TSX- and NYSE American-listed Western Copper and Gold has announced that executive chairperson Dale Corman, who founded the company, will retire on Wednesday.
The board has appointed Ken Williamson to act as interim chairperson and has begun the process of finding a permanent replacement.
Western owns the Casino project in the Yukon, which is one of the world's largest copper/gold deposits and is slated to become Canada's premier copper/gold mine. The company recently announced Rio Tinto Canada as a strategic investor.
In honour of Corman's contributions to mining over the past several decades, Western’s board said it would be contributing an initial $150 000 to a yearly scholarship in Corman's name to help students in the Yukon acquire degrees in engineering and science.
"Over the last 50 years, I have met and worked with a group of extraordinary people who have dedicated their lives to the mining industry," said Corman. "The decision to retire was not an easy one for me to make. I am now looking forward to a less stressful life on the sunny coast of British Columbia.
“I am extremely honoured that the Board of Directors have chosen to initially fund in my name a scholarship to help students in the Yukon to acquire degrees in Engineering and Science. It is my hope that this fund will grow along with the development of the Casino Project and become a major contributor to the education of students in the Yukon."