WHITEHORSE, YT, Sept. 23,
2024 /PRNewswire/ - Western Copper and Gold
Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American:
WRN) welcomes the recent announcement by Natural Resources Canada
("NRCan"), conditionally approving C$40
million in federal funding to undertake pre-feasibility
activities to advance a high-voltage transmission line network
connecting the Yukon electrical
grid to the North American grid in British Columbia. This funding would be
provided through the Critical Minerals Infrastructure Fund
("CMIF").
The announcement was made on September
20, 2024, by the Honourable Jonathan Wilkinson, Minister of
Energy and Natural Resources, with the Honourable Josie Osborne,
British Columbia's Minister of
Energy, Mines and Low Carbon Innovation, and the Honourable Ranj
Pillai, Premier of the Yukon.
The government announcement stresses the importance of
investments in critical minerals infrastructure to enable
Canada to seize the generational
opportunity to transition to a low-carbon economy and capitalize on
the country's rich mineral resources.
As discussions around the grid connection evolve, the
Casino Copper-Gold Project's ("Casino" or
the "Project") future energy demand could play an important role in
shaping strategic investments that enhance connectivity, providing
lasting benefits for the Yukon and
its communities.
Sandeep Singh, Chief Executive
Officer, stated: "This is a meaningful step toward advancing
much-needed energy infrastructure in the Yukon, with potential to support Canada's broader focus on improving the
environmental performance and sustainability of critical mineral
development.
While Casino's feasibility study demonstrates a
highly viable project using liquefied natural gas power, a
potential future pathway to hydro grid power would be
transformative, allowing the Project's critical minerals to be
produced while minimizing its carbon footprint."
NRCan's full announcement can be found at
https://www.canada.ca/en/natural-resources-canada/news/2024/09/canada-announces-significant-funding-to-unlock-more-critical-minerals-development-in-northern-british-columbia-and-the-yukon.html.
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
Chief Executive Officer
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.
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SOURCE Western Copper and Gold Corporation
