Categories
2007 News Release

West High Yield (W.H.Y.) Resources announces private placement

CALGARY, ALBERTA, – May 3, 2007. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) today announced that the Company has entered into an agreement with IBK Capital Corp. (“IBK”) under which IBK has agreed to act as agent of West High Yield to raise, on a best-efforts basis, up to $2,925,000 million in Canadian dollars through the sale of units (“Units”) at an offering price of $0.65 per Unit.

Each Unit will consist of one common share of West High Yield and one-half of one common share purchase warrant. Each whole warrant will be exercisable for one common share at a price of $1.00 per share for a period 2 years from the closing date provided that if during the exercise period of the warrants, the common shares of West High Yield trade at or above $1.50 for a period of 20 consecutive trading days, West High Yield may notify the holders of the warrants and issue a press release that the expiry of the warrants will be amended to 30 days from the date of the notice.

West High Yield will pay IBK a commission and will issue compensation warrants.

The offering is scheduled to close on or about May 8, 2007 and is subject to certain conditions, including, but not limited to, satisfactory due diligence and the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

Proceeds from the offering are to be used for working capital, to fund exploration work on the Rossland project and to acquire neighbouring claims.

This press release does not constitute an offer to sell securities or a solicitation of an offer to buy the securities in the United States. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements.

West High Yield is a 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 properties.

For further information please contact:

Frank Marasco Craig G. Robson

President and Chief Executive Officer Vice President, Corporate Development West High Yield (W.H.Y.) Resources and Investor Relations

28 Arbour Lake Drive, NW West High Yield (W.H.Y.) Resources

Calgary, Alberta T3G 3N8 Suite 620, 800 West Pender Street

Telephone: (403) 283-5555 Vancouver, BC V6C 2V6

Facsimile: (403) 206-7159 Telephone: (604) 868-7961

Facsimile: (604) 274-1431

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

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Categories
2007 News Release

West High Yield (W.H.Y.) announces annual financial results

CALGARY, ALBERTA, – April 10, 2007. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) is pleased to announce its audited financial results for the year ended December 31, 2006.

Highlights

  • On July 27, 2006, the Company became publicly traded when it completed its initial public offering of securities that was fully subscribed for gross proceeds of $2,000,000.
  • Successful 2006 drilling program comprising over 10,000 feet of diamond drilling over 21 holes.
  • Completion of a flow-through financing in December, 2006 that raised $1,100,000.

West High Yield’s financial condition improved in 2006. At December 31, 2006, the Company had a working capital surplus of $1,657,594 compared to a working capital deficiency of $1,612,811 at December 31, 2005 when it was still a private Company. This improved financial position is as a result of the initial public offering of securities that occurred in July, 2006, the exchange of debt due to a related company for shares at that same date as well as a flow-through share financing completed in December, 2006. During the year funds were expended on an extensive diamond drilling program on the Company’s properties near Rossland, British Columbia.

During the year ended December 31, 2006, the Company had a net loss of $1,986,511 or $0.07 per share compared to a loss of $562,880 or $0.04 per share in 2005. During 2006, the Company expended $864,397 on its mineral exploration project ($224,849 in 2005), $340,810 of head office expense ($124,303 in 2005) and $115,840 of interest expense and bank charges ($215,848 in 2005). In addition the Company recorded non-cash expenses of $682,063 relating to stock based compensation (nil in 2005) and $6,268 for depreciation and amortization expense ($900 in 2005).

The drilling season for the Company was completed on December 2, 2006. During the year, 21 core holes were completed in Phase 2 of the diamond drill program on its properties located on the western outskirts of Rossland in southeastern British Columbia. During the season, a total of 10,074 feet of core was drilled on the Rossland Gold Camp property near Rossland, British Columbia. Assay results have now been obtained on all core. These results have previously been disclosed in press releases dated October 10 and November 20, 2006, January 19 and March 21, 2007 and are available on the SEDAR website at www.sedar.com. Overall as a result of this years drilling, in nine holes drilled on the Midnight property, the Company has encountered narrow, erratic high grade gold intercepts, while in other remaining cores, a potential mineral zone of low grade gold bearing materials was identified. Of perhaps more significance than the gold concentrations located, nickel mineralization of commercial interest have been located in the black serpentinite in Ivanhoe Ridge with assay results up to 0.245% or 5.4 lbs nickel/ton (weighted average). Further delineation of the potential nickel zone will be accomplished through the Company’s exploration program in 2007.

The Company’s 2007 Phase three drilling program is scheduled to commence in April on the property with more than 20,000 feet of core hole expected to be drilled during the season utilizing the services of two drilling rigs.

West High Yield (W.H.Y.) Resources is a 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 properties.

For further information please contact:
Frank Marasco

President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. 28 Arbour Lake Drive N.W.,

Calgary, Alberta T3G 3N8 Telephone: (403) 660-3488

Facsimile: (403) 206-7159

Email: [email protected]

Craig G. Robson

Vice President, Corporate Development and Investor Relations

West High Yield (W.H.Y.) Resources Ltd. Suite 620, 800 West Pender Street Vancouver, B.C. V6C 2V6

Telephone: (604) 868-7961

Facsimile: (604) 274-1431

Email: [email protected] or [email protected]

READER ADVISORY

The TSXV has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

This news release may contain certain forward-looking statements, including management’s assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, risks associated with mining exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers and producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company’s actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Not for dissemination in the United States or to US persons.

Categories
2007 News Release

West High Yield retracts reserve estimate

CALGARY, ALBERTA, – Thursday, March 22, 2007. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) advises that it has not yet obtained an independent technical report with respect to its Rossland property and therefore the statement made in its news release of March 21, 2007 with respect to an estimated amount of reserves of 220,000 tons averaging 1.82 g/t Au in its Midnight property was not in compliance with NI 43-101 and the Company therefore wishes to retract this disclosure. The Company also advises that the resource should not be relied upon and the Company has no current mineral resources on the property.

West High Yield is a 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 properties.

For further information please contact:

Frank Marasco

President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. 28 Arbour Lake Drive N.W.,

Calgary, Alberta T3G 3N8 Telephone: (403) 660-3488

Facsimile: (403) 206-7159

Email: [email protected]

Craig G. Robson

Vice President, Corporate Development and Investor Relations

West High Yield (W.H.Y.) Resources Ltd. Suite 520, 700 West Pender Street Vancouver, B.C. V6C 2T8

Telephone: (604) 685-5851 or 888-685-5851

Facsimile: (604) 685-7349

Email: [email protected] or [email protected]

READER ADVISORY

The TSX Venture Exchange has neither approved nor disapproved of the contents of this new release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Certain information regarding the Company including management’s assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

Not for dissemination in the United States or to U.S. persons.

Categories
2007 News Release

West High Yield announces completion of testing on 2006 drilling program, appointment of investment advisors and 2007 drilling program

CALGARY, ALBERTA, – Wednesday, March 21, 2007. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) is pleased to announce that it has completed the drilling and testing of 21 drill holes of its 2006 Phase 2 Diamond Drill Program on its properties located in Rossland, British Columbia. The Company previously reported on the first 15 drill holes completed and accordingly the Company now reports on the assay results of the last six drill holes.

DRILLING RESULTS UPDATE

ALS Chemex provided the most recent assay results from the last 6 holes SR06-13 and SR06- 17 through SR06-21 on the Midnight Property. A narrow quartz vein with free gold of 0.7 ft. (0.2 m) in true thickness was intersected in hole SR06-18 which returned 36.3 g/t Au. This quartz vein is postulated to be the downdip extension of one of the high grade narrow veins exploited in the old IXL workings prior to 1984, which yielded 811,746 grams of gold. Five cross sections in the Midnight, IXL and OK claims were drawn for the use of geological interpretation and tonnage calculation in the Midnight workings. Gold resources in the vicinity of Midnight 3100 Level are estimated to be 220,000 tons averaging 1.82 g/t.

Aside from hole SR06-18, two holes drilled returned insignificant gold values but returned significant nickel values of economic interest which are emplaced in the country rock of black serpentinite. Hole SR06-17 returned nickel values of 1,837 g/t (4 lbs/t) over 400 ft. (122 meters) in true width. Hole SR06-20 returned 1,814 g/t (4 lbs/t) nickel over 145 ft. (44 meters) in true width. Hole SR06-18 described above with a quartz vein of high gold values also intersected nickel bearing serpentinite returning 1,735 g/t (3.8 lbs/t) nickel over 150 ft. (46 meters) in true width. Hole SR06-21 at the portal of Midnight 3100 level returned relatively low gold values of 2.39 g/t Au over 5 ft. (1.5 meters) in true width but returned significant nickel values in the black serpentinite of 1,908 g/t (4.2 lbs/t) nickel over 265 ft.(80 meters) in true thickness. It should be noted that the present nickel values are indicated by the standard ICP analytical method from ALS Chemex. Further improved nickel values may be anticipated from the “improved nickel extraction leaching experiment” currently being conducted by the Company.

The results of holes SR06-13 and SR06-19 are not impressive and without significant gold values of 0.28 g/t Au over 20 ft. or 0.57 g/t Au over 3 ft. These intersections occur in white quartz veins hosted by volcanic rocks (andesite). Upon review, these zones may not represent the originally targeted veins, based on the newly surveyed plan which became available after drilling was completed in 2006. Accordingly, another deep drill hole is proposed at the same location in the 2007 drilling program to test the downward extent of northerly striking high grade No. 1 vein of the Midnight 3200 level, which was mapped and sampled by previous operators.

SUMMARY OF NICKEL MINERALIZATION

As noted in the last progress report, significant nickel mineralization of commercial interest in the black serpentinite in Ivanhoe Ridge is strongly indicated by sampling results, assayed up to

0.245 % or 5.4 lbs nickel/ ton (weighted average) from the standard chip and channel samples across true width and adequate spacing over one kilometer intermittent exposures along the Cascade Highway, about 7 km south of the Midnight property. Again, it should be noted that the 1969 selected underground samples of the black serpentinite in the Midnight workings returned up to 0.45 % (4,500 g/t or 10 lbs/t) nickel. However, the serpentinites tested in the 2006 program on the Midnight property returned relatively lower nickel values but still indicate significant nickel values of economic interest. Nickel mineralization in four of the recently tested holes is summarized in the following table:

SITE Drill Hole FROM

ft

TO

ft

TRUE WIDTH

ft (m)

GRADE

nickel g/t (lbs/t)

REMARK
6 SR06-17 55 606 400 (122) 1,837 (4) Excluded 11 intervened dykes of andesite, diorite and lamprophyre, 1 – 4 ft. thick.
SR06-18 20 1

91

150 (46) 1,735 (3.8) Without intervened dykes
SR06-20 41 186 138 (42) 1,814 (4) Without intervened dykes
Midnight 3100 level SR06-21 76 529 265 (80) 1,908 (4.2) Excluded 102 ft. of intervened

dykes of andesite, diorite and listwanized serpentinite.

RESOURCES IN THE MIDNIGHT PROPERTY

In the 2006 drilling program, a total of 12 holes were drilled in the vicinity of the Midnight 3100 level workings. Narrow, erratic high grade gold intercepts ( for example, 75 g/t Au across 2 ft., 51 g/t Au over a true width of 2 ft. and 40 g/t Au across a true width of 2.2 ft. ) were encountered in 9 holes drilled on the Midnight property. Geological and grade continuity of these high grade gold concentrations cannot be reasonably assumed. However, the drilling results identified a mineral resource of low grade gold bearing materials (potential bulk mineable gold concentrations) of which quantity and grade can be confidently estimated on the basis of sampling results from nine holes, old workings stope data and three cross sections for the present tonnage estimation. An area of influence in resource calculation was assumed of 10 meters in most cases (about 70%). The gold bearing material was assumed beyond 10 meters but within

30 meters. Overall, present calculations result in an estimated resource of 220,000 tons averaging 1.82 g/t Au in the Midnight property. The Company’s field activities are supervised and the technical data for this report was prepared by H. Kim, P.Geo./P.Eng. (Practicing), a “Qualified Person” as defined by NI 43-101.

2007 PHASE 3 DRILLING PROGRAM

The application for the 2007 Rossland field program was filed with the BC Ministry of Energy, Mines and Petroleum Resources. The 2007 field program will take place in two separate areas, the Midnight property and Ivanhoe Ridge which are about seven kilometers apart. The Company

has retained the use of two drilling rigs and proposes to drill three to five holes on the Midnight property and approximately 20 holes on the Ivanhoe Ridge property, subject to field mapping. Before drilling, the Company plans on completing a comprehensive line grid map and soil sampling on the Ivanhoe Ridge property, where the nickel bearing ultramafic rocks (black serpentinite) occur in an area of about three square kilometers.

INVESTOR RELATIONS AGREEMENTS

The Company also reports that it has entered into two service agreements with investment advisors. The Company retained Working Capital Corporation of Calgary, Alberta (“WCC”) for one year pursuant to an agreement (the “Agreement”) for investor relations services. WCC shall be paid a monthly fee of $6,500 for the one year term and receive 250,000 options to purchase common shares at $0.40 per share for one year and with various vesting provisions. The Company has also retained Bay Street Connect of Toronto, Ontario (“Bay Street”) to provide similar investor relations services for a six-month term. Bay Street shall be paid a monthly fee of $5,000 and receive 100,000 options to purchase common shares of the Company at $0.40 per share with various vesting provisions.

West High Yield is a 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 properties.

For further information please contact:

Frank Marasco

President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. 28 Arbour Lake Drive N.W.,

Calgary, Alberta T3G 3N8 Telephone: (403) 660-3488

Facsimile: (403) 206-7159

Email: [email protected]

Craig G. Robson

Vice President, Corporate Development and Investor Relations

West High Yield (W.H.Y.) Resources Ltd. Suite 520, 700 West Pender Street Vancouver, B.C. V6C 2T8

Telephone: (604) 685-5851 or 888-685-5851

Facsimile: (604) 685-7349

Email: [email protected] or [email protected]

READER ADVISORY

The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Certain information regarding the Company including management’s assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

Not for dissemination in the United States or to U.S. persons.

Categories
2007 News Release

West High Yield Resources updates drilling results

CALGARY, ALBERTA, – January 19, 2007. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) announces that it has received its most recent assay result from holes SR06-12, SR06-14, SR06-15 and SR06-16. Significant gold values were returned from holes SR06-15 which returned 8.59 gram per tonne gold over 10 feet (3.048 meters) and hole SR06-16 which returned 15.89 gram per tonne gold over 13 feet (3.96 meters). The holes reported on formed part of the Company’s 21 hole drill program designed to test the gold mineral potential of its Rossland Gold properties. The Company’s 2006 diamond drilling programs completed in the 3 crown granted claims (Midnight, IXL and OK) are summarized in the following table:

CLAIM DRILLSITE TARGET DRILLING
Midnight 1, 2 and 3 Lower extensions of the easterly striking veins of the Midnight 3100 level 12 holes totalling 5,197 feet
4 No. 1 vein down dip below the Midnight

3100 level at the northern extremity

3 holes totalling 1,174 feet
IXL 5 Lower extensions of the easterly striking veins of

the IXL workings

3 holes totalling 1,847 feet
OK 6 Lower extensions of the easterly striking veins of the OK workings 3 holes totalling 1,856 feet
TOTAL 21 holes totalling

10,074 feet

The assay results reported in the tables below by the Company include the 4 recently assayed drill holes and updated information for the 11 holes previously reported and include intercepted core length and true widths.

RESULTS OF DRILLING

SIGNIFICANT GOLD INTERSECTIONS

CLAIM SITE DRILLHOLE FROM

ft

TO

ft

DRILLED WIDTH

ft

TRUE WIDTH ft GRADE Au

g/t

1 SR06-1 129

305

155

311

23

6

17

4.6

3.53

11.23

SR06-2 187 199 12 8.5 4.8
Midnight SR06-3 58.5

152

61

155

2.5

3

1.6

2.2

21.5

40.1

2 SR06-4 127.2

135.7

174.1

130.7

140.7

179.0

5.5

5

4.9

2.5

4

3

1.01

1.35

1.03

SR06-5 215

341

248

346

32

5

22

5

3.68

18.15

3

3

SR06-6 60 63 3 2 51
SR06-7 56

76

86

66

81.5

91

10

5.5

5

7

4

3.8

15

14.7

14.3

SR06-8 120.5

120.5

136

126.5

15.5

3.5

7.5

2

34.8

75

SR06-9 66 73 7 4.5 4.36
SR06-10 152

183.8

158

187

6

3.2

3

1.8

3.92

4.44

SR06-11 72.5

92.5

96

96

23.5

3.5

10.2

2.3

10.2

40.9

SR06-21 Not as yet Assayed
SR06-12 340 347.3 7.3 5 0.73
SR06-13 Assay in progress
SR06-19 Assay in progress
IXL 5 SR06-14 232

444

458

235

449

460

3

5

2.3

3.5

1.05

1.32

SR06-15 91

121

96.5

131

5.5

10

3

5.5

4.49

8.59

SR06-16 76

121

91

133

15

13

10

8.5

5.94

15.86

OK 6 SR06-17 Assay in progress
SR06-18 Assay in progress
SR06-20 Assay in progress

West High Yield Resources is a 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 properties.

For further information please contact:

Frank Marasco

President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. 28 Arbour Lake Drive N.W.,

Calgary, Alberta T3G 3N8 Telephone: (403) 660-3488

Facsimile: (403) 206-7159

Email: [email protected]

Craig G. Robson

Vice President, Corporate Development and Investor Relations

West High Yield (W.H.Y.) Resources Ltd. Suite 520, 700 West Pender Street Vancouver, B.C. V6C 2T8

Telephone: (604) 685-5851 or 888-685-5851

Facsimile: (604) 685-7349

Email: [email protected] or [email protected]

READER ADVISORY

Certain information regarding the Company including management’s assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Not for dissemination in the United States or to U.S. persons.