Mr. Sandeep Singh reports

WESTERN COPPER AND GOLD ANNOUNCES COMPLETION OF BOUGHT DEAL PUBLIC OFFERING OF $92 MILLION

Western Copper and Gold Corp. has completed its previously announced bought deal public offering of 22,169,125 common shares of the company at a price of $4.15 per common share for gross proceeds of $92,001,868.75, including the full exercise of the overallotment option.

The offering was completed pursuant to an underwriting agreement dated Feb. 12, 2026, entered into between the company and a syndicate of underwriters led by Stifel Canada, and including ATB Capital Markets Corp., National Bank Financial Inc., Agentis Capital Markets, BMO Capital Markets, Canaccord Genuity Corp., CIBC World Markets Inc., and H.C. Wainwright & Co. LLC. In connection with the offering, the company paid the underwriters a cash commission equal to 5.0 per cent of the gross proceeds, other than on sales of an aggregate of 1,098,500 common shares to purchasers on a president's list.

The net proceeds from the sale of the common shares are expected to be used to advance permitting and engineering activity at the company's Casino project in Yukon, and for general corporate and working capital purposes.

The offering was completed by way of a short form prospectus filed in all of the provinces of Canada, except Quebec, and in the United States pursuant to a prospectus filed as part of a registration statement on Form F-10 under the Canada/U.S. multijurisdictional disclosure system. The prospectus is available on SEDAR+. The registration statement is available on EDGAR.

Certain directors and officers of the company participated in the offering. The insiders' participation in the offering constitutes a related party transaction as defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of 61-101 in respect of the offering as neither the fair market value of the securities issued to the insiders nor the consideration paid by the insiders for such securities exceed 25 per cent of the company's market capitalization. The company will file a material change report in respect of the offering. However, the company did not file a material change report 21 days prior to closing of the offering as the participation of insiders of the company in the offering had not been confirmed at that time.

About Western Copper and Gold Corp.

Western Copper and Gold is advancing the Casino project, Canada's premier copper-gold mine in Yukon and one of the most economic greenfield copper-gold mining projects in the world.

The company is committed to working collaboratively with first nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.

We seek Safe Harbor.