Osoyoos Indian Band Limited Partnership Signs Letter of Intent to Construct and Operate Record Ridge MINE
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
For Immediate Release
June 14, 2024
OSOYOOS INDIAN BAND LIMITED PARTNERSHIP SIGNS LETTER OF INTENT TO
CONSTRUCT AND OPERATE RECORD RIDGE MINE
CALGARY, ALBERTA – June 14, 2024 – West High Yield (W.H.Y.) Resources Ltd. (" WHY
Resources" or the "Company") (TSXV: WHY) is pleased to announce the signing of a Letter of Intent (the
"LOI") with Skemxist Solutions ("SKM") (an Osoyoos Indian Band ("OIB") limited partnership with the
Sutherland Group of Companies (“SGC”)). The LOI contemplates the provision of road construction, site
preparation, mining operations and various support services to the Company for its Record Ridge Industrial
Mineral Mine ("RRIMM”) near Rossland, British Columbia.
The RRIMM project contains critical minerals essen tial to the development of Canada’s green economy
and achievement of its climate change goals. It is projected to produce up to 200,000 tonnes of magnesium
ore per annum over an initial two-year period.
"Governments talk a lot about the importance of criti cal minerals and reconciliation, but WHY Resources
is walking the walk here", said OIB Chief Clarence Louie. "So British Columbia needs to move this ahead
now – for the benefit of Canada, and for OIB’s economic independence. "
The LOI builds on an earlier cooperation agreement si gned between the Company and OIB, and follows
the OIB’s own independent review and continued oversight of the RRIM project, which is located is in the
OIB’s asserted traditional territory.
"From the outset, we have committed to doing the RRIM project right", said WHY Resources’ President
and CEO Frank Marasco. "This LOI, and the numerous commitments we have already made to address
community input, shows we are serious about that".
Chris Sutherland, founder of Sutherland Group of Companies, stated: "We are excited to partner with West
High Yield Resources and the Osoyoos Indian Band on th is significant project, and we look forward to
getting shovels in the ground."
The Company is in the latter stages of seeking its permits through the BC Mine Development Review
Committee, and hopes to conclude negotiation of a definitive agreement with SKM in the weeks ahead.
ABOUT SKEMXIST SOLUTIONS
At Skemxist Solutions, we blend the enduring wisdom of the Osoyoos Indian Band (OIB) with industry
expertise, creating a legacy of harmony between tr adition and progress. Our commitment extends across
various sectors, providing exceptional heavy industry solutions including project consulting, road building
& maintenance, drilling & blasting, civil construction, harvesting, marine services, aggregates, and
transportation. Website: www.SkemxistSolutions.ca.
ABOUT OSOYOOS INDIAN BAND (OIB)
Rooted in traditional principles of hard work and a deep connection to the land, the OIB has evolved into a
thriving business culture. Our location, the richness of our land, and our commitment to engaging with the
world contribute to the success of businesses on ou r traditional territory. The Osoyoos Indian Band
Development Corporation plays a crucial role in providing jobs, funding community priorities, and
investing in programs and services that enhance the well-being of our people. Website: www.oib.ca.
ABOUT THE SUTHERLAND GROUP OF COMPANIES
The Sutherland Group of Companies is dedicated to solving complex heavy industry problems through
integrated management solutions. Since 1995, we have been an integrated network of heavy industry
experts, offering a comprehensive range of services sp anning equipment, logistics, personnel, and safety.
Our domain experts specialize in roadbuilding & maintenance, drilling & blasting, harvesting, chipping &
grinding, aggregate sales, marine services, heavy e quipment repair, and trans portation services. Website:
www.TheSutherland.Group.
ABOUT WEST HIGH YIELD
West High Yield is a publicly traded junior mining exploration and development company focused on the
acquisition, exploration, and deve lopment of mineral resource properties in Canada with a primary
objective to develop its Record Ridge magnesium, s ilica, and nickel deposits 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 Ec onomic 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 statem ents 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 b ased 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 re sults to differ materially from those expressed in the
forward-looking information include, but are not limited to: general ec onomic conditions in Canada and
globally; industry conditions, including governmental re gulation; failure to obta in industry partner and
other third party consents and a pprovals, if and when required; th e availability of capital on acceptable
terms; the need to obtain required approvals from regul atory 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 th is forward-looking information, which is given as
of the date hereof, and to not use such forward-l ooking 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. p ersons except in certain transactions exempt from the
registration requirements of the U.S. Securities Act.
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(AS THAT TERM IS DEFINED IN THE POLI CIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.