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Western Copper and GOLD Provides Metallurgical and Drill Program Results FOR Casino

Exploration Programs Metallurgy & Processing

WESTERN COPPER AND GOLD PROVIDES

METALLURGICAL AND DRILL PROGRAM

RESULTS FOR CASINO

VANCOUVER, BC

,

Jan. 17, 2023

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

"Company") (TSX: WRN) (NYSE American: WRN) announces results from a metallurgical program

(the "Metallurgical Program") and a drill program (the "Drill Program") executed in 2022 for its wholly

owned Casino Copper-Gold Project ("Casino").

The Metallurgical and Drill Programs were developed in collaboration with Rio Tinto as outlined in the

Investor Rights Agreement and Subscription Agreement entered as part of an investment by Rio

Tinto Canada in Western (see

news release dated

May 17, 2021

). Results from the Programs were

reviewed by a joint team consisting of Rio Tinto and Western personnel and consultants.

"Metallurgical results from the recent testing support and in some cases improve upon the

metallurgical recoveries used in the Feasibility Study", said

Paul West-Sells

, President and CEO,

"and the drill results continue to build out our geological understanding of the deposit."

Metallurgical Program

Test work consisted of detailed mineralogy, heap leach testing, comminution testing, flotation testing

and detailed analysis of flotation concentrates. Sample selection and composite sample generation

followed the expected mining plan, as outlined in the 2022 feasibility study (the "Feasibility Study",

see

news release dated

August 9, 2022

). Heap leach test work within the Metallurgical Program

was completed at SGS Mineral Services of

Burnaby, B.C.

, while all other test work was completed

at ALS Metallurgy of

Kamloops, B.C.

The Metallurgical Program primarily used drill core composites of material representing both

potential mill and heap leach feed taken from the 2021 diamond drilling program (see

news release dated

March 24, 2022

). Seven drill holes were used to create 21 metallurgical

composites for testing. These holes intersected all significant lithologic zones of the Casino deposit,

ranging from a copper depleted leached cap ("CAP") zone near surface, through a supergene zone

("SUP") of low to moderate copper mineral oxidation and secondary sulphide mineralization, to

unweathered hypogene ("HYP") material at depth.

The heap leach test work included samples that were taken in 2020 from near surface (

0.5 m

or

greater below the overburden-bedrock interface) using an excavator and separated into lithologic

composites representing Dawson Range Batholith ("WR"), Patton Porphyry ("PP") and Intrusive

Breccia ("IX") mineralization and assay rejects.

Grinding and Flotation Test Work

Test Samples

Table 1 shows drill holes DDH21-6 and DDH21-7, indicating composite intervals generated, as well

as sample grades and lithologies. The HYP and SUP zones represent approximately 70 and 30

percent of the planned mill feed respectively.

Table 1: Flotation composite sample characterization of selected test samples.

Composite

Hole

From

(m)

To

(m)

Lithology

Cu

(%)

CuOx*

(%)

Mo

(%)

Au

(g/t)

7

DDH21-6

161.1

241.1

SUP

0.30

14.6

0.023

0.42

8

DDH21-6

241.1

324.6

SUP

0.18

6.7

0.025

0.30

9

DDH21-7

51.7

143.7

HYP

0.53

1.1

0.026

0.66

10

DDH21-7

143.7

257.7

HYP

0.48

0.9

0.032

0.60

11

DDH21-7

257.7

326.1

HYP

0.22

1.4

0.030

0.26

*Oxide copper is shown as percentage of total copper contained in the feed sample.

Comminution Test Results

Comminution test work expanded the database of results available to support the project. There

were no significant new comminution results that altered the expected grinding characteristics of the

Casino materials from previous test work. Sag Media Competency testing and JKTech Drop Weight

tests were completed and used in grinding simulations, indicating a SAG mill power requirement of

7.6 to 10.6 kWh/t. Bond Ball mill work index results ranged from 11.0 to 16.1 kWh/t, which is

considered as "soft to average" hardness in terms of ball milling energy requirements.

Flotation Test Results

The Casino Project proposes using flotation to produce saleable copper-gold and molybdenum

concentrates using an industry standard process flowsheet. Gold values are expected to be

recovered within a copper concentrate and be payable under typical copper concentrate smelting

terms. Table 2 shows metallurgical recoveries obtained for SUP and HYP composites using locked

cycle testing and reflecting the selected samples shown in Table 1.

Table 2: Summary of locked cycle flotation results for selected samples.

Composite

No.

Copper Concentrate Grade

Metal Recoveries

Cu (%)

Au (g/t)

Cu (%)

Au (%)

Mo (%)

7

26.5

35.7

75.7

66.9

81.9

8

26.3

39.6

80.0

59.6

55.8

9

28.0

29.5

91.7

82.8

76.5

10

30.1

25.9

91.9

67.6

77.4

11

29.5

29.5

90.9

67.6

84.1

The results in Table 2 show the impact of weathering and oxidation of copper minerals on the copper

recovery for composites 7 and 8 and is typical of Casino material. HYP materials demonstrate

consistently high copper recoveries and very good quality copper concentrates. Copper concentrate

quality does not appear to be significantly impacted when processing SUP weathered materials, and

minor reductions in copper content appear to be offset by increases in gold grades produced from

these weathered zones. For the SUP samples that contain a component of copper as copper oxide

minerals, the expected reduction in overall copper recovery in flotation is approximately equal to the

copper oxide content. Gold recovery to copper concentrates is not expected to be significantly

impacted when processing SUP materials in the Casino flotation plant.

Copper Concentrate Quality

The flotation concentrates produced from the Casino project continue to demonstrate very good

grades in terms of copper and gold, as well as low levels of potential penalty elements. Shown

below is a summary table of the concentrates produced from the recent test work from selected

samples, including key penalty elements relevant to smelter terms.

Table 3: Casino concentrate analysis – key elements for smelter terms.

Composite

No.

Copper Concentrate

Grades

Smelter Sensitive Elements

Cu (%)

Au (g/t)

S (%)

As (%)

Sb (%)

Hg (g/t)

F (%)

7

26.5

35.7

30.5

0.148

0.108

1.19

na

8

26.3

39.6

31.8

0.086

na

0.49

na

9

28.0

29.5

33.4

0.011

0.005

0.03

0.013

10

30.1

25.9

32.8

0.158

0.076

0.36

0.016

11

29.5

29.5

31.2

0.406

0.168

0.81

0.025

Heap Leach Test Work

Test Samples

Gold recovery by heap leaching is planned from the oxidized, upper zones of the Casino Deposit.

This near surface material is typically depleted in copper and has retained the gold values originally

contained in the deposit. Column leaching of crushed samples was used to determine an expected

gold recovery and to obtain key metallurgical parameters related to heap leaching. For the column

leach tests, three composite samples from the 2021 drill program and three excavated samples

were used as outlined below in Table 4.

Table 4: Composite and excavated samples used in column tests

Sample

Hole

From

(m)

To

(m)

Cu

(%)

Au

(g/t)

Ag

(g/t)

Comp 1

DDH21-04

29.8

108.9

0.05

0.52

3.4

Comp 12

DDH21-02

5.2

99.2

<0.01

0.40

4.0

Comp 14

DDH21-03

4.1

88.7

<0.01

0.16

1.4

IX Comp

excavated

-

-

0.05

0.46

4.2

PP Comp

excavated

-

-

0.06

0.35

2.1

WR Comp

excavated

-

-

0.02

0.44

1.8

Crusher Work Index and Bond Abrasion Test Results

Crusher Work Index testing was completed to better understand the crushing energy requirements

of preparing heap leach feed. The crusher work indices covered a wide range, from 3.7 to 12.0

kWh/t with an average value of 8.5 kWh/t and fell in the very soft to moderately hard range of

hardness. The bond abrasion indices also varied widely from 0.027 to 0.417 g with an average

value of 0.247 g and fell in the very mild to moderately abrasive range of abrasiveness.

Column Test Results

Column testing was carried out in 20-foot high by 4-inch diameter PVC columns irrigated at 10

L/h/m

2

with a solution containing 1.0 g/L NaCN and 300 mg/L Cu to approximate the buildup of

copper in the expected operating circuit, at a pH between 11 and 11.5 for 96 days. The samples

were crushed to 100 percent passing ¾ inch which is consistent with the design criteria from the

Feasibility Study.

Table 5: Gold and silver recovery and cyanide and lime consumption for column tests after rinsing.

Sample

Gold Recovery (%)

Silver Recovery

(%)

NaCN Consumption

(kg/t)

Lime Consumption

(kg/t)

Comp 1

82.7

19.1

1.47

3.36

Comp 12

83.8

7.4

1.48

4.57

Comp 14

78.0

15.1

1.55

3.58

IX Comp

85.8

21.8

1.37

3.36

PP Comp

88.3

25.2

1.87

3.50

WR Comp

85.1

24.9

1.23

3.70

Gold recoveries for the 6 samples tested ranged from 78.0 to 88.3 percent, which compares

favorably to the 80 percent gold recovery used in the Feasibility Study and suggests that some of

the material designated for the heap leach pad may produce gold recoveries in excess of what is

carried in the Feasibility Study. Lime and cyanide consumption are also consistent with previous

testing.

Drill Program

The Drill Program included a diamond drill hole (DDH22-01) targeting a deep-seated magnetotelluric

("MT") geophysical anomaly indicating potential for a conical mineralized zone directly southeast of

the Casino Deposit core zone. Additionally, 23 short diamond drill holes totaling

853.71 m

, and 9

combined sonic/diamond drill holes totaling

364.43 m

, were completed on various targets for

geotechnical and water-monitoring purposes. The program also included

34,387 m

of drill core

scanning utilizing the GeologicAI scanning device built by Enersoft Inc.

DDH22-01 was collared along the Casino deposit's southeastern limit (UTM NAD 83, Zone 7V

coordinates: 611160E, 6958125N, elev.

1,236 m

) and drilled at an azimuth of 170° and dip of -80° to

a depth of 1,008 m. Downhole measurements were made at regular intervals to verify that the hole

was on target and successfully intersected the projected MT feature. The top of the anomaly was

encountered at approximately

800 m

total depth.

The lithology of the entire drill hole was dominated by

Dawson Range

granodioritic intrusive rocks,

crosscut by only a few dykes, interpreted as members of the younger Patton Porphyry intrusion.

Intrusive Breccias, the principal host rock of the Casino deposit, were not intersected. Phyllic and

argillic alteration was logged at shallow depths along the deposit margin, and propylitic alteration

dominated within and directly overlying the anomaly. Elevated copper, gold, and silver values were

exclusively hosted by thin pyritiferous structural zones throughout the drill hole. The top of the

sulphide zone was encountered at approximately

100 m

depth; the percentage of sulphides

decreased with depth, apart from those hosted by the thin structures. Select intervals are shown in

Table 6.

Table 6: Select Intervals of DDH22-01.

Interval

From (m)

Interval

To (m)

Width

1

(m)

Au (g/t)

Ag (g/t)

Cu (%)

Mo (g/t)

950.20

953.20

3.00

4.85

10.1

0.85

1.1

989.20

992.20

3.00

1.76

2.9

0.43

0.5

992.20

995.20

3.00

2.92

7.0

0.91

1.1

1

Widths are core length, not true width of mineralized intersection

Qualified Persons

The metallurgical information in this news release has been prepared in accordance with Canadian

regulatory requirements set out in National Instrument 43-101 Standards of Disclosures for Minerals

Projects of the Canadian Securities Administrators ("NI 43-101") and supervised, reviewed, and

verified by

Jeffrey B. Austin

, P.Eng., President of International Metallurgical and Environmental Inc.,

a "Qualified Person" as defined by NI 43-101.

The geological information in this news release has been prepared in accordance with Canadian

regulatory requirements set out in National Instrument 43-101 Standards of Disclosures for Minerals

Projects of the Canadian Securities Administrators ("NI 43-101") and supervised, reviewed, and

verified by

Carl Schulze

, P.Geo., a "Qualified Person" as defined by NI 43-101.

QA/QC protocol for DDH22-01, including assurance of chain of custody, has been implemented.

Core samples are evenly cut by rock saw, then prepared and analyzed by ALS Geochemistry.

Prepared samples are initially run using a four-acid digestion process and conventional multi-element

ICP-AES analysis. Additional assaying for total copper and molybdenum is run using a four-acid

digestion – AES or AAS method to a 0.001% detection limit. Gold assays are run using 30-gram

samples by fire assay with an AA finish to a 0.005 ppm detection limit, with samples greater than 10

ppm finished gravimetrically. The QA/QC procedure involves regular submission of Certified

Analytical Standards and property-specific duplicates. Check samples are also included and are

sent to a secondary lab to test the primary labs' methods/procedures.

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. For more information, visit

www.westerncopperandgold.com

.

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.

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"). 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. In making the forward-looking statements herein, the Company has

applied certain material assumptions including, but not limited to, the assumption 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; 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.

SOURCE

Western Copper and Gold Corporation

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/January2023/17/c8618.html

%SEDAR: 00023684E

For further information:

Sandy Noyes, Director, Investor Relations, 604.638.2520 or

[email protected]

CO: Western Copper and Gold Corporation

CNW 06:30e 17-JAN-23