WESTERN COPPER AND GOLD CORPORATION TSX WRN
NYSE AMERICAN WRN
DEVELOPING
CANADA'S LARGEST
CRITICAL MINERALS
PROJECT
Corporate Presentation May 2024
FORWARD LOOKING STATEMENTS
The information provided in this presentation is not intended to be a comprehensive review of all matters and developments concerning Western Copper and Gold Corporation and its subsidiaries (collectively, the "Company"). This document should be read in conjunction with all other disclosure documents of the Company. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented herein.
Statements contained in this presentation 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 of the Canadian Securities Administrators (collectively, "forward-looking statements"). Forward- looking statements in this presentation include, without limitation, statements regarding mineral reserve and resource estimates, planned exploration and development activities, corporate objectives, the economic prospects of the Company's projects, the Company's future plans or future revenues, and timing of development, or potential expansion or improvements. Such forward-looking statements are based on certain assumptions that the Company believes are reasonable, including, without limitation, with respect to any mineral reserve or resource estimate, the key assumptions and parameters on which such estimates are based, prevailing and projected market prices and foreign exchange rates, projected capital and operating costs, continued availability of capital and financing, availability of equipment and personnel required for 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. Forward-looking statements are subject to known and unknown risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund development; changes in general economic conditions or financial markets, changes in prices for the Company's mineral products or increases in input costs; uncertainties
relating to interpretation of drill results and the geological continuity and grade of mineral deposits; that mineral resources and reserves are not as estimated; risks related to cooperation of government agencies and First Nations in the exploration and development of the property; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments in Canada; technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities; labor relations matters, and changing foreign exchange rates, all of which are described more fully in the Company's filings with the applicable regulatory agencies. The Company 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 required by applicable securities legislation.
Cautionary Note to U.S. Readers/Investors:The United States Securities and Exchange Commission (the "SEC") permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce.
We use certain terms in this presentation, such as "measured", "indicated", and "inferred" "resources", that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and their economic and legal feasibility. It cannot be assumed that all or part of an inferred mineral resource will ever be upgraded to a higher category. Readers are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. U.S. investors are urged to consider closely the disclosure in the Company's Form 40-F, which may be obtained from the Company or from the SEC's website at www.sec.gov/edgar.shtml.
TSX | NYSE AMERICAN | WRN 2
CORPORATE OVERVIEW
TRADING | Toronto Stock Exchange, | WRN | TOP | Rio Tinto Canada | 9.7% | |||||
NYSE American | SHAREHOLDERS | |||||||||
April 26, 2024 | Fidelity Management & Research | |||||||||
CASH | Cash & Short-Term | |||||||||
(prior to recent financing) | 5.8% | |||||||||
Investments | C$81.9 M | Co. LLC | ||||||||
POSITION | ||||||||||
Dec 31, 2023 | + Recent Financings* | Board and Senior Management | 5.2% | |||||||
(*pro-forma) | Short/Long Term Debt | $Nil | ||||||||
Mitsubishi Materials | 4.8% | |||||||||
SHARE | Share Price | C$2.05 | ||||||||
STRUCTURE | Kopernik Global Investors, LLC | 2.8% | ||||||||
April 30, 2024 | Market Cap | C$402 M | ||||||||
Franklin Advisers, Inc. | 2.8% | |||||||||
Issued and Outstanding | 196,109,619 | |||||||||
(Basic)* | Claret Asset Management Corp. | 2.2% | ||||||||
Warrants | 1,500,000 | |||||||||
Konwave AG | 2.1% | |||||||||
Fully Diluted* | 207,684,462 | |||||||||
Dolefin SA | 0.7% | |||||||||
*Note: See further detail in press releases dated April 29, 2024 and April 30, 2024, filed on www.SEDAR.com. | TSX | NYSE AMERICAN | WRN 3 |
WRN & CASINO COPPER-GOLDPROJECT
CLEAR INVESTMENT THESIS
- One of the largest copper-gold projects in Canada
- Located in the Yukon - emerging mining district
- New Feasibility Study shows robust economics and long life
- Strong copper market
CONTINUING TO ADD VALUE
- Significant resource expansion in 2020
- PEA released in 2021
- Feasibility Study released in 2022
- Strategic investments from Rio Tinto and Mitsubishi
- Permitting work progressing
TSX | NYSE AMERICAN | WRN 4
STRATEGIC INVESTMENTS
Initial Investment May 2021
C$25.6M May 2021
C$2.3M | Top-up April 2023 | C$21.3M |
C$6.0M | New rights Nov 2023 | |
C$0.3M | Top-up March 2024 | Initial Investment March 2023 |
C$5.0M | Top-up April 2024 | |
RIO TINTO KEY RIGHTS*
Rio has the right to appoint:
- A member to Casino Copper-Gold Technical Committee
- A non-voting observer to attend all meetings of the board
- One director of the Company, if Rio Tinto's ownership increases to at least 12.5%
- Three secondees to the Casino Copper-Gold Project
Key Rights expire May 2025*
*Note: Rights expiry also subject to strategic investors maintaining ownership thresholds.
MITSUBISHI KEY RIGHTS*
Mitsubishi has the right to appoint:
- A member to Casino Copper-Gold Technical and Sustainability Committee
- One director of the Company, if Mitsubishi's ownership increases to at least 12.5%
- Right of first negotiation to offtake
Key Rights expire March 2025*
TSX | NYSE AMERICAN | WRN 5
THE WORLD NEEDS A LOT MORE COPPER
COPPER
KEY TO LIMITING CLIMATE CHANGE
- To keep global warming under 1.5 degrees, annual copper supply needs to grow by more than 12 Mt in the next 10 years - growth only 7 Mt in the past 20 years
- There are limited copper projects under development
- Copper inventories are at lowest levels in a decade
12 million tonnes copper equal to over 150 new Casino mines!
supply
5 Year LME Copper Warehouse Stocks Level
demand
Copper Needed in the Transportation Industry
Tonnes Copper
Electric Bus
Hybrid Bus
Electric Car
Plug-in Hybrid Car
Hybrid Car
Conventional Car
China adds a London-sized electric bus fleet every five weeks!
Source: CRU, Kitco, VanEck, Bloomberg.
0 | 50 | 100 | 150 | 200 | 250 | 300 | 350 |
Contained Copper (kg) | |||||||
TSX | NYSE AMERICAN | WRN | 6 |
CASINO COPPER-GOLD AN ATTRACTIVE COPPER/GOLD MINE
Contained | 46% |
Metal Value Distribution | COPPER |
in the M&I Mill Resource |
COPPER | GOLD | |
7.6 Billion lbs | 14.8 Million oz | |
M+I Resources | M+I Resources | |
+3.1 Billion lbs | +6.3 Million oz | |
Inferred Resources | Inferred Resources | 4% |
SILVER |
Source: Casino Copper-Gold 2022 Feasibility Study. US$3.60/lb copper, US$1,700/oz gold, US$22/oz silver, and US$14/lb moly.
See "Notes" in Appendix.
34%
GOLD
17%
MOLYBDENUM
TSX | NYSE AMERICAN | WRN 7
CASINO
COPPER-GOLD PROJECT
CASINO COPPER-GOLDDEPOSIT
HEAP LEACH RESERVE | Core Zone |
209.6 Million Tonnes @ 0.28 g/t AuEq (P&P) |
MILL RESERVE
1.22 Billion Tonnes @ 0.40% CuEq (P&P)
Notes: Looking North, North longitudinal section +6958634.51. Based on Casino Copper-Gold 2022 Feasibility Study. See "Notes" in Appendix.
CuEq | |
Final Pit | 1.0 |
Outline | |
0.8 | |
0.6 | |
0.4 | |
0.3 | |
0.2 | |
0.1 | |
TSX | NYSE AMERICAN | WRN 9
CORE ZONE GRADES CONFIRMED BY DRILLING
Results confirmed or, in some cases, improved upon historical drilling Casino Copper-Gold Core Zone
800 m X 500 m zone in the centre of the deposit
Primarily breccia geology
Grades significantly higher in this zone as compared to the overall resource grade
DDH21-07
289.6 m 1.01% CuEq from 36.6 m
DDH21-09
65.8 m 2.53% CuEq from 10.6 m
MINERAL RESOURCE - MILL MATERIAL BY NSR CUTOFF (C$)
NSR | Class | Mt | Copper | Gold | Moly | Silver | CuEq |
Cog ($/t) | (%) | (g/t) | (%) | (g/t) | (%) | ||
Measured | 144.9 | 0.30 | 0.38 | 0.024 | 2.1 | 0.64 | |
6.11 | Indicated | 2,114.2 | 0.14 | 0.16 | 0.015 | 1.4 | 0.29 |
M+I | 2,259.0 | 0.15 | 0.18 | 0.016 | 1.4 | 0.31 | |
Measured | 102.3 | 0.35 | 0.46 | 0.029 | 2.3 | 0.77 | |
30 | Indicated | 328.2 | 0.26 | 0.29 | 0.030 | 2.2 | 0.52 |
M+I | 430.5 | 0.28 | 0.33 | 0.029 | 2.2 |
Note: See News Release dated November 29, 2021. Resource from Casino Copper-Gold 2022 Feasibility Study. See "Notes" in Appendix.
CuEq
1.0
0.8
0.6
0.4
0.3
0.2
0.1
TSX | NYSE AMERICAN | WRN 10
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Western Copper and Gold Corporation published this content on 06 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2024 16:42:04 UTC.
