WEST High Yield (W.h.y.) Resources Ltd. Publishes Public Notice of Application FOR Record Ridge Magnesium Project and Announces Second Tranche Closing of Private Placement
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
For Immediate Release
April 18, 2024
Calgary, Alberta
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. PUBLISHES PUBLIC NOTICE OF
APPLICATION FOR RECORD RIDGE MAGNESIUM PROJECT AND
ANNOUNCES SECOND TRANCHE CLOSING OF PRIVATE PLACEMENT
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.
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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.
1374-5127-0155, v. 1
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.