Western Copper and GOLD and Casino Mining Provide Update ON Yukon Activities and Permitting Process
WESTERN COPPER AND GOLD AND CASINO
MINING PROVIDE UPDATE ON YUKON
ACTIVITIES AND PERMITTING PROCESS
VANCOUVER, BC
,
Feb. 24, 2022
/CNW/ - Western Copper and Gold Corporation ("Western" or the
"Company") (TSX: WRN) (NYSE American: WRN), through its wholly owned subsidiary Casino
Mining Corp. is pleased to provide an update on the process to permit its wholly-owned Casino
copper-gold project ("Casino" or "Project") and other activities in the
Yukon
that impact the Project.
The Yukon Government has commenced construction of the Carmacks Bypass Project, required for
Casino's construction and operation, following award of the contract in
November 2021
(see Press
Release dated
November 9
th
, 2021). The Carmacks Bypass will allow industrial vehicles to
circumvent the
Village of Carmacks
; reducing heavy traffic and increasing community safety, while
improving access to the Casino Project site located approximately 200 km from the community.
Advancing permitting, the Company has retained leading Canadian environmental consultancy firm
Hemmera to lead preparation of an Environmental and Socio-economic Statement ("ESE
Statement") for the Casino Project. The ESE Statement, which is anticipated for submission to the
Yukon Environmental and Socio-economic Assessment Board ("YESAB") in the second quarter of
2023, is a key component in YESAB's assessment process for the proposed Casino Project.
Hemmera is a wholly-owned subsidiary of Ausenco Engineering Canada Inc. with primary office
locations in
Vancouver
,
Whitehorse
,
Burnaby
,
Victoria
,
Calgary
,
Toronto
, and
Halifax
and a strong
project presence in Northern and
Western Canada
. Hemmera is managing the regulatory process for
Newmont Corporation's Coffee Gold Mine Project ("Coffee"). Earlier this year, YESAB issued its
recommendation that Coffee proceed. Coffee is located 20 km from the Casino Project.
"The Casino Project continues to advance with construction starting on the Carmacks Bypass and
bringing in Hemmera to lead our ESE statement preparation," stated Dr.
Paul West-Sells
, President
and CEO. "Hemmera's team, many of whom are based in
Whitehorse
, know the
Yukon's
regulatory
environment and socio-economic situation well. Their team, like ours, understands the importance of
engagement and consultation with First Nations and communities to ensure our Project reflects
Yukoners' priorities and values."
Since 2016, when the Casino Project was referred to Panel Review by YESAB, Casino has
continued to advance the Project by engaging with affected Yukon First Nations governments and
communities, completing several Traditional Knowledge and environmental studies, conducting
several drill campaigns, and finalizing a Preliminary Economic Assessment ("PEA") on the Project.
The PEA includes important refinements to many Casino Project components, including to the tailings
and waste management infrastructure, which incorporated improvements identified by the Best
Available Tailings Technology Study ("BATT Study") completed in 2018 with participation by Yukon
First Nations, YESAB and the Yukon Government.
I n
October 2021
, Casino engaged the services of M3 Engineering & Technology Corporation to
conduct a Feasibility Study of the Casino Project, which remains on schedule to be complete in the
second quarter of 2022.
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,
"Paul West-Sells"
Dr.
Paul West-Sells
President and CEO
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"). 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 perceived merit of properties; mineral reserve and resource estimates;
capital expenditures; feasibility study results (including projected economic returns, operating
costs, and capital costs in connection with the Casino Project); exploration results at the
Company's property; budgets; permitting or other timelines; economic benefits from the mine
and/or the access road; strategic plans; market price of precious and base metals; or other
statements that are not statement of fact. In making the forward-looking statements herein, the
Company has applied certain material assumptions including, but not limited to, the assumptions
that the circumstances surrounding the COVID-19 pandemic, although evolving, will stabilize or at
least not worsen; that the extent to which COVID-19 may impact the Company, including without
limitation disruptions to the mobility of Company personnel, increased labour and transportation
costs, and other related impacts, will not change in a materially adverse manner; that all regulatory
approvals required to complete the Company's planned exploration and development activities will
be received in a timely manner and on acceptable terms; that the Company is able to procure
personnel, equipment and supplies required for its exploration and development activities in
sufficient quantities and on a timely basis; and that general business conditions will not change in
a materially adverse manner.
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; COVID-19 risks to employee health and safety and a slowdown or
temporary suspension of operations in geographic locations impacted by an outbreak;
uncertainties related to raising sufficient financing in a timely manner and on acceptable terms;
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.
SOURCE
Western Copper and Gold Corporation
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For further information:
Sandy Noyes, Director, Investor Relations, 604.638.2520,
[email protected]; Yukon Media Inquiries: Amanda Leslie, E:
[email protected], C: 867.334.4770
CO: Western Copper and Gold Corporation
CNW 06:03e 24-FEB-22