Click here to close now.

SYS-CON MEDIA Authors: Yeshim Deniz, Pat Romanski, Carmen Gonzalez, Liz McMillan, Roger Strukhoff

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."

CORPORATE UPDATE

ENGINEERING

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.

PERMITTING

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.

FIRST NATION RELATIONS

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.

FINANCIAL POSITION

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.

ABOUT WESTERN COPPER AND GOLD CORPORATION

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
Organizations today are confounded by an avalanche of data that needs to be processed and managed on a daily basis. Through relevant use cases and a thought-provoking dialogue on an organization’s ‘Data to Decisions’ journey, Andrew Clyne, Chief Data Officer at CenturyLink Cognilytics, will reveal in his session at Big Data Expo how your organization can monetize data as a strategic asset. State-of-the-art Big Data and Advanced Analytics capabilities provided as a managed service can enable da...
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immed...
We are all here because we are sold on the transformative promise of The Cloud. But what good is all of this ephemeral, on-demand infrastructure if your usage doesn't actually improve the agility and speed of your business? How must Operations adapt in order to avoid stifling your Cloud initiative? In his session at DevOps Summit, Damon Edwards, co-founder and managing partner of the DTO Solutions, will highlight the successful organizational, process, and tooling patterns of high-performing c...
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
There is no question that the cloud is where businesses want to host data. Until recently hypervisor virtualization was the most widely used method in cloud computing. Recently virtual containers have been gaining in popularity, and for good reason. In the debate between virtual machines and containers, the latter have been seen as the new kid on the block – and like other emerging technology have had some initial shortcomings. However, the container space has evolved drastically since coming on...
With worldwide spending on cloud services and infrastructure growing by 23% in 2015 to $118B, it is clear that cloud services are here to stay. Yet, the rate of cloud adoption varies by companies and markets around the world. With thousands of outages and hijacks across the Internet every day, one reason for hesitation is the faith in quality Internet performance. In his session at 16th Cloud Expo, Michael Kane, Senior Manager at Dyn, will explore how Internet performance affects your end-user...
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud en...
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between confe...
Data-intensive companies that strive to gain insights from data using Big Data analytics tools can gain tremendous competitive advantage by deploying data-centric storage. Organizations generate large volumes of data, the vast majority of which is unstructured. As the volume and velocity of this unstructured data increases, the costs, risks and usability challenges associated with managing the unstructured data (regardless of file type, size or device) increases simultaneously, including end-to-...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
SYS-CON Media named Andi Mann editor of DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Andi Mann, Vice President, Strategic Solutions, at CA Technologies, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, communicator, and thought lea...
Announced separately, New Relic is joining the Cloud Foundry Foundation to continue the support of customers and partners investing in this leading PaaS. As a member, New Relic is contributing the New Relic tile, service broker and build pack with the goal of easing the development of applications on Cloud Foundry and enabling the success of these applications without dedicated monitoring infrastructure. Supporting Quotes "The proliferation of microservices and new technologies like Docker ha...
Even though it’s now Microservices Journal, long-time fans of SOA World Magazine can take comfort in the fact that the URL – soa.sys-con.com – remains unchanged. And that’s no mistake, as microservices are really nothing more than a new and improved take on the Service-Oriented Architecture (SOA) best practices we struggled to hammer out over the last decade. Skeptics, however, might say that this change is nothing more than an exercise in buzzword-hopping. SOA is passé, and now that people are ...
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. Acco...
Gartner predicts that the bulk of new IT spending by 2016 will be for cloud platforms and applications and that nearly half of large enterprises will have cloud deployments by the end of 2017. The benefits of the cloud may be clear for applications that can tolerate brief periods of downtime, but for critical applications like SQL Server, Oracle and SAP, companies need a strategy for HA and DR protection. While traditional SAN-based clusters are not possible in these environments, SANless cluste...