Western Copper and GOLD Provides Update ON Casino Assessment Process
WESTERN COPPER AND GOLD PROVIDES
UPDATE ON CASINO ASSESSMENT
PROCESS
VANCOUVER, BC
,
Oct. 31, 2022
/CNW/ - Western Copper and Gold Corporation ("Western" or the
"Company") (TSX: WRN) (NYSE American: WRN) through its wholly-owned subsidiary, Casino
Mining Corporation ("Casino") has been informed by the Executive Committee of the Yukon
Environmental and Socio-Economic Assessment Board ("YESAB") that it is necessary to revise the
Environmental and Socio-Economic Statement Guidelines (the "Guidelines"), which were issued
June
20, 2016
following the Casino Copper-Gold Project's (the "Project") referral to a Panel of the Board
(the "Panel Review").
The need to revise the Guidelines is the result of discussions between the Company and YESAB on
how to address changes in assessment methods, environmental best practices, and enhancements
to the Project that have occurred since the issuance of the original Guidelines in 2016. The revision
process will commence immediately and is not expected to have a material impact on overall
permitting timelines.
The Guidelines are an important component of the Panel Review process and outline the structure
and scope of the Environmental and Socio-Economic Statement Casino will submit to describe the
potential effects of the Project, showing stakeholders how the Project can be developed in a socially
and environmentally responsible way.
Revising the Guidelines ensures that the Panel Review process reflects leading industry best
practices. The revision process includes a public comment period that provides Casino with an
opportunity to engage the broader public in addition to Federal, Territorial and First Nation
governments.
"The Company is committed to ensuring that review of the Casino Project occurs in a robust manner
using the most up to date methodologies in environmental assessment and this review will achieve
that without material impact to overall timelines." stated
Paul West-Sells
, President and Chief
Executive Officer. "We remain confident that the Casino Project is a great asset for
Yukon
that will
provide benefits to
Yukon
communities and First Nations for generations to come."
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
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.
SOURCE
Western Copper and Gold Corporation
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For further information:
Sandy Noyes, Director, Investor Relations, 604.638.2520 or
CO: Western Copper and Gold Corporation
CNW 06:02e 31-OCT-22