West High Yield (W.H.Y.) Resources Ltd. Issues Clarifying News Release
Calgary, Alberta--(Newsfile Corp. - September 8, 2023) - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces that, as a result of a continuous disclosure review by the Alberta Securities Commission (the "ASC"), the Company is issuing the following news release to provide clarity regarding its document entitled "NI 43101-TECHNICAL REPORT Pre-Feasibility Study for Record Ridge Magnesia Production" (the " Report"). The Report was filed on SEDAR on November 30, 2022 and a news release highlighting the findings of the Report was disseminated on SEDAR on November 29, 2022 (the " Report News Release").
The Report exclusively focuses on the Company's proposed magnesia ("MgO") plant and the methodology planned for near term MgO production. This report concerning the plant should not be associated with or referred to as a National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") technical report. Given its specific focus on the MgO plant, the Report does not represent a mineral project technical report under NI 43-101. Therefore, any references to the MgO plant Report and the Report News Release, as well as subsequent disclosure of the Company from November 29, 2022 up to and including the date of this news release, should be understood as pertaining solely to the proposed MgO plant and not to the broader mineral project.
For clarity, the Company confirms that its NI 43-101 Preliminary Economic Assessment on its Record Ridge south magnesium project filed on SEDAR on June 4, 2013 remains the Company's current NI 43-101 compliant technical report for its Record Ridge mineral project.
West High Yield remains committed to upholding the highest standards of transparency and compliance in its reporting. The Company will work diligently to address the ASC's concerns and ensure accurate and comprehensive disclosure in all future reports and communications.
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 NI 43-101 Preliminary Economic Assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with NI 43-101.
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488
Barry Baim, Corporate Secretary
Telephone: (403) 829-2246
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 OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180100