Western Copper and Gold Corporation (TSX: WRN) (NYSE American: WRN) is pleased to report that it has completed the private placement previously announced on February 21, 2020 wherein strategic investor, Michael Vitton, purchased 3,000,000 units at a price of $0.65 per Unit to raise gross proceeds of $1.95 million.The proceeds from the Private Placement will be used for development of the Casino Project and for general corporate purposes.

Each Unit consists of one common share of the Company and half of one warrant. Each Warrant entitles the holder to purchase one additional Share at a price of $0.85 until February 28, 2025.

The Shares, Warrants and any Shares issued upon exercise of the Warrants are subject to a hold period and may not be traded until June 29, 2020 except as permitted by applicable securities legislation and the rules and policies of the Toronto Stock Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable securities laws or an exemption from such registration is available.

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.