Western Copper and GOLD Welcomes Federal Funding FOR B.c.-Yukon Grid Connect Project
WESTERN COPPER AND GOLD WELCOMES FEDERAL FUNDING FOR
B.C.-YUKON GRID CONNECT PROJECT
WHITEHORSE, YT
,
Sept. 23, 2024
/CNW/ - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN)
welcomes the recent announcement by Natural Resources Canada ("NRCan"), conditionally approving
C$40 million
in federal funding to undertake pre-feasibility
activities to advance a high-voltage transmission line network connecting the
Yukon
electrical grid to the North American grid in
British Columbia
. This funding
would be provided through the Critical Minerals Infrastructure Fund ("CMIF").
The announcement was made on
September 20, 2024
, by the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, with the Honourable
Josie Osborne,
British Columbia's
Minister of Energy, Mines and Low Carbon Innovation, and the Honourable Ranj Pillai, Premier of the
Yukon
.
The government announcement stresses the importance of investments in critical minerals infrastructure to enable
Canada
to seize the generational opportunity to
transition to a low-carbon economy and capitalize on the country's rich mineral resources.
As discussions around the grid connection evolve, the
Casino
Copper-Gold Project's ("
Casino
" or the "Project") future energy demand could play an important role
in shaping strategic investments that enhance connectivity, providing lasting benefits for the
Yukon
and its communities.
Sandeep Singh
, Chief Executive Officer, stated: "This is a meaningful step toward advancing much-needed energy infrastructure in the
Yukon
, with potential to
support
Canada's
broader focus on improving the environmental performance and sustainability of critical mineral development.
While
Casino
's feasibility study demonstrates a highly viable project using liquefied natural gas power, a potential future pathway to hydro grid power would be
transformative, allowing the Project's critical minerals to be produced while minimizing its carbon footprint."
NRCan's full announcement can be found at
https://www.canada.ca/en/natural-resources-canada/news/2024/09/canada-announces-significant-funding-to-unlock-more-critical-minerals-development-in-northern-british-columbia-and-the-yukon.html
.
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
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.
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CNW 06:30e 23-SEP-24