Mr. Sandeep Singh reports

WESTERN COPPER AND GOLD STRENGTHENS STRATEGIC PARTNERSHIP WITH MITSUBISHI MATERIALS

Western Copper and Gold Corp. has strengthened its relationship with Mitsubishi Materials Corp.

Western has entered into an amended and restated investor rights agreement with Mitsubishi Materials, most notably extending the rights and obligations thereunder until May 30, 2026, subject to Mitsubishi Materials acquiring two million common shares of the company through open market purchases. These purchases will be non-dilutive to existing shareholders, as no new shares will be issued by the company. Upon completion, Mitsubishi Materials' equity ownership in Western is expected to return to approximately 5 per cent.

"Mitsubishi Materials have been a supportive partner, and we are pleased to see them grow their ownership in Western," said Sandeep Singh, president and chief executive officer. "Their continued support through this proposed new investment, made through non-dilutive, open market purchases, is another vote of confidence in the team and the Casino project. The corresponding extension of rights reflects the productive and aligned relationship we've built, and we look forward to continuing to collaborate as we advance one of Canada's most important critical minerals projects."

About Western Copper and Gold Corp.

Western Copper and Gold 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.

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.