News Feed Item

Western Copper and Gold Selects M3 as EPCM Contractor and Provides Update on Casino

VANCOUVER, BC--(Marketwired - August 25, 2014) - Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE MKT: WRN) is pleased to announce that it has awarded the engineering, procurement and construction management ("EPCM") contract for the Casino Project ("Casino") to M3 Engineering & Technology Corporation of Tucson, Arizona ("M3").

M3 is very familiar with Casino, having worked on the project from an early stage preparing two pre-feasibility studies as well as the feasibility study issued in early 2013. M3 will work closely with Cameron Brown, Vice President - Engineering, who has 44 years of experience in operations, design and construction of mining projects including leading the design and construction management of the Los Pelambres Copper mine in Chile as Project Manager for Bechtel Mining.

"Choosing M3 was the logical choice based on our long successful history with them," said Dale Corman, Chairman and CEO of Western, "We have worked with M3 since Western Silver, our predecessor company, was developing the Peñasquito Project and are confident that the development of the Casino Project will meet with similar success."



Western was pleased to announce our Memorandum of Understanding with Siemens in May. The Company is now working closely with Siemens to define the major electrical equipment required for the power plant, mining and processing facilities.

The Company is working towards developing additional agreements with key major equipment suppliers for mining and milling equipment for the project.

Western is currently evaluating several potential suppliers of liquefied natural gas ("LNG") for the Casino Project. The Company was pleased to see that Yukon Energy Corporation has received the permits for the installation and operation of LNG storage and vaporization facilities to support the planned replacement of diesel fueled generators to LNG fuelled units in the Whitehorse power generation facility This action further demonstrates the increasing awareness and acceptance of LNG as an important energy contributor to the overall energy solution for the Yukon.


Western entered the permitting process by submitting a Project Proposal to the Yukon Environmental and Socio-Economic Assessment Board ("YESAB") in January of this year. On June 3, 2014 the assessment was put on hold as part of an agreement with Little Salmon Carmacks First Nation to engage in additional consultation. The assessment process will recommence on November 28, 2014.

During this period, the Company is also preparing responses to early comments received from participants in the YESAB review process. These will be submitted when the assessment recommences.


Western has now signed agreements with two Yukon First Nations. The Company announced an Agreement for Co-Operation in Project Assessment and Other Matters with the Selkirk First Nation on March 12, 2014 and a Settlement Agreement and Consultation Workplan with Little Salmon Carmacks First Nation on June 3, 2014. Western is working with these and other First Nations to ensure their views on to the project are received and considered during the YESAB review process. Western expects to develop additional agreements as the project advances.

Western brings to the attention of its shareholders the recent Supreme Court of Canada decision in the Tsilhqot'in case, issued in June of this year, addressing the issue of Aboriginal title claims in areas where no treaty or land claim has been agreed to and where a First Nation can prove exclusive occupation. The Casino Project is located in the Yukon where 11 of the 14 First Nations have reached Final Agreements with Government which are recognized as land claim agreements, resolving the question of Aboriginal title. The Casino Project is located in the traditional territories of the Selkirk First Nation, the Little Salmon/Carmacks First Nation, and the Tr'ondëk Hwëch'in First Nation. All of these First Nations have signed Final Agreements resolving land claims. Accordingly, it is our understanding that a claim such as that brought in the Tsilhqot'in case would not be applicable.


At June 30, 2014, Western had a positive working capital balance of $19.7 million, including cash, cash equivalents, and short-term investments of $20.3 million. These funds are expected to be sufficient for permitting and engineering activities over the next two years.


Western Copper and Gold Corporation is focused on advancing the Casino Project, one of the world's largest copper, gold, silver and molybdenum deposits, located in Yukon, Canada. For more information, visit www.westerncopperandgold.com.

On behalf of the board,

"Dale Corman"
F. Dale Corman
Chairman & CEO

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements generally express predictions, expectations, beliefs, plans, projections, or assumptions of future events or performance and do not constitute historical fact. Forward-looking statements tend to include words such as "may," "could," "expects," "plans," "estimates", "intends,""anticipates," "believes," "targets," "forecasts," "schedules," "goals," "budgets," or similar terminology. Forward-looking statements herein include, but are not limited to, statements with respect to M3 acting as EPCM contractor; potential agreements with key equipment suppliers including Siemens, LNG providers, and others; that responses to permitting questions received to date will be ready when the assessment recommences; estimated timeframes to obtain environmental approvals and permits; First Nations consultation requirements, including entering into additional agreements with First Nations; and effects of the Supreme Court of Canada decision clarifying the title rights of First Nations in Canada. Information concerning mineral reserves and mineral resources also may be deemed to be forward-looking statements in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined.

All forward-looking statements are based on Western's or its consultants' current beliefs as well as various assumptions made by and information currently available to them. These assumptions include, without limitation, the economic models for Casino; that engineering, procurement and construction timing and costs; the timing and obtaining of permitting and approvals; the geological, metallurgical, engineering, legal, financial, and economic advice that Western has received is reliable, and is based upon practices and methodologies which are consistent with industry standards; and the continued financing of Western's operations. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking statements are inherently subject to significant business, economic, and competitive uncertainties and contingencies and are subject to important risk factors and uncertainties, both known and unknown, that are beyond Western's ability to control or predict, including, but not limited to: the failure of either party to meet obligations under current and future agreements; that the assessment process does not proceed as anticipated; changes in law or legal interpretations relating to First Nations rights; and other risks that are set forth in Western's most recently filed Form 40-F with the U.S. Securities and Exchange Commission and its most recently filed Annual Information Form with the Canadian Securities Administrators as of the date of this news release. Actual results and future events could differ materially from those anticipated in forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Western expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The Open Connectivity Foundation (OCF), sponsor of the IoTivity open source project, and AllSeen Alliance, which provides the AllJoyn® open source IoT framework, today announced that the two organizations’ boards have approved a merger under the OCF name and bylaws. This merger will advance interoperability between connected devices from both groups, enabling the full operating potential of IoT and representing a significant step towards a connected ecosystem.
SYS-CON Events announced today that Interface Masters Technologies, a leader in Network Visibility and Uptime Solutions, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading vendor in the network monitoring and high speed networking markets. Based in the heart of Silicon Valley, Interface Masters' expertise lies in Gigabit, 10 Gigabit and 40 Gigabit Eth...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his session at @DevOpsSummit 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will show how customers are able to achieve a level of transparency that enables everyon...
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and microservices. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your conta...
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.