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Actionable news in WRN: WESTERN COPPER AND GOLD CORPORATION,

Western Copper And Gold Corporation

The following excerpt is from the company's SEC filing.

(An exploration stage company)

Condensed Interim Consolidated Financial Statements

For the three and nine months ended September 30, 2015

(Expressed in Canadian dollars)

NOTICE TO READER:

These condensed interim consolidated financial statements have not been reviewed by the Company's external auditors. These statements have been prepared by and are the responsibility of the Companys management. This notice is being provided in accordance with National Instrument 51-102 - Continuous Disclosure Obligations.

Western Copper and Gold Corporation

Condensed Inter im Consolidated Financial Statements

(Unaudited prepared by management)

CONSOLIDATED BALANCE SHEETS

ASSETS

Cash and cash equivalents

2,012,985

7,471,834

Short-term investments

9,545,888

9,101,553

Other assets

289,792

377,999

CURRENT ASSETS

11,848,665

16,951,386

Exploration and evaluation assets

35,985,307

32,545,517

47,833,972

49,496,903

LIABILITIES

Accounts payable and accrued liabilities

936,128

1,237,771

SHAREHOLDERS EQUITY

Share capital

105,113,340

Contributed surplus

32,740,181

32,510,184

Deficit

(90,955,677

(89,364,392

46,897,844

48,259,132

LIABILITIES AND SHAREHOLDERS EQUITY

Commitments

Approved by the Board of Directors

Robert J. Gayton (signed)

Director

Klaus Zeitler (signed)

Director

The accompanying notes are an integral part of these financial statements

- 2 -

CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS

Three Months Ended

Nine Months Ended

September 30,

Filing and regulatory fees

12,859

3,114

177,414

151,510

Office and administration

58,058

84,214

178,332

194,775

Professional fees

22,628

32,009

214,320

115,940

Rent and utilities

55,608

166,823

166,911

Share-based payments

40,266

77,444

157,296

245,610

Shareholder communication and travel

101,442

81,983

367,623

375,995

Wages and benefits

258,854

172,373

759,704

638,018

CORPORATE EXPENSES

549,715

506,745

2,021,512

1,888,759

Foreign exchange loss (gain)

(34,930

(225,703

(296,328

(280,560

Interest income

(37,951

(61,405

(133,899

(177,876

LOSS AND COMPREHENSIVE LOSS

476,834

219,637

1,591,285

1,430,323

Basic and diluted loss per share

Weighted average number of common shares outstanding

94,194,936

94,147,641

93,932,053

- 3 -

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the nine months ended September 30,

Cash flows provided by (used in)

OPERATING ACTIVITIES

Loss and comprehensive loss

(1,591,285

(1,430,323

ITEMS NOT AFFECTING CASH

Share-based payments

Change in non-cash working capital items

88,526

122,445

(1,345,463

(1,062,268

FINANCING ACTIVITIES

Exercise of stock options

264,349

INVESTING ACTIVITIES

Redemption (purchase) of short-term investments

(500,000

8,000,000

Mineral property expenditures

(3,613,386

(3,517,223

(4,113,386

4,482,777

CHANGE IN CASH AND CASH EQUIVALENTS

(5,458,849

3,684,858

Cash and cash equivalents Beginning

6,044,475

CASH AND CASH EQUIVALENTS - ENDING

9,729,333

- 4 -

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY

Number of

Shareholders

Shares

Capital

Surplus

Equity

DECEMBER 31, 2013

93,683,937

104,620,174

32,293,888

(87,452,418

49,461,644

477,666

Transfer of stock option value

200,470

(200,470

331,106

SEPTEMBER 30, 2014

94,161,603

105,084,993

32,424,524

(88,882,741

48,626,776

33,333

20,000

8,347

(8,347

94,007

(481,651

DECEMBER 31, 2014

229,997

SEPTEMBER 30, 2015

- 5 -

Notes to the Condensed Interim Consolidated Financial Statements

Three and nine months ended September 30, 2015 (unaudited prepared by management)

NATURE OF OPERATIONS

Western Copper and Gold Corporation (Western or the Company) is an exploration stage company that is directly engaged in exploration and development of the Casino mineral property located in Yukon, Canada (the Casino Project).

The Company is incorporated in British Columbia, Canada. Its head office is located at 1800 - 570 Granville Street, Vancouver, British Columbia.

The nature of the Companys operations requires significant expenditures for the acquisition, exploration, and development of...


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