Western Copper and Gold Secures $6M Investment from Rio Tinto and Updates Investor Rights Agreement

VANCOUVER, BC, Nov. 28, 2023 - Western Copper and Gold Corporation (hereafter referred to as 'Western' or the 'Company') WRN, is excited to announce a significant financial leap forward with a new $6 million investment. This influx of capital comes as the result of continued partnership with the major mining conglomerate, Rio Tinto Canada Inc. ('Rio Tinto') RIO, reflecting a growing collaboration between the two entities.

Investment Details and Future Prospects

The new investment from Rio Tinto marks a pivotal step in Western's journey to enhance its portfolio and intensify its resource extraction endeavors. With this funding, the Company can accelerate the development of its key projects, leveraging Rio Tinto's substantial industry experience and financial support. Both entities have entered into an amended and restated investor rights agreement, solidifying their mutual commitment towards Western's strategic advancement. This synergy is set to position Western favorably within the resource sector.

Strategic Implications for Western Copper and Gold

With Rio Tinto's strategic investment, Western reinforces its financial backbone, securing much-needed resources to fuel its progression. The capital injection promises to assist in several facets of operations, from streamlining the extraction process to expanding exploration activities. It ensures Western is well-equipped to confront challenges and seize opportunities ahead. Rio Tinto's involvement not only signifies a vote of confidence but also enhances Western's credibility in the market, potentially attracting additional investment and collaborations.

About Rio Tinto Group

Rio Tinto Group is a global authority in mining, committed to discovering, mining and processing the earth's mineral resources. Headquartered in London, UK, Rio Tinto's far-reaching expertise spans across numerous commodities, making it an invaluable ally to Western. Its stalwart presence in the industry and dedication to sustainable and innovative practices are assets that Western can lean on as it forges a path toward greater resource productivity and financial growth.

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