WEST High Yield Provides a Corporate Update
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.