CALGARY, ALBERTA, – August 1, 2006. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) is pleased to announce that it has successfully completed its initial public offering (the “Offering”). The Offering was fully subscribed with gross proceeds of $2,000,000. Closing documents for the Initial Public Offering were filed with the TSX Venture Exchange (the “TSXV”) and the TSXV issued a bulletin yesterday to list all the common shares of West High Yield for trading on the TSXV commencing Tuesday, August 1, 2006, under the trading symbol “WHY”.
The Company also announces that the Board of Directors approved the granting of stock options to officers, directors, employees and consultants of the Company. Options to purchase 3,000,000 common shares were issued by the Company with an exercise price of $0.40 per share. The options are for a term of five years with standard vesting provisions.
West High Yield is an junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold properties.
For further information please contact:
Frank Marasco Craig G. Robson
President and Chief Executive Officer Vice President, Corporate Development West High Yield (W.H.Y.) Resources and Investor Relations
28 Arbour Lake Drive, NW West High Yield (W.H.Y.) Resources
Calgary, Alberta T3G 3N8 Suite 620, 800 West Pender Street
Telephone: (403) 660-3488 Vancouver, BC V6C 2V6
Facsimile: (403) 206-7159 Telephone: (604) 868-7961
Facsimile: (604) 274-1431
Email: [email protected] Email: [email protected] [email protected]
ADVISORY: Certain information regarding the Company including management’s assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers and ability to assess sufficient capital from internal and external source. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Not for dissemination in the United States or to U.S persons.