CALGARY, ALBERTA – November 29, 2016. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) announces the release of its financial results and Management Discussion and Analysis (“MD&A”) for the nine months ended September 30, 2016. The unaudited interim condensed financial statements and related MD&A for the nine months ended September 30, 2016 have been filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.
British Columbia Environmental Assessment Application and Mine Permit Application
As required to meet and exceed regulatory requirements, the Company has focused on extensive environmental baseline studies for its Record South Ridge Properties and surroundings. These studies include Water Quality, Fisheries, Vegetation, Soil, and a comprehensive GIS Terrestrial Ecosystem Mapping. In addition to these studies the Company will be fully consulting with Community and First Nations Stakeholders. These studies and the Project Description and Environmental Work Planning is being conducted by Greenwood Environmental and SRK Consulting (Canada) both of Vancouver, BC.
Magnesium Hydrometallurgical Testing
Drinkard Metalox, Inc. (“Drinkard”) of Charlotte, North Carolina continues its hydrometallurgical testing of the Company’s magnesium ore to evaluate magnesium processing and recovery alternatives. Drinkard is now engaged in micro-plant scale production simulation testing at their facilities. to further evaluate the magnesium extraction processing to improve recovery and reduce plant capital and operating costs. SRK Consulting (U.S.) Inc. of Lakewood, Colorado will review the results of Drinkard’s testing.
Year to date expenditures exceed $1 million and the Company continues to pursue additional financing for continuation of the above projects.
About West High Yield
West High Yield is a publicly traded 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, nickel and magnesium properties.
|For further information please contact:|
President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488
Facsimile: (403) 206-7159
Email: [email protected]
Chief Financial Officer
West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 257-2637
Facsimile: (403) 206-7159 Email: [email protected]
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the Company’s plans to develop its properties and pursue financing for its projects. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
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