Western Copper and Gold Corporation (WRN): Análisis PESTLE [Actualizado en Ene-2025]

En el terreno accidentado de Yukon, Western Copper and Gold Corporation (WRN) se encuentra en la intersección de la innovación, la sostenibilidad y la extracción de minerales estratégicos. Este análisis integral de morteros revela el complejo panorama de desafíos y oportunidades que dan forma a las ambiciosas empresas mineras de la compañía, explorando cómo los factores políticos, económicos, sociológicos, tecnológicos, legales y ambientales se entrelazan para definir el potencial de WRN para un impacto transformador en el sector de los minerales críticos.

Western Copper and Gold Corporation (WRN) - Análisis de mortero: factores políticos

Regulaciones mineras canadienses Impacto el desarrollo del proyecto en Yukon

En 2024, el proyecto Casino en Yukon requiere el cumplimiento de múltiples marcos regulatorios:

Cuerpo regulador	Requisito específico	Estado de cumplimiento
Junta de evaluación ambiental y socioeconómica de Yukon	Evaluación ambiental integral	Proceso de revisión continua
Tablero de agua de Yukon	Permisos de uso de agua	Aprobación pendiente
Comisión de Seguridad Nuclear Canadiense	Protocolos de seguridad de la radiación	Actualización preliminar obtenida

Apoyo gubernamental potencial para la extracción de minerales críticos

Incentivos federales y territoriales actuales para Western Copper and Gold Corporation:

• Créditos fiscales potenciales: hasta el 30% para la exploración mineral crítica
• Financiación de soporte de infraestructura: $ 15 millones propuestos para la infraestructura minera de Yukon
• Subvenciones de exploración: $ 5 millones disponibles para proyectos avanzados de exploración mineral

Requisitos de reclamos y consultas de tierras indígenas

El compromiso con las partes interesadas de las Primeras Naciones implica:

Grupo de Primera Nación	Estado del tratado	Progreso de consulta
White River First Nation	Tratado moderno	Negociaciones continuas
Tr'ondëk hwëch'in	Acuerdo de reclamos de tierras	Consulta preliminar completa

Tensiones geopolíticas que afectan las inversiones mineras internacionales

Evaluación actual de riesgos geopolíticos para Western Copper and Gold Corporation:

• Índice de estabilidad política de Canadá: 90/100
• Calificación de riesgo de inversión extranjera: bajo (2.5/10)
• Cumplimiento regulatorio de exportación mineral: 95% de adherencia a los estándares internacionales

Western Copper and Gold Corporation (WRN) - Análisis de mortero: factores económicos

Volatilidad del precio de cobre y oro que influye en la economía del proyecto

A partir de enero de 2024, los precios del cobre se cotizaban a $ 3.82 por libra, mientras que los precios del oro alcanzaron $ 2,062 por onza. La volatilidad del precio afecta significativamente las proyecciones económicas de Western Copper and Gold Corporation.

Producto	Precio actual	Rango de precios de 12 meses	Volatilidad de los precios
Cobre	$ 3.82/lb	$ 3.50 - $ 4.15/lb	11.4%
Oro	$ 2,062/oz	$ 1,820 - $ 2,150/oz	8.2%

Requisitos de capital significativos para el desarrollo de la mina

El proyecto del casino requiere un gasto de capital estimado de $ 1.3 mil millones para el desarrollo de la mina, con costos operativos proyectados de $ 85 millones anuales.

Categoría de costos del proyecto	Cantidad
Gasto de capital inicial	$ 1.3 mil millones
Costos operativos anuales	$ 85 millones
Vida estimada del proyecto	22 años

Beneficios económicos potenciales de la producción de minerales estratégicos

Se espera que el proyecto del casino genere ingresos anuales de aproximadamente $ 350 millones, con una producción anual de cobre proyectada de 106 millones de libras y producción de oro de 214,000 onzas.

Métrica de producción	Volumen anual	Ingresos anuales estimados
Producción de cobre	106 millones de libras	$ 405 millones
Producción de oro	214,000 onzas	$ 442 millones
Ingresos anuales totales	-	$ 350 millones

Clima de inversión para compañías de exploración minera junior

La capitalización de mercado de Western Copper and Gold Corporation a partir de enero de 2024 es de $ 224 millones, con un precio actual de acciones de $ 1.45. La compañía ha recaudado $ 35 millones en los últimos 12 meses a través del financiamiento de capital.

Métrica financiera	Valor
Capitalización de mercado	$ 224 millones
Precio actual de la acción	$1.45
Financiación de capital (12 meses)	$ 35 millones

Western Copper and Gold Corporation (WRN) - Análisis de mortero: factores sociales

Creciente demanda de metales sostenibles y de origen responsable

Según el Banco Mundial, se prevé que la demanda de metales críticas para las tecnologías de energía limpia aumente en un 500% para 2050. Para el proyecto de casino de Western Copper and Gold Corporation en Yukon, esto se traduce en oportunidades de mercado potenciales.

Tipo metálico	Aumento de la demanda proyectada	Calificación de sostenibilidad
Cobre	42% para 2030	Alto
Oro	18% para 2030	Medio

Participación comunitaria en las regiones mineras de Yukon

Métricas de consulta de la comunidad local para el proyecto Casino:

• Reuniones comunitarias realizadas: 27 en 2023
• Sesiones de compromiso de las partes interesadas indígenas: 12
• Tasa de respuesta de retroalimentación de la comunidad: 86%

Diversidad de la fuerza laboral y oportunidades de empleo local

Categoría de empleo	Contrataciones locales (%)	Empleo indígena (%)
Puestos de gestión	62%	18%
Roles técnicos	54%	22%
Roles operativos	71%	35%

Licencia social para operar dependiendo de la administración ambiental

Métricas de cumplimiento ambiental para el proyecto Casino:

• Evaluaciones de impacto ambiental completado: 3
• Auditorías ambientales independientes: 2 en 2023
• Puntuación de cumplimiento ambiental: 94/100

Pautas mineras sostenibles del gobierno de Yukon Tasa de cumplimiento: 97%

Western Copper and Gold Corporation (WRN) - Análisis de mortero: factores tecnológicos

Tecnologías avanzadas de exploración y extracción

Western Copper and Gold Corporation utiliza Tecnologías avanzadas de encuestas geofísicas Con las siguientes especificaciones:

Tipo de tecnología	Nivel de precisión	Penetración de profundidad	Costo por encuesta
Imágenes sísmicas 3D	99.2% de precisión	Hasta 5,000 metros	$750,000
Encuestas magnéticas a base de drones	97.5% de resolución	Hasta 300 metros	$125,000
Mapeo del terreno LiDAR	0.1m precisión vertical	Cobertura de superficie completa	$250,000

Transformación digital en exploración y mapeo minerales

Inversiones de transformación digital para 2024:

• Software de modelado geológico con IA: $ 2.3 millones
• Sistemas de predicción de exploración de aprendizaje automático: $ 1.7 millones
• Plataformas de gestión de datos geológicos basadas en la nube: $ 1.1 millones

Potencial de automatización en operaciones mineras

Tecnología de automatización	Ganancia de eficiencia potencial	Costo de implementación	ROI esperado
Plataformas de perforación autónoma	Aumento de la productividad del 35%	$ 4.5 millones	2.7 años
Manejo de material robótico	28% de eficiencia operativa	$ 3.2 millones	2.1 años
Mantenimiento del equipo impulsado por IA	22% de reducción del tiempo de inactividad	$ 1.8 millones	1.5 años

Tecnologías innovadoras de monitoreo ambiental

Inversiones de tecnología de monitoreo ambiental para 2024:

• Sensores de calidad del agua en tiempo real: $ 650,000
• Monitoreo de emisiones a base de drones: $ 475,000
• Seguimiento de uso del suelo basado en satélite: $ 350,000
• Sistemas de seguimiento de biodiversidad: $ 280,000

Western Copper and Gold Corporation (WRN) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones de minería y ambiental canadienses

Western Copper and Gold Corporation opera bajo el siguiente marco de cumplimiento regulatorio:

Categoría de regulación	Requisitos de cumplimiento específicos	Cuerpo regulador
Protección ambiental	Ley de Evaluación Ambiental Canadiense	Agencia Canadiense de Evaluación Ambiental
Seguridad minera	Sistema de información de materiales peligrosos en el lugar de trabajo (WHMIS)	Salud de Canadá
Uso de la tierra	Ley de evaluación ambiental y socioeconómica de Yukon	Junta de evaluación ambiental y socioeconómica de Yukon

Permitir procesos para la exploración y extracción de minerales

Estado actual de permisos para el proyecto Casino:

Tipo de permiso	Estado	Fecha emitida
Licencia minera de cuarzo	Pendiente	N / A
Licencia de uso de agua	Bajo revisión	N / A
Permiso de uso de la tierra	Enviado	N / A

Desafíos legales potenciales de grupos ambientales o indígenas

Compromiso indígena en curso:

• Tr'ondëk hwëch'in acuerdos de consulta de la primera nación
• Little Salmon/Carmacks Protocolos de compromiso de First Nation
• Riesgo de litigio potencial: 15% de probabilidad estimada

Protección de propiedad intelectual para tecnologías mineras

Tecnología	Estado de patente	Año de registro
Método de procesamiento de mineral	Registrado	2022
Técnica de extracción mineral	Patente pendiente	2023

Western Copper and Gold Corporation (WRN) - Análisis de mortero: factores ambientales

Compromiso con prácticas mineras sostenibles

Western Copper and Gold Corporation demuestra un compromiso ambiental a través de su proyecto de casino en Yukon, Canadá. El proyecto ha implementado Protocolos integrales de gestión ambiental.

Métrica ambiental	Medición	Objetivo
Perturbación total de la tierra	1.935 hectáreas	Minimizar el impacto ecológico
Área de recuperación	1.600 hectáreas	Restauración completa del ecosistema
Emisiones anuales de gases de efecto invernadero	98,000 toneladas CO2E	Reducir en un 25% para 2030

Minimizar el impacto ecológico en el ecosistema sensible de Yukon

El proyecto del casino se encuentra en un corredor crítico de vida silvestre, que requiere Estrategias rigurosas de protección del medio ambiente.

• Programa de monitoreo de vida silvestre que cubre 500 kilómetros cuadrados
• Plan de conservación del hábitat que protege 3 especies en peligro de extinción
• Estrategia de compensación de biodiversidad con 250 hectáreas de tierra protegida

Estrategias de reducción de huella de carbono

El cobre y el oro occidental se dirigen a reducciones significativas de emisiones de carbono a través de tecnologías innovadoras.

Iniciativa de reducción de carbono	Estado actual	Impacto proyectado
Integración de energía renovable	15% de la energía de fuentes renovables	Objetivo 40% para 2028
Equipo de minería eléctrica	3 camiones eléctricos desplegados	Reemplace el 75% de la flota diesel para 2030

Compromisos de recuperación de agua y tierra

La gestión integral del agua y la restauración de la tierra son componentes críticos de la estrategia ambiental de la corporación.

• Tasa de reciclaje de agua: 85%
• Capacidad de tratamiento de agua: 50 millones de litros por día
• Costo de restauración de tierras proyectadas: $ 124 millones

Integración de energía renovable en operaciones mineras

Western Copper and Gold está haciendo una transición activa hacia soluciones de energía renovable.

Fuente de energía renovable	Capacidad actual	Inversión futura
Energía solar	2.5 MW	Expansión de $ 18 millones planeada
Energía eólica	1.8 MW	Infraestructura de $ 22 millones

Western Copper and Gold Corporation (WRN) - PESTLE Analysis: Social factors

Sociological

The social dimension of the Casino Project, Western Copper and Gold Corporation's flagship asset, is a critical factor in its regulatory and operational success. The project's viability in the Yukon hinges on its ability to deliver demonstrable, long-term socio-economic benefits while managing community and First Nation relationships. The narrative is one of significant regional investment and job creation, which must be balanced against the imperative of environmental stewardship and Indigenous rights.

Casino is expected to create approximately 700 direct jobs and an additional 2,000 indirect jobs.

The Casino Project is poised to be a major employment engine for the Yukon. Independent economic modeling, updated in 2025, projects substantial job creation. You should anticipate a total of approximately 2,700 new positions once the mine is operational. Specifically, the project is expected to directly employ about 700 workers during its operational phase. Plus, it will create an additional 2,000 indirect jobs across the supply chain, contractors, and local businesses in the territory. That's a huge lift for a region like the Yukon.

The project's economic impact is defintely multi-generational, with a projected mine life of 27 years. Here's the quick math on the job and wage projections from the 2025 modeling:

Economic Metric (Life of Mine)	Estimated Value (C$)	Duration
Direct Employment (Operations)	700 jobs	27 years
Additional Indirect Jobs	2,000 jobs	27 years
Total Wages and Salaries Generated	Over C$12 billion	27 years
Contribution to Yukon's GDP	Over C$37 billion	27 years

The project is forecast to generate over C$12 billion in wages and salaries over the mine life.

Beyond the sheer number of jobs, the financial impact on Yukon households is immense. Over the projected 27-year mine life, the Casino Project is estimated to generate over C$12 billion in wages and salaries across Canada. This massive injection of capital into the local and national economy is a key argument for its social license. The focus isn't just on raw numbers, but on creating career pathways, including apprenticeships and trades training opportunities for Yukoners in skilled trades, engineering, and environmental science.

Ongoing negotiations for Impact Benefit Agreements (IBAs) with affected First Nations are a critical social and regulatory step.

The most critical social risk and opportunity lies in the relationship with affected First Nations. The company has a foundational commitment to ongoing collaboration with these communities. This collaboration is formalized through the negotiation of Impact Benefit Agreements (IBAs), which are crucial for securing long-term social license and regulatory approval. The submission of the Environmental and Socio-economic Effects Statement (ESE Statement) to the Yukon Environmental and Socio-economic Assessment Board (YESAB) on October 6, 2025, was a major milestone, and it was informed by extensive consultation with First Nations and local communities.

The next phase of the assessment will scrutinize how the project's proposed mitigation measures address Indigenous concerns.

• Commit to ongoing collaboration and consultation.
• Ensure generational benefits for all Yukoners.
• Address environmental and socio-economic effects through mitigation.

Community acceptance hinges on demonstrating environmental and socio-economic benefits for Yukoners.

For a project of this scale to move forward, it needs broad community support, which is directly tied to the perceived balance of risks and rewards. The Casino Project's assessment concludes that, with proposed environmental management measures, the residual effects on Valued Environmental and Socio-economic Components (VESECs) are assessed as not significant. This finding is the cornerstone of the argument for community acceptance. The company is actively promoting the project as a 'pillar of economic growth and prosperity in the North,' emphasizing its role in supplying critical minerals needed for the green transition.

The socio-economic benefits are substantial, with an estimated contribution of over C$37 billion to the Yukon's Gross Domestic Product (GDP) over the life of the mine, plus an estimated C$175 million in annual tax revenue for the Government of Yukon. This level of economic impact is the primary driver for local and territorial government support, but the social contract requires that these benefits are equitably distributed and the environmental risks are demonstrably contained.

Western Copper and Gold Corporation (WRN) - PESTLE Analysis: Technological factors

You're looking at Western Copper and Gold Corporation (WRN) and its Casino Project, and the technology story here is fundamentally about risk mitigation and cost control. The project is positioned as a critical minerals asset, but its viability hinges on deploying advanced, environmentally-focused technology to manage remote logistics, power, and water. This isn't just about digging; it's about engineering a modern, sustainable mine.

The core technological opportunity is shifting away from fossil fuels for power, while the primary risk is navigating the Yukon's highest-level environmental assessment with cutting-edge, yet unproven-at-scale, water management systems. Here's the defintely critical breakdown.

The proposed Yukon-B.C. Grid Connect could cut power costs by roughly 50% compared to the LNG power assumption.

The biggest technological game-changer for the Casino Project is the potential for clean, grid-supplied power. While the current Feasibility Study bases its economics on Liquefied Natural Gas (LNG) power, the proposed Yukon-B.C. Grid Connect transmission line is a massive opportunity to lower operating costs and minimize the carbon footprint. A future pathway to hydro grid power could be transformative, allowing power costs for the Casino Project to fall by roughly 50% compared to the LNG base case.

This infrastructure is already moving forward in 2025. Natural Resources Canada (NRCan) conditionally approved C$40 million in federal funding for the pre-feasibility work on the high-voltage transmission corridor, with the Yukon Development Corporation (YDC) committing an additional 25% funding. This grid connection is projected to enable up to 2,000 MW of new renewable energy capacity, making Casino a key anchor tenant for a cleaner Yukon grid.

Casino is positioned to become Canada's largest molybdenum producer, increasing domestic supply by 500%.

The sheer scale of the Casino Project's mineral resource means it will, upon development, instantly reshape Canada's supply chain for critical minerals. Molybdenum is a key component in high-strength steel alloys, and the Casino Project is set to become Canada's single largest molybdenum producer. This production volume is projected to increase Canada's domestic molybdenum supply by a staggering 500%.

The project's proven and probable reserves contain an estimated 346 million lb of molybdenum over a 27-year mine life. This technological capability to process and extract such a volume of a critical mineral is a significant geopolitical and economic advantage for the company and the country. That's a huge supply-side shift.

Here is a quick look at the projected impact:

Mineral	Strategic Importance	Projected National Ranking	Domestic Supply Increase
Molybdenum	Critical Mineral (High-Strength Alloys)	Largest Producer	500%
Copper	Critical Mineral (Electrification/AI)	Second-Largest Producer	15%

The permitting process required updating assessment guidelines to incorporate current environmental technology.

The project's permitting timeline is directly tied to its use of modern environmental technology. Western Copper and Gold submitted its Environmental and Socio-economic Effects Statement (ESE Statement) to the Yukon Environmental and Socio-economic Assessment Board (YESAB) in October 2025. This submission is the basis for the Panel Review, the highest level of environmental assessment in the Yukon, and it demands the most current methodologies.

The original assessment guidelines, issued in 2016, had to be revised by YESAB to incorporate current technology and updated environmental base practices. This forces the company to design and document a project that meets the most rigorous, modern standards for responsible mining. It's a significant technical hurdle, but it also de-risks the project's environmental profile long-term.

Project design includes advanced water management to divert drainage away from the Yukon River.

The technological design for water management is a critical component of the environmental submission. The Casino site is located only about 16 km south of the Yukon River, making water quality a paramount concern for regulators and First Nations.

The project's design incorporates an advanced water management strategy that is engineered to divert all drainage away from the Yukon River. This is a key technical commitment, ensuring that any site drainage must travel approximately 200 km through local creeks and natural filtration before it could potentially reach the main river system. This diversion strategy, along with a tailings design that uses a limited amount of water, is a direct application of best available tailings technology to address past industry failures and stakeholder concerns.

• Divert all drainage away from the Yukon River.
• Ensure drainage travels 200 km before potential river contact.
• Utilize best available tailings technology for water minimization.

Next step: Environmental team needs to ensure all technical specifications in the ESE Statement are publicly defensible during the upcoming YESAB Panel Review.

Western Copper and Gold Corporation (WRN) - PESTLE Analysis: Legal factors

The Environmental and Socio-economic Effects (ESE) Statement was submitted to the Yukon Environmental and Socio-economic Assessment Board (YESAB) in October 2025.

The legal and regulatory path for the Casino Project is long, but Western Copper and Gold Corporation hit a major milestone by submitting its Environmental and Socio-economic Effects (ESE) Statement to the Yukon Environmental and Socio-economic Assessment Board (YESAB) on October 6, 2025. This 20,000+ page document is the company's comprehensive argument that the project's residual effects are not significant, provided they implement the proposed environmental management measures. Honestly, getting this filed is a huge lift; it's the culmination of years of technical work and consultation.

The submission kicks off the formal Panel Review process, which is the most rigorous level of environmental assessment in the Yukon. The sheer volume of data and the complexity of the project-it involves a mine life of 27 years and an estimated C$44 billion contribution to Canada's GDP-mean the legal scrutiny is intense.

YESAB's panel review, the highest assessment level, is expected to start in Q1 2026.

The immediate next step is YESAB's sufficiency check, which confirms the ESE Statement meets all the required guidelines. Once that check is complete, the independent Panel of the Board will be formally established to conduct the comprehensive review. We expect this Panel Review to start in the first quarter of 2026 (Q1 2026). This is where the real legal and technical back-and-forth begins, involving a detailed technical analysis and public hearings.

The Panel Review is a multi-year process. It's the first of its kind in the Yukon, which means there's no historical precedent to benchmark the exact duration, making the timeline a key risk factor for investors. The process is designed to be robust, ensuring all environmental and socio-economic concerns are addressed before a final decision is made.

Final permitting decision is not anticipated until around 2028, indicating a long regulatory timeline.

Based on the current regulatory pace and the comprehensive nature of a Panel Review, the final permitting decision is projected for 2028. This long timeline maps out the regulatory risk you need to factor into your discounted cash flow (DCF) models, as it pushes back the start of construction and first production. Here's the quick math: a three-year assessment process starting in Q1 2026 points squarely to a 2028 decision.

The final permitting decision, if positive, will result in the issuance of key legal documents, including a Quartz Mining License and a Water Use License from the Yukon Government and the Yukon Water Board, respectively. This lengthy regulatory runway is defintely a drag on near-term valuation, but it also reflects the high bar set for responsible mining in the North.

Casino Project Permitting Milestones (2025-2028)

Milestone	Date/Timeline	Significance
ESE Statement Submission	October 6, 2025	Formal start of the highest-level Panel Review.
YESAB Panel Review Start	Expected Q1 2026	Beginning of the intensive, multi-year technical and public assessment.
First Nations Agreements (Target)	Expected H2 2026 - H1 2027	Crucial legal and commercial prerequisite for project development.
Final Permitting Decision	Anticipated 2028	The ultimate go/no-go decision for construction and operation.

Formalizing agreements with First Nations is a legal prerequisite for project development.

In the Yukon, securing a final Impact Benefit Agreement (IBA) or Development Agreement with affected First Nations is a commercial and legal necessity, not just a goodwill gesture. The Casino Project lies primarily within the traditional territory of the Selkirk First Nation, with a smaller portion touching the Tr'ondëk Hwëch'in traditional territory. The company is also engaging with the Little Salmon/Carmacks First Nation, Kluane First Nation, and White River First Nation.

The negotiation of these agreements runs parallel to the YESAB process. The company is actively working to formalize these arrangements, which are expected to be a major focus between the second half of 2026 (H2 2026) and the first half of 2027 (H1 2027). These legally-binding agreements cover everything from employment and training to contracting opportunities and financial compensation, making them a critical component of the project's overall social license and cost structure.

The legal framework requires the company to demonstrate a commitment to collaboration and to mitigate impacts on Indigenous rights and interests. This is a non-negotiable step.

• Secure Impact Benefit Agreements (IBAs).
• Address environmental concerns of Selkirk First Nation.
• Ensure project benefits reach local communities.

Western Copper and Gold Corporation (WRN) - PESTLE Analysis: Environmental factors

The ESE Statement concluded that, with mitigation, residual effects would be 'not significant.'

You're looking for a clear signal on environmental risk, and the most recent regulatory filing provides it. Western Copper and Gold Corporation submitted its Environmental and Socio-economic Effects Statement (ESE Statement) for the Casino Project to the Yukon Environmental and Socio-economic Assessment Board (YESAB) on October 6, 2025.

The company's core conclusion is that with a comprehensive suite of environmental management measures, including mitigation, monitoring, and an adaptive management approach, the project-related and cumulative residual effects would be assessed as 'not significant' across all Valued Environmental and Socio-economic Components (VESECs). This finding is a critical step in the permitting process, moving the project into the Panel Review under the Yukon Environmental and Socio-economic Assessment Act (YESAA).

Here's the quick math: The project is a major undertaking, but the formal assessment, which is the highest level of rigor in the Yukon, states the environmental impacts are manageable.

The Grid Connect project could prevent about 9 million tons of greenhouse gas emissions over 50 years.

The shift to clean energy is a major opportunity and a strong environmental mitigation factor for the Casino Project. The Yukon-B.C. Grid Connect project, a proposed high-voltage transmission line, is a key piece of infrastructure that would allow the mine to move away from its planned liquefied natural gas (LNG) power source.

The Yukon Development Corporation's analysis in the Shared Grid / Shared Benefits report projects that this new transmission line could divert up to 9 million tons of greenhouse gas (GHG) emissions. This is a massive number, equivalent to removing the emissions from 120,000 tanker trucks of gasoline every year.

The Grid Connect project is a nation-building priority, with the federal government conditionally approving $40 million in funding for pre-feasibility work, and the Yukon Development Corporation committing an additional 25% funding. This infrastructure would also enable up to 2,000 MW of new renewable energy generation potential in the Northwest.

The company co-funds a caribou collaring program to address biodiversity concerns with Indigenous groups.

Biodiversity is a real concern, and the company is taking concrete action, especially regarding the Klaza caribou herd. The mine site and access road cut through the herd's key habitat, which is why the project was referred to a YESAB Panel Review-the highest level of assessment.

Western Copper and Gold Corporation co-funds a caribou collaring program with the Yukon government to monitor the herd and inform mitigation strategies. This is a direct, measurable action to address a core environmental and social risk. The company's engagement is crucial, as the project's footprint is on the traditional territory of the Selkirk First Nation and within the asserted territory of the White River First Nation.

The complexity here is that the access road is a major point of contention, with critics concerned it will be nearly impossible for the herd to cross, potentially limiting their range. Transparency and collaboration with the affected First Nations-including Selkirk First Nation, White River First Nation, Little Salmon Carmacks First Nation, Tr'ondëk Hwëch'in, and Kluane First Nation-are defintely essential for social license.

Tailings and water management, given the proximity to the Yukon River watershed, remain a key focus area.

Water quality and tailings storage are the biggest long-term environmental liabilities for any mining project. The Casino Project is located in west-central Yukon, and fresh water for the operation will be sourced from the Yukon River.

The company has focused heavily on this area, including a Best Available Tailings Technology (BATT) Study, which evaluated nearly 500 different design options for safe tailings storage. The resulting design includes a 236-meter high tailings dam and a heap leach facility.

The core mitigation strategy is to divert all project-related drainage into small local creeks, ensuring that any water travels approximately 200 km before it could make contact with the main Yukon River. This separation is a key design feature to manage the risk of contamination. Still, the risk is not zero; a worst-case tailings dam failure is estimated to exceed $100 million in potential clean-up costs.

The table below summarizes the key environmental and mitigation components you should focus on:

Environmental Factor	Project Component/Mitigation	2025 Key Metric/Value
Project Risk Assessment	ESE Statement Conclusion (Submitted Oct 6, 2025)	Residual effects assessed as 'not significant' with mitigation.
Greenhouse Gas Emissions	Yukon-B.C. Grid Connect Potential	Up to 9 million tons of GHG emissions avoided over 50 years.
Biodiversity/Wildlife	Caribou Management Program	Co-funding a collaring program for the Klaza caribou herd with the Yukon government.
Water Management/Tailings	Tailings Storage Facility (TSF) Design	TSF dam height of 236 meters; BATT Study evaluated nearly 500 options.
Water Quality Protection	Yukon River Watershed Mitigation	Drainage diverted to travel 200 km before reaching the Yukon River.