Western Copper and Gold holds significant gold, copper and molybdenum resources and reserves in its Casino Project located in the Yukon Territory, Canada. Casino contains 8.4 million ounces of gold, 4.4 billion pounds of copper, 494 million pounds of molybdenum and 61 million ounces of silver in proven & probable reserves.

1. CASINO TRANSFORMING
World Class Deposit In The Yukon RESOURCES INTO MINES
JANUARY 2012 JANUARY 2012
Project Overview
The Casino project is located 380 km northwest of Whitehorse,
Yukon, 560 km from Skagway, Alaska - a year-round port, and
within Selkirk First Nation Traditional Territory. Based on an
updated pre-feasibility study completed in April 2011, the deposit
will be developed as an open pit mine and a mill processing
120,000 tpd and producing an average of 435,000 ounces
of gold, 234 million pounds of copper, 13 million pounds of
molybdenum and 1.6 million ounces of silver per year over the
first four years of production.
The pre-feasibility study recommends development of the
Casino deposit as a conventional, electrified truck-shovel open
pit mine. The initial development will focus on the deposit’s
oxide cap as a heap leach operation to recover gold and silver in Company Overview
doré form. The main sulphide deposit will be processed using a
conventional concentrator to produce copper-gold and Western Copper and Gold Corporation is an
molybdenum concentrates. Additionally, a pyrite rich stream from Casino camp
exploration and development company with large
the concentrator will be leached in a CIL circuit for recovery of
gold and silver. gold, copper and molybdenum resources and
Y1 to Y4 LOM CASINO
Gold-silver doré and copper-gold and molybdenum concentrates reserves in its billion-tonne Casino deposit.
will be produced, and the concentrates will be transported to the Gold Production (k oz/y) 435 262
Casino is located 380 km northwest of
port of Haines or Skagway, Alaska for shipping to smelters. Copper Production (M lb/y) 234 157
Whitehorse, Yukon. The Western Copper
Higher ore grades and greater concentrate production during
the initial 4 years of operation provide an accelerated cash flow
Molybdenum Production (M lb/y) 13 12
CA N A D A and Gold team is currently advancing Casino
during this period resulting in a timely payback of 3.3 years at Silver Production (k oz/y) 1,560 1,370 towards full feasibility as well as exploring
long term prices.
Strip Ratio 0.51 0.72 financing options.
Development History % of Revenue - Copper 46% 45% WORLD CLASS DEPOSIT
Casino Project History
The Casino deposit was discovered in 1969. Between 1992 and % of Revenue - Gold 39% 35%
1995 Pacific Sentinel Gold Corp. performed a major drilling In May 2006, Glamis Gold Ltd. purchased Western Silver
% of Revenue - Moly 13% 8% GOLD COPPER MOLY SILVER Corporation primarily for the Peñasquito asset and spun off
program and completed a scoping study. After obtaining the
property, Western Copper reworked the project significantly and Reserves 8.4 M oz 4.4 B lb 494 M lb 61 M oz Western Copper Corporation as a separate company. Western
% of Revenue - Silver 2% 2%
issued an initial pre-feasibility study in August 2008. Copper Corporation started trading on May 15, 2006 on the
M+I* 0.5 M oz 0.3 B lb 65 M lb 4 M oz
NSR ($/t ore milled) 26.84 19.33 Toronto Stock Exchange (WRN). On November 30, 2006
Between 2008 and 2010, 26,000 m of additional drilling was Inferred 9.0 M oz 5.4 B lb 723 M lb 76 M oz Western Copper acquired Lumina Resources Corporation adding
carried out at Casino cumulating in a new resource released in Average Mill Grade CuEQ (%) 0.71% 0.50% Casino, as well as two other properties to its portfolio.
* Exclusive of Reserves
November 2010. This new resource expanded the near surface
Mill Operating Costs (C$/t) 9.70 In October 2011, Western Copper and Gold was formed when
supergene mineralization by 90% and added an additional 7.4
million ounces of gold, 4.4 billion lbs of copper and 615 million lbs Based on Feasibility Study - April 2011
Western Copper spun out all assets except Casino, and renamed
of moly to the resource at the inferred level. PROVEN MANAGEMENT the company to emphasize the significant gold resource.
The new resource was incorporated into an updated pre-feasiblity 9 Experienced management and developers
study released in April 2011. This study indicates that the 9 Peñasquito: developed & sold to Glamis Gold for
economic returns from the project justify further development
C$1.6 B while management was with Western Silver
of the Casino project - development of a full feasibility study and
securing the required permits and licenses for operation.
Management
Dale Corman, B.Sc., P.Eng. Chairman & CEO Cameron Brown, P.Eng. VP Engineering
2050 - 1111 West Georgia Street Contact: Julie Kim Pelly Paul West-Sells, Ph.D. President & COO Jack McClintlock, MBA, P.Eng. Consulting Geologist
Vancouver, British Columbia Mgr, Corporate Communications & Investor Relations
Julien François, C.A. VP Finance & CFO
Canada, V6E 4M3 info@westerncopperandgold.com
www.westerncopperandgold.com
CAUTIONARY NOTES: Statements contained herein that are not historical fact are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act
Toll Free: 1 888 966 9995
of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. For US Investors: SEC
Phone: 604 684 9497
TSX: WRN / NYSE Amex: WRN
guidelines strictly prohibit U.S. registered companies from including certain terms, such as “measured”, “indicated”, “inferred”, and “resources”, in their filings with the SEC. U.S.
investors are urged to consider closely the disclosure in the Company’s Form 20-F. Email: info@westerncopperandgold.com

2. TRANSFORMING CASINO
RESOURCES INTO MINES World Class Deposit In The Yukon
JANUARY 2012 JANUARY 2012
Cash Position Economics
As of Sept 30, 2011
Spot Prices Long Term
Cash on hand C$ 12.3 M Dec 2011 Prices
Mine Capital (C$ M) 1,760.00
Debt 0
*Proforma Sept 30, 2011 figures taking into consideration October Power Plant (C$ M) 260.00
2011 spin-out of Copper North and NorthIsle
Road, Port, Etc. (C$ M) 120.00
Share Structure (as of January 16, 2011) Total Capex 2,130.00
Share Price $1.76 Copper (US$ /lb) 3.43 2.50
Casino Deposit
Gold 1,645 1,100
Market Cap ~$164 M
Molybdenum (US$ /lb) 13.70 14.00
Common Shares 93,002,503 CONTINUING TO DE-RISK PROJECT
Silver (US$ /oz) 30.30 17.00
9 Assembled team 2006 Foreign Exchange (US$:C$) 1.00 0.90
Options 4,313,667 9 Developed initial pre-feasibility study 2008
Pre-Tax NPV @ 5% (C$ M) 4,670 2,570
Warrants 6,847,750 9 Initiated permit application 2009
9 Completed 26,000 metres additional drilling 2010 Pre-Tax NPV @ 8% (C$ M) 3,100 1,570
Fully Diluted Shares 104,163,920
9 Issued significantly expanded resource 2010 Pre-Tax IRR (100% equity) (%) 28.9 19.6
9 Released updated pre-feasibility study 2011 After-Tax NPV @ 5% (C$ M) 3,175 1,700
Reserves & Resources 9 Refined power supply solution 2011
After-Tax NPV @ 8% (C$ M) 2,044 963
Grade Contained Metal
After-Tax IRR (100% equity) (%) 24.0 16.2
Property Tonnes Copper Gold Moly Silver Cu Eq 1 Copper Gold Moly Silver - Complete feasibility study 2012
M % g/t % g/t % B lb M oz M lb M oz - Submit environmental assessment 2012 Cash Flow (Y1-Y4) (C$ M/y) 744 567
Casino (Mill) 976 0.20 0.24 0.02 1.73 0.50 4.4 7.5 494 54.3 - Receive initial permits 2015 Cash Flow (LOM) (C$ M/y) 361 250
Reserves
Casino (Heap) 82 0.04 0.37 - 2.55 - 0.1 1.0 - 6.7 - Initiate construction 2015 Payback (y) 2.3 3.3
Total Proven + Probable Reserve 4.7 8.6 494 62.6
- Production: Gold heap leach 2017
- Production: Milling operation 2019 Operating Cost ($/t) 9.70
M+I
Casino (Mill + Heap) 1,141 0.19 0.24 0.022 1.77 0.48 4.8 8.9 559 64.9
Resources Based on Feasibility Study - May 2007
Total Measured + Indicated Resources 2 6.5 11.4 559 67.0
Inferred Snapshot
Casino 1,714 0.14 0.16 0.02 1.37 0.37 5.4 9.0 723 75.7
Resources
Ownership 100% Employees 608 (peak production), 1,600 (peak construction)
Total Inferred Resource 8.8 9.7 723 85.8
Deposit Type Porphyry 380 km (240 mi) northwest of Whitehorse, Yukon
(1)
Cu Eq Metal prices: US$2.00/lb copper, US$875/oz gold, US$11.25/lb molybdenum, US$11.25/oz silver (2)
Inclusive of reserves Location 560 km (350 mi) from year-round port at Skagway,
See notes below Process Conventional flotation mill + gold heap leach
Alaska
Mine Type Open pit
Permitting Preparation / Exploration / Pre-feasibility
Notes Mine Life
Status
23 years update / Planning towards full Feasibility
Property Estimate Technical Report Qualified Person Copper Cut-off
Based on Pre-Feasibility Study - April 2011
Casino Reserve April 2011 M. Hester, FAusIMM -
0.25% Cu Eq (Cu Eq Metal Prices: US$2.00/lb copper, US$875/
Casino Resource - 0.25% CuEq Cut-Off
Casino Resource December 2010 Gary H. Giroux, P.Eng
oz gold, US$11.25/lb molybdenum, US$11.25/oz silver) Reserve Grade Contained Metal
Class Tonnes Copper Gold Moly Silver Cu Eq Copper Gold Moly Silver
M % % % g/t % B lb M oz M oz k oz
Board of Directors M+I 1,057 0.20 0.23 0.022 1.71 0.49 4.7 7.8 513 58.1
Supergene/
Hypogene Inferred 1,696 0.14 0.16 0.019 1.37 0.37 5.2 8.7 711 74.7
Dale Corman, B.Sc., P.Eng. Chairman Ian Watson Director
M+I 84 0.04 0.40 0.020 2.57 0.44 0.1 1.1 37 6.9
Robert Byford, B.A., CA Director David Williams, LL.B., MBA Director Leached Cap
Inferred 17 0.01 0.31 0.008 1.93 0.27 0.0 0.2 3 1.1
Robert Gayton, B.Comm., Ph.D., FCA Director Klaus Zeitler, Ph.D. Director
Technical Report: December 2010 | Qualified Person: Gary H. Giroux, P.Eng | Cu Eq Metal Prices: US$2.00/lb copper, US$875.00/oz gold, US$11.25/lb molybdenum,
US$11.25/oz silver
Western Copper and Gold Corporation Western Copper and Gold Corporation