It might rain tomorrow, but we're going out regardless.
Literal
Tomorrow rain [to-に] become [might-かもしれない] [but-が] anyway we [topic-は] go-out intend-is.
~かもしれない ('might') expresses possibility. ともかく ('anyway, regardless') dismisses the preceding concern. The が links the two clauses contrastively. This shows how Japanese handles 'X might happen, but Y anyway.'