIC PARTNERSHIP WITH MITSUBISHI MATERIALS

 
 

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce that it has strengthened its relationship with Mitsubishi Materials Corporation ("Mitsubishi Materials").

 
 

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

 

Western has entered into an amended and restated investor rights agreement (the "Agreement") with Mitsubishi Materials, most notably extending the rights and obligations thereunder until May 30, 2026 , subject to Mitsubishi Materials acquiring 2 million common shares of the Company through open market purchases. These purchases will be non-dilutive to existing shareholders, as no new shares will be issued by the Company. Upon completion, Mitsubishi Materials' equity ownership in Western is expected to return to approximately 5%.

 

"Mitsubishi Materials have been a supportive partner, and we are pleased to see them grow their ownership in Western," said Sandeep Singh , President and CEO. "Their continued support through this proposed new investment, made through non-dilutive, open market purchases, is another vote of confidence in the team and the   Casino   Project. The corresponding extension of rights reflects the productive and aligned relationship we've built, and we look forward to continuing to collaborate as we advance one of Canada's most important critical minerals projects."

 

  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.

 

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.

 

For more information, visit www.westerncopperandgold.com .

 

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 Mitsubishi Materials acquiring additional common shares of the Company.  

 

  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, such 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-strengthens-strategic-partnership-with-mitsubishi-materials-302428507.html  

 

SOURCE western copper and gold corporation 

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2025/15/c9765.html  

 
 

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Announces Share-Based Compensation Grant

FPX Nickel Announces Share-Based Compensation Grant

 
 

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") announces that the board of directors of the Company has approved the grant of 5,305,000 stock options (the " Options ") to directors, officers and employees of the Company pursuant to the Company's Share Compensation Plan. The Options have an exercise price of $0.30 per share, with a five-year term and are fully vested on the grant date, July 10, 2025 .

 
 

  FPX Nickel logo (CNW Group/FPX Nickel Corp.) 

 

The Company also granted an aggregate 750,000 restricted share units (the " RSUs ") to certain officers of the Company. The RSUs vest in three equal installments on the annual anniversaries of the grant date and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

 

  About FPX Nickel Corp.  

 

 FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

 

On behalf of FPX Nickel Corp.

 

"Martin Turenne"
Martin Turenne , President, CEO and Director

 

   Forward-Looking Statements   

 

  Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.  

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.  

 

SOURCE FPX Nickel Corp.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/11/c5569.html  

 
 

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Cygnus Metals Limited: Issue of Performance Rights

Cygnus Metals Limited: Issue of Performance Rights

 

Cygnus Metals Limited ("Cygnus" or the "Company") advises that it has issued an aggregate of 67,050,000 performance rights ("Performance Rights") to directors, and key employees and consultants, under the Company's Omnibus Equity Incentive Plan ("Plan").

 

Shareholders approved the Plan and the issue of Performance Rights to directors at the Company's annual general meeting held on May 14, 2025. The Performance Rights to key personnel were issued on the same terms and conditions as the director Performance Rights, as set out in the notice of annual general meeting released to ASX on April 14, 2025.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Silver47 Conducts Prospecting and Soil Geochemical Surveys at Its Adams Plateau SEDEX Silver-Zinc-Lead-Copper-Gold Project, BC, Canada

Silver47 Conducts Prospecting and Soil Geochemical Surveys at Its Adams Plateau SEDEX Silver-Zinc-Lead-Copper-Gold Project, BC, Canada

Silver47 Exploration Corp. (TSXV: AGA,OTC:AAGAF) (OTCQB: AAGAF) ("Silver47" or the "Company") is pleased to announce the 2025 exploration program is nearing completion at its wholly-owned Adams Plateau Project (the "Project") in southern British Columbia, a silver-zinc-copper-gold-lead SEDEX project.

Gary Thompson, CEO of Silver47, stated: "We are glad to continue our work on Adams Plateau toward defining drill targets on this road-accessible project. The abundance of surface mineralization on the Project is very encouraging for the potential of new and exciting discoveries. The Company has received a 5-year permit for drilling. This year is shaping up to be transformational for the Company with a full season of drilling at the flagship Red Mountain Project and the pending merger with Summa Silver."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

 

   New Expansion Hole Intersects    279    Metres Averaging    0.49    % Cu   

 

   Nine Drill Rigs Now Active on Site   

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Vertex Minerals Limited  Reward Gold Mine Project Update

Vertex Minerals Limited Reward Gold Mine Project Update

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX,VTXXF) (OTCMKTS:VTXXF) is pleased to announce that the underground mining operation is on track to be producing high grade gold feed to the recently commissioned gravity gold plant in the coming weeks.

HIGHLIGHTS:

- Operational Milestones

o VTX remains firmly on track to commence production of high-grade ore from the underground mine in the forthcoming weeks.

o Transformer and cabling for the installation of 11kV high voltage underground power system on site with installation commenced.

o Preparations for the underground mine startup up progressing as planned and stripping of the main access is completed.

o New Aramine L350D has departed France for the journey to Hill End. Arrival in Orange NSW expected in by 26th August where it will be fitted with an RCT remote control system for open stoping operations.

o Mining the Reward Gold Mine - Resource 225kozs at 16.7g/t (VTX ASX Announcement 21 June 2023).

o Weekly Gold production Oz's from Stockpiles improving with depth in the stockpiles, with coarser particle size and better process throughput experienced.

- Mine start up

o Fan chambers have been excavated to provide secondary ventilation for production activities, exploration drilling and the future southern access toward the Fosters' exploration target.

o Primary ventilation fan has been installed and bulkhead completed.

o High voltage surface substation has been installed.

o High voltage cabling installation commences next week, with power up of the system scheduled for 28 July 2025.

o Stripping of the main accessis completed with the final elements of ground support (approx. 30m) to be completed before power cable installation starts next week.

o Cable bolts installed for the intersection of Lady Belmore exploration drive with first cut drilled out and ready to charge.

o Development Jumbo #1 (Epiroc T1D) is exceeding performance expectations.

o Dewatered of declines well underway.

o Mine schedule for FY26 finalised.

o First airleg stope secondary vent installed and specialty equipment on site to start first air leg stope.

o First long hole stope planned for August. High grade from airleg and longhole stopes to complement larger tonnage from development ore headings.

- People that have been onboarded

o 2x Drill Fitters and Heavy diesel fitter.

o Process superintendent commences next week.

o Full Tech team started including mine surveyor this week.

o Have back-to-back airleg miners for stoping.

o Full underground and mill crews.

- Improvements to plant

o DSM screen installed to improve product delivery to Wilfley Table.

o Gemini table improvements with new tabletop and gearbox improving final concentrate grade to over 20% gold (suitable for direct smelting to Dore on site).

o Process water pump upgrade improving ore washing and Tomra performance.

- Revised mine plan and schedule completed and ready to implement

- Updated Reward Gold mine mining plan and mine schedule completed.

- Adding a high-grade long hole stope upfront to be mined concurrently with the high grade airleg stope.

Vertex Director Declan Franzmann commented: "It is great to see all the elements of re-developing the underground mine and processing facility coming together so rapidly. The most pleasing aspect is our success in employing an incredible team of people to run the operation and all credit to management for developing great "esprit de corps" and a single sense of purpose as we push to full production."

As previously announced, the startup mine schedule includes mining 2,075 tonnes at 17.8 g/t Au from a developed airleg stope block. The planned stope width is the same as the interpretation of the mineralisation. (Refer to Table 1 in Appendices 1) (VTX ASX announcement 26/06/23).

Given this stope will take some time to extract, the Vertex geology and Mining Team have additionally brought forward a very high-grade long hole stope to commence mining in August as well. Further optimisations to the mining schedule will continue to be made.

This stope can be exploited as soon as services have been established. The mining crews have done a great job in the access drive to make room for the services (11kV cable, water and air lines) while improving accessibility for the mobile mining equipment selected for the Project.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OUQP5Z21

 

About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX,VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

 

 

Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Western Copper and Gold

Western Copper and Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×