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West High Yield Resources closes equity financing

CALGARY, ALBERTA, – May 10, 2007. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) announces that the Company has closed its previously announced private placement (the “Financing”) with IBK Capital Corp. (“IBK”) of Toronto, Ontario. In the Financing, the Company issued 4,500,000 units (“Units”) at a price of $0.65 per Unit for gross proceeds of $2,925,000 million CDN. Each Unit consists of one common share of West High Yield and one-half of one common share purchase warrant. Each whole warrant is exercisable for one common share of the Company at a price of $1.00 per share for a period of two years from the closing date of the Financing. The Company may automatically convert the warrants if the common shares of the Company trade at or above $1.50 for a period of 20 consecutive trading days and upon 30 days’ notification to the holders. All of the common shares and warrants issued pursuant to the financing will be subject to a four-month hold period in accordance with applicable securities laws and stock exchange requirements. West High Yield intends to use the proceeds of the financing for working capital, to fund exploration work on the Rossland project and to acquire neighbouring claims.

IBK acted as Agent on to the Financing and was paid a cash commission of $234,000 which is equal to 8% of the gross proceeds and was also issued 360,000 non-transferable compensation warrants, each entitling the holder to acquire one common share of the Company at a price of $0.65 per common share for a period of two years.

West High Yield is a junior 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 and nickel 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) 283-5555 Vancouver, BC V6C 2V6

Facsimile: (403) 206-7159 Telephone: (604) 868-7961

Facsimile: (604) 274-1431

Email: [email protected] Email: cgro[email protected] [email protected]


The TSX Venture Exchange has neither approved nor disapproved of the contents of this new release and does not accept responsibility for the adequacy or accuracy of this release.

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 access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

Not for dissemination in the United States or to U.S. persons.