Western Copper and GOLD Provides Update ON the Port of Skagway
WESTERN COPPER AND GOLD PROVIDES
UPDATE ON THE PORT OF SKAGWAY
VANCOUVER, BC
,
Dec. 5, 2023
/CNW/ - Western Copper and Gold Corporation ("Western" or the
"Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce during the 2023 Fall
Sitting of the Yukon Legislative Assembly, the Yukon Government approved
$21.4 million
for
investment in the Municipality of
Skagway's
(or "Skagway") redevelopment of their dock
infrastructure to include a Marine Services Platform ("MSP") to continue to support ore export for the
Yukon
mining industry.
The approval of this investment follows the Yukon Government signing of a term sheet with
Skagway
on
September 7, 2023
, outlining the terms and conditions of the investment, proposing an initial 35-
year preferential access to the port with an option to extend for another 15 years, as well as a
significant investment in the initial engineering of the MSP. The
Yukon
government is currently
working towards finalizing an Export Cooperation Agreement with
Skagway
.
The MSP at
Skagway
is located in South-east
Alaska
and is 560 km from, and is the closest
tidewater port to, the
Casino
Project. The Port of
Skagway
has historically been the preferred port
to ship concentrates from the
Yukon
, and most recently was used to ship copper concentrates from
the Minto Mine.
"Further investment and commitment from the Yukon Government in advancing infrastructure for the
mining industry is another step in the right direction to advancing the
Casino
Project." said
Paul
West-Sells
, President and Chief Executive Officer. "We remain confident that the
Casino
Project is a
great asset for the
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 06:00e 05-DEC-23