Calgary, Alberta--(Newsfile Corp. - September 19, 2024) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") is pleased to announce that, further to its news release dated August 29, 2024, the Company had a productive forward-focused meeting with the British Columbia Ministry of Energy, Mines and Low Carbon Innovation (the "EMLI") on September 4, 2024 (the "EMLI Meeting"). During this meeting, the Company outlined its revised permit application (the "Amended Application") for carrying out the extraction and production of critical minerals (the "RRIMM Project") at its Record Ridge Industrial Mineral Mine (the "RRIMM"), which included a reduction in the proposed tonnage output to fall under the threshold set by the British Columbia Environmental Assessment Office ("EAO") for reviewable projects for Mineral mines.
The Company is also pleased to report that its consultants acted expeditiously and submitted the Amended Application to EMLI on September 17, 2024. In addition, fulsome responses to all previous comments from the British Columbia Mine Development Review Committee ("MDRC") had already been satisfactorily submitted.
During the EMLI Meeting, the Company outlined its updated approach, which involves reducing the RRIMM Project's annual tonnage to 63,500 metric tonnes to remain below 15% of the 75,000 metric tonnes annual threshold set by the EAO for a mineral mine, alongside minor adjustments to the overall mine plan for the RRIMM. EMLI Meeting participants encouraged the Company to proceed with these revisions. The Amended Application is now awaiting review by the MDRC, which will provide feedback and outline the next steps in the permit process for the RRIMM.
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) deposit using green processing techniques to minimize waste and CO2 emissions.
The Company's Record Ridge critical mineral 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 (titled "Revised NI 43-101 Technical Report Preliminary Economic Assessment Record Ridge Project, British Columbia, Canada") prepared by SRK Consulting (Canada) Inc. on April 18, 2013 in accordance with NI 43-101 and which can be found on 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 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.
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.
