Western Copper and Gold Corporation (WRN): Análise de Pestle [Jan-2025 Atualizada]

No terreno acidentado de Yukon, a Western Copper e Gold Corporation (WRN) fica na interseção de inovação, sustentabilidade e extração mineral estratégica. Essa análise abrangente de pestles revela o complexo cenário de desafios e oportunidades que moldam os ambiciosos empreendimentos de mineração da empresa, explorando como os fatores políticos, econômicos, sociológicos, tecnológicos, legais e ambientais se entrelaçam para definir o potencial do WRN para impacto transformador no setor de minerais críticos.

Western Copper and Gold Corporation (WRN) - Análise de pilão: fatores políticos

Os regulamentos de mineração canadenses afetam o desenvolvimento do projeto em Yukon

Em 2024, o projeto de cassino em Yukon requer conformidade com várias estruturas regulatórias:

Órgão regulatório	Requisito específico	Status de conformidade
Conselho de Avaliação Ambiental e Socioeconômico de Yukon	Avaliação ambiental abrangente	Processo de revisão em andamento
Placa de água Yukon	Permissões de uso da água	Aprovação pendente
Comissão Canadense de Segurança Nuclear	Protocolos de segurança de radiação	Apuração preliminar obtida

Potencial apoio governamental para extração mineral crítica

Incentivos federais e territoriais atuais para a Western Copper e Gold Corporation:

• Créditos tributários potenciais: até 30% para exploração mineral crítica
• Financiamento de suporte à infraestrutura: US $ 15 milhões propostos para a infraestrutura de mineração de Yukon
• Subsídios de exploração: US $ 5 milhões disponíveis para projetos avançados de exploração mineral

Reivindicações de terras indígenas e requisitos de consulta

O envolvimento com as partes interessadas das Primeiras Nações envolve:

Grupo da Primeira Nação	Status do tratado	Progresso da consulta
Primeira nação do rio branco	Tratado moderno	Negociações em andamento
Tr'ondëk hwëch'in	Contrato de reivindicações de terra	Consulta preliminar concluída

Tensões geopolíticas que afetam os investimentos internacionais de mineração

Avaliação de risco geopolítico atual para Western Copper e Gold Corporation:

• Índice de Estabilidade Política do Canadá: 90/100
• Classificação de risco de investimento estrangeiro: baixo (2,5/10)
• Conformidade regulatória de exportação mineral: 95% de adesão aos padrões internacionais

Western Copper and Gold Corporation (WRN) - Análise de pilão: Fatores econômicos

Volatilidade do preço de cobre e ouro influenciando a economia do projeto

Em janeiro de 2024, os preços do cobre estavam sendo negociados a US $ 3,82 por libra, enquanto os preços do ouro atingiram US $ 2.062 por onça. A volatilidade dos preços afeta significativamente as projeções econômicas da Western Copper e Gold Corporation.

Mercadoria	Preço atual	Faixa de preço de 12 meses	Volatilidade dos preços
Cobre	US $ 3,82/lb.	$ 3,50 - $ 4,15/lb.	11.4%
Ouro	US $ 2.062/oz	$ 1.820 - US $ 2.150/oz	8.2%

Requisitos de capital significativos para o desenvolvimento de minas

O projeto do cassino exige uma despesa estimada de capital de US $ 1,3 bilhão para o desenvolvimento de minas, com custos operacionais projetados de US $ 85 milhões anualmente.

Categoria de custo do projeto	Quantia
Gasto de capital inicial	US $ 1,3 bilhão
Custos operacionais anuais	US $ 85 milhões
Vida estimada do projeto	22 anos

Potenciais benefícios econômicos da produção mineral estratégica

O projeto do cassino deverá gerar receita anual de aproximadamente US $ 350 milhões, com a produção anual de cobre projetada de 106 milhões de libras e produção de ouro de 214.000 onças.

Métrica de produção	Volume anual	Receita anual estimada
Produção de cobre	106 milhões de libras	US $ 405 milhões
Produção de ouro	214.000 onças	US $ 442 milhões
Receita anual total	-	US $ 350 milhões

Clima de investimento para empresas de exploração de mineração júnior

A capitalização de mercado da Western Copper e Gold Corporation em janeiro de 2024 é de US $ 224 milhões, com um preço atual de US $ 1,45. A empresa levantou US $ 35 milhões nos últimos 12 meses por meio de financiamento de ações.

Métrica financeira	Valor
Capitalização de mercado	US $ 224 milhões
Preço atual das ações	$1.45
Financiamento de ações (12 meses)	US $ 35 milhões

Western Copper and Gold Corporation (WRN) - Análise de pilão: Fatores sociais

Crescente demanda por metais sustentáveis ​​e de origem com responsabilidade

De acordo com o Banco Mundial, a demanda por metais críticos para as tecnologias de energia limpa deve aumentar em 500% até 2050. Para o projeto de cassino de cobre e ouro da Western em Yukon, isso se traduz em possíveis oportunidades de mercado.

Tipo de metal	Aumento da demanda projetada	Classificação de sustentabilidade
Cobre	42% até 2030	Alto
Ouro	18% até 2030	Médio

Engajamento da comunidade em regiões de mineração de Yukon

Métricas de consulta da comunidade local para o projeto do cassino:

• Reuniões da comunidade realizadas: 27 em 2023
• Sessões de engajamento das partes interessadas indígenas: 12
• Taxa de resposta de feedback da comunidade: 86%

Diversidade da força de trabalho e oportunidades locais de emprego

Categoria de emprego	Contratações locais (%)	Emprego indígena (%)
Posições de gerenciamento	62%	18%
Papéis técnicos	54%	22%
Funções operacionais	71%	35%

Licença social para operar dependente da mordomia ambiental

Métricas de conformidade ambiental para projeto de cassino:

• Avaliações de impacto ambiental concluídas: 3
• Auditorias ambientais independentes: 2 em 2023
• Pontuação de conformidade ambiental: 94/100

Diretrizes de mineração sustentáveis ​​do governo de Yukon Taxa de conformidade: 97%

Western Copper and Gold Corporation (WRN) - Análise de pilão: Fatores tecnológicos

Tecnologias avançadas de exploração e extração

Western Copper e Gold Corporation utiliza Tecnologias avançadas de pesquisa geofísica Com as seguintes especificações:

Tipo de tecnologia	Nível de precisão	Penetração de profundidade	Custo por pesquisa
Imagem sísmica 3D	99,2% de precisão	Até 5.000 metros	$750,000
Pesquisas magnéticas baseadas em drones	97,5% de resolução	Até 300 metros	$125,000
Mapeamento do terreno do LIDAR	Precisão vertical de 0,1 m	Cobertura completa da superfície	$250,000

Transformação digital na exploração e mapeamento mineral

Investimentos de transformação digital para 2024:

• Software de modelagem geológica movida a IA: US $ 2,3 milhões
• Sistemas de previsão de exploração de aprendizado de máquina: US $ 1,7 milhão
• Plataformas de gerenciamento de dados geológicos baseados em nuvem: US $ 1,1 milhão

Potencial de automação em operações de mineração

Tecnologia de automação	Ganho de eficiência potencial	Custo de implementação	ROI esperado
Platas de perfuração autônomas	35% da produtividade aumenta	US $ 4,5 milhões	2,7 anos
Manuseio de material robótico	28% de eficiência operacional	US $ 3,2 milhões	2,1 anos
Manutenção de equipamentos acionados por IA	22% de redução de tempo de inatividade	US $ 1,8 milhão	1,5 anos

Tecnologias inovadoras de monitoramento ambiental

Investimentos de Tecnologia de Monitoramento Ambiental para 2024:

• Sensores de qualidade da água em tempo real: US $ 650.000
• Monitoramento de emissões baseadas em drones: US $ 475.000
• Rastreamento de uso da terra baseado em satélite: US $ 350.000
• Sistemas de rastreamento de biodiversidade: US $ 280.000

Western Copper and Gold Corporation (WRN) - Análise de Pestle: Fatores Legais

Conformidade com os regulamentos canadenses de mineração e ambiental

A Western Copper and Gold Corporation opera sob a seguinte estrutura de conformidade regulatória:

Categoria de regulamentação	Requisitos específicos de conformidade	Órgão regulatório
Proteção Ambiental	Lei de Avaliação Ambiental Canadense	Agência de Avaliação Ambiental Canadense
Segurança de mineração	Sistema de Informação de Materiais Perigosos do Local de Trabalho (WHMIS)	Health Canada
Uso da terra	Lei de Avaliação Ambiental e Socioeconômica de Yukon	Conselho de Avaliação Ambiental e Socioeconômico de Yukon

Processos de permissão para exploração e extração minerais

Status de permissão atual para o projeto do cassino:

Tipo de permissão	Status	Data emitida
Licença de mineração de quartzo	Pendente	N / D
Licença de uso da água	Em revisão	N / D
Licença de uso da terra	Enviado	N / D

Desafios legais potenciais de grupos ambientais ou indígenas

Engajamento indígena em andamento:

• Tr'ondëk Hwëch'in First Nation Consulta Acordes
• Little Salmon/Carmacks First Nation Engagement Protocols
• Risco potencial de litígio: 15% de probabilidade estimada

Proteção de propriedade intelectual para tecnologias de mineração

Tecnologia	Status de patente	Ano de inscrição
Método de processamento de minério	Registrado	2022
Técnica de extração mineral	Patente pendente	2023

Western Copper and Gold Corporation (WRN) - Análise de Pestle: Fatores Ambientais

Compromisso com práticas de mineração sustentáveis

A Western Copper e o Gold Corporation demonstram comprometimento ambiental por meio de seu projeto de cassino em Yukon, Canadá. O projeto implementou Protocolos abrangentes de gestão ambiental.

Métrica ambiental	Medição	Alvo
Perturbação total da terra	1.935 hectares	Minimizar o impacto ecológico
Área de recuperação	1.600 hectares	Restauração completa do ecossistema
Emissões anuais de gases de efeito estufa	98.000 toneladas CO2E	Reduza em 25% até 2030

Minimizar o impacto ecológico no ecossistema sensível Yukon

O projeto do cassino está localizado em um corredor crítico da vida selvagem, exigindo Estratégias rigorosas de proteção ambiental.

• Programa de monitoramento da vida selvagem, cobrindo 500 quilômetros quadrados
• Plano de Conservação de Habitat Protegendo 3 Espécies Ameaçadas
• Estratégia de compensação de biodiversidade com 250 hectares de terra protegida

Estratégias de redução de pegada de carbono

O cobre ocidental e o ouro alvoam reduções significativas de emissão de carbono por meio de tecnologias inovadoras.

Iniciativa de Redução de Carbono	Status atual	Impacto projetado
Integração de energia renovável	15% do poder de fontes renováveis	Target 40% até 2028
Equipamento de mineração elétrica	3 caminhões elétricos implantados	Substitua a frota diesel de 75% até 2030

Compromissos de recuperação de água e terra

O gerenciamento abrangente da água e a restauração da terra são componentes críticos da estratégia ambiental da corporação.

• Taxa de reciclagem de água: 85%
• Capacidade de tratamento de água: 50 milhões de litros por dia
• Custo projetado de restauração da terra: US $ 124 milhões

Integração de energia renovável em operações de mineração

O cobre e o ouro ocidentais estão transitando ativamente para soluções de energia renovável.

Fonte de energia renovável	Capacidade atual	Investimento futuro
Energia solar	2,5 MW	Planejada a expansão de US $ 18 milhões
Energia eólica	1.8 MW	Infraestrutura de US $ 22 milhões

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.