Western Copper and Gold Corporation (âWesternâ or the âCompanyâ) (TSX: WRN) (NYSE American: WRN) announces that Dale Corman, Founder of Western Copper and Gold and Executive Chairman of the Board of Directors of the Company, has informed the board that he will retire on June 30, 2021.
The Council appointed Ken williamson to act as Interim Chair, and the Board has begun the process of finding a permanent replacement for Mr. Corman. Mr. Williamson has been a director of Western since 2019. He has over 40 years of experience in natural resources and investment banking, where he focused on capital markets and mergers and acquisitions. Mr. Williamson is a member of the Professional Engineers of Ontario .
Francis Dale Corman , who grew up in the Niagara Peninsula of Ontario , obtained a bachelor’s degree in geology in 1961 from Rensselaer Polytechnic Institute in Troy, New York , and obtained the status of professional engineer in Ontario in 1972. Mr. Corman worked as a mining analyst and investment banker in the early 1960s, until 1968 when he joined the Harbinson Mining Group as a senior executive. Mr. Corman was involved in the discovery and development of Durham antimony mine in New Brunswick and the NBU copper-zinc deposit at Northwestern Ontario . In 1977, Mr. Corman moved to San Francisco where he participated in the exploration and development of the Roosevelt geothermal field in Southwestern Utah .
In 1995, Mr. Corman merged his exploration company with Western Copper Holdings, a subsidiary of Teck Corporation, of which he became president. In 1998, Western Copper Holdings and Teck discovered the San Nicholas massive sulphide deposit at Central mexico . In the early 2000s, Western Copper Holdings acquired all of Kennecott’s exploration properties in Mexico , including an early stage exploration project named PeÃ±asquito which quickly became the main focus of the company. In 2006, Western Copper Holdings (renamed Western Silver) was acquired by Glamis Gold for $ 1.3 billion and, later that year, Glamis Gold and Goldcorp (now Newmont Corporation) merged. PeÃ±asquito was put into production in 2010 and is today one of the flagship assets of Newmont Corporation. At the same time as the acquisition by Glamis Gold , Western Copper Corporation was established and renamed Western Copper and Gold Corporation in 2011. Today, Western owns the Casino project in the Yukon , which is one of the largest copper-gold deposits in the world and is expected to become from Canada first copper-gold mine. The Company recently announced that Rio Tinto Canada is a strategic investor.
In honor of Mr. Corman’s great contributions to mining over the past decades, the Board of Directors of the Company is pleased to announce that he will make a first $ 150,000 for an annual scholarship in the name of Mr. Corman to help students of the Yukon obtain degrees in engineering and science.
âOver the past 50 years, I have met and worked with a group of amazing people who have dedicated their lives to the mining industry,â said Mr. Corman. âThe decision to retire was not an easy one for me. I now look forward to a less stressful life on the sunny coast of British Columbia . I am extremely honored that the Board of Trustees has chosen to initially fund a scholarship on my behalf to assist students of the Yukon to acquire degrees in engineering and science. I hope that this fund will grow with the development of the Casino project and become a major contributor to the education of students in the Yukon . ”
ABOUT Western Copper and Gold Corporation
Western Copper and Gold Corporation is developing the Casino project, which should become from Canada first copper-gold mine in the Yukon Territory and one of the most economical copper and gold mining projects in the world. For more information, visit www.westerncopperandgold.com.
On behalf of the board,
Director and Interim President
Western Copper and Gold Corporation
Disclaimer regarding forward-looking statements and information
This press release contains certain forward-looking statements, including statements regarding the search for a permanent replacement for Mr. Corman, the initial contribution of $ 150,000 to the stock exchange which will be set up in the name of Mr. Corman and to the Casino project which should become from Canada first copper-gold mine. Statements that are not historical facts are “forward-looking statements” as that term is defined in United States Private Securities Litigation Reform Act of 1995 and âforward-looking informationâ as defined in National Instrument 51-102 (âNI 51-102â) of the Canadian Securities Administrators (collectively, âforward-looking statementsâ). Forward-looking statements are frequently, but not always, identified by words such as “plans”, “expects”, “anticipates”, “believes”, “intentions”, “estimates”, “” “ComP or statements that events, conditions or results âwillâ, âmayâ, âcouldâ or âshouldâ occur or be achieved. In making the forward-looking statements herein, the Company has applied certain material assumptions, including, but not limited to, the assumption that general business conditions will not change adversely.
Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from future results, performance or achievements expressed or implied by forward-looking statements due to various risks, uncertainties and other factors. These risks and other factors include, among others, risks associated with fluctuations in the prices of gold, copper and other commodities and exchange rates; uncertainties associated with raising sufficient funding in a timely manner and on acceptable terms; and other risks and uncertainties disclosed in Western’s Annual Information Form and Form 40-F, and other information published by Western and filed with applicable regulatory authorities.
Western’s forward-looking statements are based on the beliefs, expectations and opinions of management as of the date on which the statements are made, and Western does not assume and expressly disclaims any intention or obligation to update or revise the statements. forward-looking statements, whether as a result of new information, future events or otherwise, unless applicable securities laws otherwise require. For the reasons set out above, investors should not place undue reliance on forward-looking statements.
SOURCE Western Copper and Gold Corporation
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