Western Copper and Gold Corp.

Published : March 28th, 2016

Western Copper and Gold Provides Casino Update and Reports Year-End Results

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Western Copper and Gold Provides Casino Update and Reports Year-End Results

VANCOUVER, B.C. Western Copper and Gold Corporation ('Western' or the 'Company') (TSX:WRN; NYSE MKT:WRN) has released its financial results for the year ended December 31, 2015.

This news release should be read in conjunction with the Company's audited consolidated financial statements for the year ended December 31, 2015, and the notes thereto, and management's discussion and analysis ('MD&A') for the year ended December 31, 2015. All figures in Canadian dollars ('$').

'I am very pleased that our prudent financial management has resulted in Western starting 2016 with over $10 million in cash in what have been challenging markets', said Dr. Paul West-Sells, President and Chief Executive Officer, 'The Casino project is one of the few world-class copper-gold projects that has remained economic through this most recent downturn in the markets, and we are well positioned to continue to advance this project in 2016.'

CASINO PROJECT

Western continued to advance the Casino Project in 2015.

Western submitted the Casino Project Proposal (the 'Project Proposal') to the Yukon Environmental and Socio-economic Assessment Board ('YESAB') for assessment in January 2014. Throughout 2015, the Company submitted two supplemental information reports to YESAB. At this point, the total application submitted represents over 14,000 pages of information and over three years of engagement with regulatory agencies and Federal, Territorial and First Nation Governments.

On February 18, 2016, the YESAB Executive Committee informed the Company that it is requiring that the Casino Project be reviewed by a panel (the 'Panel Review'), the highest level of assessment carried out by YESAB.

The first step in the process is for YESAB to provide Western with a list of required information through the release of the Environmental and Socio-Economic ('ESE') Guidelines. Western expects to receive the ESE Guidelines in mid-2016.

Western will continue work with Federal, Territorial and First Nation governments, as well as regulatory agencies to advance the project through the Panel Review process in 2016.
2015 FINANCIAL RESULTS

The scale and nature of the Company's corporate and administrative activity have remained relatively consistent over the last two years. For the year ended December 31, 2015, Western incurred a loss of $2.1 million ($0.02 per common share) compared to a loss of $1.9 million ($0.02 per common share) over the same period in 2014.
The Company incurred $3.8 million on advancing the Casino Project in 2015. This compares with $5.5 million in 2014. Over the last few years, the majority of Western's activities and expenditures relating to the Casino Project have focused on permitting, engineering, and wages for the employees who manage those functions.

Western ended the most recently completed financial year with $10.0 million in working capital, including $10.4 million in cash and short-term investments. This compares with $15.7 million in working capital, including $16.6 million in cash and short-term investments as at December 31, 2014.

FILINGS

The Company filed its annual information form, audited consolidated financial statements and MD&A for the year ended December 31, 2015 with the appropriate Canadian regulatory bodies on March 24, 2016. These filings are available for viewing on SEDAR at www.sedar.com.

The Company also filed its annual report on Form 20-F with the U.S. Securities and Exchange Commission for the year ended December 31, 2015 on March 24, 2016. Western's Form 20-F is available for viewing and retrieval through EDGAR at www.sec.gov/edgar.shtml.

The filings described above are available on the Company's website: www.westerncopperandgold.com. Western will also provide a copy of the filings to any shareholder, without charge, upon request. Requests may be made by email, telephone, or regular mail.

On behalf of the board,

'Paul West-Sells'
President and CEO

For more information, please contact:

Paul West-Sells,
President and CEO
or
Chris Donaldson,
Manager, Corporate Development
604.684.9497 or [email protected]
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 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; work programs; permitting or other timelines; strategic plans; 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 20-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 20-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.

Read the rest of the article at www.publicnow.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$ 218.7 millions as of today (US$ 174.9 millions, € 153.2 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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