Western Copper and Gold Files Feasibility Study

NEWS RELEASE

February 13, 2013 Release 02-2013

WESTERN COPPER AND GOLD FILES FEASIBILITY STUDY

VANCOUVER, BC: Western Copper and Gold Corporation (the “Company”) (TSX:WRN; NYSE MKT:WRN) is pleased to announce that it has filed a technical report titled “Casino Project, Form NI 43- 101F1 Technical Report Feasibility Study, Yukon, Canada” dated January 25, 2013 (the “Report”).

The Report summarizes the results of a feasibility study on the Casino copper-gold project, which results were first reported by the Company in a news release dated January 7, 2013. The Report was prepared by M3 Engineering & Technology Corporation.

The Report is available on SEDAR (www.sedar.com) and EDGAR (www.sec.gov/edgar.shtml) and is also posted on the Company’s website (www.westerncopperandgold.com).

ABOUT WESTERN COPPER AND GOLD CORPORATION

Western Copper and Gold Corporation is a Vancouver-based exploration and development company with significant copper, gold and molybdenum resources and reserves. The Company has 100% ownership of the Casino Project located in the Yukon Territory. The Casino Project is one of the world's largest openpittable gold, copper, silver and molybdenum deposits. For more information, visit www.westerncopperandgold.com.

On behalf of the board,

“Dale Corman”

F. Dale Corman Chairman & CEO

For more information please contact Paul West-Sells, President & COO or Justin Rasekh, Manager Corporate Communications & Investor Relations, at 604.684.9497 or email [email protected].

TSX: WRN NYSE MKT: WRN