Western Copper and Gold Reports 2025 Annual Results and Corporate Update

Press Release

Vancouver, B.C. Western Copper and Gold Corporation (“Western” or the “Company”) (TSX: WRN; NYSE American: WRN) is pleased to announce the filing of its fourth quarter and annual financial results for the year ended December 31, 2025. The audited consolidated financial statements and management’s discussion and analysis (“MD&A”) are available on the Company’s website at www.westerncopperandgold.com and have been filed under the Company’s profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.

All references to currency in this news release are in Canadian dollars, unless otherwise noted.

Highlights and Recent Developments

• Financial Summary: As of December 31, 2025, the Company held cash, cash equivalents and short-term investments of $50.5 million. During the year, the Company invested $21.6 million in exploration and evaluation activities to advance permitting and engineering at the Casino Project. Subsequent to year-end, the Company closed an upsized $92.0 million bought deal public offering (22,169,125 common shares at $4.15 per share), significantly strengthening its financial position.   As of March 26, 2026, the Company held cash, cash equivalents and short-term investments of approximately $135 million.
• Key Technical Appointments: On January 12, 2026, the Company announced the appointment of Bob Dirk as Chief Operating Officer and Christian Roldan as Vice President, Technical. Mr. Dirk brings 37 years of experience, including 20 years at Suncor Energy where he served as the senior operational leader on the Fort Hills mega-project. Mr. Roldan brings over 25 years of mine lifecycle experience, including senior roles with Newmont and direct experience navigating the Yukon Environmental and Socio-economic Assessment Board (“YESAB”) assessment process, having successfully advanced the Coffee Project to a positive recommendation in the Yukon.
• YESAB Panel Review Progressing: On October 3, 2025, the Company submitted its Environmental and Socio-economic Effects Statement (“ESE Statement”) to YESAB. As part of the sufficiency review phase, the Company is preparing responses to supplementary information and clarification requests received from YESAB’s Executive Committee. The sufficiency review process may involve additional requests by YESAB before it is concluded. Upon a determination of sufficiency, the Executive Committee will proceed to formally establish the Panel to conduct its technical analysis of the Project.
• Government of Yukon Takes Action to Support Major Mines: On March 2, 2026, the Government of Yukon announced a restructuring of its Mineral Resources Branch, creating a dedicated Major Mines and Technical Services branch and establishing a Deputy Minister’s Oversight Committee on Major Mines and Critical Minerals. These measures are designed to improve coordination, reduce permitting delays, and provide regulatory certainty for mine development projects in the territory.
• Infrastructure Advancement in the North: On November 13, 2025, Prime Minister Carney referred the Northwest Critical Conservation Corridor – including the proposed Yukon-B.C. Grid Connect – to the federal Major Projects Office to accelerate its development.

Sandeep Singh, President and Chief Executive Officer stated, “Western has spent years preparing for this stage of Casino’s development. Over the past several months, we submitted our ESE Statement, brought on additional technical leadership, and closed a $92 million financing. We continue to responsibly progress one of Canada’s most significant mining projects through the early stages of an assessment process, at a time when advancing these types of projects is of critical importance, and into a positive market backdrop.”

ABOUT WESTERN COPPER AND GOLD CORPORATION

Western Copper and Gold Corporation is advancing the Casino Project, Canada’s premier copper-gold mine in the Yukon and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with 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

President & CEO

Western Copper and Gold Corporation

For more information, please contact:

Cameron Magee
Director, Investor Relations & Corporate Development
Western Copper and Gold Corporation
437-219-5576 or cmagee@westerncopperandgold.com

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