Western Copper and Gold Corporation: Exhibit 99.1

Western Copper and Gold Corporation
Condensed Interim Consolidated Financial Statements
(unaudited)

(Expressed in Canadian dollars)


The accompanying notes are an integral part of these condensed interim consolidated financial statements	- 2 -

Western Copper and Gold Corporation
Condensed Interim Consolidated Financial Statements
(unaudited)

(Expressed in Canadian dollars)


The accompanying notes are an integral part of these condensed interim consolidated financial statements	- 3 -

Western Copper and Gold Corporation
Condensed Interim Consolidated Financial Statements
(unaudited)

(Expressed in Canadian dollars)


The accompanying notes are an integral part of these condensed interim consolidated financial statements	- 4 -

Western Copper and Gold Corporation
Condensed Interim Consolidated Financial Statements
(unaudited)

(Expressed in Canadian dollars)

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY


The accompanying notes are an integral part of these condensed interim consolidated financial statements	- 5 -

Western Copper and Gold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2026 and 2025
(Unaudited – Prepared by management)

(Expressed in Canadian dollars)

Western Copper and Gold Corporation (together with its subsidiaries, "Western" or the "Company") is directly engaged in exploration, permitting 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 907-1030 West Georgia Street, Vancouver, British Columbia.

While Western has been successful in raising sufficient capital to fund its operations, if the Company successfully progresses through permitting to the development and construction stage for the Casino Project, the Company will need to raise additional funds to complete the development and construction of the Casino Project. There can be no assurance that it will be able to raise such project financing in the future.

These condensed interim consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS Accounting Standards") as applicable to the preparation of interim financial statements under IAS 34, Interim Financial Reporting. The condensed interim consolidated financial statements should be read in conjunction with the Company's annual consolidated financial statements for the year ended December 31, 2025, which have been prepared in accordance with IFRS Accounting Standards.

These financial statements were approved for issue by the Company's board of directors on May 7, 2026.

Amendments to IFRS 9 and IFRS 7 - Amendments to the Classification and Measurement of Financial Instruments

Effective January 1, 2026, the Company adopted certain amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7). These amendments updated classification and measurement requirements in IFRS 9 Financial Instruments and related disclosure requirements in IFRS 7 Financial Instruments: Disclosures. The IASB clarified the recognition and derecognition date of certain financial assets and liabilities, and amended the requirements related to settling financial liabilities using an electronic payment system. It also clarified how to assess the contractual cash flow characteristics of financial assets in determining whether they meet the solely payments of principal and interest criterion, including financial assets that have environmental, social and corporate governance (ESG)-linked features and other similar contingent features. The IASB added disclosure requirements for financial instruments with contingent features that do not relate directly to basic lending risks and costs and amended disclosures relating to equity instruments designated at fair value through other comprehensive income.

Western Copper and Gold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2026 and 2025
(Unaudited – Prepared by management)

(Expressed in Canadian dollars)

The amendments are effective for periods beginning on or after January 1, 2026 and adoption of these amendments did not have a material effect on our condensed interim consolidated financial statements. For financial liabilities settled in cash using an electronic payment system, we applied the election to deem these financial liabilities to be discharged before the settlement date.

The amendments have been applied retrospectively with no restatement of comparative information, in accordance with transition requirements on initial application of IFRS 9.

In April 2024, the IASB issued IFRS 18, Presentation and Disclosure of Financial Statements (IFRS 18), which replaces IAS 1, Presentation of Financial Statements. IFRS 18 introduces a specified structure for the income statement by requiring income and expenses to be presented into the three defined categories of operating, investing and financing, and by specifying certain defined totals and subtotals. Where company-specific measures related to the income statement are provided, IFRS 18 requires companies to disclose explanations around these measures, which are referred to as management-defined performance measures. IFRS 18 also provides additional guidance on principles of aggregation and disaggregation which apply to the primary financial statements and the notes. IFRS 18 will not affect the recognition and measurement of items in the financial statements, nor will it affect which items are classified in other comprehensive income and how these items are classified. The standard is effective for reporting periods beginning on or after January 1, 2027, including for interim financial statements. Retrospective application is required, and early application is permitted. Management is currently assessing the effect of this new standard on our financial statements.

As of March 31, 2026, there are no other IFRS or IFRIC interpretations with future effective dates that are expected to have a material impact on the Company.

The preparation of financial statements in conformity with IFRS accounting standards requires management to exercise judgement in the process of applying its accounting policies and to make estimates that affect the reported amounts of assets and liabilities and disclosures of contingent assets and contingent liabilities at the date of the financial statements and the reported amounts of income and expenses during the period. Actual results could differ from those estimates. Differences may be material.

The Company is required to make significant judgements in assessing whether there are any indicators of impairment relating to its exploration and evaluation asset. If any such indicator exists, then an impairment test is performed by management. Indicators of impairment may include (i) the period for which the entity has the right to explore in the specific area has expired during the year or will expire; (ii) substantive expenditures on further exploration for the evaluation of mineral resources in the specific area is neither budgeted nor planned; (iii) sufficient data exists to support that extracting the resources will not be technically feasible or commercially viable; and (iv) development or sale of a specific area is unlikely to recover existing exploration and evaluation asset costs. If any of these indicators are present, management would need to assess whether the exploration and evaluation asset should be impaired. There are no indicators of impairment as of March 31, 2026.

Judgment is required in assessing whether a mineral property is in the exploration and evaluation phase and should be classified as an exploration and evaluation asset or if the exploration and evaluation phase has been completed and the mineral property should be reclassified as property and equipment. We determined that although a feasibility study for the Casino Project has been completed, the Company has not yet received the necessary licenses and permits required to consider the exploration and evaluation stage to have been completed.

Western Copper and Gold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2026 and 2025
(Unaudited – Prepared by management)

(Expressed in Canadian dollars)

As of	March 31, 2026	December 31, 2025
	$	$
Cash	31,909,294	8,297,526
Cash equivalents	4,135,024	13,962,411

TOTAL	36,044,318	22,259,937

Cash equivalents are comprised of cashable guaranteed investment certificates ("GICs") with a weighted average interest rate of 2.41% and term of 90 days (December 31, 2025 - 2.38% and term of 81 days).

As at March 31, 2026 the Company had $97,722,313 (December 31, 2025 - $27,812,122) invested in Canadian dollar denominated GICs plus total accrued interest of $589,017 (December 31, 2025 - $461,227). The GICs had a weighted average interest rate of 3.07% and term of 330 days (December 31, 2025 - 3.00% and term of 340 days). The GICs are issued by Schedule 1 chartered banks in Canada.

The Casino Property is subject to a 2.75% NSR on the claims comprising the Casino project in favour of Osisko Gold Royalties Ltd. ("Osisko Gold") pursuant to the Royalty Assignment and Assumption Agreement dated July 31, 2017 when 8248567 Canada Limited assigned to Osisko Gold all of its rights, title and interest in the 2.75% NSR.

Western Copper and Gold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2026 and 2025
(Unaudited – Prepared by management)

(Expressed in Canadian dollars)

		Total
		$
DECEMBER 31, 2024		122,690,820

Claims and maintenance		38,133
Engineering		918,454
Exploration and camp support		919,095
Permitting		17,247,920
Salary and wages		1,859,164
Share-based payments		618,649

DECEMBER 31, 2025		144,292,235

Engineering		334,919
Exploration and camp support		51,647
Permitting		1,916,576
Salary and wages		745,298
Share-based payments		152,932

March 31, 2026		147,493,607

The Company is authorized to issue an unlimited number of common shares without par value and an unlimited number of preferred shares without par value.

On February 26, 2026, the Company completed a bought deal public offering (the "Offering") of 22,169,125 common shares of the Company at a price of $4.15 per common share for gross proceeds of $92,001,869. In connection with the Offering, the Company paid the underwriters a cash commission of $4,587,830 and incurred other share issuance costs of $960,546.

The Company has three equity incentive plans consisting of a stock option plan (the "Option Plan"), a restricted share unit plan (the "RSU Plan") and a deferred share unit plan (the "DSU Plan") (collectively the "Equity Incentive Plans"). Pursuant to the Company's annual general meeting held on June 17, 2021, it was approved that the maximum aggregate number of common shares issuable under the Equity Incentive Plans cannot exceed 10% of number of common shares issued and outstanding.

Western Copper and Gold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2026 and 2025
(Unaudited – Prepared by management)

(Expressed in Canadian dollars)

Under the Option Plan, the exercise price of the stock options must be greater than, or equal to, the market value of the Company's common shares on the last trading day immediately preceding the date of grant. Stock options vest over a two-year period from the date of grant unless otherwise determined by the directors. The maximum stock option term is 10 years. At March 31, 2026, the Company could issue an additional 5,435,067 stock options under the terms of the stock option plan.

A summary of the Company's stock options outstanding and the changes for the periods then ended, is presented below:

	Number of stock options		Weighted average exercise price
			$
DECEMBER 31, 2024	8,707,334		1.75

Granted	481,225		1.61
Exercised	(1,768,333	)	1.67
Expired	(810,000	)	1.68
Forfeited	(25,262	)	1.61

DECEMBER 31, 2025	6,584,964		1.77

Granted	709,609		4.18
Exercised	(801,609	)	2.06
Forfeited	(19,037	)	4.18

MARCH 31, 2026	6,473,927		1.99

During the three months ended March 31, 2026, the Company recognized an expense in respect of stock options of $301,957 in the statement of loss and comprehensive loss (three months ended March 31, 2025 - $305,640). During the three months ended March 31, 2026, $42,118 was capitalized (three months ended March 31, 2025 - $36,233) to the exploration and evaluation asset in relation to stock options.

Stock options outstanding, by exercise price	Number of Stock options	Weighted average exercise price	Average remaining contractual life

		$	years
$1.11 - $1.41	1,000,000	1.35	2.9
$1.42 - $1.66	2,832,353	1.58	3.1
$1.67 - $2.10	764,002	2.05	1.7
$2.11 - $2.22	1,187,000	2.19	2.9
$2.23 - $4.18	690,572	4.18	4.8

MARCH 31, 2026	6,473,927	1.99	3.0

Western Copper and Gold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2026 and 2025
(Unaudited – Prepared by management)

(Expressed in Canadian dollars)

The average share price for options exercised during the three months ended March 31, 2026, was $2.06 (three months ended March 31, 2025 - $nil). Of the total stock options outstanding, 4,238,369 were vested and exercisable at March 31, 2026. The weighted average exercise price of vested stock options is $1.52 and the average remaining contractual life is 2.69 years.

During the three months ended March 31, 2026, the Company granted 709,609 (three months ended March 31, 2025 - 481,225) stock options to employees, directors and consultants. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option pricing model. The weighted average assumptions and resulting fair values are as follows:

Inputs and assumptions	Three months ended March 31, 2026	Three months ended March 31, 2025

Exercise price	$4.18	$1.61
Market price	$4.18	$1.61
Expected option term (years)	5.0	5.0
Expected stock price volatility	50.8%	54.0%
Average risk-free interest rate	2.96%	3.15%
Expected forfeiture rate	-	-
Expected dividend yield	-	-

FAIR VALUE PER OPTION GRANTED	$1.97	$0.80

The Company granted restricted share units ("RSUs") in accordance with the RSU plan approved at the June 17, 2021 shareholders meeting. These RSUs vest in three equal tranches: Tranche one - on completion of 12 months from grant date, Tranche two - on completion of eighteen months from the grant date and Tranche three - on completion of twenty-four months from grant date. These RSUs are classified as equity settled as these awards will be settled by issuing the shares and are valued at the market price of the Company shares on the date of grant. As at March 31, 2026, the Company could issue an additional 5,452,922 RSUs under the RSU Plan.

Western Copper and Gold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2026 and 2025
(Unaudited – Prepared by management)

(Expressed in Canadian dollars)

A summary of the Company's RSUs outstanding and the changes for the periods then ended, is presented below:

	Number of shares issued or issuable on vesting

DECEMBER 31, 2024	655,743

RSUs Granted	986,682
RSUs Converted to common shares	(506,241	)
RSUs Forfeited	(51,796	)

DECEMBER 31, 2025	1,084,388

RSUs Granted	529,999
RSUs Converted to common shares	(320,358	)
RSUs Forfeited	(98,081	)

MARCH 31, 2026	1,195,948

In relation to RSUs, the Company recognized an expense of $365,770 for the three months ended March 31, 2026, (three months ended March 31, 2025 - $275,914) in the statements of loss and comprehensive loss. During the three months ended March 31, 2026, $110,814 was capitalized, (three months ended March 31, 2025 - $142,747) to the exploration and evaluation assets.

Only directors of the Company are eligible for deferred share units ("DSUs") and each DSU vests immediately and is redeemed upon a director ceasing to be a director of the Company. DSUs are classified as equity settled as these awards will be settled by issuing the shares and are valued at the market price of the Company shares on the date of grant. As at March 31, 2026, the Company could issue an additional 3,452,902 DSUs under the DSU Plan.

	Number of shares issuable

DECEMBER 31, 2024	658,300

DSUs Granted	204,664
DSUs Exercised/Released	(369,144	)

DECEMBER 31, 2025	493,820

DSUs Granted	58,280

MARCH 31, 2026	552,100

In relation to DSUs, the Company recognized an expense of $260,511 during the three months ended March 31, 2026, (three months ended March 31, 2025 - $60,250) in the statements of loss and comprehensive loss.

Western Copper and Gold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2026 and 2025
(Unaudited – Prepared by management)

(Expressed in Canadian dollars)

The Company's key management includes its directors and officers. The remuneration of key management was as follows:

For the three months ended March 31,	2026	2025
	$	$
Salaries and director fees	802,360	540,308
Share-based payments	916,471	645,237

KEY MANAGEMENT COMPENSATION	1,718,831	1,185,545

Share-based payments represent the fair value on grant date of stock options, RSUs and DSUs previously granted to directors and officers during the periods presented above. Salaries and share-based payments for certain officers are capitalized to the exploration and evaluation asset and the balance is recognized in the statement of loss and comprehensive loss.

During the three months ended March 31, 2026, the Company recorded a bonus accrual of $279,103 (March 31, 2025 - $181,501), which is recorded in salaries and director fees above.

All related party transactions are disclosed in the above Key Management Compensation section. There were no additional related party transactions.

The Company holds a surety bonding arrangement with a third-party (the "Surety") to satisfy bonding requirements in the Yukon Territory. The total value of the Surety is $786,777 of which $nil is collateralized on the balance sheet as at March 31, 2026 (December 31, 2025 - $nil).

The Company's operations are in one segment: the acquisition, exploration, and future development of mineral resource properties. All interest income is earned in Canada, and all assets are held in Canada.

For the three months ended March 31,	2026		2025
	$		$
Change in other assets	39,933		58,106
Change in accrued interest	(127,789	)	(238,681	)
Change in accounts payable and accrued liabilities related to operations	494,074		(1,288,152	)

CHANGE IN NON-CASH WORKING CAPITAL ITEMS	406,218		(1,468,727	)

Western Copper and Gold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2026 and 2025
(Unaudited – Prepared by management)

(Expressed in Canadian dollars)

The Company entered into a lease agreement for an office space on November 19, 2025, however had not taken possession as of March 31, 2026, as the premise was not available for use. Accordingly, no right-of-use asset or lease liability was recognized in these consolidated financial statements. The lease will be recognized upon commencement. As of March 31, 2026, the undiscounted future lease payments relating to this lease were $833,690.

The Company considers capital to be equity composed of share capital, contributed surplus, and deficit. It is the Company's objective to safeguard its ability to continue as a going concern so that it can continue to explore and develop mineral resource properties.

The Company monitors its cash position on a regular basis to determine whether sufficient funds are available to meet its short-term and long-term corporate objectives and makes adjustments to its plans for changes in economic conditions, capital markets and the risk characteristics of the underlying assets.

To maintain its objectives, the Company may attempt to issue new shares, seek debt financing, acquire or dispose of assets or change the timing of its planned exploration and development projects. There is no assurance that these initiatives will be successful.

There was no change in the Company's approach to capital management during the period. Western has no debt and does not pay dividends. The Company is not subject to any externally imposed capital restrictions.

The Board of Directors has overall responsibility for the establishment and oversight of the Company's risk management framework. The Company has exposure to liquidity, credit, and market risk from the use of financial instruments. Financial instruments consist of cash and cash equivalents, short-term investments, marketable securities, certain other assets, and accounts payable and accrued liabilities.

As at March 31, 2026, the carrying amounts of cash and cash equivalents, short-term investments, marketable securities and accounts payable and accrued liabilities are considered to be reasonable approximations of their fair values due to the short-term nature of these instruments. The fair value of the marketable securities is determined by reference to published price quotations in an active market (classified as level 1 in the fair value hierarchy).

Liquidity risk is the risk that the Company will be unable to meet its financial obligations as they come due. The Company uses cash forecasts to ensure that there is sufficient cash on hand to meet short-term business requirements. Cash is invested in redeemable GICs, which are highly liquid investments and available to discharge obligations when they come due. The Company does not maintain a line of credit.

Western Copper and Gold Corporation
Notes to the Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2026 and 2025
(Unaudited – Prepared by management)

(Expressed in Canadian dollars)

Financial instruments that potentially subject the Company to credit risk consist primarily of cash and cash equivalents and short-term investments. These financial instruments are at risk to the extent that the institutions issuing or holding them cannot redeem amounts when they are due or requested. To limit its credit risk, the Company uses a restrictive investment policy. Cash and cash equivalents and short-term investments are held with high quality financial institutions. Substantially all cash and cash equivalents and short-term investments held with financial institutions exceeds government-insured limits. We have established credit policies that seek to minimize our credit risk by entering into transactions with investment grade credit worthy and reputable financial institutions. The carrying amount of financial assets, other than marketable securities, recorded in the financial statements represents Western's maximum exposure to credit risk.

The Company is exposed to market risk because of the fluctuating values of its publicly traded marketable securities. The Company has no control over these fluctuations and does not hedge its investments. Marketable securities are adjusted to fair value at each balance sheet date. A 10% fluctuation in value of its publicly traded marketable securities rate would have a minimal impact on the Company's loss and comprehensive loss.

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Company's financial assets and liabilities are not exposed to interest rate risk due to their short-term nature and maturity. Cash and equivalents and short-term investments are subject to fixed interest rates. The Company is not subject to interest rate risk.

		March 31, 2026		December 31, 2025
	Note	$		$
ASSETS

Cash and cash equivalents	3	36,044,318		22,259,937
Short-term investments	4	98,311,330		28,273,349
Marketable securities		11,760		9,660
Other assets		814,661		772,186
CURRENT ASSETS		135,182,069		51,315,132

Property, plant and equipment		44,622		46,291
Right-of-use assets		144,953		236,112
Exploration and evaluation asset	5	147,493,607		144,292,235

ASSETS		282,865,251		195,889,770

LIABILITIES

Accounts payable and accrued liabilities		2,871,156		2,434,598
Current portion of lease obligation		120,218		172,110
CURRENT LIABILITIES		2,991,374		2,606,708

Lease obligations		12,273		64,875

LIABILITIES		3,003,647		2,671,583

SHAREHOLDERS' EQUITY

Share capital	6	368,808,511		279,558,766
Contributed surplus	7	38,565,136		38,630,750
Deficit		(127,512,043	)	(124,971,329	)

SHAREHOLDERS' EQUITY		279,861,604		193,218,187

LIABILITIES AND SHAREHOLDERS' EQUITY		282,865,251		195,889,770

Commitments	12

For the three months ended March 31,		2026		2025
	Note	$		$

Depreciation		32,305		16,561
Filing and regulatory fees		297,805		237,298
Office and administration		230,539		189,022
Professional fees		192,164		123,042
Share-based payments	7a	916,987		641,804
Shareholder communication and travel		288,322		149,171
Wages and benefits		981,110		736,625

CORPORATE EXPENSES		2,939,232		2,093,523

Foreign exchange loss (gain)		1,303		(15,093	)
Interest income		(397,721	)	(666,364	)
Gain on marketable securities	4	(2,100	)	(775,000	)

LOSS AND COMPREHENSIVE LOSS		2,540,714		637,066

Basic and diluted loss per share		0.01		0.00

Weighted average number of common shares outstanding		211,257,307		199,089,677

For the three months ended March 31,		2026		2025
		$		$
Cash flows provided by (used in)	Note

OPERATING ACTIVITIES
Loss and comprehensive loss		(2,540,714	)	(637,066	)

ITEMS NOT AFFECTING CASH
Depreciation		32,305		16,561
Finance costs		4,329		1,047
Gain on marketable securities		(2,100	)	(775,000	)
Share-based payments		916,987		641,804
		(1,589,193	)	(115,588	)

Change in non-cash working capital items	11	406,218		(1,468,727	)

OPERATING ACTIVITIES		(1,182,975	)	(2,221,381	)

FINANCING ACTIVITIES

Financings	6	92,001,869		-
Share issuance costs	6	(5,548,376	)	-
Exercise of stock options	7a	1,649,468		-
Exercise of warrants		-		1,275,000
Lease payments		(43,944	)	(19,288	)

FINANCING ACTIVITIES		88,059,017		1,255,712

INVESTING ACTIVITIES
Redemption (purchase) of short-term investments		(69,910,192	)	1,243,806
Exploration and evaluation asset expenditures		(3,181,469	)	(4,334,741	)

INVESTING ACTIVITIES		(73,091,661	)	(3,090,935	)

CHANGE IN CASH AND CASH EQUIVALENTS		13,784,381		(4,056,604	)

Cash and cash equivalents - Beginning		22,259,937		14,202,317

CASH AND CASH EQUIVALENTS - ENDING		36,044,318		10,145,713

	Number of Shares	Share Capital		Contributed Surplus		Deficit		Shareholders' Equity
		$		$		$		$

DECEMBER 31, 2024	198,391,318	272,544,984		38,916,835		(121,851,567	)	189,610,252

Exercise of restricted share units	108,940	166,379		(166,379	)	-		-
Exercise of warrants	1,500,000	1,626,000		(351,000	)	-		1,275,000
Share-based payments	-	-		800,034		-		800,034
Loss and comprehensive loss	-	-		-		(637,066	)	(637,066	)

MARCH 31, 2025	200,000,258	274,337,363		39,199,490		(122,488,633	)	191,048,220

Exercise of restricted share units	397,301	806,850		(806,850	)	-		-
Exercise of stock options	1,768,333	4,049,923		(1,092,887	)	-		2,957,036
Exercise of deferred share units	171,700	364,630		(739,725	)	-		(375,095	)
Share-based payments	-	-		2,070,722		-		2,070,722
Loss and comprehensive loss	-	-		-		(2,482,696	)	(2,482,696	)

DECEMBER 31, 2025	202,337,592	279,558,766		38,630,750		(124,971,329	)	193,218,187

Shares issued for cash	22,169,125	92,001,869		-		-		92,001,869
Share issuance costs	-	(5,548,376	)	-		-		(5,548,376	)
Exercise of restricted share units	320,358	520,056		(520,056	)	-		-
Exercise of stock options	801,609	2,276,196		(626,728	)	-		1,649,468
Share-based payments	-	-		1,081,170		-		1,081,170
Loss and comprehensive loss	-	-		-		(2,540,714	)	(2,540,714	)

MARCH 31, 2026	225,628,684	368,808,511		38,565,136		(127,512,043	)	279,861,604