Western Copper Comments on Carmacks Water License Appeal Ruling
Feb 25, 2011Download this Press Release (0.00) Print this page
VANCOUVER, B.C. — Western Copper Corporation (“Western Copper” or the “Company”) (TSX:WRN; NYSE Amex:WRN) received notification of the Yukon Supreme Court’s ruling regarding the Company’s appeal of the Yukon Water Board’s decision not to grant the Carmacks Copper Project a Water Use License on February 24, 2011. Western Copper had appealed the Yukon Water Board’s decision in order to clarify the rules it would have to follow for re-application of a Water Use License.
The ruling does not require the Yukon Water Board to accept the findings of the Yukon Environmental and Socio-economic Assessment Board (YESAB) which concluded that the project can be built and operated without significant environmental effect. However, the Court decision does provide clarification of the environmental and regulatory process in Yukon. Western Copper will consider the decision and engage in discussions with regulators prior to resubmitting its Water Use License application.
“This decision affirms significant areas of overlap in the Yukon regulatory system. We’ll review our options and move forward appropriately. Carmacks only represents a small portion of Western Copper’s assets,” said Dale Corman, Chairman and Chief Executive Officer.
ABOUT WESTERN COPPER CORPORATION
Western Copper is a Vancouver-based exploration and development company with properties containing significant copper, gold and molybdenum resources and reserves. The Company has 100% ownership of four Canadian properties. The two most advanced projects are the Casino Project and the Carmacks Copper Project, both located in the Yukon Territory. The Casino Project is one of the world’s largest open-pittable gold, copper, silver and molybdenum deposits. For more information, visit http://www.westerncoppercorp.com
On behalf of the board,
F. Dale Corman
Chairman & CEO
Western Copper Corporation
For more information, please contact:
President & COO, Corporate Development
Manager, Investor Relations & Corporate Communications
Call: 1.888.966.9995 or 604.684.9497
This press release includes certain “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Western Copper Corp. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.