West High works on quarry permit, files 2017 financials

May 1, 2018

2018-05-01 11:56 ET – News Release

Mr. Frank Marasco reports

WEST HIGH YIELD RELEASES 2017 FINANCIAL RESULTS

West High Yield (WHY) Resources Ltd. has released its audited financial statements and management’s discussion and analysis for the year ended Dec. 31, 2017. The audited financial statements and related management’s discussion and analysis for the year ended Dec. 31, 2017, have been filed with Canadian securities regulatory authorities under the company’s profile on SEDAR.

The company previously disclosed details of its proposed private placement with funds to be used for the continuation of the environmental base line study, environmental assessment study, mine plan and permit application, and industrial quarry permit application for the company’s Record Ridge deposit near Rossland, B.C., and the balance of the net proceeds will be used for general corporate purposes.

Industrial quarry permit

The company has commissioned work on an industrial quarry permit application for its Record Ridge South Magnesium Project. The industrial quarry permit sought under the Mines Act (British Columbia) will allow for the extraction and sale of up to 249,999 tonnes per year of industrial rock. It is anticipated that industrial rock sales and/or third-party ore processing will provide 2019 cash flows from operations while continued mine plan and permit application efforts are being made. The industrial quarry permit application process are being led by Greenwood Environmental and SRK Consulting (Canada) both of Vancouver, British Columbia. The proposed rock quarry is not subject to the Environmental Assessment Act (British Columbia) or the Canadian Environmental Assessment Act. The company anticipates delivery of the industrial quarry permit during May 2018.

British Columbia Environmental Assessment Application and Mine Permit Application

The company continues to prepare a Mine Permit Application and British Columbia Environmental Assessment Application requesting the extraction and processing on site of up to 1,000,000 tonnes per year of ore. It is expected this application will be submitted in 2019.

As required to meet and exceed regulatory requirements, the company has focused on extensive environmental baseline studies for its Record South Ridge Properties and surroundings. These studies include Water Quality, Fisheries, Vegetation, Soil, and a comprehensive GIS Terrestrial Ecosystem Mapping. In addition to these studies the company will be fully consulting with Community and First Nations Stakeholders. These studies and the Project Description and Environmental Work Planning is being conducted by Greenwood Environmental and SRK Consulting (Canada) both of Vancouver, BC. Considerable work has been completed by the company and its consultants to advance the company’s proposed British Columbia Environmental Assessment Certification Application process.

About West High Yield

West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties.

We seek Safe Harbor.

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