Western Copper And Gold Corporation · TSX:WRN
Western Copper And Gold — Conference Presentation (May 2021)
40 slides from Western Copper And Gold's conference presentation, May 2021
Slide 1: May 2021
MAY 2021 TSX : WRN I NYSE AMERICAN : WRN
Slide 2: Forward Looking Statements
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 al
Slide 3: Clean and Tightly-Held Ownership Structure
CLEAN AND TIGHTLY-HELD OWNERSHIP STRUCTURE TRADING Toronto Stock Exchange, NYSE American WRN CASH POSITION Cash & Short Term Investments C$ 26.9 million March 31, 2021 + Rio Tinto Investment* C$ 25.6 million *Closing May 31, 2021 Short/Long Term Debt $Nil SHARE STRUCTURE Share Price C$ 2.02 May 10,
Slide 4: Rio Tinto Strategic Investment
RIO TINTO STRATEGIC INVESTMENT Rio’s investment provides opportunity for Rio to gain a better understanding of Casino, with a focus on technical, regulatory, and community aspects of the project. TERMS* Rio has the right to appoint: A member to Casino Project Technical Committee A non-voting o
Slide 5: WRN and the Casino Deposit
WRN AND THE CASINO DEPOSIT ALASKA YUKON SIGNIFICANT COPPER-GOLD PROJECT One of the largest copper-gold projects in Canada CASINO PROJECT New increased resource Whitehorse Straightforward project – open pit, standard flowsheets, good Skagway infrastructure LOCATED IN THE RIGHT PLACE Yukon, Ca
Slide 6: Significant Copper-Gold Project
SIGNIFICANT COPPER-GOLD PROJECT
Slide 7: An Attractive Copper or Gold Mine
AN ATTRACTIVE COPPER OR GOLD MINE Silver, 4% Moly, 18% Copper, 41% GOLD COPPER 14.5 M 7.6 B oz M+I Resources lbs M+I Resources + + Gold, 38% 6.6 M 3.3 B oz Inferred Resources lbs Inferred Resources CONTAINED METAL VALUE DISTRIBUTION IN THE M&I MILL RESOURCE Source: 2020 Resource. US$2.75/lb copper,
Slide 8: Significant Copper Deposit
SIGNIFICANT COPPER DEPOSIT ■ Measured & Indicated Resources ■ Inferred Resources Notes: Peer group data as per latest company documents and public files. See “Notes” in Appendix for equivalent calculations. No discount for metallurgical recovery. TSX : WRN I NYSE AMERICAN : WRN Developing Canada’s P
Slide 9: Significant Gold Deposit
SIGNIFICANT GOLD DEPOSIT ■ Measured & Indicated Resources ■ Inferred Resources Notes: Peer group data as per latest company documents and public files. See “Notes” in Appendix for equivalent calculations. No discount for metallurgical recovery. TSX : WRN I NYSE AMERICAN : WRN Developing Canada’s Pre
Slide 10: Casino Deposit
CASINO DEPOSIT Heap Leach Resource: 217 Million Tonnes @ 0.27 g/t AuEq (M&I) 31 Million Tonnes @ 0.18 g/t AuEq (Inferred) Mill Resource: 2.17 Billion Tonnes @ 0.36% CuEq (M&I) 1.43 Billion Tonnes @ 0.24% CuEq (Inferred) Notes: East—west longitudinal section 6958400 N. Based on 2020 Resource. See “No
Slide 11: Core Zone
CORE ZONE Casino Core Zone 800 m X 500 m zone in the center of the deposit Primarily breccia geology Grades significantly higher in this zone as compared to the overall resource grade 2020 Mineral Resource - Mill Material by NSR Cutoff (C$) NSR Cog Class Copper Gold Moly Silver CuEq ($/t) Mt (
Slide 12: Good Grade
GOOD GRADE MINERAL RESOURCE COMPARES FAVORABLY WITH OPERATING MINES Casino Mill M+I ($16/t NSR) (1322 Mt) Casino Mill M+I ($5.70/t NSR) (2173 Mt) CASINO Operating Mine Average Copper Mountain - CMMC (466 Mt) Gibraltar - TKO (511 Mt) Highland Valley - TCK (329 Mt) Developing Mine Average PEERS Mt. Mi
Slide 13: On the Path to Development
& western COPPER AND GOLD ON THE PATH TO DEVELOPMENT
Slide 14: Building a Better Project
BUILDING A BETTER PROJECT CLEAR HISTORY OF DERISKING PROJECT AND ADDING VALUE • 2013 – Issued Feasibility Study • 2014 – Entered YESAB EA process • 2016 – Elevated to YESAB Panel • 2017 – Government Announces Road Funding • 2018 – Completed Tailings Options Study (BATT) • 2019 – Infill drilling comp
Slide 15: Standard Processing Circuit (Permitting Case)
STANDARD PROCESSING CIRCUIT (Permitting Case)* MILLING • Throughput: average LOM 124,000 tonnes per day • Grinding Circuit: 40 ft SAG Mill (29 MW) + 2 x 28 ft Ball Mills (22 MW each) • Medium – soft ore: BWi – 14.1 kWh/t, 200 µm primary grind FLOTATION • Conventional copper/moly circuit • Recoveries
Slide 16: Casino Infrastructure
CASINO INFRASTRUCTURE POWER* • Power to be supplied by 3 gas turbine driven generators for a combined installed capacity of > 200 MW. • LNG trucked from Ft. Nelson • MOU signed with Ferus Natural Gas Fuels Inc. (Ferus) to supply the fuel at Ft. Nelson • Ferus currently supplying Whitehorse power pla
Slide 17: Casino Access Road Funding Secured
CASINO ACCESS ROAD FUNDING SECURED $130 million funding committed from Governments for the Casino Access Road Initial portion of road through EA process – expect construction this year Agreement with FN’s on key aspects of remaining road reached. Canadian Prime Minister Justin Trudeau and Yuko
Slide 18: An Emerging Mining District
western COPPER AND GOLD AN EMERGING MINING DISTRICT
Slide 19: Yukon – A Storied and Modern Record of Mining
YUKON – A STORIED AND MODERN RECORD OF MINING TIER 1 JURISDICTION Mining territory in Canada STRONG GOVERNMENT SUPPORT Funding for marketing and infrastructure STRAIGHTFORWARD PERMITTING Single assessment agency Several initiatives underway to streamline processes ACTIVE MINING DISTRICT 3
Slide 20: ESG Commitment
ESG COMMITMENT SOCIAL ENVIRONMENTAL GOVERNANCE Committed to health and safety Committed to exceeding best Committed to high ethical and committed to the protection of practices in protecting the standards and building long term cultural values environment value Ongoing Engagement with Local Acce
Slide 21: Key Asset in an Emerging New Gold District
KEY ASSET IN AN EMERGING NEW GOLD DISTRICT Major gold miners in area – Newmont, Agnico-Eagle, Kinross, and others ~ 30 million ounces of gold in district* Significant exploration upside WHITE GOLD Government commitment to fund access to area 2 Projects in permitting Community and First N
Slide 22: Exploration
western COPPER AND GOLD » EXPLORATION
Slide 23: 2020 Drill Campaign Highlights
2020 DRILL CAMPAIGN HIGHLIGHTS Northern Porphyry Casino 0.38% CuEq over West 253.30 m @ 7.30 m 0.30% CuEq over 87.00 m @ 97.06 m Gold Zone 0.76 g/t Au over 175.49 m @ 3.25 m 0.44 g/t Au over 162.30 m @ 7.40 m Notes: See “Notes” in Appendix. Drill results taken from press release dated February 2, 20
Slide 24: Additional Exploration Targets
ADDITIONAL EXPLORATION TARGETS Newmont Coffee Project Note: See notes in appendix TSX : WRN I NYSE AMERICAN : WRN Developing Canada’s Premier Copper-Gold Mine 24
Slide 25: Deeper Porphyry Targets
DEEPER PORPHYRY TARGETS Current deposit outline • Additional geophysical targets identified at depth Chargeability @ 67 ms MT @ 66 mS Source: Witherly, Ken, “New Riches from Old Data; a Re-evaluation of Legacy Data from the Casino Deposit, Yukon, AME Roundup, January 25, 2018 TSX : WRN I NYSE AMERIC
Slide 26: Investment Highlights and Path Forward
INVESTMENT HIGHLIGHTS AND PATH FORWARD CASINO PROJECT ALREADY TICKS MANY OF THE BOXES: Significant copper and gold project Yukon – an emerging mining district Clear path to unlock value STEADY PROGRESS: 2018: Tailings alternatives study completed 2019: Infill drilling campaign completed
Slide 27: Analyst Coverage
ANALYST COVERAGE CORMARK SECURITIES ROTH CAPITAL PARTNERS H.C. WAINWRIGHT & CO. Stefan Ioannou Matthew Farwell, CFA Heiko F. Ihle, CFA Tel: (416) 943-4222 Tel: (949) 720-7189 Tel: (212) 356 - 0510 TSX : WRN I NYSE AMERICAN : WRN Developing Canada’s Premier Copper-Gold Mine 27
Slide 28: Appendix
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Slide 29: Board of Directors
BOARD OF DIRECTORS Dale Corman, 40 years experience as a senior corporate officer of publicly listed companies. Extensive expertise in mineral exploration B.Sc, P.Eng. & development, financing, property evaluation and acquisition. Formerly Chairman & CEO of Western Silver Executive Chairman Corporat
Slide 30: The World Needs a Lot More Copper
THE WORLD NEEDS A LOT MORE COPPER COPPER FUNDAMENTALS • Key to global decarbonization (EVs, renewables) 5 million tonne deficit • Globally 20 Mt of copper needed for a 30% EV penetration, over 20 years equivalent to annual • Plus 5-7 Mt of copper needed for other applications, over 20 years producti
Slide 31: TSX/V Junior Controlled Copper Projects
TSX/V JUNIOR CONTROLLED COPPER PROJECTS UKMP Pebble CASINO Kutcho KSM Morisson Northisle Harper Creek Northmet King King Cascabel Tampakan Canariaco Norte Cotabambas Mina Justa Project Constellation Productora MANY OF THESE PROJECTS: • are too small to have an impact on copper supply • are not econo
Slide 32: Top 10 Largest TSX/V Junior Controlled Gold Projects
TOP 10 LARGEST TSX/V JUNIOR CONTROLLED GOLD PROJECTS Pebble CASINO KSM Donlin Livengood Rosia Montana New Prosperity Metates Tampakan Freida River Los Helados MANY OF THESE PROJECTS: • are not economic at long term prices • are located in unfavorable jurisdictions Source: Public records • have envir
Slide 33: Tailings Options Study
TAILINGS OPTIONS STUDY Key permitting milestone achieved with the completion of Best Available Tailings Technology (BATT) Study. Importantly, First Nation, Territorial and Federal Governments were involved in the study examining every possible scenario for dealing with tailings and mine waste DESIGN
Slide 34: Excellent Concentrate Quality
EXCELLENT CONCENTRATE QUALITY COPPER CONCENTRATE MOLYBDENUM CONCENTRATE Element Avg Value Unit Element Avg Value Unit Copper 28 % Molybdenum 57.4 % Gold 25 g/t Copper 0.39 % Silver 120 g/t Rhenium 133.5 g/t Iron 0.8 % Molybdenum 0.05 % Sulphur 37.9 % Iron 26 % Arsenic 1659 g/t Sulphur 36 % Antimony
Slide 35: Yukon Map
YUKON MAP TSX : WRN I NYSE AMERICAN : WRN
Slide 36: TSX : WRN I NYSE AMERICAN : WRN
The exploration activity data represented on this map were compiled by Mineral Resources Branch. Please contact minina@aov.yk.ca for further information. 7 yy ON pants
Slide 37: 2020 Resource
2020 RESOURCE Mill Resource ($5.70/t NSR cut-off) Tonnes Copper Gold Moly Silver CuEq Copper Gold Moly Silver Class M (%) (g/t) (%) (g/t) (%) (M lb) (M oz) (M lb) (M oz) Measured 145.3 0.31 0.40 0.025 2.1 0.74 986 1.9 80.6 9.8 Indicated 2,028.0 0.14 0.17 0.016 1.4 0.33 6,448 10.9 731.0 90.4 M+I 2,17
Slide 38: 2020 Resource
2020 RESOURCE Heap Leach Resource ($5.46/t NSR cut-off) Tonnes Copper Gold Silver AuEq Copper Gold Silver Class M (%) (g/t) (g/t) (g/t) (M lb) (M oz) (M oz) Measured 37.2 0.05 0.45 2.8 0.48 39.3 0.5 3.3 Indicated 180.2 0.03 0.21 1.7 0.23 127.2 1.2 10.0 M+I 217.4 0.03 0.25 1.9 0.27 166.5 1.8 13.3 Inf
Slide 39: Notes
NOTES “2020 Resource”: • Technical report entitled “Casino Project,Form 43-101F1 Technical Report Mineral Resource Statement, Yukon, Canada" dated July 3, 2020, a copy of which is available on the Company's website at www.westerncopperandgold.com. • Prepared by Daniel Roth, P.E., P. Eng., Mike Heste
Slide 40: www.westerncopperandgold.com
WWW.WESTERNCOPPERANDGOLD.COM INFO@WESTERNCOPPERANDGOLD.COM 604 684 9497
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