West High Yield (W.H.Y.) Resources Ltd. Submits Amended Industrial Magnesium Mine Permit Application
Calgary, February 15, 2022 - West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to announce that it has submitted its amended Joint Mines Act/Environmental Management Act Permit Application (the "Amended Application") to the British Columbia Ministry of Mines (the "Ministry") for the development and operation of its Record Ridge Industrial Mineral Mine Project near Rossland, British Columbia (the "Project"). The additional information provided to the Ministry in the Amended Application is in response to feedback received from the Ministry stemming from its review of the Company's initial Joint Mines Act/Environmental Management Act Permit Application (the "Joint MA/EMA Application") submitted to the Ministry on February 14, 2019.
The Company initially retained Greenwood Environmental Inc. and SRK Consulting (Canada) Inc. (together, the "Consultants") in 2019 to be co-lead consultants in pursuit of an industrial mineral mine permit (the "Permit") for the Project. The Consultants assisted the Company in the submission of the Joint MA/EMA Application. For applications such as the one submitted by the Company, the Ministry has established a multi-step application review process where major issues are identified upfront, followed by a detailed review. West High Yield has worked with the Consultants to address the Ministry's information requests and to work towards the submission of the Amended Application. The Ministry will review the Amended Application and determine if it meets the requirements to commence the detailed technical review phase, or if the Company needs to provide additional information.
Frank Marasco Jr., President and CEO of West High Yield, stated: "The Company has been working diligently with the Ministry, Consultants and stakeholders to complete the permit process so that the Company is able to fulfill its commitments of mining and selling ore from the Project, and having adequate feedstock in place for its planned semi-commercial plant. We consider this milestone as a critical step for the commercialization of the Company in its efforts to facilitate sustainable job creation, generate cash flow and secure future markets for high purity magnesium and silica products that have the potential to be produced from the Record Ridge project."
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.
Contact Information:
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@whyresources.com
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.
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