Western Copper and Gold Corp T.WRN

RE:News, 25M PP !

[Marine2]

Why another $25m at this time ? 

Any thoughts ?

SHORT FORM BASE SHELF PROSPECTUS

WESTERN COPPER AND GOLD CORPORATION C$25,000,000

COMMON SHARES WARRANTS SUBSCRIPTION RECEIPTS UNITS

November 18, 2022

This short form base shelf prospectus (this “Prospectus”) relates to the offering for sale from time to time (each, an “Offering”), during the 25-month period that this Prospectus, including any amendments hereto, remains effective, of the securities of Western Copper and Gold Corporation (“Western” or the “Company”) listed above (the “Securities”) in one or more series or issuances, with a total offering price of such Securities, in the aggregate, of up to C$25,000,000 (or the equivalent thereof in other currencies). The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the sale and set forth in an accompanying prospectus supplement (a “Prospectus Supplement”). This Prospectus may qualify an “at-the- market” distribution as defined in National Instrument 44-102 – Shelf Distributions (“NI 44-102”) of the Canadian Securities Administrators.