Magnesium-Ion Batteries: A Game-Changing Development in Energy Storage

WHY.V     0.31          3.0%      Volume:  139100.0      Bid:  0.3050 x 0      Ask:  0.3100 x 0      Day Range:  0.2900 - 0.3500      Last Updated:  06:00PM
West High Yield Resources provides an update on permit application for its Record Ridge Magnesium Project

CALGARY, ALBERTA – July 4, 2023 West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV: WHY) is pleased to provide an update on the progress of its application for a mining permit for its Record Ridge Industrial Mineral Mine (“RRIMM” or the “Project“) magnesium deposit located 10 kilometers southwest of Rossland, British Columbia.

First Provincial Mining Development Review Committee Meeting introduced the technical review process

On June 27, 2023, a meeting (the “MDRC Meeting“) with the Provincial Mining Development Review Committee (the “MDRC“) was held in Rossland, British Columbia, where the technical review process for the Project was introduced.

At the MDRC Meeting, which was run and facilitated by British Columbia’s Ministry of Energy, Mines and Low Carbon Innovation, the MDRC initiated the technical review of the Company’s permit application process and allowed for discussions regarding the further engagement of interested parties as the permit process and Project unfolds. Participants at the MDRC Meeting included government officials, technical experts, and First Nations groups and Indigenous peoples.

At the MDRC Meeting, the Company outlined a number of the proposed Project mitigation strategies to address concerns and interests that have been expressed through its public engagement to date. These included:

  • substituting the use of explosives with mechanized equipment for ore extraction;
  • implementing enclosed environments for crushing equipment to effectively manage dust and noise; and
  • exploring the option with the British Columbia Ministry of Transportation and Infrastructure of utilizing a trucking route along Highway 22 to North Port, Washington, rather than passing through the City of Rossland.

“We appreciate the community members who provided feedback at our open houses in May, and we have responded to show our commitment to working together to make this the best possible project”, said Barry Baim, Director and Corporate Secretary of West High Yield. “We look forward to ongoing conversations to demonstrate the positive benefits of the Project for the First Nations and Indigenous people and community.”

Engagement with Indigenous Nations

West High Yield continues it engagements with First Nations groups and Indigenous peoples that reside in the Project territory, and discussions with the Osoyoos Indian Band continue to advance.

“We appreciate the constructive approach West High Yield has taken, and we look forward to working with the Company and the B.C. Government to ensure that any decisions going forward reflect an approach that is sustainable and includes the Osoyoos Band”, said Clarence Louie, Chief of the Osoyoos Indian Band.

 

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium, silica, and nickel deposit using green processing techniques to minimize waste and CO2 emissions.

The Company’s Record Ridge magnesium deposit is located 10 kilometres southwest of Rossland, British Columbia and has approximately 10.6 million tonnes of contained magnesium based on an independently produced preliminary economic assessment technical report prepared by SRK in accordance with the National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Contact Information:

West High Yield (W.H.Y.) Resources Ltd.

Frank Marasco Jr., President and Chief Executive Officer

Telephone: (403) 660-3488

Email: [email protected]

 

Barry Baim, Director and Corporate Secretary

Telephone: (403) 829-2246

Email: [email protected]

 

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. 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; and 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.

 This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

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