CALGARY, ALBERTA – SEPTEMBER 20, 2022 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to announce the confirmation of additional multiple high-grade gold assays following the identification of visible native gold in drill core from DDH MN22-05 and to provide an update from the 2022 6,500 metre exploration drilling program (the “2022 Program“). The 2022 Program is ongoing at the Company’s Midnight Gold claim (“Midnight“) located in the Rossland Gold Camp area, British Columbia (Figure 1). A total of 3,080 metres were completed as of September 16, 2022. Three drills currently are active on the 15^th to 17^th holes of the program (Table 1). The Rossland Gold Camp historically produced over 2.76 million ounces of recovered gold and 3.52 million ounces of recovered silver.

“We were excited to identify visible gold (Figure 2) in high-grade assay intervals in MN22-05 and the assays using gravimetric and metallic screen protocols verified the significant Au grades from 14 g/t Au to

33.7 g/t Au, and 311 g/t Au, respectively, in four sample intervals contained within a 17.5 metre core intersection (Table 2, Figure 3),” stated Greg Davison, P.Geo and QP for Midnight. “Screen metallics confirmed elevated Au in the coarse fraction (1,460 g/t Au) which contributed 20% of the contained Au and an average of 277 g/t Au for the fine fraction for the 0.3 metre interval for 69.95m – 70.25m. Anomalous silver values for the latter interval were reported at 94.9 g/t Ag. Of note, the assays for the MN22-05 core intervals immediately below the noted mineralization are pending from ALS Global.”

“The high-grade Au within the variably listwanized ultramafics occurred as discrete particles and linear arrays within moderate to pervasive quartz-serpentine replacement, simple to deformed crackle breccia textures and intersecting sets of multi-stage, commonly zoned, 1-10 mm veinlets and locally disseminated to vein-hosted pyrite, chalcopyrite and galena,” said Mr. Davison. “We look forward to receipt of Au and multi-element assays pending for the remaining 40 metres of MN22-05 and for an additional three holes submitted for analysis (MN22-06 to MN22-08) in the targets to the south, east and below the Baker Vein. Logging and sampling are underway for MN22-09 to MN22-14.”

MN22-06 was drilled to undercut the observed MN22-05 mineralization southwest of the MN22-04 intersections and the Baker Vein. Six intervals from MN22-02 and MN22-03, both east of the Baker Vein, and MN22-04 (directed northwest from the MN22-05 collar) previously reported intersections ranging from

12.8 g/t Au to 38.4 g/t Au (see Press Release of August 30, 2022). Leapfrog modelling of the current and historical drill and geological results is underway concurrent with the drilling program.

The 2022 Program is focused on identifying extensions to zones of known Midnight mineralization, areas with potential for targets within and peripheral to the OK and IXL historical mines, and deep targets below

the known footprint of mineralization (see the Company’s press releases dated September 24, 2020 and December 30, 2021 for more information on the foregoing). Figure 1 shows the distribution of the 2022 permitted and active drill collar locations relative to the 2006-2010 drilling. A total of 31 collar locations are fully permitted.

Table 1. 2022 Drilling Program – as of September 16, 2022.

Drill Hole	Easting	Northing	Azimuth (°) Inclination (°)		Elevation (m)	Total Depth (m)
22-01	438580	5435911	0	-90	960	352.6
22-02	438537	5435808	350	-50	943	81.7
22-03	438537	5435808	350	-75	943	197.5
22-04	438531	5435792	295	-68	942	185
22-05	438531	5435792	260	-50	942	113.4
22-06	438531	5435792	260	-70	942	139.8
22-07	438548	5435881	290	-50	962	242
22-08	438561	5435855	260	-75	956	276
22-09	438548	5435881	235	-50	962	242
22-10	438548	5435881	295	-50	962	158
22-11	438548	5435881	295	-70	962	178
22-12	438277	5435786	11	-50	1038	230.3
22-13	438443	5435828	220	-75	985	450
22-14	438580	5435911	180	-60	960	76
22-15	438291	5435798	11	-50	1051	36
22-16	438291	5435798	340	-50	1051	124

Figure 1. Location map of current and pending 2022, and post-2000 historical drilling on Midnight, IXL and OK mining claims and grants with mine portals and access trails. Current drilling at OK Upper Portal, IXL Lower Adit and northeast of Midnight 3100 and 3200 Portals.

Table 2. Summary of 2022 drill core intersections with gram-plus Au g/t values. New assays from MN22- 05 are listed above assays previously reported from MN22-02 to MN22-04. Samples greater than 10 g/t Au were finished using gravimetric analysis and/or screen metallics (highlighted).

Hole # From (m)	To (m)	Sample #	Au g/t*	Ag g/t
MN22-05 54.50	54.75	225662	4.59	1.2
55.65	57.15	225664	8.44	1.9
58.65	60.15	225666	15.7	2.9
60.15	61.65	225667	14.3	1.6
68.40	69.45	225674	33.7	3.5
69.95	70.25	225677	311**	94.9
70.25	71.30	225681	4.37	4
reported August 30, 2022
MN22-02 48.50	50.00	212571	36.1	3.7
65.00	66.50	212583	7.94	1.4
66.50	68.00	212584	17.9	9.6
68.00	69.50	212585	8.61	2.3
69.50	71.00	212587	22.6	31.2
MN22-03 39.10	41.50	212605	12.15	2.1
39.10	41.50	212606***	13.6	1.6
60.00	61.50	212621	20.7	6
MN22-04 54.05	55.25	225511	38.4	6.5

* Au GRA-21 FAA with gravimetric analysis for samples >10 g/t.

**SCR24-B screen metallics assay for sample with visible gold

***Preparation Duplicate, core loss est. 1 metre

The current area of drilling is focused on the targets from surface to 200 metres depth located to the southeast and east of the historical high-grade Baker Vein within and peripheral to the Listwanite (quartz- carbonate-serpentine) zone (Figure 3) which straddles the east-northeast trending fault contact between the OK ultramafic intrusion and the Jurassic age andesite-dominant sequence to the north. The second drill is now exploring deeper targets from 200 metres to more than 600 metres transecting the andesite-ultramafic contact and below the Baker Vein between the Midnight and IXL claims. The third drill is targeting high- grade polymetallic Au-Ag-Cu-Pb, andesite-hosted mineralization reported and observed from the OK Mine area drilling and is located between the OK Portal and the Upper Raise on the OK claim 50m east of the Cascade Highway. Gold mineralization in the Rossland area is reported to depths exceeding 750 metres and several faults transecting the area are interpreted to have significant vertical displacement. Fault repetition of the principal lithologies is indicated by the current deep drilling.

Geochemical Analysis, Quality Assurance and Quality Control

All core handling is conducted at the secure logging facility on Midnight. All samples are bagged and sealed with numbered security tags under the supervision of the QP and delivered to Overland Transport in Rossland for delivery to ALS Global (“ALS”) in North Vancouver, British Columbia for gold and multi- element analysis. ALS is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.

Metal values disclosed herein by WHY are reported principally from sawn (1/2) drill core samples over intervals of 30cm to 1.6 metres. Certain friable and broken intervals were processed using a rotary wedge

core splitter. The remaining half-core samples are cross stacked on site. Local chain of custody was monitored and maintained by the Project Geologist under the direction of the QP.

Assays from 682 core and QA/QC samples were reported currently for DDH MN22-01 through MN22-04 with partial results for MN22-05. Results are pending for an additional 382 samples for DDH MN22-06 through MN22-08.

Figure 2. Visible gold occurrence MN22-05 70.2m. Gold grains range from <1mm to 3mm as irregular particles disseminated or along microfractures mainly within quartz and serpentine in listwanized peridotite. Gold was noted with fine to coarse-grained brecciated pyrite, chalcopyrite with pyrrhotite and galena. Field of view approximately 15mm. Right – core sample and QAQC for visible gold interval 69.95-70.25m.

Figure 3. NQ2 diameter core showing section of MN22-05 66–72 metre interval with serpentinization and silicification of peridotite, multi-stage deformation and veining with quartz, pyrite, chalcopyrite, galena, chlorite and carbonate. Lower left – broken core in visible gold interval with light to very dark green serpentine from 69.95m. Right – intense alteration and textural styles in mineralized zone.

The samples were crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams pulverized to 85% passing 75 micrometres (-200 mesh). Pulps (50gram split) were submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA23). The retained pulps also were analyzed by Four Acid Digestion followed by Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi- element analyses (ME-ICP61). Over-limit Au and Ag samples were analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-GRA21 or Au-GRA22, Ag-GRA21). Screen metallics assays were conducted on select samples to quantify gold distribution in the screen oversize (SCR-24B) and duplicate 50-gram pulps of the screen undersize (Au-GRA22).

In-house quality control samples (blanks, standards, preparation duplicates) were inserted into the sample set using a protocol designed by the QP (Figure 2). ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results are provided with the Company sample certificates. The results of the internal and ALS control samples are reviewed by the Company’s QP and evaluated for acceptable tolerances prior to disclosure. All sample and pulp rejects will be stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.

The Company’s Qualified Person (as hereinafter defined) believes that the sampling documentation, analytical protocols and quantitative data will withstand scrutiny for inclusion.

Qualified Person

Greg Davison, MSc, PGeo, Senior Consulting Geologist to WHY Resources, is the Company’s internal qualified person ( the “Qualified Person”) for the Midnight Gold Project and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX Venture Exchange guidelines.

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.

Contact Information:

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

Frank Marasco Jr., President and Chief Executive Officer Telephone: (403) 660-3488 Facsimile: (403) 206-7159 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.

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 OF THIS RELEASE.

 

CALGARY, ALBERTA – AUGUST 30, 2022 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to announce the presence of visible native gold in several drill core intervals from two of the first five holes and to present highlights of its initial round of Au-Ag assay results from the 2022 6,500 metre exploration drilling program (the “2022 Program“). The 2022 Program is ongoing at the Company’s Midnight Gold claim (“Midnight“) located in the Rossland Gold Camp area, British Columbia. The Rossland Gold Camp historically produced over 2.76 million ounces of recovered gold and 3.52 million ounces of recovered silver.

The 2022 program is focused on identifying extensions to zones of known Midnight mineralization, areas with potential for targets within and peripheral to the OK and IXL historical mines, and deep targets below the known footprint of mineralization (see Press Releases of September 24, 2020 and December 30, 2021). Many promising drill targets were identified after review of the 1993-2010 drilling programs and historical workings. Figure 1 shows the distribution of the 2022 permitted and active drill collar locations relative to the 2006-2010 drilling. A total of 31 collar locations are fully permitted. Two drills currently are active on the seventh and eighth holes of the program with a third rig to be added in early September (Table 1).

The current area of drilling is focused on the targets from surface to 200 metres depth located to the southeast and east of the historical high-grade Baker Vein within and peripheral to the Listwanite (quartz- carbonate-serpentine) zone (Figure 2) which straddles the east-northeast trending fault contact between the OK ultramafic intrusion and the Jurassic age andesite-dominant sequence to the north. The second drill is exploring deeper targets from 200 metres to more than 600 metres below the Baker Vein. Gold mineralization in the Rossland area is reported to depths exceeding 750 metres and several faults transecting the area are interpreted to have significant vertical displacement.

“We are excited to identify visible gold (Figure 3) in high-grade assay intervals in MN22-02 and look forward to receipt of Au and multi-element assays pending for three additional holes, including an intersection in MN22-05 with visible gold which was submitted for Au by metallic screen protocols. Six intervals (Table 3) from MN22-02, MN22-03 and MN22-04 (5 samples measuring 1.5 metres, 1 sample at 1.2 metres) reported gold by gravimetric analysis ranging from 12.8 g/t Au to 38.4 g/t Au”, stated Greg Davison, P.Geo and QP for Midnight. “The presence of high-grade Au over standard sample intervals without discrete, narrow Au-quartz-ankerite vein control is significant for our exploration efforts and potential future development.”

Mr. Davison added, “Those intervals, occurring mainly in intensely listwanized ultramafic units, exhibited surrounding haloes of multiple gram-plus Au values and lower grade mineralization ranging from 3 to 18

metres with aggregate intersections to 36 metres (Table 2). Silver values typically reported <10 g/t Ag to a maximum of 31.2 g/t Ag. Of principal importance, the high-grade Au intersections are located spatially outside the 2009 10-metre drilling grid. Leapfrog modelling of the current and historical drill results is ongoing. We anticipate that the 2022 program will better define the gold mineralization leading to a mineral resource estimate pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects.”

Table 1. 2022 Drilling Program – as of August 27, 2022.

Drill Hole 22-01	Easting 438580	Northing Azimuth (°) 5435911 0		Inclination (°) -90	Elevatio 954
22-02	438537	5435808	350	-50	943
22-03	438537	5435808	350	-75
22-04	438531	5435792	295
22-05	438531	5435792	260
22-06	438531	5435792
22-07	438548	54
22-08	438

n (m) Total Dept

* in pr

Figure 1. Location map of current and pending 2022, and post-2000 historical drilling on Midnight, IXL, and OK mining claims and grants with mine portals and access trails.

Figure 2. NQ2 diameter core from MN22-02 49.5m showing intense serpentinization and silicification of ultramafic host. Multi-stage brittle deformation and veining with quartz, pyrite, chlorite, carbonate, and visible native gold.

Table 2. Summary of select drill core intersections with gram-plus Au g/t values. Samples greater than 10 g/t Au were finished using gravimetric analysis (highlighted).

Hole #	From (m)	To (m)	Sample #	Au g/t*	Ag g/t
MN22-02	48.50	50.00	212571	36.1	3.7
MN22-02	59.00	60.50	212578	1.98	<0.5
MN22-02	65.00	66.50	212583	7.94	1.4
MN22-02	66.50	68.00	212584	17.9	9.6
MN22-02	68.00	69.50	212585	8.61	2.3
MN22-02	69.50	71.00	212587	22.6	31.2
MN22-02	71.00	72.50	212588	2.88	1
MN22-03	39.10	41.50	212605	12.15	2.1
MN22-03	39.10	41.50	212606**	13.6	1.6
MN22-03	51.00	52.50	212614	2.56	0.6
MN22-03	55.50	57.00	212617	2.13	<0.5
MN22-03	60.00	61.50	212621	20.7	6
MN22-03	72.00	73.50	212631	5.77	7.2
MN22-04	16.76	18.02	212727	1.56	<0.5
MN22-04	18.02	19.28	212728	3.68	1.1
MN22-04	48.70	49.25	225505	1.68	1
MN22-04	54.05	55.25	225511	38.4	6.5
MN22-04	55.25	56.45	225512	2.18	<0.5
MN22-04	64.95	66.03	225523	1.63	1.9
MN22-04	88.95	90.20	225545	2.18	0.5
MN22-04	111.20	112.70	225565	1.295	<0.5

* Au GRA-21 FAA with gravimetric analysis for samples >10 g/t.

**Preparation Duplicate, core loss est. 1 metre.

 

Figure 3. Selection of visible gold occurrences identified in MN22-02 60.3m (3), MN22-05 70.2m (1). Gold grains range from <1mm to 3mm as irregular particles with very fine-grained particles disseminated or along microfractures within quartz, serpentine group and minor carbonate in variably listwanized dunite and peridotite. Spatial association of gold was noted locally with fine to coarse-grained brecciated pyrite with pyrrhotite and galena. Field of view is approximately 15mm.

Geochemical Analysis, Quality Assurance, and Quality Control

All core handling is conducted at the secure logging facility on Midnight. All samples are bagged and sealed with numbered security tags under the supervision of the QP and delivered to Overland Transport in Rossland for delivery to ALS Global (“ALS”) in North Vancouver, British Columbia for gold and multi- element analysis. Metal values disclosed herein by WHY are reported principally from sawn (1/2) drill core samples over intervals of 30cm to 1.6 metres. Certain friable and broken intervals were processed using a rotary wedge core splitter. The remaining half-core samples are cross stacked on site. Local chain of custody was monitored and maintained by the Project Geologist under the direction of the QP.

Assays from 428 core samples and 87 QA/QC samples were reported currently for DDH MN22-01 through MN22-03 with partial results for MN22-04.

ALS is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada.

The samples were crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams pulverized to 85% passing 75 micrometres (-200 mesh). Pulps (50gram split) were submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA23). The retained pulps also were analyzed by Four Acid Digestion followed by Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi- element analyses (ME-ICP61). Over-limit Au and Ag samples were analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-GRA21 or Au-GRA22, Ag-GRA21). Screen metallics assays were conducted on select samples using the SCR-24B method to quantify gold distribution in the screen oversize and duplicate pulps.

In-house quality control samples (blanks, standards, preparation duplicates) were inserted into the sample set using a protocol designed by the QP. ALS Global conducts its own internal QA/QC program of blanks, standards and duplicates, and the results are provided with the Company sample certificates. The results of the internal and ALS control samples are reviewed by the Company’s QP and evaluated for acceptable tolerances prior to disclosure. All sample and pulp rejects will be stored at ALS Global pending full review of the analytical data, and future selection of pulps for independent third-party check analyses, as requisite.

The Company’s Qualified Person believes that the sampling documentation, analytical protocols and quantitative data will withstand scrutiny for inclusion.

Qualified Person

Greg Davison, MSc, PGeo, Senior Consulting Geologist to WHY Resources, is the Company’s internal Qualified Person for the Midnight Gold Project and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines.

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.

Contact Information:

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

Frank Marasco Jr., President and Chief Executive Officer Telephone: (403) 660-3488 Facsimile: (403) 206-7159 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.

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 OF THIS RELEASE.

 

CALGARY, ALBERTA – February 15, 2022 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to announce that it has submitted its amended Joint Mines Act/Environmental Management Act Permit Application (the “Amended Application“) to the British Columbia Ministry of Mines (the “Ministry“) for the development and operation of its Record Ridge Industrial Mineral Mine Project near Rossland, British Columbia (the “Project“). The additional information provided to the Ministry in the Amended Application is in response to feedback received from the Ministry stemming from its review of the Company’s initial Joint Mines Act/Environmental Management Act Permit Application (the “Joint MA/EMA Application“) submitted to the Ministry on February 14, 2019.

The Company initially retained Greenwood Environmental Inc. and SRK Consulting (Canada) Inc. (together, the “Consultants“) in 2019 to be co-lead consultants in pursuit of an industrial mineral mine permit (the “Permit“) for the Project. The Consultants assisted the Company in the submission of the Joint MA/EMA Application. For applications such as the one submitted by the Company, the Ministry has established a multi-step application review process where major issues are identified upfront, followed by a detailed review. West High Yield has worked with the Consultants to address the Ministry’s information requests and to work towards the submission of the Amended Application. The Ministry will review the Amended Application and determine if it meets the requirements to commence the detailed technical review phase, or if the Company needs to provide additional information.

Frank Marasco Jr., President and CEO of West High Yield, stated: “The Company has been working diligently with the Ministry, Consultants and stakeholders to complete the permit process so that the Company is able to fulfill its commitments of mining and selling ore from the Project, and having adequate feedstock in place for its planned semi-commercial plant. We consider this milestone as a critical step for the commercialization of the Company in its efforts to facilitate sustainable job creation, generate cash flow and secure future markets for high purity magnesium and silica products that have the potential to be produced from the Record Ridge project.”

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.

Contact Information:

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

Frank Marasco Jr., President and Chief Executive Officer Telephone: (403) 660-3488 Facsimile: (403) 206-7159 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.

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 OF THIS RELEASE.

 

CALGARY, ALBERTA – February 14, 2022 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to announce that it has engaged Kingston Process Metallurgy Inc. (“KPM“) of Kingston, Ontario to conduct a Pre-Feasibility Study and complete a National Instrument 43-101 compliant report for the development of the Company’s semi-commercial and commercial production plants. The Company also announces the receipt of proceeds from the exercise of certain securities of the Company.

Pre-Feasibility Study

The Pre-Feasibility Study (“PFS“) was commissioned to reflect the advancements the Company made in 2021 to the development of its proprietary metallurgical process. The PFS will produce detailed design and economic evaluation of its semi-commercial demonstration plant, in addition to a high-level design and economic evaluation of its commercial plant. The Company expects the PFS to validate the economic and environmental benefits and high purity products derived from a no waste/low CO₂ emission extraction process. The demonstration plant is considered as the next step in the Company’s project commercialization at its Record Ridge magnesium deposit, and will be used as a process/product development facility to support the commercial operation of the project.

The PFS is supported in part by advisory services and research and development funding from the National Research Council of Canada Industrial Research Assistance Program (“NRC IRAP“). KPM will lead the PFS with support from Kon Chemical Solutions (“KON“) and Tenova, both in Austria, who designed and built an analogous plant in Europe. The PFS is expected to be completed by the end of May 2022.

“We are very pleased to launch the PFS with the overall objective of de-risking the Record Ridge magnesium project. Having reputable qualified professionals from KPM, Tenova, and KON validate the Company’s economics, and assessing the project potential will highly support our efforts in advancing the project and in strengthening our upside and ability to deliver long-term value to our shareholders in an environmentally sensitive and responsible manner” said Frank Marasco Jr., CEO and President of West High Yield. “The Company is also very pleased to receive support from NRC IRAP for this new project, in addition to the support we received for a previous project.”

Proceeds from Exercise of Warrants and Options

The Company further announces that announces that it has received proceeds totaling CAD$31,500 from the exercise of common share purchase warrants (the “Warrants“) and options (the “Options“).

One holder (the “Warrantholder“) of Warrants exercised an aggregate of 50,000 Warrants resulting in the issuance of 25,000 common shares of the Company (each a “Warrant Share“) and gross proceeds to the Company of CAD$7,500. Two (2) Warrants permitted the Warrantholder to acquire one (1) Warrant Share at an exercise price of CAD$0.30 per Warrant Share. The Warrants were issued in connection with a private placement financing of the Company which closed in February of 2021.

One holder (the “Optionholder“) of Options exercised an aggregate of 200,000 Options resulting in the issuance of 200,000 common shares of the Company (each, an “Option Share“) and gross proceeds to the Company of CAD$24,000. One (1) Option permitted the Optionholder to acquire one (1) Option Share at an exercise price of CAD$0.12 per Option Share. The Options were issued in connection with an option grant of the Company in September of 2020.

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 deposit using green processing techniques to minimize waste and CO₂ emissions.

Contact Information:

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

Frank Marasco Jr., President and Chief Executive Officer Telephone: (403) 660-3488 Facsimile: (403) 206-7159 Email: [email protected]

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.

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 OF THIS RELEASE.

 

CALGARY, ALBERTA – December 30, 2021 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to announce it has closed its previously announced brokered private placement offering for aggregate gross proceeds of up to CAD$2,499,951.72 (the “Offering“).

The Offering consisted of the issuance of 2,976,133 units (the “Units“) of the Company at a price of CAD$0.84 per Unit. Each Unit was comprised of: (i) one (1) common share of the Company (each, a “Common Share“) issued on a “flow-through basis” under the Income Tax Act (Canada) (the “Act“) for Canadian Exploration Expense (CEE) as defined in the Act; and (ii) one-half (1/2) of a Common Share purchase warrant (each, a “Warrant“). One (1) full Warrant, together with CAD$1.25, entitles each holder thereof to acquire one (1) additional Common Share of the Company for a period of eighteen (18) months from the closing date. The Warrants will not be listed on the TSX Venture Exchange (the “TSXV“).

For its role as broker under the Offering, GloRes Securities Inc. (the “Agent“) received: (i) a cash commission of $149,997.00, equal to 6.0% of the proceeds of the Offering raised from investors introduced to the Company by the Agent); and (ii) 178,567 broker warrants (the “Broker Warrants“), equal to 6.0% of the number of Units sold under the Offering to investors introduced to the Company by the Agent. The Broker Warrants were issued to and are exercisable by the Agent on the same terms and conditions as the Warrants.

The closing of the Offering is subject to certain closing conditions including but not limited to final acceptance and approval from the TSXV. All securities issued pursuant to the Offering are subject to the statutory hold period that expires four months and one day from their issuance.

Use of Proceeds from the Offering

As previously announced in its press release dates December 16, 2021, the proceeds from the Offering will be used by the Company to support its gold drilling program for 2022 on its Midnight property which has already been permitted, allocated as per regulatory guidelines. The Company plans to drill holes to a depth of at least 600 meters per hole at its Midnight property.

The Company, using analysis from its 2009 26-hole gold drill program (the “2009 Drill Program“), noted that except for two holes (MN09-19 and MN09-26) from the 2009 Drill Program, all holes intersected a series of quartz veins and gold bearing serpentinites with significant gold values. Most notably from the 2009 Drill Program were: (i) hole MN09-15, which returned weighted average of 40.1 g/tonne over a true width of 2.3 m including 198 g/tonne Au for a true width of 0.8 m near surface (13.9 m in drill depth); and (ii) hole MN09-24, which returned a weighted average of 25.16 g/tonne over a true width of 3.6 m including 73.23 g/tonne Au for a true width of 1.2 m. For more detailed information, please refer to the Company’s September 24, 2020, news release or its website.

Based on the results from the 2009 Drill Program, the Company plans to further define the gold mineralization on its Midnight property in order to allow the Company to proceed with a mineral resource estimate pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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 deposit using green processing techniques to minimize waste and CO₂ emissions.

Contact Information:

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

Frank Marasco Jr., President and Chief Executive Officer Telephone: (403) 660-3488 Facsimile: (403) 206-7159 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.

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 OF THIS RELEASE.

 

CALGARY, ALBERTA – December 16, 2021 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to announce a brokered private placement offering for aggregate gross proceeds of up to CAD$2,500,000 (the “Offering“). GloRes Securities Inc. (the “Agent“) will act as Agent for the Offering.

The Offering shall consist of the issuance of up to 2,976,190 units (the “Units“) of the Company at a price of CAD$0.84 per Unit. Each Unit shall be comprised of: (i) one (1) common share of the Company (each, a “Common Share“) issued on a “flow-through basis” under the Income Tax Act (Canada) (the “Act“) for Canadian Exploration Expense (CEE) as defined in the Act; and (ii) one-half (1/2) of a Common Share purchase warrant (each, a “Warrant“). One (1) full Warrant, together with CAD$1.25, will entitle the holder thereof to acquire one (1) additional Common Share of the Company for a period of eighteen (18) months from the date of issuance. The Warrants will not be listed on the TSX Venture Exchange (the “TSXV“).

For its role as broker under the Offering, Agent will receive: (i) a cash commission equal to 6.0% of the proceeds of the Offering raised from investors introduced to the Company by the Agent; and (ii) broker warrants (the “Broker Warrants“) equal to 6.0% of the number of Units sold under the Offering to investors introduced to the Company by the Agent. The Broker Warrants will be issued to and exercisable by the Agent on the same terms and conditions as the Warrants.

The Offering is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals, including the acceptance and approval of the TSXV. All securities issued pursuant to the Offering are subject to the statutory hold period that expires four months and one day from their issuance.

Use of Proceeds from the Offering

The proceeds from the Offering will be used by the Company to support its gold drilling program for 2022 on its Midnight property which has already been permitted, allocated as per regulatory guidelines. The Company plans to drill holes to a depth of at least 600 meters per hole at its Midnight property.

The Company, using analysis from its 2009 26-hole gold drill program (the “2009 Drill Program“), noted that except for two holes (MN09-19 and MN09-26) from the 2009 Drill Program, all holes intersected a series of quartz veins and gold bearing serpentinites with significant gold values. Most notably from the 2009 Drill Program were: (i) hole MN09-15, which returned weighted average of 40.1 g/tonne over a true width of 2.3 m including 198 g/tonne Au for a true width of 0.8 m near surface (13.9 m in drill depth); and (ii) hole MN09-24, which returned a weighted average of 25.16 g/tonne over a true width of 3.6 m including 73.23 g/tonne Au for a true width of 1.2 m. For more detailed information, please refer to the Company’s September 24, 2020, news release or its website.

Based on the results from the 2009 Drill Program, the Company plans to further define the gold mineralization on its Midnight property in order to allow the Company to proceed with a mineral resource estimate pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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 deposit using green processing techniques to minimize waste and CO2 emissions.

Contact Information:

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

Frank Marasco Jr., President and Chief Executive Officer Telephone: (403) 660-3488 Facsimile: (403) 206-7159 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.

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 OF THIS RELEASE.

 

CALGARY, ALBERTA – December 15, 2021 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to announce it has entered into a definitive agreement (the “Investment Agreement”) for a drawdown equity financing facility (the “Facility“) of up to CAD$12,000,000 with Alumina Partners (Ontario) Ltd. (“Alumina“), an affiliate of New York-based private equity firm Alumina Partners LLC.

The Company intends to use the funds under the Facility to move forward with its pre-feasibility study stage-3 including the detailed design and economic evaluation of its demonstration plant, and to make preparations for mining of the magnesium ore in 2022 at its Record Ridge magnesium deposit in Rossland, British Columbia, Canada.

“We are pleased to have Alumina as a strategic investor who understands the magnesium segment and its importance to the multitude of manufacturing verticals objectives targeting reduced CO2 emissions while supporting the quest to decarbonize the globe. The relationship with Alumina provides a strong financial backing that will enable West High Yield to move to the next stage of executing our business plan and strategies,” said Frank Marasco Jr., President, and CEO of the Company.

“We are thrilled to be investing in West High Yield at this critical, strategic inflection point for magnesium”, said Adi Nahmani, Alumina’s Managing Member. “As much as the transition to aluminum revolutionized the structural engineering world of aircraft and defense contracting in the 20^th century, the applications for widespread deployment of magnesium in 21^st century engineering promises even greater performance gains. From aviation to automobiles, from aerospace to defense projects, to subtle metamaterials engineering, extruded foams and construction cladding… Magnesium offers extraordinary performance improvements in key areas that matter more today than ever before. On top of that, the prospective resource that West High Yield is working to quantify and more precisely delineate is located in the heart of the West, far from any conflict zones or confrontations with other competing powers on the world stage. The promise of a substantial proven reserve of this key material in a safe, friendly and infrastructurally sound jurisdiction is extremely attractive to us. We look forward very much to watching management execute against plan in the months and years to come.”

The Investment Agreement provides the Company with a financing facility over a period of 24 months (the “Term“) during which the Company can draw down equity private placement tranches over the Term, with each tranche being in amount of up to CAD$500,000. Each tranche will be composed of units (the “Units“) with each Unit consisting of one (1) common share of the Company (each, a “Share” and collectively the “Shares“) and one (1) Share purchase warrant (each, a “Warrant” and collectively the “Warrants“) at discounts between 15% and 25% of the market price of the Shares (subject to the requirements of the TSX

Venture Exchange (the “TSXV“) om Discounted Market Price) on the day the Company reserves the Unit price with the TSXV. The exercise price of the Warrants will be at a 25% premium over the market price of the Shares as determined in the Form 4A filed for that tranche. Each drawdown under the Investment Agreement is subject to approval of the TSXV. No finder’s fees will be paid in connection with a financing under the Investment Agreement.

On same date of signing the Investment Agreement, the Company completed an initial tranche closing (the “Initial Tranche“) under the Facility whereunder the Company issued 724,637 Units to Alumina at a price of CAD$0.69 per Unit for gross proceeds of CAD$500,000. The subscription price of the Units is based on the maximum allowable discounted closing price of the Shares on the TSXV as reflected in the Form 4A filed with the TSXV by the Company on December 1, 2021. Each Warrant in this Initial Tranche is exercisable into one additional Share at a price of CAD$1.06 for 36 months from the date of closing. The closing of the Initial Tranche is subject to the approval of the TSXV. All securities issued pursuant to the Initial Tranche are subject to the statutory hold period that expires four months and one day from their issuance.

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 deposit using green processing techniques to minimize waste and CO2 emissions.

Contact Information:

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

Frank Marasco, President and Chief Executive Officer Telephone: (403) 660-3488 Facsimile: (403) 206-7159 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.

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 OF THIS RELEASE.

 

CALGARY, ALBERTA – December 7 2021 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to announce that it has signed a letter of intent (the “LOI“) with APG Galaxy Trade and Technology, LLC, a U.S.-based company focused on the acquisition and production of magnesium and other precious metals (“Galaxy“), for the purchase and sale of magnesium serpentine ore (the “Ore“) produced by West High Yield at its Record Ridge magnesium deposit (the “Deposit”) located near Rossland, British Columbia, Canada (the “Transaction“).

The LOI is non-binding as the parties work towards the signing of a binding definitive agreement (the “Definitive Agreement“) in respect of the Transaction. The LOI contemplates Galaxy purchasing a minimum of 200,000 metric tonnes (“Mts“) of the Ore per annum during the term of the Definitive Agreement. The purchase price will be USD$500 per Mt of the Ore during the first three (3) year period of the Definitive Agreement, and shall be subject to adjustment for the remaining term of the Definitive Agreement based on factors including but not limited to production costs and the Consumer Price Index of Canada.

The Transaction is subject to, among other items, standard conditions precedent in favour of each of Galaxy and the Company, individually, including the receipt by the Company of all necessary government and regulatory approvals and permits to extract the Ore from the Deposit. The Company has agreed to an exclusivity period with Galaxy for the sale of the minimum quantity of the Ore until all of its conditions have been waived or satisfied in full, during which it will negotiate exclusively with Galaxy with a view to settling the Definitive Agreement.

The Company will issue a news release updating this information and providing more detail on the parties and finalized terms once the Definitive Agreement has been entered into

Frank Marasco Jr., President and CEO of West High Yield states: “The Company has been looking for interested and capable partners to purchase the initial mined inventory of our critical mineral rich ore and generate positive cash flow for the Company. We appreciate Galaxy’s magnesium experience and customer demand, and we are pleased to have reached this milestone in advancing our negotiations with Galaxy towards a comprehensive definitive agreement. I consider this LOI as a critical step in building a strategic collaboration with Galaxy for the objective of securing a future market for a range of magnesium products that could be produced from the Record Ridge project.”

Michael North, Board Chairman and CEO of Galaxy, states: “The magnesium serpentine ore controlled by West High Yield in British Columbia is one of the largest and richest verified deposits of its type in the world. Today, Galaxy is pleased to take the first step in a challenging process, intended to deliver this important natural resource from Canada to world markets and meet the requiements of the automotive, aerospace, energy, construction, nutritional, consumer products and pharmaceutical fields. Many industries need lighter, greener, more efficient materials right away, in order to meet climate change and carbon reduction goals. With this Letter of Intent, Galaxy initiates a demanding series of research, engineering and business development strategies that, if successful, may facilitate an efficient supply chain of cost-effective pure magnesium and alloy products for years to come. We look forward to further collaboration between Galaxy and West High Yield.”

About APG Galaxy Trade and Technology, LLC

Galaxy is a direct source of magnesium, from mine to manufacturer, evolutionizing entire industries with light, strong, versatile, durable and energy-efficient magnesium. An international company based in the United States, Galaxy is streamlining global supply chains, offering both standard and custom alloys for unparalleled performance. Galaxy is helping to move the global economy from heavy metals to light metals of the future: clean, green, less carbon-intensive, bending the curve on climate change.

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 deposit using green processing techniques to minimize waste and CO₂ emissions.

Contact Information:

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

Frank Marasco Jr., President and Chief Executive Officer Telephone: (403) 660-3488 Facsimile: (403) 206-7159 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.

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 OF THIS RELEASE.

 

CALGARY, ALBERTA – May 18, 2021 West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to provide an update on the status of its permit application at its Record Ridge magnesium deposit located at Rossland, British Columbia (“Record Ridge” or the “Project“) and on the progress and development of its proprietary metallurgical process to “Stage-2 PFS” by successfully conducting additional laboratory test work (the “Testing Project“) at the facility (the “KPM Facility“) owned and operated by Kingston Process Metallurgy Inc. (“KPM“). The Testing Project has been supported in part by advisory services and research and development funding from the National Research Council of Canada Industrial Research Assistance Program (the “NRC IRAP“).

Record Ridge Mining Permit

The Company initially retained Greenwood Environmental Inc. and SRK Consulting (Canada) Inc. (together, the “Consultants“) in 2019 to be co-lead consultants in pursuit of the industrial mineral mine permit (the “Permit“) at Record Ridge. The Consultants assisted the Company in the submission of its Permit to the (then) British Columbia Ministry of Mines (the “Ministry“) in February 2019. For Permits such as the one submitted by the Company, the Ministry has established a multi-step permit review process where major issues are identified upfront, followed by a detailed review. In 2019, the Consultants successfully completed a baseline and environmental study (the “Study“) in response to a request from the Ministry. The results of the Study showed no major baseline or environmental issues at Record Ridge, thus satisfying the Ministry’s initial permit review threshold. Subsequent review steps by the Ministry will focus on the details of the Project’s environmental monitoring and management.

Further work on securing the Permit was put on hold by the Company in 2020 due to financial challenges attributed mainly to the COVID-19 pandemic. After having recently secured the necessary financing to cover the remainder of the Permit costs, West High Yield recently re-engaged the Consultants to resume their work on the Permit application process. The Company is currently in the third and final review stage mandated by the Ministry, such stage expected to require six to nine months to be completed and to obtain Ministry approval.

Metallurgical Process Development

Previous work in respect of the Testing Project was done in 2019 by KPM resulting in the completed “Stage- 1 PFS”, and demonstrated that the ore from Record Ridge can be successfully leached using proprietary hydrochloric acid (“HCl“) leaching and that the resultant magnesium chloride (MgCl₂) solution can be purified using standard hydrometallurgical techniques to >99 wt% MgCl₂. It was concluded that this solution would be suitable to produce saleable high purity (>99%) magnesium oxide (“MgO“) and magnesium hydroxide (“Mg(OH)₂“)products.

The Company re-engaged KPM in January 2021 to conduct “Stage-2 PFS” with the objective of continuing process development on the pathway to commercialization by performing a set of laboratory scale

experimental test work to validate the designed flowsheet for production of high purity MgO and Mg(OH)₂ products and saleable by-products including nickel chloride (“NiCl₂“), nickel oxide (“NiO“), iron oxide (“Fe2O₃“) and silica (“SiO₂“). The “Stage-2 PFS” phase of the Testing Project was supported in part by advisory services and research and development funding from the NRC IRAP.

On April 28, 2021, KPM reported successful test work results that validated the chemistry and process conditions proposed to produce high purity MgO main product, and nickel oxide, iron oxide and silica by- products. A technical grade >98wt% pure MgO as well as high grade, >99% MgO were achieved by the proposed ‘static’ roasting-washing-calcination process. Final results are expected shortly for the spray roasting process that was successfully tested.

High purity SiO₂ was produced as by-product using chemical treatment of the initial leach residue. Fe solid residue was obtained in the Fe/Ni recovery section using pyrohydrolysis process from the solid filter cake obtained from magnesium chloride purification stream. This was further calcined to produce pure Fe₂O₃ by- product. Intermediate iron hydroxide FeO(OH) was obtained, which could also prove to be a valuable by- product. Finally, nickel chloride and oxide were also obtained in the subsequent tests. A preliminary commercial scale flowsheet and mass and energy balance were prepared based on the test results.

KPM recommended that the project proceed to the next stage that would include further test-work to study and optimize the various nickel, silica and iron by-products, followed by a techno-economic evaluation and preliminary engineering design and costing work as part of the prefeasibility study required ahead of a pilot demonstration of the process.

All of the aforementioned process work to date directionally demonstrates that the proprietary process has the potential to extract the highest purity products, with the highest yields, for the lowest comparable cost, with minimal environmental impact.

Statement from the Company

“We are very optimistic and excited with the progress that the Company is making in advancing the Record Ridge deposit through the pursuit of the mining permitting process, which has reached its final stage, and through further advancing our proprietary process development, having recently successfully finished Stage- 2 PFS. We are also extremely pleased to have support from NRC IRAP for this project. As the Company advances to these critical stages of the Project, it is becoming increasingly aware of the value of the many years of continuous geological, environmental and processing works that have been completed at Record Ridge. West High Yield is very thankful for the dedication of its team and its partners to advance this important work in a current uncertain environment. The Company’s recent financings put it in a strong position to continue to move Record Ridge forward toward finishing critical de-risking milestones”, said Frank Marasco Jr., West High Yield’s Chief Executive Officer and President.

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 deposit using green processing techniques to minimize waste and CO₂ emissions.

Contact Information:

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

Frank Marasco, President and Chief Executive Officer Telephone: (403) 660-3488 Facsimile: (403) 206-7159 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.

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 OF THIS RELEASE.

 

CALGARY, ALBERTA – April 29, 2021 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) announces that it has arranged for a loan to be provided by Big Mountain Development Corp. Ltd. (the “Lender“), a related party of the Company, in the principal amount of CAD$750,000 (the “Loan“). The Loan will have a term of 12 months and will bear interest at the rate of 10% per annum. The Loan will be secured by the previously executed first charge general security agreement on all of the present and after-acquired property of the Company granted in favour of the Lender.

The Company further announces the closing (the “Closing“) of its previously announced private placement (the “Private Placement“) for 1,325,000 units (the “Units“) at a price of CAD$0.20 per Unit for gross proceeds of CAD$265,000.00. Each Unit is comprised of one common share (the “Common Shares“) and one Common Share purchase warrant (the “Warrants“). The Warrants expire 12 months from the date of issue and two (2) Warrants together with CAD$0.30 will entitle the holder to acquire one (1) additional Common Share of the Company. No finder’s fee was paid to any person in relation to the Private Placement. The Units issued pursuant to the Private Placement are subject to resale restrictions, including a hold period of four months and one day pursuant to applicable Canadian securities laws.

The proceeds of the Loan and the Private Placement will be used primarily to fund the completion of the Company’s application to the British Columbia Department of Mines for the mining permit for the Record Ridge magnesium/nickel mine located in Rossland, British Columbia and for general working capital.

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.

Contact Information:

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

Frank Marasco, President and Chief Executive Officer Telephone: (403) 660-3488 Facsimile: (403) 206-7159 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.

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 OF THIS RELEASE.