$WRN

Western Copper & Gold Corp

CIK:0001364125|SEC Filings

CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS - CAD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Statement
Depreciation	$ 97,561	$ 157,059
Filing and regulatory fees	320,211	346,346
Office and administration	837,280	647,490
Professional fees	681,191	883,212
Share-based payments	2,274,984	2,453,140
Shareholder communication and travel	717,129	731,939
Wages and benefits	2,542,418	4,423,604
CORPORATE EXPENSES	7,470,774	9,642,790
Foreign exchange loss	1,354	3,868
Interest income	(1,968,352)	(2,676,508)
Gain on marketable securities	(2,384,014)	(48,320)
LOSS AND COMPREHENSIVE LOSS	$ 3,119,762	$ 6,921,830
Basic loss per share	$ 0.02	$ 0.04
Diluted loss per share	$ 0.02	$ 0.04
Weighted average number of common shares outstanding	200,690,696	187,910,004

CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)	Dec. 31, 2025	Dec. 31, 2024
OPERATING ACTIVITIES
Loss and comprehensive loss	$ (3,119,762)	$ (6,921,830)
ITEMS NOT AFFECTING CASH
Depreciation	97,561	157,659
Finance costs	13,806	8,298
Gain on marketable securities	(2,384,014)	(48,320)
Share-based payments	2,274,984	2,453,140
ITEMS NOT AFFECTING CASH	(3,117,425)	(4,351,053)
Change in non-cash working capital items	(172,702)	(378,305)
Settlement of deferred share units	(77,348)	0
OPERATING ACTIVITIES	(3,367,475)	(4,729,358)
FINANCING ACTIVITIES
Financings	0	54,282,153
Share issuance costs	0	(3,273,803)
Exercise of stock options	2,675,036	3,465,000
Exercise of warrants	1,275,000	0
Lease payments	(109,696)	(188,174)
FINANCING ACTIVITIES	3,840,340	54,285,176
INVESTING ACTIVITIES
Redemption (purchase) of short-term investments	24,687,878	(47,500,000)
Exploration and evaluation asset expenditures	(20,506,602)	(13,824,762)
Proceeds from sale of marketable securities	3,453,554	0
Purchase of property, plant and equipment	(50,075)	0
INVESTING ACTIVITIES	7,584,755	(61,324,762)
CHANGE IN CASH AND CASH EQUIVALENTS	8,057,620	(11,768,944)
Cash and cash equivalents - Beginning	14,202,317	25,971,261
CASH AND CASH EQUIVALENTS - ENDING	$ 22,259,937	$ 14,202,317

CONSOLIDATED BALANCE SHEETS - CAD ($)	Dec. 31, 2025	Dec. 31, 2024
ASSETS
Cash and cash equivalents	$ 22,259,937	$ 14,202,317
Short-term investments	28,273,349	53,770,674
Marketable securities	9,660	1,079,200
Other assets	772,186	954,853
CURRENT ASSETS	51,315,132	70,007,044
Property, plant and equipment	46,291	37,868
Right-of-use assets	236,112	57,654
Exploration and evaluation asset	144,292,235	122,690,820
ASSETS	195,889,770	192,793,386
LIABILITIES
Accounts payable and accrued liabilities	2,434,598	3,122,495
Current portion of lease obligation	172,110	33,408
CURRENT LIABILITIES	2,606,708	3,155,903
Lease obligations	64,875	27,231
LIABILITIES	2,671,583	3,183,134
SHAREHOLDERS' EQUITY
Share capital	279,558,766	272,544,984
Contributed surplus	38,630,750	38,916,835
Deficit	(124,971,329)	(121,851,567)
SHAREHOLDERS' EQUITY	193,218,187	189,610,252
LIABILITIES AND SHAREHOLDERS' EQUITY	$ 195,889,770	$ 192,793,386