Category: 2024

CALGARY, ALBERTA – (April 18, 2024) West High Yield (W.H.Y.) Resources Ltd. (the “Company” or “West High Yield“) (TSXV:WHY) is pleased to announce another milestone in the mining permit application process with the posting of its “PUBLIC NOTICE OF APPLICATION”(the “Public Notice“), as well as the second tranche closing (the “Second Tranche Closing“) of its previously announced private placement offering (the “Offering“) of units (the “Units“).

Publication of Notice of Application

The Public Notice, which is a requirement in the Company’s permit process as requested by the British Columbia Ministry of Mines and Low Carbon Innovation, was published on April 18, 2024 in the Rossland News (Follow the link to Rossland News – Notice of Application) and the Trail Times (Follow the link to Trail Times News – Notice of Application) . The Public Notice pertains to the submission of the Company’s “Joint Mines Act and Environmental Management Act Permit Application” (the “Application“) for its Record Ridge Industrial Mineral Mine project (the “Project“). The Application, filed with the Chief Inspector of Mines, aligns with Part

10.2.1 of the Health and Safety Reclamation Code for Mines in British Columbia.

Located approximately 7.5 km west-southwest of Rossland, British Columbia, the proposed Project spans Mineral Claim #514607 (318 ha) and Mineral Claim #513794 (127 ha). Under the review of the Regional Mines Office of the British Columbia Ministry of Energy, Mines and Low Carbon Innovation, the Project invites public comments from stakeholders and interested parties.

The Project aims to extract magnesium-bearing serpentinite rock at a rate not exceeding 200,000 tonnes per year. Operations entail conventional open pit methods, including drilling, mechanical ripping/blasting, loading, crushing, and off-site transportation of crushed rock to Washington State for processing by a third-party facility.

In adherence to British Columbia Environmental Management Act standards, the proposed effluent discharge from the Project will be treated to meet specific parameters before release into the upper reach of Sophia Creek, British Columbia. The effluent discharge, originating from water in contact with the mining operation, will undergo sedimentation pond treatment, with characteristics including pH levels estimated between 6 to 9 and controlled levels of various elements.

Second Tranche Closing

In addition to the foregoing and further to its news releases of February 26, 2024, March 14, 2024 and April 10, 2024, the Second Tranche Closing under the Offering consisted of the issuance of 1,210,000 Units for total proceeds of $302,500.

Each Unit consists of one (1) Common share of the Company (each, a “Common Share“) and one (1) Common Share purchase warrant (each, a “Warrant“). Each Warrant, together with CAD$0.35, entitles the holder thereof to acquire one (1) additional Common Share until April 18, 2025. All securities comprising the Units issued on the Second Tranche Closing will be subject to a trading hold period expiring four months plus one day from the date of issuance.

The proceeds from the Second Tranche Closing will be used to support the Company in furthering its permitting process and covering general working capital.

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 (April 10, 2024) – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) announces that, further to its news releases dated February 26, 2024 and March 14, 2024, it has received an extension from the TSX Venture Exchange (the “TSXV“) with respect to the final acceptance date of its previously announced private placement offering (the “Offering“) of units (each, a “Unit“).

The outside date for the final closing and filing acceptance of all final documentation required by the TSXV in respect of the Offering has been extended from April 11, 2024 to May 10, 2024 (the “Extension Date“).

The terms of the Offering and the Units will stay the same up to and including the Extension Date, and the Offering remains subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSXV.

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.

1412-4597-0955, v. 1

 

CALGARY, ALBERTA (March 27, 2024) – West High Yield (W.H.Y.) Resources Ltd. (the “Company” or “West High Yield“) (TSXV:WHY) is pleased to announce that its board of directors approved and authorized the grant and issuance of a total of 1,578,000 stock options (each an “Option” and collectively, the “Options“) effective March 25, 2024.

1,160,000 of the Options were issued to the members of the board of directors of the Company; 60,000 of the Options were issued to one (1) officer of the Company; and 403,000 of the Options were issued to four (4) different consultants of the Company. One (1) Option entitles the holder thereof to purchase one (1) common share of the Company (each a “Share” and collectively, the “Shares“). All of the Options vest on their date of grant and have a term of 10 years from their date of grant. The exercise price of the Options was set at CAD$0.23 per Share, which was above the closing trading price of the Shares on the TSX Venture Exchange (the “TSXV“) on their date of grant.

The grant of the Options is subject to the approval of the TSXV.

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.

1379-4765-2107, v. 2

 

CALGARY, ALBERTA (March 14, 2024) – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) announces that, further to its news release of February 26, 2024, it has closed the first tranche (the “Closing“) of its previously announced private placement offering (the “Offering“) of units (the “Units“).

The Closing consisted of the issuance of 2,114,000 Units for gross proceeds of $528,500. The Units were issued at a price of $0.25 per Unit, and each Unit consists of one (1) Common share of the Company (each, a “Common Share“) and one (1) Common Share purchase warrant (each, a “Warrant“). Each Warrant, together with CAD$0.35, entitles the holder thereof to acquire one (1) additional Common Share until March 14, 2025. All securities comprising the Units issued on the Closing will be subject to a trading hold period expiring four months plus one day from the date of issuance

The proceeds from the Closing will be used to support the Company in furthering its permitting process and covering general working capital.

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.

1395-9834-2666, v. 3

 

CALGARY, ALBERTA (February 26, 2024) – West High Yield (W.H.Y.) Resources Ltd. (the “Company” or “West High Yield“) (TSXV:WHY) is pleased to announce a non-brokered private placement offering for the sale of up to 3,800,000 units of the Company (the “Units“) at a price of CAD$0.25 per Unit for aggregate gross proceeds of up to CAD$925,000 (the “Offering“). The Company also announces that it has engaged Outside The Box Capital Inc. (“OTBC“) to provide marketing services to the Company in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange (“Exchange“) pursuant to the terms of a marketing agreement (the “Marketing Agreement“).

Offering

Each Unit issued under the Offering will consist of one (1) common share of the Company (each, a “Share“) and one (1) Common Share purchase warrant (each, a “Warrant“). Each Warrant, together with CAD$0.35, will entitle the holder thereof to acquire one (1) additional Common Share for a period of twelve (12) months from each Warrant’s date of issuance. The Warrants will not be listed on the TSXV. The Company may pay a finder’s fee in connection with the Offering to eligible finders in accordance with the policies of the TSXV and applicable Canadian securities laws consisting of: (i) a cash commission of up to 6% of the gross proceeds of the Offering; and (ii) common share purchase warrants (the “Finder’s Warrants“) of up to 6% of the number of Units issued under the Offering. The Finder’s Warrant will have identical terms to the Warrants.

The Offering will be completed pursuant to certain exemptions from the prospectus requirements under applicable Canadian securities laws. All securities issued under the Offering are subject to a statutory hold period from their date of issue in accordance with applicable Canadian securities laws. None of the Units will be registered under the United States Securities Act of 1933, as amended, and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

The proceeds from the Offering will be used for supporting the Company’s pilot testing project, concluding its permitting process, covering essential operations and general working capital purposes and expenses. The Offering is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals, including the acceptance and approval of the TSXV.

Marketing Agreement

Pursuant to the Marketing Agreement, OTBC will provide marketing and distribution services to communicate information about the Company to the public. In consideration for the provision of the services by OTBC under the Marketing Agreement, West High Yield has agreed to pay OTBC a fee of CAD$60,000. The Marketing Agreement has a fixed term, expiring on August 12, 2024, and the Marketing Agreement shall expire on such date unless the parties desire to renew the terms and term of the Marketing Agreement thereafter.

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 (February 1, 2024) – West High Yield (W.H.Y.) Resources Ltd. (the “Company” or “West High Yield“) (TSXV:WHY) is pleased to announce that it has engaged Velocity Trade Capital Ltd. (“Velocity Trade“) to provide market-making services to the Company in accordance with applicable securities laws and the policies of the TSX Venture Exchange (“Exchange“) pursuant to the terms of a liquidity program services agreement (the “Services Agreement“).

Services Agreement

Pursuant to the Services Agreement, Velocity Trade will manage trading of the Company’s securities listed on the Exchange from time to time for the purposes of maintaining an orderly market, with a view to reducing trading volatility and improving the liquidity of the Company’s securities. The funding and securities required for these services undertaken will be provided by Velocity Trade.

In consideration for the provision of the services by Velocity Trade under the Services Agreement, West High Yield has agreed to pay Velocity Trade a monthly fee of $5,000 per month. The Services Agreement has a minimum set term of sixty days, after which either party may terminate the Services Agreement by providing the other with not less than 30 days prior written notice of termination.

Termination of Letter Agreement

The Company also announces that it has effectively terminated the letter agreement with Red Cloud Securities Inc., originally announced on November 30, 2022, said termination taking effect as of January 31, 2024.

About Velocity Trade

Velocity Trade is a private and independent investment dealer headquartered in Toronto, Ontario, and registered for trading in the provinces of Ontario, British Columbia, Alberta, and Manitoba. Velocity Trade is a member of the TMX, and of the Canadian Investment Regulatory Organization. Additionally, the firm and its affiliate companies are regulated internationally by the UK’s Financial Conduct Authority (FCA), the Authority for Financial Markets (AFM) in the Netherlands, the Australian Securities and Investment Commission (ASIC), South Africa’s Financial Sector Conduct Authority (FSCA), and the Monetary Authority of Singapore, among others.

Velocity Trade and West High Yield are not related parties and have no other agreements other than the market liquidity agreement which is the subject of this news release.

The engagement of Velocity Trade to provide market liquidity services to West High Yield is subject to acceptance of the Exchange.

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 (January 31, 2024) – West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company“) (TSXV:WHY) announces that the Company has entered into loan amending agreements with Big Mountain Development Corp Ltd. (the “Lender“).

The Lender has provided term loans (collectively, the “Loans“) to the Company in the aggregate amount of

$3,339,485 (the “Total Loan Amount“), as further set forth in the Company’s quarterly and annual financial statements. $2,589,485 of the Total Loan Amount, with interest owing and accruing thereon, became due and owing on December 31, 2021. $750,000 of the Total Loan Amount, with interest owing and accruing thereon, became due and owing on April 28, 2022.

While both Loans have surpassed their respective maturity dates, the Lender has been working with the Company to ensure its financial success and to amend the terms of the Loans to ensure the Company can repay the indebtedness owed to the Lender. In furtherance of these negotiations, the Lender has agreed to extend the expiry date of both Loans to December 31, 2024 (the “New Maturity Date“) in consideration for the Company paying a loan extension fee to the Lender, which shall become due and payable to the Lender along with the Total Loan Amount and interest owing and accruing thereon on the New Maturity Date.

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 – January 15, 2024 – 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 for its Record Ridge Industrial Mineral Mine (“RRIMM” or the “Project“) and to invite investors and other interested parties to join an upcoming interview with Market Radius Research.

Following the Company’s October 25, 2023 press release announcing the submission of the RRIMM amended permit application (the “Amended Permit Application“), the Company participated in the next step of the Application by meeting with the Mine Development Review Committee (“MDRC“) committee on December 6, 2023. At this meeting, the Company provided MDRS with an update and answered questions regarding the Amended Permit Application and a corresponding socio-economic report thereon. The MDRC committee chair, after having received the Company’s submissions at the December 8, 2023 meeting, requested that the MDRC provide technical comments to the Company relative to the Amended Permit Application by January 15, 2024. The Company, in conjunction with its consultants, will address the comments it receives from the MDRC before its next scheduled meeting with the MDRC set for February 14, 2024. The Company anticipates further feedback and details at this February 14, 2024 meeting pertaining to the next steps in the technical review process of the Amended Permit Application.

As previously communicated, the Company outlined numerous proposed Project mitigation strategies to address concerns and interests that had been expressed through its public engagement efforts, announced by the Company in a press release dated July 4, 2023. The positive changes to the Project were incorporated into the Amended Permit Application with the utmost consideration for the environment, the community, and all associated stakeholders. West High Yield eagerly anticipates the next phase of the MDRC technical review process while it awaits feedback from the MDRC committee members. The Company continues to plan for RRIM mine site construction development and mining during 2024.

Radius Research Webinar

The Company has confirmed a webinar with Martin Gagel of Market Radius Research to discuss the Project in further detail. Market Radius Research gives individual investors access to in-depth CEO interviews with deep-dive institutional level discussion and Q&A. Market Radius Research is hosted by Mr. Gagel, a former top-ranked technology analyst.

Accompanying Mr. Gagel will be the following Company representatives: Frank Marasco Jr., director, Chief Executive Officer and President; Barry Baim, director and Corporate Secretary; and Fouad Kamaleddine PhD/P.Eng, strategic advisor. The information for the webinar is as follows:

Event: Radius Research Pitch, Deep Dive, and Q&A with West High Yield Resources Ltd.

Presentation Date & Time: Wednesday, January 17, 2024 at 1:00 PM ET / 10:00 AM PT

Webcast Registration Link: https://us02web.zoom.us/webinar/register/2017050004112/WN_3zej1Ip4SVa2nDhmwsapYA

The webinar will be a live, interactive online event where attendees will be invited to ask the Company representatives questions in real-time following the interview portion of the webinar. An archived webcast will be made available for those who cannot join live on the day of the webinar.

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.