Western Copper and GOLD Announces Completion of C$5 Million Financing with RIO Tinto

WESTERN COPPER AND GOLD ANNOUNCES

COMPLETION OF C$5 MILLION FINANCING

WITH RIO TINTO

VANCOUVER, BC

,

May 6, 2024

/CNW/ - Western Copper and Gold Corporation ("Western" or the

"Company") (TSX: WRN) (NYSE American: WRN) announces it has completed the previously

announced private placement with Rio Tinto Canada Inc. ("Rio Tinto") pursuant to Rio Tinto's

subscription rights as a result of the Company's recent issuance of common shares.

Rio Tinto acquired 2,609,890 common shares of the Company at a price of

C$1.90

per share for

proceeds of

C$4,958,791

, allowing Rio Tinto to maintain its interest of approximately 9.7%.

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

SOURCE

Western Copper and Gold Corporation

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CO: Western Copper and Gold Corporation

CNW 16:30e 06-MAY-24