West High Yield begins drilling at Midnight

May 3, 2022

2022-05-03 11:42 ET – News Release

 

Mr. Frank Marasco Jr. reports

WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. ANNOUNCES GOLD DRILLING KICKOFF AND PROCEEDS FROM EXERCISE OF WARRANTS

Further to West High Yield (WHY) Resources Ltd.’s news release dated April 5, 2022, gold drilling commenced on April 30, 2022, at the company’s Midnight gold claim located in the Rossland gold camp area, British Columbia, pursuant to its 2022 gold drill program. The company also announces the receipt of proceeds from the exercise of certain securities of the company.

2022 program

As highlighted in the company’s news release dated April 5, 2022, West Kootenay Diamond Drilling Services Ltd. (the contractor), which the company signed a drilling contract with to carry out the 2022 program, will drill holes of up 20,000 feet on the project site with the objective to test deeper areas considered as having a high potential to extend the footprint of the known mineralization on the project site. The company anticipates being able to further define the gold mineralization on the project site in order to allow the company to proceed with a mineral resource estimate pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Frank Marasco Jr., president and chief executive officer of West High Yield, commented: “I am pleased that, as soon as weather conditions permitted, the contractor team mobilized all drill equipment and support infrastructure to start drilling so quickly at the project site. Building on the company’s previously released 2009 drill results, West High Yield has excellent targets to test and, with this strong start to the 2022 program, the company fully expects to drill all the planned targeted holes with considerable promise and expand the mineralized footprint at the project site with higher-grade cores.”

The company looks forward to sharing the results of the 2022 program as soon as assay results are available from a qualified third party assay lab. For more detailed information about the company’s previous gold drilling results, please refer to the company’s news release dated Sept. 24, 2020, or its website.

Proceeds from exercise of warrants

The company further announces that it has received proceeds totalling $150,000 from the exercise of common share purchase warrants. One holder of warrants exercised an aggregate of one million warrants resulting in the issuance of 500,000 common shares of the company. Two warrants permitted the warrantholder to acquire one warrant share at an exercise price of 30 cents per warrant share. The warrants were issued in connection with a private placement financing of the company which closed in April of 2021.

About West High Yield (WHY) Resources Ltd.

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 deposit using green processing techniques to minimize waste and carbon dioxide emissions.

We seek Safe Harbor.

http://www.whyresources.com/news/

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