Western Copper and Gold Corporation press release

Western Copper and Gold Announces Completion of C$25.6 Million Strategic Investment by Rio Tinto

2021-05-31

TSX - Toronto Stock Exchange · Copper · Gold · Molybdenum · Silver · Canada · Financing

Canada NewsWire

VANCOUVER, BC , May 31, 2021 /CNW/ - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) announces it has completed its previously announced C$25.6 million strategic investment by Rio Tinto Canada Inc. ("Rio Tinto"), to advance the Company's copper-gold Casino Project in the Yukon .

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Rio Tinto acquired 11,808,490 common shares at a price of C$2.17 per share for aggregate gross proceeds of approximately C$25.6 million , resulting in Rio Tinto owning approximately 8.0% of Western's outstanding shares.

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. 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

SOURCE Western Copper and Gold Corporation

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