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Western Copper and Gold Closes Private Placement of Flow-through Common Shares
Published : October 05, 2012
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Western Copper and Gold Closes Private Placement of Flow-through Common Shares

VANCOUVER, Oct. 5, 2012 /CNW/ - Western Copper and Gold Corporation ("Western" or the "Company") (News - Market indicators) (NYSE MKT: WRN) is pleased to announce that it has closed the non-brokered private placement for 500,000 flow-through common shares announced on September 25, 2012 involving certain insiders of the Company at a price of $0.80 per share for gross proceeds of $400,000.

The private placement closed on October 4, 2012. Insiders of the Company purchased 480,000 shares of the private placement. In accordance with securities legislation currently in effect, the shares are subject to a hold period expiring on February 5, 2013.

The gross proceeds from this private placement, which is subject to final acceptance by the TSX, will be used to incur qualifying Canadian Exploration Expenses.

The Company did not file a material change report more than 21 days before the expected closing of the private placement as the details of the private placement and the participation therein by related parties of the Company were not settled until shortly prior to closing and the Company wished to close the private placement on an expedited basis for sound business reasons.

ABOUT WESTERN COPPER AND GOLD CORPORATION

Western Copper and Gold Corporation is a Vancouver-based exploration and development company with significant copper, gold and molybdenum resources and reserves.  The Company has 100% ownership of the Casino Project located in the Yukon Territory. The Casino Project is one of the world's largest open-pittable gold, copper, silver and molybdenum deposits. For more information, visit www.westerncopperandgold.com.

On behalf of the board,

"Dale Corman"
F. Dale Corman
Chairman & CEO

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

Certain of the statements and information in this press release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws.  Forward-looking statements and information generally express predictions, expectations, beliefs, plans, projections, or assumptions of future events or performance and do not constitute historical fact.  Forward-looking statements and information tend to include words such as "may," "expects," "anticipates," "believes," "targets," "forecasts," "schedules," "goals," "budgets," or similar terminology.  Forward-looking statements and information herein include, but are not limited to, statements with respect to the completion of the private placement and use of proceeds.  All forward-looking statements and information are based on Western Copper and Gold's or its consultants' current beliefs as well as various assumptions made by and information currently available to them.  These assumptions include, without limitation that regulatory approvals to the proposed private placement and proposed listings will be obtained in a timely manner. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.  Forward-looking statements and information are inherently subject to significant business, economic, and competitive uncertainties and contingencies and are subject to important risk factors and uncertainties, both known and unknown, that are beyond Western Copper and Gold's ability to control or predict.  Actual results and future events could differ materially from those anticipated in forward-looking statements and information.  Important factors that could cause actual results to differ materially from the Company's expectations include market prices, availability of capital and financing, general economic, market and business conditions, and timeliness of regulatory approvals. Examples of potential risks are set forth in Western Copper and Gold's annual report most recently filed with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators as of the date of this press release.  Accordingly, readers should not place undue reliance on forward-looking statements or information.  Western Copper and Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

SOURCE: Western Copper and Gold Corporation

For further information:

Paul West-Sells, President and COO or Justin Rasekh, Manager Corporate Communications and Investor Relations by telephone at 604.684.9497 or by email at info@westerncopperandgold.com.

Western Copper and Gold Corp.

DEVELOPMENT STAGE
CODE : WRN.TO
ISIN : CA95805V1085
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Western Copper and Gold is a copper development stage company based in Canada.

Western Copper and Gold develops copper, gold, molybdenum and silver in Canada, and holds various exploration projects in Mexico.

Its main assets in development are CASINO and CARMACKS in Canada and its main exploration properties are HUSHAMU (ISLAND COPPER) and REDSTONE - LUMINA in Canada and SIERRA ALMOLOYA in Mexico.

Western Copper and Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 222.5 millions as of today (US$ 177.9 millions, € 155.8 millions).

Its stock quote reached its lowest recent point on March 06, 2009 at CA$ 0.24, and its highest recent level on January 21, 2011 at CA$ 4.40.

Western Copper and Gold has 95 090 000 shares outstanding.

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Annual reports of Western Copper and Gold Corp.
2008 Annual report
Financings of Western Copper and Gold Corp.
12/12/2012and Gold's warrants to expire
10/5/2012and Gold Closes Private Placement of Flow-through Common ...
11/27/2009 Flow-through Financing
7/13/2009Closes C$4 Million Flow-Through Financing And Commences Expl...
Nominations of Western Copper and Gold Corp.
11/25/2008 APPOINTS NEW EXECUTIVE VICE PRESIDENT
Financials of Western Copper and Gold Corp.
3/25/2013and Gold Reports 2012 Financial Results
Project news of Western Copper and Gold Corp.
5/17/2011(Casino)Files Casino Pre-Feasibility Study Technical Report
4/7/2011(Casino)Announces Updated Pre-Feasibility Study on Casino Project
3/29/2011(Carmacks)Provides Update on Carmacks
2/25/2011(Carmacks)Comments on Carmacks Water License Appeal Rulin
5/13/2010(Carmacks)Provides Detail on Carmacks Water Use Licence
5/11/2010(Carmacks)Carmacks Project Water Use Licence Decision
2/20/2009(Carmacks)Update on Carmacks Copper Project
5/20/2008The Carmacks Copper Project advances in the permitting proce...
2/29/2008(Carmacks)Yesab responds to public comments on the Carmacks Copper Pro...
5/22/2007(Carmacks)2007 Technical report
Corporate news of Western Copper and Gold Corp.
6/23/2016WESTERN COPPER AND GOLD PROVIDES CASINO UPDATE AND ANNOUNCES...
3/28/2016Western Copper and Gold Provides Casino Update and Reports Y...
4/15/2015Western Copper and Gold to Attend the European Gold Forum in...
3/30/2015Western Copper and Gold Provides Casino Update and Reports Y...
3/30/2015(Casino)and Gold Provides Casino Update and Reports Year-End Results
2/26/2015Yukon Ranks 1st in Mineral Potential and 9th Overall in the ...
11/28/2014Western Copper And Gold Announces Restart Of Environmental R...
10/22/2014Western Copper and Gold Announces Changes to Board of Direct...
9/9/2014Western Copper and Gold Announces Operating Strategy for Cas...
8/25/2014Western Copper and Gold Selects M3 as EPCM Contractor and Pr...
6/25/2014Western Copper and Gold Announces AGM Results
6/3/2014Western Copper and Gold and Little Salmon/Carmacks First Nat...
5/15/2014Siemens and Western Copper & Gold Corp. Sign MoU for Electri...
3/24/2014Western Copper And Gold Files Year-End Financial Reports
9/17/2013(Casino)and Gold Provides Update on Casino
6/21/2013and Gold Announces AGM Results
6/14/2013and Gold's Annual General Meeting
4/25/2013and Gold Adopts Shareholder Rights Plan and Advance Notice P...
4/8/2013(Casino)and Gold's Casino Project to Have Significant Impact on Yuko...
2/13/2013and Gold files feasibility study
10/3/2011shareholders approve spin-out of Copper North Mining Corp. a...
8/19/2011Enters Into Arrangement Agreement to Spin Out Assets to Shar...
8/11/2011to Ring the Opening Bell at the New York Stock Exchange
6/23/2011Announces Intention to Spin Out Assets to Shareholders
2/8/2011to Trade on the NYSE Amex
3/27/2010New Director and Change to Management Team
9/22/2009Board of Directors Changes
7/21/2008YESAB Recommends That the Carmacks Copper Project Proceeds
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