Category: News Release

CALGARY, ALBERTA – November 28, 2017. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) announces that it is proposing to complete a non-brokered private placement of up to $850,000 of units (“Units“). Each Unit shall be issued at a price of $0.35 and shall consist of one common share in the capital of the Company (a “Common Share“) and one-third of one common share purchase warrant (a “Warrant“). Each whole Warrant shall entitle the holder to purchase one additional Common Share at an exercise price of $0.55 for a period of one year from the date of issuance of the Warrant. The proposed private placement is subject to receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.

The net proceeds of the private placement will be used for the continuation of the environmental base line study, environmental assessment study and mine plan and permit application and Industrial Quarry Permit application for its Record Ridge deposit near Rossland, British Columbia and general corporate purposes. The Industrial Quarry Permit sought under the Mines Act (British Columbia) will allow for the extraction and sale of up to 249,999 tonnes per annum of industrial rock. The Company is also in the process of developing potential customers with processing facilities and the ability to process the industrial rock. It is anticipated that industrial rock sales will provide cash flows from operations while continued mine plan and permit application efforts are being made.

The Company also announces the release of its financial results and Management Discussion and Analysis for the nine months ended September 30, 2017 which 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.

For further information please contact:
Frank Marasco President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488 Facsimile: (403) 206-7159 Email: [email protected]	Dwayne Vinck Chief Financial Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 257-2637 Facsimile: (403) 206-7159 Email: [email protected]

Reader Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the terms of the proposed non-brokered private placement of Units, the proposed use of proceeds and the anticipated sales of industrial rock. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

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 press release.

 

CALGARY, Alberta, Nov. 07, 2017 — As previously announced, on October 5, 2017, West High Yield (W.H.Y.) Resources Ltd. (the “Company”) (TSXV:WHY) signed a definitive arm’s length purchase and sale agreement (the “Agreement”) to sell 100% of its right, title and interest in its Record Ridge South, Midnight and O.K. mineral properties (the “Assets”) to Gryphon Enterprises, LLC (the “Purchaser”), a limited liability company based in Maryland, USA, for a purchase price of US$750 million in cash.

Under Article 2.2.3 of the Agreement, the Purchaser was required to deliver a non-refundable Deposit of US$500,000 (“Deposit”) on or before November 4, 2017, failing which the Company had the right to terminate the Agreement if the deposit was not paid. As November 4, 2017 did not fall on a “Business Day”, the deadline to deliver the Deposit extended to midnight on November 6, 2017.

The Purchaser failed to pay the Deposit on or before midnight on November 6, 2017. Following discussions with the Purchaser, on November 7, 2017 the Board of Directors of the Company decided to terminate the Agreement by providing written notice of termination to the Purchaser in accordance with the terms of the Agreement.

Although the Company is disappointed that the Agreement was terminated, the Company continues to believe, based on testing done to date, that the Assets have significant value. The Company intends to continue its ongoing efforts to secure Mining and Rock Quarry Permits for the property.

Trading in the Company’s shares has been halted since October 6, 2017. The Company is in discussions regarding when its shares will resume trading.

About West High Yield

West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties.

For further information please contact:

Frank Marasco

President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488

Facsimile: (403) 206-7159

Email: [email protected]

Dwayne Vinck

Chief Financial Officer

West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 257-2637

Facsimile: (403) 206-7159 Email: [email protected]

Reader Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the Company’s anticipated plans to continue its ongoing efforts to secure Mining and Rock Quarry Permits for the property and the resumption of trading in the Company’s shares. The forward- looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ

materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

The TSXV has neither approved nor disapproved the contents of this press release. 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 press release.

 

CALGARY, ALBERTA – November 3, 2017. On October 5, 2017, West High Yield (W.H.Y.) Resources Ltd. (the “Company”) announced that it had signed a definitive arm’s length purchase and sale agreement (the “Agreement”) to sell 100% of its right, title and interest in its Record Ridge South, Midnight and O.K. mineral properties (the “Assets”) to Gryphon Enterprises, LLC (the “Purchaser”), a limited liability company based in Maryland, USA, for a purchase price of US$750 million in cash. The Agreement provides that the Assets will be transferred by the Company to its wholly-owned subsidiary, and at closing all of the shares of the subsidiary will be transferred by the Company to the Purchaser. The Agreement is available for review under the Company’s profile on SEDAR at www.sedar.com.

This press release provides further details concerning the transaction contemplated by the Agreement.

Take-or-Pay Agreements

As stated in the Company’s October 5, 2017 press release, the proposed transaction is subject to a number of conditions, including the Company having entered into before the closing of the transaction investment grade take-or-pay agreements in the form and on terms and conditions acceptable to the Purchaser, acting reasonably. Investors are cautioned that none of the terms of the take-or-pay agreements have been determined or agreed to by the Company and the Purchaser, including terms relating to product volumes, quality metrics, dates, dollar values, pricing requirements or purchaser credit requirements.

In addition, the Company and the Purchaser have not yet determined how the resulting contractual obligations and future commitments with respect to any take-or-pay agreements will be settled between the Company and Purchaser, or how any liabilities will be settled if the Assets fail to produce sufficient quantities and grade of materials in the time required to satisfy any commitments under any take-or-pay agreements that may be negotiated, which may result in the possibility of ongoing liability to the Company. To date, no take-or-pay agreements in a form acceptable to the Purchaser have been negotiated. If such agreements are not negotiated, the transaction contemplated in the Agreement will not proceed.

The Purchaser Has Not Obtained Financing

The Purchaser is a private limited liability company, formed under the laws of Oklahoma, U.S.A., for the purpose of acquiring the Assets. Stephen D. Cummins presently controls the Purchaser and serves as Managing Member of the Purchaser. Mr. Cummins has over 33 years of business experience and is known to principals of the Company.

Mr. Cummins has engaged a company (the “Arranger”) for the purposes of completing the proposed transaction, as well as development of the mining and processing operations moving forward. In connection with the transaction, the Arranger executed a non-binding financing proposal letter, which financing would be used to satisfy the entire purchase price to be paid by the Purchaser under the Agreement and subsequent engineering, procurement, and construction of improvements of the Assets.

The Arranger analyzes and sources funding, but does not itself finance transactions, and is not a major bank/investment firm, or registered vehicle and has no firm commitments or arrangements to fund the transaction. The Purchaser has not obtained a commitment to finance the acquisition of the Assets from the Arranger or from any other source. There is substantial risk that the Purchaser may not be able to obtain financing necessary to complete the proposed transaction. The Purchaser does not have the financial resources to complete the proposed transaction contemplated in the Agreement without third party funding.

If any of the Arranger’s and/or lender’s conditions to financing cannot be satisfied, or if the financing cannot be otherwise obtained, the proposed transaction may not be completed in accordance with the terms of the Agreement, or at all.

As the Purchaser was formed for the purpose of acquiring the Assets, except for any deposit that may be paid by the Purchaser, the Company will have no practical recourse against the Purchaser in the event that the conditions in the Agreement are satisfied by the Company and the Purchaser is unable to complete the proposed transaction.

Other Conditions

The Agreement remains subject to all shareholder, securities and regulatory approvals and acceptances (as required) and all third party consents (as required) including, without limitation, the approval of the TSX Venture Exchange.

The closing of the purchase and sale of the Assets is expected to occur on or before the date that is 90 days from the date that the last of the financing conditions is completed to the Arranger’s satisfaction. The Company has the right to terminate the Agreement if closing does not occur on or before March 31, 2018.

Pursuant to Article 2.2.3 of the Agreement, the Purchaser is required to deliver a non-refundable deposit of US$500,000 on or before November 4, 2017. The Company has the right to terminate the Agreement if the deposit is not paid on or by November 4, 2017. As of issuing this press release, the Company has not received the deposit.

As a result of the significant conditions and contingencies described above, there can be no assurances whatsoever that the transaction contemplated in the Agreement will be completed on the terms contemplated in the Agreement or at all. If the transaction contemplated by the Agreement is not completed, the Company intends to continue its ongoing efforts to secure Mining and Rock Quarry Permits. If the transaction is completed, it is expected that the Company will

distribute the vast majority of the proceeds from the purchase and sale to the Company’s shareholders, while at the same time exploring other business opportunities.

Other Matters

In Article 7.7 of the Agreement, “Baker & McKenzie LLP”, is referred to as “Purchaser’s Counsel”. The Purchaser advised the Company that Baker McKenzie LLP was identified in the Agreement in error, that it has not engaged Baker McKenzie LLP as legal counsel for the transaction and that Baker McKenzie LLP has no relationship with the Purchaser. The Purchaser has received advice in connection with the proposed transaction from Thomas J. Kenan, who is based in Houston, Texas.

While the Company believes based on testing done to date that the Assets contain a significant supply of magnesium, the statement made by the President and Chief Executive Officer of the Company on October 5, 2017 that “if you calculate the three sections of land, there is about 3,000 years of supply of magnesium can be extracted from the property” should not be relied upon.

No finder’s fee is payable in connection with the proposed transaction.

Trading in the Company’s shares was halted on October 6, 2017. After trading was halted, the Company has responded to regulatory inquiries concerning the proposed transaction and the Company. The Company intends to cooperate in connection with such inquiries.

The Company is in discussions regarding when its shares will resume trading.

About West High Yield

West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties.

For further information please contact:

Frank Marasco

President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488

Facsimile: (403) 206-7159 Email: [email protected]

Dwayne Vinck

Chief Financial Officer

West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 257-2637 Facsimile: (403) 206-7159 Email: [email protected]

Reader Advisory

This is high risk transaction. The completion of the transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.

The TSX Venture Exchange Inc. has in no way passed on the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Investors are cautioned that, except as disclosed in the information circular to be prepared in connection with the Company’s annual and special meeting or as otherwise disclosed in the Agreement, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the satisfaction of the conditions to obtain the financing necessary to complete the proposed transaction, the satisfaction of other conditions related to the transaction (including receipt of TSX Venture Exchange approval), the anticipated closing date of the transaction, the Company’s anticipated plans whether or not the transaction is completed and the resumption of trading in the Company’s shares. 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 failure of the Purchaser to obtain the necessary financing to complete the transaction; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other

than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. 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 press release.

 

CALGARY, ALBERTA – October 5, 2017. West High Yield (W.H.Y.) Resources Ltd. (the “Company“) is pleased to announce that it has signed a definitive arm’s length purchase and sale agreement (the “Agreement“) to sell 100% of its right, title and interest in its Record Ridge South, Midnight, and O.K. mineral properties (the “Assets“) to Gryphon Enterprises, LLC (the “Purchaser“), a company based in Maryland, USA, for a purchase price of US$750 million.

The Agreement includes representations and warranties to each party customary in a transaction of this nature and is subject to a number of conditions including, without limitation, the following: (i) on or before the closing date, the Company shall have entered into a take and pay agreement(s) in the form and on terms and conditions acceptable to the Purchaser, acting reasonably; and (ii) all director, shareholder, securities and regulatory approvals and acceptances (as required) and all third party consents (as required) having been obtained including, without limitation, the approval of the TSX Venture Exchange. In addition, the Purchaser has agreed to provide the Company with the sum of US$500,000 within 30 days from the date of execution of the Agreement as a good faith, non-refundable deposit (the “Deposit“). The Deposit shall be credited towards the full payment of the purchase price and, in the interim, shall be used by the Seller to reimburse the Seller for any and all legal fees and other reasonable expenses incurred by the Seller in respect of the transactions contemplated herein. If the transaction is not completed for any reason whatsoever, the Deposit shall be retained by the Seller as a reasonable and genuine estimate of all damages that will have been suffered by the Seller as a result of Closing not occurring due to the Purchaser’s default.

The Company is expected to call an annual and special meeting of its shareholders in December 2017 where the shareholders will be asked to approve the proposed purchase and sale of the Assets and any other matters related to the proposed transaction. The information circular to be mailed to the shareholders will contain more detailed information in respect of the proposed transaction. A full copy of the Agreement will be available for review on the Company’s website at www.whyresources.com and on its SEDAR profile at www.sedar.com.

The closing of the purchase and sale of the Assets is expected to occur on or before the date that is 90 days from the date a take and pay agreement(s) is entered into by the Company in the form and on terms and conditions acceptable to the Purchaser. After completion of the transaction, it is expected that the Company will distribute the vast majority of the proceeds from the purchase and sale to the Company’s shareholders while at the same time exploring other business opportunities.

Frank Marasco, President and Chief Executive Officer of the Company, stated “The proposed transaction is great for our shareholders who have been supportive and patient in this very long and arduous process. As we move forward and recognize how important our environment is to our children and grandchildren, we are pleased to see the development of the “greenest element” in the world. Magnesium will support many aspects of our lives including, medical, agriculture, batteries, construction, auto and aero industry and many more applications. Thank you for all your support.”

About West High Yield

West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties.

For further information please contact:
Frank Marasco President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488 Facsimile: (403) 206-7159 Email: [email protected]	Dwayne Vinck Chief Financial Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 257-2637 Facsimile: (403) 206-7159 Email: [email protected]

Reader Advisory

Completion of the transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all. The TSX Venture Exchange Inc. has in no way passed on the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Investors are cautioned that, except as disclosed in the information circular to be prepared in connection with the Company’s annual and special meeting or as otherwise disclosed in the Agreement, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the completion of the transaction (including receipt of TSX Venture Exchange approval), the anticipated date of the Company’s shareholder meeting and the anticipated closing date of the transaction. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable

terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. 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 press release.

 

CALGARY, ALBERTA – September 28, 2017. West High Yield (W.H.Y.) Resources Ltd. (the “Company”) announces that it has completed the first tranche of its previously announced non-brokered private placement of units (each, a “Unit”) on September 1, 2017. The Company issued an aggregate of 1,893,333 Units at a price of $0.30 per Unit for gross proceeds of $568,000. Each Unit consists of one common share in the capital of the Company (a “Common Share”) and one-third of one common share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.45 for a period of one year from the date of issuance of the Warrant. All of the securities issued under the private placement are subject to a four month resale restriction. The private placement is subject to receipt of all necessary regulatory approvals including final approval of the TSX Venture Exchange. It is expected that the balance of the private placement will be completed within the next few weeks.

The net proceeds of the private placement will be used for general corporate purposes and for the continuation of the environmental base line study, environmental assessment study, mine plan and permit application and industrial rock quarry permit application.

About West High Yield

West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties.

For further information please contact:
Frank Marasco President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488 Facsimile: (403) 206-7159 Email: [email protected]	Dwayne Vinck Chief Financial Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 257-2637 Facsimile: (403) 206-7159 Email: [email protected]

Reader Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the proposed timing for the completion of the private placement and the proposed use of proceeds of the private placement. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

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 press release.

 

CALGARY, ALBERTA – September 1, 2017. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) announces that it is proposing to complete a non- brokered private placement of up to $750,000 of units (“Units“). Each Unit shall be issued at a price of $0.30 and shall consist of one common share in the capital of the Company (a “Common Share“) and one-third of one common share purchase warrant (a “Warrant“). Each whole Warrant shall entitle the holder to purchase one additional Common Share at an exercise price of

$0.45 for a period of one year from the date of issuance of the Warrant. The proposed private placement is subject to receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.

The net proceeds of the private placement will be used for general corporate purposes and for the continuation of the environmental base line study, environmental assessment study and mine plan and permit application.

The Company also announces that it has commissioned work on an Industrial Quarry Permit application for its Ivanhoe Ridge deposit near Rossland, British Columbia. The Industrial Quarry Permit sought under the Mines Act (British Columbia) will allow for the extraction and sale of up to 249,999 tonnes per annum of industrial rock. The Company is also in the process of developing potential customers with processing facilities and the ability to process the industrial rock. It is anticipated that industrial rock sales will provide cash flows from operations while continued mine plan and permit application efforts are being made. The Industrial Quarry Permit application process will be led by Greenwood Environmental of Vancouver, British Columbia and SRK Consulting. The proposed rock quarry is not subject to the Environmental Assessment Act (British Columbia) or the Canadian Environmental Assessment Act. The Company will engage with the BC Ministry of Energy Mines and Petroleum Resources on information requirements and timelines.

About West High Yield

West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties.

For further information please contact:

Frank Marasco

President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488

Facsimile: (403) 206-7159

Email: [email protected]

Dwayne Vinck

Chief Financial Officer

West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 257-2637

Facsimile: (403) 206-7159 Email: [email protected]

Reader Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the terms of the proposed non-brokered private placement of Units, the proposed use of proceeds and the anticipated sales of industrial rock. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

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 press release.

 

CALGARY, ALBERTA – July 31, 2017. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) is pleased to present a brief overview of a micro-plant test results report dated July 19, 2017 (the “Drinkard Report”) prepared by Drinkard Metalox, Inc. (“Drinkard”) of Charlotte, North Carolina. The Drinkard Report details results using a proprietary, nitric acid leach extraction process on magnesium resource rock from the Company’s Record Ridge South deposit. The products of the process would include magnesium nitrate, nickel hydroxide and high grade magnesium oxide.

Summary

The novel, nitric acid metallurgical process tested was developed/designed by Drinkard with test work conducted in Drinkard’s micro-plant test facilities in North Carolina. Of particular importance are the following results: Mg recoveries ≥98.5%; 98-99% recycling of nitric acid leachate; and development of a simplified process flowsheet that can produce either standalone purified magnesium nitrate or a 97% MgO product, with separate nickel and iron products. An anticipated benefit of this novel extraction process will be to potentially lower the cut-off grade for mining, anticipated to increase mineral resources.

While additional pilot plant testing is required, these results indicate a far simpler and more cost effective magnesium processing plant, producing multiple salable products with minimal environmental impact. As the process design is finalized, capital and operating costs associated with the process will be determined by the consulting engineering company.

2013 PEA Report

In June 2013, the Company released a National Instrument 43-101 Preliminary Economic Assessment Technical Report (the “PEA Report”) on the Company’s Record Ridge Project prepared by SRK Consulting (U.S.), Inc., of Lakewood, CO (see the Company’s news release dated June 4, 2013). The PEA Report is available on the Company’s website at www.whyresources.com and on its SEDAR profile at www.sedar.com.

A conclusion of metallurgical test work documented in the PEA Report was that, under the stated leach conditions, Mg recovery of 80% was achievable and that SRK would use an 80% recovery factor for its design criteria (Section 11.2, page 50 of the PEA Report). The extraction process tested used sulphuric acid as a leachate.

The PEA Report recommended further metallurgical test work to include lock cycle and precipitation testing to establish reagent consumption and recovery and particularly, production of sulphuric acid and percentage of sulphuric acid recycling achievable (Section 22.2.2, page 139-

140 of the PEA Report). Production of fused magnesia required confirmation testing as well as addressing potential production and sale of large quantities of sodium sulphate.

For the past four years, the Company has pursued metallurgical recommendations in the PEA Report (Section 23, page 143 of the PEA Report) to conduct a complete review of the metallurgical process for extraction of magnesium, products produced by that process, and their marketability, reagent recovery and costs. This was all done with the objective of simplifying the extraction process, optimizing capital and operating costs while minimizing the overall environmental impact.

The Nitric Acid Leach Extraction Process

Drinkard was commissioned by the Company to develop an extraction process using nitric acid to recover magnesium nitrate, nickel hydroxide and a high grade of magnesium oxide as salable products. This novel process allows the recovery of all metals of interest and recovery/recycling of 98-99% of the nitric acid leachate.

The micro plant study presents an extraction process based on a unique principle of using nitric acid to solubilize the Company’s magnesium-bearing resource rock. The next step involves selectively precipitating and removing undesirable impurities (i.e. iron and arsenic) and precipitating and recovering valuable nickel. The purified magnesium nitrate solution is evaporated and decomposed back into pure magnesium oxide which can be sold or used as the precipitant for removing impurities during the extraction process. The magnesium nitrate solution is then decomposed, releasing contained nitrates as nitric acid which is quantitatively recovered and can be reused.

The nitric acid leach extraction process involves a sequential, multi-step, process flow sheet to clean-up/remove the undesirable congeners of nickel and iron. The first, and simplest, process produces a magnesium nitrate product suitable for the fertilizer industry. The second stage process utilizes the magnesium nitrate product of the first stage and includes a decomposition step to recover purified magnesium oxide and extraction of an iron(Fe)/chrome(Cr) or Fe/Cr/Ni product. The third process involves separation of iron and nickel into constituent products. Importantly, these investigations have shown the ability to recycle a high proportion of the nitric acid. The processes are exothermic (heat generating), saving on heating leach solutions to achieve optimum extraction conditions. The principal waste filtrate would be a clean silica residue.

The Drinkard Report indicates that the nitric acid leach extraction process being developed has several notable benefits and advantages over other acid leaches, as follows:

• Magnesium recovery is increased from 80% (as reported in the PEA Report) to 98.5-99.5% of the acid-leachable magnesium (where the difference between total magnesium (23.855%) and extractable magnesium (22.177%) is 1.678%. This non-leachable magnesium fraction is present in the resource as magnesium silicate which cannot be leached by nitric acid);
• the process produces very pure MgO;
• 98-99% of nitric acid is recycled;
• 97% of the acid-leachable magnesium is recovered as MgO;
• Fe/Cr or Fe/Cr/Ni co-products are suitable for steel production;
• 90-99% of nickel can be recovered separately, if desired;
• plant waste disposal is minimized compared to other leach processes as only silica needs to be disposed; and
• capital costs may be lowered as no autoclaves or pyromet furnaces are required (i.e. electrical requirements and attendant costs are significantly less than previously estimated).

Aside from the advantages described above, the approximate 18% increase in magnesium recovery from the raw resource alone adds approximately 90 pounds of Mg per metric tonne of magnesium- bearing mineralization.

While there is further micro-pilot and metallurgical process development required, test work completed to date indicates a significant increase in Mg recovery, together with a reduction in estimated capital and operating costs compared to what was disclosed in the PEA Report.

Other Work

The Company has been actively pursuing environmental baseline studies at the Company’s Record Ridge South project together with a stakeholder engagement plan and mine plan development as required by the Environmental Assessment Certification and Mine Permit application processes. As previously announced, the Company engaged SRK Consulting (Canada) Inc. (Vancouver) and Greenwood Environmental Inc. (Vancouver) to perform these important studies.

About West High Yield

West High Yield is a publicly traded, junior exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties. The Company remains focused on continued development of its 100% owned exploration property at Record Ridge South located approximately 3 km west of the community of Rossland in south-central BC, Canada.

Mr. Rick Walker, P. Geo., of Dynamic Exploration Ltd., is the “qualified person” as defined in National Instrument 43-101, who has reviewed and approved the technical content in this press release.

For further information please contact:

Frank Marasco Dwayne Vinck

President and Chief Executive Officer Chief Financial Officer

West High Yield (W.H.Y.) Resources Ltd. West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660 – 3488 Telephone: (403) 257 – 2637

Facsimile: (403) 206 – 7159 Facsimile: (403) 206 – 7159

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

Reader Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”,

“ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the proposed activities and business of the Company. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

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 press release.

 

CALGARY, ALBERTA – May 31, 2017. West High Yield (W.H.Y.) Resources Ltd. (the “Company”) announces that it has completed two tranches of its previously announced non-brokered private placement of units (each, a “Unit”) on May 29 and 31, 2017. The Company issued an aggregate of 1,170,000 Units at a price of $0.30 per Unit for gross proceeds of $351,000. Each Unit consists of one common share in the capital of the Company (a “Common Share”) and one-third of one common share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.45 for a period of one year from the date of issuance of the Warrant. All of the securities issued under the private placement are subject to a four month resale restriction. The private placement is subject to receipt of all necessary regulatory approvals including final approval of the TSX Venture Exchange. It is expected that the balance of the private placement will be completed within the next few weeks.

The net proceeds of the private placement will be used for general corporate purposes, environmental study and mine plan development as required by the Environmental Assessment Certification and Mine Permit application processes.

The Company also announces the release of its financial results and Management Discussion and Analysis for the three months ended March 31, 2017 which 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.

For further information please contact:
Frank Marasco President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488 Facsimile: (403) 206-7159 Email: [email protected]	Dwayne Vinck Chief Financial Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 257-2637 Facsimile: (403) 206-7159 Email: [email protected]

Reader Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar

expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the proposed timing for the completion of the private placement and the proposed use of proceeds of the private placement. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

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 press release.

 

CALGARY, ALBERTA – February 24, 2017. West High Yield (W.H.Y.) Resources Ltd. (the “Company”) announces that the Company will be exhibiting in Booth 2923, at this year’s Prospectors and Developers Association of Canada (PDAC) 2017 Convention in Toronto, Ontario, March 5 – 8, 2017.

Magnesium Mine Development

The Company continues to pursue additional financing for completion of the environmental base line, environmental assessment study and mine plan development for its magnesium project.

In June 2016, the Company commenced work on the environmental study, stakeholder engagement, and mine plan development on the Company’s Record Ridge South Magnesium Property as required by the Environmental Assessment Certification and Mine Permit application processes. The Company engaged SRK Consulting (Canada) Inc. (Vancouver) and Greenwood Environmental Inc. (Vancouver) to work on these projects. The Company also engaged Drinkard Metalox, Inc. of Charlotte, North Carolina to perform a series of hydrometallurgical tests on the Company’s magnesium ore to evaluate magnesium processing and recovery alternatives. The Company has incurred expenses of approximately $1.5 million on the above projects to date and looks forward to financing and continuation through 2017.

The Company issued its Preliminary Economic Assessment on the Record Ridge South Magnesium Property in South Eastern British Columbia on June 4, 2013, which is available under the Company’s profile on the System for Electronic Document Analysis and Retrieval and can be accessed through the internet at www.sedar.com.

Loan

On February 6, 2017, the Company received an additional loan of up to $200,000 from Big Mountain Development Corp. Ltd., a related party (the “Lender”). The loan bears interest at the rate of 8% per annum and is secured by a pledge to and in favour of the Lender of all of the Company’s present and after acquired property.

Secured Additional Mineral Claims

On February 17, 2017, the Company secured an additional 402 hectares which is contiguous to the Company’s existing mineral and crown granted claims in British Columbia bringing the Company’s total mineral and crown grants claims to 8,314 hectares.

About West High Yield

West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties.

For further information please contact:
Frank Marasco President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488 Facsimile: (403) 206-7159 Email: [email protected]	Dwayne Vinck Chief Financial Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 257-2637 Facsimile: (403) 206-7159 Email: [email protected]

Reader Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning its proposed business plans and operations. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

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 press release.

 

CALGARY, ALBERTA – November 29, 2016. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) announces the release of its financial results and Management Discussion and Analysis (“MD&A”) for the nine months ended September 30, 2016. The unaudited interim condensed financial statements and related MD&A for the nine months ended September 30, 2016 have been filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.

British Columbia Environmental Assessment Application and Mine Permit Application

As required to meet and exceed regulatory requirements, the Company has focused on extensive environmental baseline studies for its Record South Ridge Properties and surroundings. These studies include Water Quality, Fisheries, Vegetation, Soil, and a comprehensive GIS Terrestrial Ecosystem Mapping. In addition to these studies the Company will be fully consulting with Community and First Nations Stakeholders. These studies and the Project Description and Environmental Work Planning is being conducted by Greenwood Environmental and SRK Consulting (Canada) both of Vancouver, BC.

Magnesium Hydrometallurgical Testing

Drinkard Metalox, Inc. (“Drinkard”) of Charlotte, North Carolina continues its hydrometallurgical testing of the Company’s magnesium ore to evaluate magnesium processing and recovery alternatives. Drinkard is now engaged in micro-plant scale production simulation testing at their facilities. to further evaluate the magnesium extraction processing to improve recovery and reduce plant capital and operating costs. SRK Consulting (U.S.) Inc. of Lakewood, Colorado will review the results of Drinkard’s testing.

Year to date expenditures exceed $1 million and the Company continues to pursue additional financing for continuation of the above projects.

About West High Yield

West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties.

For further information please contact:
Frank Marasco President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488 Facsimile: (403) 206-7159 Email: [email protected]	Dwayne Vinck Chief Financial Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 257-2637 Facsimile: (403) 206-7159 Email: [email protected]

Reader Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the Company’s plans to develop its properties and pursue financing for its projects. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

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 press release.