VANCOUVER,
BC, Feb. 24, 2022 /CNW/ -
Western Copper and Gold Corporation ("Western" or the "Company")
(TSX: WRN) (NYSE American: WRN), through its wholly owned
subsidiary Casino Mining Corp. is pleased to provide an update
on the process to permit its wholly-owned Casino copper-gold
project ("Casino" or "Project") and other activities in the
Yukon that impact the Project.
The Yukon Government has commenced construction
of the Carmacks Bypass Project, required for Casino's construction
and operation, following award of the contract in November 2021 (see Press Release dated
November 9th, 2021). The
Carmacks Bypass will allow industrial vehicles to circumvent the
Village of Carmacks; reducing
heavy traffic and increasing community safety, while improving
access to the Casino Project site located approximately 200 km from
the community.
Advancing permitting, the Company has retained
leading Canadian environmental consultancy firm Hemmera to lead
preparation of an Environmental and Socio-economic Statement ("ESE
Statement") for the Casino Project. The ESE Statement, which is
anticipated for submission to the Yukon Environmental and
Socio-economic Assessment Board ("YESAB") in the second quarter of
2023, is a key component in YESAB's assessment process for the
proposed Casino Project.
Hemmera is a wholly-owned subsidiary of
Ausenco Engineering Canada Inc. with primary office locations in
Vancouver, Whitehorse, Burnaby, Victoria, Calgary, Toronto, and Halifax and a strong project presence in
Northern and Western Canada.
Hemmera is managing the regulatory process for Newmont
Corporation's Coffee Gold Mine Project ("Coffee"). Earlier this
year, YESAB issued its recommendation that Coffee proceed. Coffee
is located 20 km from the Casino Project.
"The Casino Project continues to advance with
construction starting on the Carmacks Bypass and bringing in
Hemmera to lead our ESE statement preparation," stated Dr.
Paul West-Sells, President and CEO.
"Hemmera's team, many of whom are based in Whitehorse, know the Yukon's regulatory environment and
socio-economic situation well. Their team, like ours, understands
the importance of engagement and consultation with First Nations
and communities to ensure our Project reflects Yukoners' priorities
and values."
Since 2016, when the Casino Project was referred
to Panel Review by YESAB, Casino has continued to advance the
Project by engaging with affected Yukon First Nations governments
and communities, completing several Traditional Knowledge and
environmental studies, conducting several drill campaigns, and
finalizing a Preliminary Economic Assessment ("PEA") on the
Project.
The PEA includes important refinements to many
Casino Project components, including to the tailings and waste
management infrastructure, which incorporated improvements
identified by the Best Available Tailings Technology Study ("BATT
Study") completed in 2018 with participation by Yukon First
Nations, YESAB and the Yukon Government.
In October 2021,
Casino engaged the services of M3 Engineering & Technology
Corporation to conduct a Feasibility Study of the Casino Project,
which remains on schedule to be complete in the second quarter of
2022.
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
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. These forward-looking statements may include,
but are not limited to, statements regarding perceived merit of
properties; mineral reserve and resource estimates; capital
expenditures; feasibility study results (including projected
economic returns, operating costs, and capital costs in connection
with the Casino Project); exploration results at the Company's
property; budgets; permitting or other timelines; economic benefits
from the mine and/or the access road; strategic plans; market price
of precious and base metals; or other statements that are not
statement of fact. In making the forward-looking statements herein,
the Company has applied certain material assumptions including, but
not limited to, the assumptions that the circumstances surrounding
the COVID-19 pandemic, although evolving, will stabilize or at
least not worsen; that the extent to which COVID-19 may impact the
Company, including without limitation disruptions to the mobility
of Company personnel, increased labour and transportation costs,
and other related impacts, will not change in a materially adverse
manner; that all regulatory approvals required to complete the
Company's planned exploration and development activities will be
received in a timely manner and on acceptable terms; that the
Company is able to procure personnel, equipment and supplies
required for its exploration and development activities in
sufficient quantities and on a timely basis; and 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; COVID-19 risks to employee health and
safety and a slowdown or temporary suspension of operations in
geographic locations impacted by an outbreak; uncertainties related
to raising sufficient financing in a timely manner and on
acceptable terms; 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