Western acquired the Casino Project in 2006 and the Casino Project is the Companys
material property for the purposes of NI 43-101. The Casino Project is primarily a copper and gold project located in the Whitehouse Mining District in west central Yukon, in the northwest trending Dawson
Range mountains, 300 km northwest of the territorial capital of Whitehorse. The Casino Project is located on Crown land administered by the Yukon government and within the Selkirk First Nation traditional territory. The total area covered by the
Casino Quartz Claims is 14,527 ha and the total area covered by Casino Placer Leases is 481.42 ha. All claims comprising the Casino Project are subject to a 2.75% net smelter returns royalty on the future sale of any metals and minerals derived
therein. On December 19, 2019, the Company announced assay results from its 2019 exploration program on the Casino Project, which program consisted of a total of 13,590 m of diamond drilling in 69 completed holes.
More details regarding the Casino Project and the results of the Companys feasibility study are detailed in the independent technical
report dated January 25, 2013, prepared Conrad E. Huss, P.E., Thomas L. Drielick, P.E., Jeff Austin, P. Eng., Gary Giroux, P. Eng., Scott Casselman, P. Geo. Graham Greenaway, P. Eng., Michael G. Hester, FAus IMM, and Jesse Duke, P. Geo.; each
of whom is a qualified person pursuant to NI 43-101, entitled Casino Project, Form 43-101F1 Technical Report Feasibility Study, Yukon, Canada Revision
1 (the 2013 Feasibility Study) was filed and is available on SEDAR under the Companys profile at www.sedar.com.
The Company also holds the Canadian Creek property, comprised of 311 mineral claims lying directly adjacent to the Casino Project (the
Canadian Creek Property) in the Yukon. The Company acquired the Canadian Creek Property on August 28, 2019 as there is a likelihood that the Casino deposit will extend into the Canadian Creek Property.
The documents incorporated by reference herein, including the Annual Information Form, contain further details regarding the business of
Western. See Documents Incorporated by Reference.
Recent Developments
Subsequent to the filing of the Annual Information Form on March 19, 2020, the Company completed the following:
Election of Michael Vitton as a Director
On April 27, 2020, the Company announced that Michael Vitton, who was at the time a strategic investor of the Company, agreed to stand for
election as director at the Companys annual general meeting of shareholders (the AGM). The AGM was held on June 10, 2020 and Mr. Vitton was appointed as director to the board.
May 2020 Financing
On June 1, 2020,
the Company announced the completion of the May 2020 Financing, pursuant to which the Company issued an aggregate of 4,000,000 FT Shares at a price of $1.12 per FT Share for aggregate gross proceeds of $4,480,000, as described in the June 2,
2020 Material Change Report (see Documents Incorporated by Reference).
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