Saturday, September 26, 2026
MiningNewsTerminal
Saturday, September 26, 2026 Admin

WHY.V ·

WEST High Yield Provides a Corporate Update

Corporate Updates

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

For Immediate Release

April 5, 2023

Calgary, Alberta

WEST HIGH YIELD PROVIDES A CORPORATE UPDATE

CALGARY, ALBERTA – April 5, 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 status of its mining permit progress for the

Record Ridge magnesium deposit located 10 kilometres southwest of Rossland, British Columbia ("Record Ridge"

or the " Project") and on the status of its nearby Midnight Gold drilling program (the " Midnight Gold Drilling

Program").

Record Ridge Mining Permit

As of March 31, 2023, the Company has submitted all mater ial information, mine site engineering designs, and

corresponding reports requested by the British Columbia Ministry of Mines (the " Ministry") in response to its

questions and comments of July 2022 stemming from its amended permit application for Record Ridge Industrial

Critical mineral mine. The Ministry has a multi-step pe rmit review process where major issues are identified

upfront, followed by a detailed technical review. The Comp any and its consultants are scheduled to meet with the

Ministry in the near future to discuss the Ministry’s feedback on the requested material that has been submitted by

the Company and to determine the next steps forward.

While adhering to the established permit process, the Comp any is also initiating a formal Request for Proposal

(RFP) process to invite interested groundworks contracting companies with expertise in mine site development and

on-site road construction to submit th eir bids. The Company has already received engineering drawings for mine

site development from SRK Consulting (www.srk.com) and has held previous discussions with site development

contractors and mining contractors. The Company is requesting the submission of bids by June 30 th, 2023. Once

the mining permit is granted, the Company plans to exped ite mine site development and begin mining the ore to

fulfill the terms as contemplated in the Galaxy Magnesium LOI of December 6, 2021, which aims to sell Record

Ridge ore @ USD$ 500/tonne and generate cash flow.

"The Company, has been diligent in addressing all requests from the Ministry and remains vigilant in seeing the

Record Ridge Permit process through to completion. The Company in conjunction with the Consultants, is working

persistently to successfully complete the Permit process as soon as po ssible,” said Frank Marasco Jr., West High

Yield’s Chief Executive Officer and President.

Midnight Gold Drilling

As previously press released, the Midnight Gold Drilli ng Program of 2022 yielded positive results in multiple

intervals and zones. While the 2022 Midnight Gold Drilli ng of all planned holes was completed, core cutting,

logging, and assaying of approximately 800 meters could not be completed due to inclement weather that forced

operations to cease earlier than expected. The Company plans to resume the core cutting, logging, and assaying as

soon as site access is safe and weather conditions allow, with an expected start date of May and completion in 4-6

weeks. The Company will be releasing additional gold drilling results from the Midnight Gold Drilling Program as

they become available.

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 Facsimile: (403) 206-7159

Email: [email protected]

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements a nd 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. A lthough the Company believes that the expectations and

assumptions on which such forward-looking statements a nd information are based are reasonable, undue reliance

should not be placed on the forward-looking statemen ts 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 manageme nt 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 econom ic conditions in Canada and globall y; 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 require d 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 regis tered 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 ce rtain transactions exempt from the reg istration 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.