Category: 2023

CALGARY, ALBERTA – October 26, 2023 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to announce that it has engaged ACS Moschner & Co GmbH (“ACS“), a company based out of Vienna, Austria, to provide exclusive consulting services in an effort to explore alternative growth options and realize the full potential for the Company, pursuant to a Consultancy Mandate Agreement (the “Agreement“) in compliance with the applicable policies of the TSX Venture Exchange.

For the provision of service rendered by ACS under the Agreement, the Company will pay ACS a success fee calculated as a percentage of the transaction value of all monies or consideration received by the Company via candidates sourced and introduced to the Company by ACS, who successfully enter into an investment or purchase or other partnership agreement with the Company. The Agreement will be in effect for a period of one (1) year (the “Initial Term“), and both parties shall have the ability to extend the Initial Term by mutual consent for further one (1) year term extensions thereafter, contingent upon ACS’s performance. If the parties do not exercise their mutual intention to extend the Agreement after expiration of the Initial Term, the Agreement terminates.

ACS does not have any interest, directly or indirectly, in the Company, will not receive common shares or options as compensation, and does not have any present intention to acquire any securities of the Company aside from as is necessary to perform its obligations under the Agreement.

ACS is part of ACS Group, an international, cross-border association of independent consulting companies represented on each continent. Holding the actual presidency of ACS Group, ACS will coordinate the efforts of ACS Group in this mandate. For decades, ACS has excelled in supporting the development of companies across all stages of the business life cycle. Its head office is located at Wiesingerstr. 6/7, A-1010 Vienna, Austria.

About West High Yield

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

The Company’s Record Ridge magnesium deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently produced National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) Preliminary Economic Assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with NI 43-101.

Contact Information:

WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.

Frank Marasco Jr., President and Chief Executive Officer

Telephone: (403) 660-3488

Email: [email protected]

Barry Baim, Corporate Secretary

Telephone: (403) 829-2246

Email: [email protected]

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

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

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

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

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 

CALGARY, ALBERTA – October 25, 2023 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to provide an update on the progress of its permit application and announces that it has submitted its amended permit application (the “Amended Application“) for its Record Ridge Industrial Mineral Mine (“RRIMM” or the “Project“) to the British Columbia Ministry of Energy, Mines and Low Carbon Innovation and BC Ministry of Environment and Climate Change Strategy (together, the “Ministries“).

The Company held public open house meetings on May 17 and May 18, 2023 in the Rossland, British Columbia community located approximately ten kilometers from the proposed Project site in the Lower Columbia/Old Glory Area B Kootenay Region. Feedback from these meetings was thoughtfully considered by the Company, leading to amendments (the “Amendments“) to its permit application, resulting in the Amended Application. These Amendments were presented and discussed at a meeting (the “MDRC Meeting“) with the British Columbia Mines Development Review Committee (the “MDRC“) that took place in Rossland on June 27, 2023, and were well received by Project stakeholders in attendance. The Company outlined numerous proposed Project mitigation strategies to address concerns and interests that had been expressed through its public engagement efforts, as previously announced by the Company in a press release dated July 4, 2023.

The Amendments in the Amended Application include:

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

Following the MDRC Meeting, the Company began working with the Ministries and engaged its consultants, SRK Mining Engineers and Greenwood Environmental, to address comments presented at the MDRC Meeting. This collaboration aimed to provide the required information for making the Amendments and finalize the Amended Application in accordance with the mitigation initiatives previously outlined. These positive changes to the Project will be implemented with the utmost consideration for the environment, the community and all associated stakeholders. While these changes have taken longer than initially expected, mitigation strategies incorporated into the Amended Application have made it stronger on all fronts.

The Osoyoos Indian Band conducted an independent review of the Amended Application and has demonstrated a strong commitment to working with West High Yield in the protection of the environment and mutual economic interests. This commitment is and was reflected in the signing of a cooperation agreement between the Company and the Osoyoos Indian Band, as previously announced by the Company in a press release dated September 11, 2023.

West High Yield eagerly anticipates the next phase of the MDRC technical review process and is awaiting feedback from the MDRC members in a timely manner.

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company focused on acquiring, exploring, and developing mineral resource properties in Canada. Its primary objective is to develop its Record Ridge critical mineral magnesium, silica, and nickel deposits using green processing techniques to minimize waste and CO₂ emissions.

The Company’s Record Ridge magnesium deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently produced National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) Preliminary Economic Assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with NI 43-101.

Contact Information:

WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.

Frank Marasco Jr., President and Chief Executive Officer

Telephone: (403) 660-3488

Email: [email protected]

Barry Baim, Corporate Secretary

Telephone: (403) 829-2246

Email: [email protected]

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

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

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

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

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 

CALGARY, ALBERTA – September 11, 2023 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV: WHY) is pleased to announce the signing of a Cooperation Agreement (the “Agreement“) with the Osoyoos Indian Band (“OIB“) regarding the Company’s Record Ridge magnesium project (the “Project“) located near Rossland , British Columbia.

The Project contains critical minerals essential to the development of Canada’s green economy and achievement of its climate change goals. It is also in the OIB’s asserted traditional territory and the OIB has been actively engaged in the project and permitting process.

The Agreement was negotiated based on the Company’s commitment to advancing sustainability, sound environmental practices, good governance, and respecting Indigenous rights.

OIB undertook its own independent review of the Company’s British Columbia Mines Act permit application.

“This Agreement recognizes Osoyoos Indian Band’s sovereignty over our lands and represents our continued efforts to ensure that our lands are protected and managed in accordance with our wishes, values, and principles.  This Agreement assures us of our oversight of the project, thereby protecting our peoples’ environmental and economic interests”, said Chief Clarence Louie. “If managed correctly, this critical mineral resource could contribute to a strong and green economy. To date, West High Yield has shown OIB that it is committed to doing this. Our independent review of the Company’s mining application reinforces our commitment to working with the Company going forward. We encourage other companies to follow West High Yield’s example and take steps to ensure that Indigenous rights are respected and are recognized, while also engaging with stakeholders. We look forward to our ongoing work with Frank Marasco and the Company’s team to build a long-term, mutually beneficial, and environmentally progressive relationship. ”

“The signing of this Cooperation Agreement is a testament to the mutual trust and respect that has been established between OIB and the Company, working in partnership to responsibly develop the Record Ridge Project”, said the Company’s President and CEO Frank Marasco Jr. “I would like to acknowledge and thank Chief Clarence Louie, the OIB Council, and advisor Byng Giraud for their diligence and commitment. West High Yield is committed to leading the way in constructive Indigenous engagement and looks forward to additional discussions with other Indigenous groups as the project moves forward.”

The Company continues working with the British Columbia Mine Development Review Committee in the final technical permit review process for the successful completion of the Record Ridge mining permit.

About the Osoyoos Indian Band

The Okanagan Nation traditional territory once spanned 69,000 square kilometers stretching between present-day British Columbia and Washington State. Within this territory, OIB’s area of leadership and business responsibility extends from the South Okanagan into the Boundary and Kootenay regions. OIB Development Corporation (OIBDC) exists to provide jobs and to fund and support OIB community priorities. Businesses, social and health services teams work side-by-side to invest millions in making sure our people have access to quality programs and services. OIB is a member of the Okanagan Nation Alliance.

About West High Yield

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

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

Contact Information:

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

Frank Marasco Jr., President and Chief Executive Officer

Telephone: (403) 660-3488

Email: [email protected]

Barry Baim, Corporate Secretary

Telephone: (403) 829-2246

Email: [email protected]

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

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

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

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

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEA

 

CALGARY, ALBERTA – July 25, 2023 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV: WHY) is pleased to provide a comprehensive update on major strategic developments shaping the magnesium market. These insights are aimed at keeping the Company’s valued stakeholders well-informed about the economic, geopolitical, and industrial trends influencing the sector’s growth and future potential and supporting an energy transition to zero-carbon emission.

Market Growth Projections

The global metal magnesium market, valued at USD $4.8 billion in 2022, is projected to witness substantial growth, reaching USD$7.25 billion by 2030 (based on Skyquest’s Global Magnesium Market Size report) and well-established market trends predating the COVID-19 pandemic. These figures primarily consider direct metal applications, such as iron and steel making, die casting, aluminum alloys, and titanium reduction. It is important to note that these estimates do not account for several secondary, higher-value applications, including extruded foams, structural cladding and fireproofing, medical devices, pharmaceutical applications and supplements, industrial coatings and metamaterials, and other emerging use cases. However, an exciting opportunity is the potential use of magnesium in the energy storage sector, specifically as an alternative to lithium batteries.

Advancements in Magnesium Batteries

Magnesium-based batteries have been a topic of research for many years due to their potential advantages over traditional lithium-ion batteries. Magnesium ions have a double positive charge, which theoretically allows a magnesium battery to store almost twice as much energy as a lithium battery of the same size. Moreover, magnesium is more abundant and less expensive than lithium, making it a potentially more sustainable and cost-effective solution.

In recent months, there have been several breakthroughs in the development of magnesium-based batteries. Researchers have overcome previous challenges related to the stability and efficiency of magnesium electrolytes, which have historically hindered the commercialization of this technology. New magnesium-based electrolytes have been developed that are stable, non-toxic, and efficient, paving the way for the next generation of high-energy-density batteries.^[1],2

Furthermore, several companies are now in the advanced stages of developing magnesium-ion batteries, including Pellion Technologies (US), Magnotec (Australia), MagPower Systems (Canada) and Magpie Technologies (US). These batteries are expected to hit the market within the next few years, offering a promising alternative to lithium-ion batteries. They are projected to have a higher energy density, longer lifespan, and better safety profile, with lower risk of overheating and combustion.

Notably, two papers have highlighted the environmental and safety benefits of transitioning to magnesium batteries: (i) The Environmental Benefits of Switching to Magnesium Batteries; and (ii) The Safety Advantages of Magnesium Batteries Over Lithium-ion. The first paper emphasizes the positive environmental impact of adopting magnesium batteries, while the second one outlines the safety advantages they hold over lithium-ion batteries. This further strengthens the case for embracing magnesium batteries as a sustainable and secure energy storage solution.

Canada’s Geopolitical Resource Independence

The Trudeau administration recognizes the crucial role Canada must play in ensuring the geopolitical resource independence of Western democracies, securing full access to critical minerals, including magnesium. The country’s critical minerals strategy, backed by a substantial federal budget allocation of $3.8 billion for mineral exploration and mining, sets a clear path for bolstering Canada’s capability to supply both domestic and global markets with high-priority minerals, including lithium, cobalt, magnesium, and rare earth elements.^[2]3

Collaboration with the Current US Administration

In addition to Canada’s efforts, there is a strong natural partnership between the Biden and Trudeau administrations to support North America’s journey towards achieving resource independence. Collaborating on the production of lithium, cobalt, magnesium, and other critical minerals will empower both nations to reduce economic dependence on China, which currently dominates the market. This move is vital as countries worldwide pivot towards carbon emission reduction.^[3]4

West High Yield’s Unique Advantage

The Company stands uniquely positioned to potentially provide onshore safe and secure access to a substantial magnesium resource. Located in a friendly jurisdiction with reliable infrastructure and strong regulatory engagement, the Company’s Record Ridge magnesium project (the “Project“) has received acceptance for permitting application review by the B.C. Ministry of Mines. West High Yield is committed to working collaboratively with regulators to advance the Project while ensuring environmental friendliness and ethical practices.

West High Yield’s management team sincerely appreciates the unwavering support and patience demonstrated by shareholders throughout the challenging 18 months experienced in the Canadian capital markets. The Company acknowledges the numerous trials and tribulations involved in progressing a major resource project responsibly. With optimism, the Company anticipates a dynamic and eventful coming 12 months.

About West High Yield

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

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

Contact Information:

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

Frank Marasco Jr., President and Chief Executive Officer

Telephone: (403) 660-3488

Email: [email protected]

Barry Baim, Corporate Secretary

Telephone: (403) 829-2246

Email: [email protected]

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

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

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

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

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEA

1. Beyond lithium: A promising cathode material for magnesium rechargeable batteries.
2.  High-rate magnesium rechargeable batteries move one step closer to realization.↑
3. The Canadian Critical Minerals Strategy. ↑
4. Politico – United States and Canada Break China Tech Dominance – March 24, 2023. ↑

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

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

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

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

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

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

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

Engagement with Indigenous Nations

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

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

 

About West High Yield

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

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

Contact Information:

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

Frank Marasco Jr., President and Chief Executive Officer

Telephone: (403) 660-3488

Email: [email protected]

 

Barry Baim, Director and Corporate Secretary

Telephone: (403) 829-2246

Email: [email protected]

 

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

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

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

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

 NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

CALGARY, ALBERTA – February 1, 2023 – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) is pleased to announce the confirmation of additional high-grade gold assays (see Tables 1 and 2) and to provide a status update from its 6,000 metre exploration drilling program initiated in 2022 at its Midnight gold claim (“Midnight“) located in Rossland, British Columbia (the “2022 Drilling Program“). The Rossland Gold Camp historically produced over 2.76 million ounces of recovered gold and 3.52 million ounces of recovered silver.

HIGHLIGHTS

• Additional high-grade gold assays including:
• MN22-13 262.50-263.35 metres depth – 32.5 g/t Au over 0.85 metre
• MN22-18 41.0-47.0 metres depth – 7.99 g/t Au over 6 metres
• including MN22-18 45.5-47.0 metres depth – 13.55 g/t Au over 1.5 metres
• 41 holes completed and logged in 6,191 metre NQ2 diamond drilling program
• Targets tested in historical Midnight, IXL and OK mining areas
• 24 drill holes sampled
• 2,865 sample assays including QAQC completed
• 693 samples in 17 holes marked for 2023 spring sampling program

We recently received the balance of the outstanding 2022 assay data which was focused specifically on the gold content. The Company intersected more structurally-controlled mineralization in high-grade assay intervals such as those in MN22-13 northwest and MN22-18 southwest of the central Midnight mineralization along the broad northeast trend of listwanite replacement and the high-grade Baker Vein. Assays using gravimetric protocols verified significant grades up to 32.5 g/t gold (“Au”) in intervals from 85 cm and composite intervals to 6 metres (see Tables 1 and 2)”, stated Greg Davison, P.Geo and the Company’s internal qualified person (the “Qualified Person” or “QP“) for Midnight. “We look forward to completing the assay sampling of seventeen (17) remaining holes in the 2023 Midnight drilling program”, Mr. Davison further noted.

The 2022 Drilling Program was completed and closed for the winter season on November 15, 2022 at Midnight (see Figure 1). A total of 6,191 metres were completed (see Table 3) during the course of the 2022 Drilling Program.

Figure 1 shows the distribution and status of the 2022 permitted and active drill collar locations relative to the Company’s drilling activity from 2006 through to 2010. Assays received from 2,856 core and QA/QC samples are reported for twenty-three (23) completed holes and one partially sampled hole (see Tables 1 and 2). Seventeen (17) holes, currently with 693 samples and QAQC insertions, await core cutting and sampling in the spring 2023 program. Geological compilation and Leapfrog modelling of the current and historical drill and geological results is ongoing. Final LiDAR bare-earth maps are pending receipt in February 2023.

Figure 1. Location map of 2022 and post-2000 historical drilling on Midnight, IXL and OK mining claims and grants with mine portals and access trails. Current drilling completed at OK South and Upper Portal, IXL Upper and Lower Adit, and Midnight 3100 and 3200 Portals SSW of the Italian Tunnel. Sampling pending (purple) for 17 holes.

Table 1. Summary of recent 2022 drill core intersections with 2 gram-plus Au g/t values. Samples >10 g/t Au were finished using gravimetric analysis and/or screen metallics (highlighted).

Table 2. Summary of previously reported 2022 drill core intersections with 4 gram-plus Au g/t values. Samples greater than 10 g/t Au were finished using gravimetric analysis and/or screen metallics (highlighted).

2022 Exploration Summary

The 2022 Drilling Program was focused on identifying extensions to zones of known Midnight mineralization, areas with potential within and peripheral to the OK and IXL historical mines, and deep targets below the known footprint of mineralization (Figure 1). A total of 31 collar locations are fully permitted for the current program.

The drilling under the 2022 Drilling Program initially collared around the Midnight mine workings on targets from surface to 200 metres depth located to the southeast, east and north of the historical high-grade Baker Vein. These geological targets occurred within and peripheral to the Listwanite (quartz-carbonate-serpentine) zone which straddles the east-northeast trending fault contact between the OK ultramafic intrusion and the Jurassic-age andesite-dominant sequence to the north.

West High Yield brought in a second and third drill to expand the area of immediate interest outside the Midnight-Baker targets and to explore additional and deeper targets from 200 metres to more than 600 metres transecting the andesite-ultramafic contact and below the Baker Vein from the Midnight and neighbouring IXL claims.

The additional drills also targeted high-grade polymetallic Au-Ag-Cu-Pb, massive to stockwork-style silicified andesite-hosted mineralization with pyrrhotite and pyrite reported and observed from the OK Mine area historical drilling and is located between the OK Portal and the Upper Raise on the OK claim 50m east of the Cascade Highway.

Table 3. 2022 Midnight Drilling Program.

The high-grade gold intersections occurred mainly within variably deformed and serpentinized peridotite showing moderate to pervasive quartz-serpentine-carbonate replacement transected by discrete quartz-dominant veins to 50cm and sets of <1-10 mm veinlets with minor to sparse sulphides. The gold occurred within and peripheral to the multi-stage veins and irregular stockwork-style, locally with breccia textures. Massive, finer-grained, weakly altered black peridotite, with 5% to 10% disseminated to microfracture-controlled pyrite and/or pyrrhotite, intersected discrete core intervals of 10-60 metres, consistently west of the Midnight and in the IXL, generally reported lower Au grades (0.2-2.0 g/t Au). These intervals were distinct from the coarser-grained peridotite containing trace sulphides, commonly pyrrhotite, and gold values at or near detection limits (<0.005-0.01 g/t Au).

Coarse-grained pyrrhotite and polymetallic base metal sulphides (Pb, Cu, Mo), typically in vein arrays and breccias, was reported from the hanging wall andesite and basalt flows though gold showed limited values outside the contact zone with the north-easterly alteration trend.

Leapfrog compilation with 2D and 3D mapping, of current and historical drilling and underground workings, and recently-received high-resolution LiDAR orthophoto and bare-earth topographic control, will be used to evaluate structural features and geospatial significance of broad alteration, sulphidation and lithological controls in the mineralizing system.

Geochemical Analysis, Quality Assurance and Quality Control

All core handling was conducted at the secure logging facility on Midnight. All samples were bagged and sealed with numbered security tags under the supervision of the QP and delivered to Overland Transport in Rossland for delivery to ALS Global (“ALS“) in North Vancouver, British Columbia for gold and multi-element analysis. ALS is a facility certified as ISO 9001:2008 and accredited to ISO/IEC 17025:2005 from the Standards Council of Canada. Metal values disclosed herein are reported principally from sawn (1/2) drill core samples over intervals of 30cm to 1.6 metres. Certain friable and broken intervals were processed using a rotary wedge core splitter. The remaining half-core samples are cross stacked on site. Local chain of custody was monitored and maintained directly by the QP and Project Geologist under the direction of the QP.

The samples were crushed to 70% passing 2mm (PREP-31) and a split of up to 250 grams pulverized to 85% passing 75 micrometres (-200 mesh). Pulps (50gram split) were submitted for Au analysis by Fire Assay with Atomic Absorption finish (Au-AA23). The retained pulps also were analyzed by Four Acid Digestion followed by Inductively Coupled Plasma Atomic Emission Spectrometry (ICP-AES) multi-element analyses (ME-ICP61). Over-limit Au and Ag samples were analyzed by Fire Assay with Gravimetric Finish Ore Grade (Au-GRA21 or Au-GRA22, Ag-GRA21). Screen metallics assays were conducted on select ½ core samples to quantify gold distribution in the screen oversize (SCR-24B) and duplicate 50-gram pulps of the screen undersize (Au-GRA22). One 30cm sample of broken core with visible gold was sampled in its entirety through the SCR-24B protocol.

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

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

Qualified Person

Greg Davison, MSc, PGeo, Senior Consulting Geologist to West High Yield, is the Company’s Qualified Person for Midnight and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, under TSX Venture Exchange guidelines.

About West High Yield

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

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

Contact Information:

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

Frank Marasco Jr., President and Chief Executive Officer

Telephone: (403) 660-3488 Facsimile: (403) 206-7159

Email: [email protected]

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

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

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