WEST High Yield Resources Receives Occupant Licence to Cut and Remove, Marking Another Major Regulatory Milestone at Record Ridge Magnesium Project
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
For Immediate Release
September 16, 2026
Calgary, Alberta
WEST HIGH YIELD RESOURCES RECEIVES OCCUPANT LICENCE
TO CUT AND REMOVE, MARKING ANOTHER MAJOR REGULATORY MILESTONE
AT RECORD RIDGE MAGNESIUM PROJECT
CALGARY, ALBERTA – September 16, 2026 – West High Yield (W.H.Y.) Resources Ltd. (“WHY
Resources” or the “Company”) (TSXV:WHY) (FSE:W0H) is pleased to announce that it has received an
Occupant Licence to Cut and Remove (the “OLTC”) from the British Columbia Ministry of Forests for the
Company’s Record Ridge Industrial Mineral Mine Project (“ RRIMM Project” or the “Project ”) near
Rossland, British Columbia.
The OLTC authorizes the Company to cut, deck and remove Crown timber within an approximately 50.062-
hectare licence area associated with the Project. The authorization represents an important component of
the Project’s construction readiness, enabling the Company, upon satisfaction of the applicable pre -
disturbance requirements, to undertake timber clearing and site preparation activities required in ad vance
of construction.
Receipt of the OLTC represents a major regulatory milestone in the advancement of the RRIMM Project
and further advances the Company’s construction readiness. The OLTC follows the issuance of the
Company’s British Columbia Mines Act permit in October 2025 (the “Permit”) and the British Columbia
Ministry of Transportation and Transit ’s access permit in June 2026, representing continued progress in
advancing the Project’s provincial permitting requirements.
“The receipt of the OLTC is a major milestone for Record Ridge and another important step toward
construction”, said Frank Marasco, President and CEO of West High Yield. “With our Mines Act permit,
highway access p ermit and now the OLTC in place, we continue to advance the key provincial
authorizations while focusing on completing the remaining requirements to position Record Ridge for the
next stage of development. We appreciate the continued efforts of the British Columbia Ministry of Forests
and all parties involved in moving Record Ridge forward.”
The Company continues to advance the remaining environmental authorization process under British
Columbia’s Environmental Management Act, in parallel with its construction-readiness activities. Prior to
commencing timber clearing and associated ground disturbance, the Company will also satisfy the
applicable pre-disturbance requirements under the Permit, including posting the balance of the required
reclamation security.
Project Advancement Update
In parallel with the permitting process, the Company continues to advance multiple workstreams supporting
the development of the RRIMM Project. These include pre-construction planning with Skemxist Solutions
and other project contractors, detailed engineering and mine development planning, metallurgical pilot
testing, Project financing initiatives and commercial activities associated with the development of the
Project.
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The Company is also advancing the technical work required to support the next stage of engineering and
Project development, while progressing its longer-term plans for downstream processing and value-added
magnesium production. These activities are being advanced alongside the remaining regulatory
requirements as the Company continues to position the RRIMM Project as an important North American
critical minerals project.
The Company acknowledges the continued support of the Osoyoos Indian Band (the “ OIB”) and remains
committed to advancing the Project in partnership with OIB and Skemxist Solutions. The Company
continues to work collaboratively with government agencies, Indigenous communities, local stakeholders
and project partners as the RRIMM Project advances toward development.
About West High Yield
West High Yield is a publicly traded mining exploration and development company, established in 2003,
and 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) deposit using green
processing techniques to minimize waste and CO2 emissions.
The Company’s Record Ridge critical mineral deposit is located approximately 10 kilometers southwest of
Rossland, British Columbia. Based on the independently prepared National Instrument 43-101 Preliminary
Economic Assessment titled “Revised NI 43 -101 Technical Report Preliminary Economic Assessment
Record Ridge Project, British Columbia, Canada” prepared by SRK Consulting (Canada) Inc. and dated
April 18, 2013, the deposit contains a Measured and Indicated mineral resource of 43.0 million tonnes at
an average magnesium grade of 24.61%. This corresponds to approximately 10.6 million metric tonnes of
contained magnesium. The technical report was prepared in accordance with National Instrument 43-101
Standards of Disclosure for Mineral Projects and is available under the Company’s profile at
https://www.sedarplus.ca.
Qualified Person
Rick Walker, B.Sc., M.Sc., P.Geo., the Company Geologist, is a Qualified Person as defined in NI 43-101
and has reviewed and approved the technical information in this press release.
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
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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 condit ions 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.
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