WESTERN COPPER AND GOLD EXTENDS TECHNICAL COLLABORATION WITH RIO TINTO

Rhea-AI Summary

Western Copper and Gold (WRN) has announced an extension and revision of its Investor Rights Agreement with Rio Tinto Canada. Under the revised agreement, Rio Tinto will maintain its position on the Casino Technical and Sustainability Committee (TSC) alongside Mitsubishi Materials and Western representatives. The agreement extends until November 30, 2026, or until Rio Tinto's ownership drops below 5%. While Rio Tinto's standstill and trading restrictions remain in effect, their previous board observer right and potential board seat rights have been removed. The collaboration aims to leverage Rio Tinto's expertise while allowing Western to maintain greater board independence.

Positive

• Continued technical collaboration with mining giant Rio Tinto through TSC membership
• Rio Tinto remains a supportive shareholder providing valuable expertise
• Western gains more independence in board governance while maintaining strategic partnership

Negative

• Reduction in Rio Tinto's rights with removal of board observer and potential board seat positions
• Agreement has a relatively short term, expiring by November 2026

VANCOUVER, BC, June 16, 2025 /PRNewswire/ - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce an extension and revision of its Investor Rights Agreement ("IRA") with Rio Tinto Canada Inc. ("Rio Tinto").

As part of a revised IRA, Rio Tinto will continue to hold a seat on the Casino Technical and Sustainability Committee ("TSC"), along with one representative from Mitsubishi Materials and three from Western, to promote ongoing technical collaboration. Rio Tinto's existing standstill and trading restrictions, along with certain other obligations, will remain in effect, while the previous board observer right and potential board seat rights have been extinguished. The revised IRA will expire on the earlier of November 30, 2026, or when Rio Tinto's ownership falls below 5%.

"We are pleased to maintain Rio Tinto's presence on the TSC as it has been mutually beneficial to both Western and Rio Tinto," said Sandeep Singh, President and CEO. "Rio Tinto remains a supportive shareholder, and we value the expertise they bring to bear on the project. It did make sense, however, to refine some of the previous rights, especially as we have taken steps to enhance our own independent board of directors over time."

ABOUT WESTERN COPPER AND GOLD CORPORATION

Western Copper and Gold Corporation 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 our First Nations and local communities to progress the Casino Project, using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com.

On behalf of the board,

"Sandeep Singh"

Sandeep Singh
President and CEO
Western Copper and Gold Corporation

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "opportunities", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Such forward-looking statements herein include statements regarding the ongoing rights and obligations of Rio Tinto and the progression of the Casino Project.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the risk of unforeseen challenges in advancing the Casino project, potential impacts on operational continuity, changes in general market conditions that could affect the Company's performance; and other risks and uncertainties disclosed in the Company's annual information form and Form 40-F for the most recently completed financial year and its other publicly filed disclosure documents.

Forward-looking statements are based on assumptions management believes to be reasonable, such assumptions and factors as set out herein, and in the Company's annual information form and Form 40-F for the most recently completed financial year and its other publicly filed disclosure document.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, other factors may cause results to be materially different from those anticipated, described, estimated, assessed or intended. These forward-looking statements represent the Company's views as of the date of this news release. There can be no assurance that any forward-looking statements will be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend to and does not assume any obligation to update forward-looking statements other than as required by applicable law.

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SOURCE Western Copper and Gold Corporation

FAQ

What are the key terms of WRN's extended agreement with Rio Tinto?

Rio Tinto maintains its seat on the Casino Technical and Sustainability Committee, keeps standstill and trading restrictions, but loses board observer and potential board seat rights. The agreement expires November 30, 2026, or when Rio Tinto's ownership falls below 5%.

Who are the members of Western Copper and Gold's Casino Technical and Sustainability Committee?

The committee consists of one representative from Rio Tinto, one from Mitsubishi Materials, and three representatives from Western Copper and Gold.

When does Western Copper's agreement with Rio Tinto expire?

The agreement expires on the earlier of November 30, 2026, or when Rio Tinto's ownership falls below 5%.

What rights did Rio Tinto lose in the revised agreement with WRN?

Rio Tinto lost its board observer right and potential board seat rights in the revised agreement.

Why did Western Copper and Gold revise its agreement with Rio Tinto?

The revision allows Western to enhance its independent board of directors while maintaining Rio Tinto's valuable technical expertise through the Technical and Sustainability Committee.