Calgary, Alberta--(Newsfile Corp. - September 26, 2024) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces that, further to its news release of August 29, 2024, it has closed the first tranche (the "Closing") of its previously announced private placement offering (the "Offering") of units (the "Units").

The Closing consisted of the issuance 905,000 Units for gross proceeds of $181,000. The Units were issued at a price of $0.20 per Unit, and 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$0.30, entitles the holder thereof to acquire one (1) additional Common Share for twelve (12) months from the date of the Closing. All securities comprising the Units issued on the Closing will be subject to a trading hold period expiring four months plus one day from the date of issuance.

The proceeds from the Closing will be used to conclude the Company's permitting process, covering essential operations, general working capital purposes and expenses, and for supporting the Company's planned drilling program for the water monitoring holes at its Record Ridge magnesium deposit, as required by the British Columbia Ministry of Energy, Mines and Low Carbon Innovation.

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 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.