NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US PERSONS.
West High Yield (W.H.Y.) Resources Ltd. (TSX VENTURE:WHY) (“West High Yield” or the “Company”) announces the release of its financial results and the Management Discussion and Analysis (“MD&A”) for the three months ended March 31, 2010. The unaudited financial statements and related MD&A for the three months ended March 31, 2010 have been filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.
The Company previously announced its Annual General Meeting for the year ended December 31, 2009 has been scheduled for 10:00 am on June 15, 2010 at the offices of Bennett Jones 4500 Bankers Hall East 855 2nd Street SW, Calgary, Alberta.
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.
READER ADVISORY
This news release may contain certain forward-looking statements, including management’s assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, risks associated with mining exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers and producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
42,720,394 Common Shares Issued
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco
President and Chief Executive Officer
(403) 660-3488
(403) 206-7159 (FAX) [email protected]
or
West High Yield (W.H.Y.) Resources Ltd.
Dwayne Vinck
Chief Financial Officer
(403) 257-2637
(403) 206-7159 (FAX) [email protected]
or
West High Yield (W.H.Y.) Resources Ltd.
28 Arbour Lake Drive N.W.,
Calgary, Alberta T3G 3N8
West High Yield (W.H.Y.) Resources Ltd. (TSX VENTURE:WHY) (“West High Yield” or the “Company”) advises that its Annual and Special Meeting of Shareholders of the Company (the “Meeting”) which was scheduled for Thursday, May 27, 2010, has been rescheduled to Tuesday, June 15, 2010. As previously announced, the Meeting will be held at the offices of Bennett Jones LLP located at 4500 Bankers Hall, East 855 – 2nd Street SW, Calgary, Alberta. The record date for the Meeting will remain April 26, 2010 and the Company anticipates that the Notice of Meeting and accompanying Information Circular will be mailed to Shareholders on May 19, 2010.
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.
42,720,394 Common Shares Issued
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco
President and Chief Executive Officer
(403) 660-3488
(403) 206-7159 (FAX) [email protected]
or
West High Yield (W.H.Y.) Resources Ltd.
Dwayne Vinck
Chief Financial Officer
(403) 257-2637
(403) 206-7159 (FAX) [email protected]
or
West High Yield (W.H.Y.) Resources Ltd.
28 Arbour Lake Drive N.W.
Calgary, Alberta T3G 3N8
West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) (TSX VENTURE:WHY) announces the release of its financial results and the Management Discussion and Analysis (“MD&A”) for the year ended December 31, 2009. The audited financial statements and related MD&A for the year ended December 31, 2009 have been filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.
The Company also announces that its Annual and Special Meeting of Shareholders of the Company (the “Meeting”) will be held on Thursday, May 27, 2010, at the offices of Bennett Jones 4500 Bankers Hall East 855 2nd Street SW, Calgary, Alberta. The record date for the Meeting is April 26, 2010 and the Notice of the Meeting and accompanying Information Circular detailing the information with respect to the Meeting matters, are being mailed to the Shareholders on May 3, 2010.
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.
READER ADVISORY
This news release may contain certain forward-looking statements, including management’s assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, risks associated with mining exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers and producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
42,692,794 Common Shares Issued
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco
President and Chief Executive Officer
(403) 660-3488
(403) 206-7159 (FAX) [email protected]
or
West High Yield (W.H.Y.) Resources Ltd.
Dwayne Vinck
Chief Financial Officer
(403) 257-2637
(403) 206-7159 (FAX) [email protected]
or
West High Yield (W.H.Y.) Resources Ltd.
28 Arbour Lake Drive N.W.,
Calgary, Alberta T3G 3N8
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US PERSONS.
West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) (TSX VENTURE:WHY) is pleased to announce that it has completed the drilling and testing of 26 NQ drill holes totaling 2,997 m (9,830 feet) in its 2009 gold drilling program on the Company’s Midnight Crown granted claim on the western outskirts of Rossland, British Columbia. The Company has now received the analysis for all 26 holes of the 2009 gold drill program. All drill holes in the 2009 gold drilling program were vertical holes. The Company previously reported the assay results for 15 holes (MN09-1 through 15) and now reports the results of the last 11 holes (MN09-16 through MN09-26), which are summarized in the table below.
In the gold intersection table below, it is noted that except for two holes (MN09-19 and MN09-26), all holes intersected a series of quartz veins and gold bearing serpentinites with significant gold values being noted in hole MN09-24, which returned a weighted average of 25.16 g/tonne over a true width of 3.6 m (11.8 feet) including 73.23 g/tonne Au for a true width of 1.2 m (3.9 feet). The Company also requested Assayers Canada to conduct a screen metallic analysis of certain drill cores. Based on the 2009 drill core results achieved to date, the Company continues to define the gold mineralization on a 10 m spaced drill hole grid on its Midnight property in order to allow the Company to proceed with a mineral resource estimate pursuant to National Instrument 43-101. The Company has retained SRK Consulting Engineers and Scientists (“SRK”) of Denver, Colorado, an independent engineering firm, to undertake an independent NI 43-101 measured mineral resource estimation of the Company’s Midnight property. For the readers’ reference, this press release is accompanied by a map of the 2009 Diamond Drilling Plan on the Midnight property.
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. The Company’s operations are being conducted on the Rossland Gold Camp property which is situated approximately 2.5 kilometers west of the town of Rossland, B.C. The Company controls approximately 6,316 contiguous hectares of mineral and crown granted claims and is exploring on its primary properties which are the Midnight, OK, IXL and Golden Drip crown grants. Historically, under previous ownerships, these properties experienced gold production from narrow quartz veins with high grade gold content.
The Company’s field activities are supervised and the technical data for this report was prepared by H. Kim, P.Geo/P.Eng (Practicing) and assisted by Cory Peck, B.Sc, Geol.I.T. Mr. Kim is a qualified person as defined by National Instrument 43-101 (“NI 43-101”).
READER ADVISORY
This news release may contain certain forward-looking statements, including management’s assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, risks associated with mining exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers and producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
42,692,794 Common Shares Issued
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco
President and Chief Executive Officer
(403) 660-3488
Fax: (403) 206-7159 [email protected]
or
West High Yield (W.H.Y.) Resources Ltd.
Dwayne Vinck
Chief Financial Officer
(403) 257-2637
Fax: (403) 206-7159 [email protected]
or
West High Yield (W.H.Y.) Resources Ltd.
28 Arbour Lake Drive N.W.
Calgary, Alberta T3G 3N8
/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US PERSONS/
West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) (TSX VENTURE:WHY) announces additional results from its on-going 2009 gold exploration drill program in its Midnight Crown granted claim on the western outskirts of Rossland, British Columbia. The Company previously reported the assay results from eight holes (MN09-1 through 8) through press releases dated August 5, 2009 and September 16, 2009. The Company has since completed the drilling of 10 additional vertical holes (MN09-9 through 18), of which seven have been assayed and summarized in the table below (MN09-9 through 15). Assays are conducted by Assayers Canada Laboratory and the results of the remaining three vertical wells will be released when the assays have been completed. A QA/QC grade control program for high grade samples (over 28 g/tonne Au) is being continued for confirmation by ALS Chemex and Acme Laboratories, both of Vancouver, B.C. MN09-15 intersected multiple zones of high grade gold bearing serpentinite and quartz veins returning weighted average of 40.1 g/tonne (1.41 ounces) over a true width of 2.3 m (7.5 feet) including 198 g/tonne (6.98 ounces) Au for a true width of 0.6 m (2 feet) near surface (13.9 m in drill depth). All other holes intersected multiple zones of high grade gold bearing serpentinite, including 47.8 g/tonne (1.7 ounces) Au over a true width of 1.9 m (6.2 feet) at hole MN09-11. Based on the 2009 drill core results achieved to date, the Company continues to successfully define the gold mineralization on a 10 m spaced drill hole grid on it’s Midnight property in order to allow the Company to proceed with a mineral resource estimate pursuant to National Instrument 43-101.
West High Yield also announces that it has closed the second tranche of its previously announced non-brokered private placement (the “Private Placement”) of up to
$1,000,000 of Units. Each Unit was sold for $1.45 and is comprised of two Flow-Through Common Shares (the “Flow-Through Shares”) priced at $0.50 per share and one Common Share of the Company (the “Common Shares”) priced at $0.45 per share. In the second tranche, the Company raised gross proceeds of $162,400 and issued 224,000 Flow-Through Shares and 112,000 Common Shares. In the two tranches completed to date, the Company raised gross proceeds of $295,800. The Units were sold to enable the Company to continue to explore for gold on its Midnight property. Finder’s Fees of 10% cash and 10% warrants were paid in the Private Placement to non-related parties. The shares issued in the private placement are subject to a four month hold period and are subject to final TSXV approval.
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. The Company’s operations are being conducted on the Rossland Gold Camp property which is situated approximately 2.5 kilometers west of the town of Rossland, B.C. The Company controls approximately 6,316 contiguous hectares of mineral and crown granted claims and is exploring on its primary properties which are the Midnight, OK, IXL and Golden Drip crown grants. Historically, under previous ownerships, these properties experienced gold production from narrow quartz veins with high grade gold content.
The Company’s field activities are supervised and the technical data for this report was prepared by H. Kim, P.Geo/P.Eng (Practicing) and assisted by Cory Peck, B.Sc, Geol.I.T. Mr. Kim is a qualified person as defined by National Instrument 43-101 (“NI 43-101”).
READER ADVISORY
This news release may contain certain forward-looking statements, including management’s assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, risks associated with mining exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers and producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
42,692,794 Common Shares Issued
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
West High Yield (W.H.Y.) Resources Ltd. Frank Marasco
CALGARY, ALBERTA – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) announces additional results from the Company’s ongoing 2009 gold exploration drill program on its Midnight Crown granted claim on the western outskirts of Rossland, British Columbia. The Company previously reported the assay results from the initial four holes of its 2009 program (MN09-1 through 4) in a Company press release dated August 5, 2009. The Company subsequently completed the drilling of 10 additional vertical holes, of which four have been assayed and summarized in the table below. As previously noted, the assays are being conducted by Assayers Canada and for the purposes of QA/QC grade control, ALS Chemex Laboratory is continuing to review high grade samples (over 28 g/tonne Au) for the Company. In the table below, it is noted that hole MN09-6 intersected a series of quartz veins with significant gold values, returning a weighted average of 21.03 g/tonne over a true width of 1.4 m (4.6 feet) including 53.3 g/tonne Au for a true width of 0.32 m (1 foot) near surface (14.9 m in drill depth). MN09-6 also intersected multiple zones of high grade gold bearing serpentinite, including 41.35 g/tonne Au over a true width of 0.8 m (2.6 feet). Based on the 2009 drill core results achieved to date, the Company continues to define the gold mineralization on a 10 m spaced drill hole grid on its Midnight property in order to allow the Company to proceed with a mineral resource estimate pursuant to National Instrument 43-101. For the readers’ reference, this press release is accompanied by a map of the 2009 Diamond Drilling Plan on the Midnight property.
The Company also announces that it is proceeding with a private placement (the “Private Placement”) of a minimum of $500,000 and up to a maximum of $1,000,000 of Units. Each Unit is priced at $1.45 and is comprised of two Flow-Through Common Shares (the “Flow-Through Shares”) priced at $0.50 per share and one Common Share of the Company (the “Common Shares”) priced at $0.45 per share. The Units are being sold to enable the Company to continue to explore for gold on its Midnight property. The Company advises that it has completed the first tranche of the Private Placement for gross proceeds of $133,400 and issued 184,000 Flow-Through Shares and 92,000 Common Shares. Finder’s Fees of 10% cash and 10% warrants will be paid in the Private Placement to non-related parties. The shares issued in the private placement are subject to a four month hold and subject to final TSXV approval.
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. The Company’s operations are being conducted on the Rossland Gold Camp property which is situated approximately 2.5 kilometers west of the town of Rossland, B.C. The Company controls approximately 6,316 contiguous hectares of mineral and crown granted claims and is exploring on its primary properties which are the Midnight, OK, IXL and Golden Drip crown grants. Historically, under previous ownerships, these properties experienced gold production from narrow quartz veins with high grade gold content.
The Company’s field activities are supervised and the technical data for this report was prepared by H. Kim, P.Geo/P.Eng (Practicing) and assisted by Cory Peck, B.Sc, Geol.I.T. Mr. Kim is a qualified person as defined by National Instrument 43-101 (“NI 43-101”).
For further information please contact:
Frank Marasco President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. 28 Arbour Lake Drive N.W., Calgary, Alberta T3G 3N8 Telephone: (403) 660-3488 Facsimile: (403) 206-7159 Email: [email protected]
Dwayne Vinck Chief Financial Officer West High Yield (W.H.Y.) Resources Ltd. 28 Arbour Lake Drive N.W., Calgary, Alberta T3G 3N8 Telephone: (403) 257-2637 Facsimile: (403) 206-7159 Email: [email protected]
READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain forward-looking statements, including management’s assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, risks associated with mining exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers and producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Not for dissemination in the United States or to US persons.
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US PERSONS.
West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) (TSX VENTURE:WHY) announces that it has completed the first seven drill holes of its projected 20 exploration diamond drill program on its Midnight Crown granted claim on the western outskirts of Rossland, British Columbia. Of the initial drill holes completed, four drill cores have now been assayed by Assayers Canada, of Vancouver, B.C. and the Company is reporting the assay results from these holes, which are summarized in the table below. As a QA/QC grade control, all high grade samples (over 28 g/tonne Au) will be checked for confirmation by ALS Chemex Laboratory, of Vancouver, B.C. In the previous drill program and the current program on the Company’s properties, the Company encountered various quantities of gold, including a weighted average of 30.45 g/tonne Au over 5.7 m (18.5 feet) to 75 g/tonne Au over 1.06 m (3.5 feet) at hole SR06-8 (which was drilled in the earlier drill program and reported in a Company press release dated October 10, 2006) and in the recently completed drill hole MN09-4, a gold intersection with a weighted average of 34.37 g/tonne Au over 2.7 m (8.9 feet). Based on the 2009 drill core results achieved to date, the Company is encouraged with the results obtained from the program which continues to identify multiple zones of gold and silver mineralization on the Company’s properties. In the 2009 program, the Company plans to complete a drill hole grid on its Midnight property in order to allow the Company to proceed with a resource study pursuant to National Instrument 43-101.
Report on Magnesium
As previously reported, the Company completed and filed a National Instrument 43-101 Technical Report that established a substantial resource of Magnesium on the Company’s Record Ridge South property. In earlier reports, the Company also advised that it wished to proceed with a conceptual mining plan for a large, open pit quarry area to mine the Magnesium in its Record Ridge South property. Subject to the Company securing additional financing, SRK Consulting (US) Inc. (“SRK”) of Denver, Colorado recommended in its report that the Company proceed with a three phase drilling program targeting resource expansion and geotechnical data collection, conduct further metallurgical test work and complete a scoping level economic evaluation. The first phase of the drilling program will focus on the unconfined portions of the higher-grade resource located in the north-western portion of the Company’s property and will also test the undrilled material located between the two zones of known mineralization. When completed, this study should provide more geotechnical data for an open pit mine design.
The second phase of drilling will include several triple wall core holes located in the conceptual pit walls to obtain enough data to support a preliminary pit slope design.
The third phase of drilling will focus on the unconfined mineralization in the Company’s Ivanhoe South property. The drilling programs may run sequentially or concurrently depending on financing and time lines. Based on the results of the variography and geologic modeling, the drill hole spacing can be expanded to 100 m separation and still support an indicated resource. Metallurgical test work will focus on optimization of the processes delineated in the preliminary studies, including bond work index determinations, closed cycle test work and reagent consumption predictions, all resulting in a conceptual mill flow sheet. The scoping level economic evaluation will be initiated at the conclusion of the drilling and metallurgical test work. The scoping study will include an updated resource estimate incorporating the results of the new drilling, conceptual mining plan, site layout, metallurgical studies and mill plan. This data will form the basis of a preliminary economic model of the project.
The Company plans on commencing the first phase of the Magnesium drilling program in the spring of 2010 with 20 drill holes planned with an estimated cost of
$1,500,000 which includes project management and general overhead costs. The second phase geotechnical drilling program (six pit well drill holes) will be commenced immediately upon the completion of the first phase with an estimated cost of $500,000. The third phase drilling program is more extensive and will involve step out drilling of 15 holes with an estimated cost of $1,165,000 to be followed by a metallurgical study with an estimated cost of $150,000. All three phases will be completed within 18 months of the commencement date.
Private Placement
The Company also announces that, subject to regulatory and TSX Venture Exchange approval, it is proceeding with a private placement on a best-efforts basis (the “Private Placement”) of a minimum of $500,000 up to a maximum of $1,000,000 of Units at a price of $1.45 per Unit. Each Unit will be comprised of two (2) Flow- Through Common Shares (the “Flow-Through Shares”) priced at $0.50 per share and one (1) Common Share (the “Common Shares”) priced at $0.45 per share. The Units are being sold to enable the Company to continue to explore for gold on its Midnight property. The closing of the Private Placement is expected to take place on or before September 11, 2009. All securities issued pursuant to the Private Placement will be subject to a four month hold pursuant to applicable securities legislation.
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. The Company’s operations are being conducted on the Rossland Gold Camp property which is situated approximately 2.5 kilometers west of the town of Rossland, B.C. The Company controls approximately 6,316 contiguous hectares of mineral and crown granted claims and is exploring on its primary properties which are the Midnight, OK and IXL crown grants. Historically, under previous ownerships, these properties experienced gold production from narrow quartz veins with high grade gold content.
The Company’s field activities are supervised and the technical data for this report was prepared by H. Kim, P.Geo/P.Eng (Practicing) and assisted by Cory Peck, B.Sc, Geol.I.T. Mr. Kim is a qualified person as defined by National Instrument 43-101 (“NI 43-101”).
READER ADVISORY
This news release may contain certain forward-looking statements, including management’s assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, risks associated with mining exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers and producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
42,080,794 Common Shares Issued
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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West High Yield (W.H.Y.) Resources Ltd. Frank Marasco
West High Yield (W.H.Y.) Resources Ltd. (the “Company”) (TSX VENTURE:WHY) announces that it has closed its previously announced private placement financing (the “Offering”) to the MineralFields Group consisting of 1,250,000 Units (“Units”) at a price of $0.40 per Unit, for aggregate gross proceeds of $500,000. Each Unit consists of one common share in the capital stock of the Company, issued as a “flow-through common share” and one common share purchase warrant of the Company (“Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of $0.60 per common share, at any time on or before June 5, 2010, and thereafter, at an exercise price of $0.80 per common share at any time up to June 5, 2011. The securities issued in connection with this Offering are subject to a four (4) month hold period.
About MineralFields, Pathway and First Canadian Securities®
MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities® is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities®.
Operations Report
The Company also advises that it will commence its 2009 Gold Exploration Drilling Program on its Rossland, British Columbia property on June 8, 2009.
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.
42,080,794 Common Shares Issued
READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) (TSX VENTURE:WHY) announces the release of its financial results and the Management Discussion and Analysis (“MD&A”) for the three month period ended March 31, 2009. The unaudited interim financial statements and related MD&A for the three months ended March 31, 2009 have been filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.
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.
READER ADVISORY
This news release may contain certain forward-looking statements, including management’s assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, risks associated with mining exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers and producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
40,830,794 Common Shares Issued
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
West High Yield (W.H.Y.) Resources Ltd. (the “Company”) (TSX VENTURE:WHY) is pleased to announce its intention to enter into a private placement (the “Offering”) of $500,000 through the sale of 1,250,000 units (“Units”), at $0.40 per Unit, to the MineralFields Group. Each Unit will consist of one common share in the capital stock of the Company, to be issued as a “flow-through common share” and one non-flow-through common share purchase warrant of the Company (“Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of $0.60 per common share, at any time on or before 5:00 p.m. (Calgary time) on the date that is 12 months from the date of issuance of the Unit, and thereafter, at an exercise price of $0.80 per common share at any time up to 24 months from the date of issuance of the Unit. The securities issued in connection with this Offering will be subject to a four (4) month hold period. Closing of the Offering is expected to take place on or about May 29, 2009. The net proceeds from the Offering will be used to fund drilling activities. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
“We are pleased to be entering into this relationship with MineralFields Group”, said Frank Marasco, President and Chief Executive Officer. We look forward to working with MineralFields Group as we develop our holdings in the Rossland, British Columbia region.”
About MineralFields, Pathway and First Canadian Securities®
MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities® is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities®.
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.
READER ADVISORY
This news release may contain certain forward-looking statements, including management’s assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, risks associated with mining exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers and producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
40,830,794 Common Shares Issued
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
