WESTERN COPPER AND GOLD’S CASINO PROJECT
TO HAVE
SIGNIFICANT IMPACT ON YUKON’S ECONOMY
VANCOUVER, B.C.
Western Copper and Gold Corporation (“Western” or the
“Company”) (TSX:WRN;
NYSE MKT:WRN) is pleased to announce
the results of an updated study on the potential economic
impact of
the Casino project on Yukon and Canada recently completed by MNP LLP (the
“Report”).
The report incorporates the results from
the Casino Feasibility Study dated January 25, 2013.
The report
highlights the impressive cumulative economic effect that developing
Casino will have on
Yukon and Canada during the project’s
construction and operation.
The Casino project is estimated to
contribute $9.7 billion to Canada’s Gross Domestic Product
(“GDP”), create 51,373 full-time equivalent
positions
(“FTE”), and generate $2.5 billion in wages and salaries.
Note
that the use of full-time
equivalent positions (“FTEs”) is
a method to account for partial employment or employment for different
durations and 1.0 FTE is equivalent to a full-time work for one year of
employment.
The Report estimates the GDP generated in Yukon by
the construction of Casino at $363 million, or
14% of Yukon’s
2011 GDP.
The construction phase is estimated to contribute $2.0 billion
to Canada’s
economy while generating 22,601 FTEs resulting in
$1.1 billion in wages and salaries across Canada.
During each
of its 22 years of operation, the Casino mine is expected to contribute
$274 million to
Yukon’s economy.
Operation of the mine is
estimated to contribute $350 million to Canada’s GDP
annually
while creating 1,308 FTEs and generating $61 million in wages and salaries
across Canada.
The Casino project is also expected to generate
$3.1 billion in taxes and royalties to various governments
during the
life of mine.
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