Mr. Frank Marasco reports

WEST HIGH YIELD ANNOUNCES B.C. MINISTRY OF MINES ACCEPTS RECORD RIDGE INDUSTRIAL MINERAL MINE PERMIT SUBMISSION AND PROVIDES TERMS OF REFERENCE FOR FINAL TECHNICAL REVIEW

West High Yield (WHY) Resources Ltd. has provided an update on the next milestone achieved for obtaining its industrial mining permit for the Record Ridge industrial mineral mine (RRIMM) magnesium deposit located 10 kilometres southwest of Rossland, B.C.

RRIM permit -- final technical review

On May 3, 2023, the British Columbia Ministry of Mines, having completed the screening process of the company's initial RRIMM permit application of Feb. 14, 2019 (inclusive of the company's amended permit application of Feb. 15, 2022), accepted the company's screened permit submissions and issued the terms of reference and work plan (the TOR and proposed work plan) required for the company to proceed into the final review for the permit. The TOR and proposed work plan timeline indicates a starting date of May 24, 2023. A final recommendations report will be submitted by the committee to the statutory decision-makers for a potential final permit decision as early as Aug. 24, 2023.

The following is a process-related excerpt from the ministry's TOR and proposed work plan:

"The Mines Act [Mines Code s. 10.3.2] states the committee must provide advice to the chief permitting officer within 60 days of application acceptance for the Mines Act permit review. Although there are no statutory timelines for applications for other authorizations, a collaborative effort is being made by committee members and the proponent to complete the review within a reasonable time frame (ideally 60 days). If further time is required, a request to the chief permitting officer through the MDRC chair can be made for their consideration."

As previously disclosed in the company's news release dated March 31, 2023, the company submitted all material information, mine site engineering designs and corresponding reports requested by the ministry in response to its questions and comments of July, 2022, stemming from its amended permit application for the project.

While adhering to the established multistep permit process by the ministry, the company initiated a formal request for proposal process to invite interested groundworks contracting companies with expertise in mine site development and on-site road construction to submit bids to the company. The company requested the submission of all bids by June 20, 2023. Upon the permit being granted, the company plans to expedite mine site development for the project and begin mining the ore from RRIM to fulfill the terms contemplated in the letter of intent it signed with APA Galaxy Trade and Technology LLC (as previously news released on Dec. 7, 2021) and to generate cash flow.

"The company is elated to have been notified by the ministry of its decision to advance to the technical review stage. This is a major milestone for the company, and we will vigilantly continue to satisfactorily complete and/or exceed all remaining aspects of the final permit review process. After years of exploration, detailed analysis, engineering, economic evaluation, consultation and environmental due diligence, we believe that the project at Record Ridge has the potential to deliver much-needed critical minerals that underpin modern society. Upon satisfying all requirements set forth by the ministry and obtaining the permit, the company will move forward in mining ore from RRIM with the hope of providing economic stability with a robust and industry-standard level of safety and environmental stewardship. We also understand the importance of engaging the community, indigenous groups, stakeholders, partners, consultants, shareholders and employees to ensure that the benefits of the project are shared by all. We look forward to moving with the next phase of the project, and serving the current and future generations with the utmost responsibility," said Frank Marasco, West High Yield's chief executive officer and president.

Community and stakeholder engagement

As another step in the final review process, the company will be holding community open house consultation sessions in Rossland, B.C., at the Prestige Mountain Resort from 6 p.m. to 8 p.m. (Pacific Daylight Time) on May 17, 2023, and from 4 p.m. to 6 p.m. (Pacific Daylight Time) on May 18, 2023.

The company looks forward to the coming dialogue during the community sessions and completing the final steps of the permit review process.

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 critical mineral magnesium, silica and nickel deposit using green processing techniques to minimize waste and carbon dioxide emissions.

The company's Record Ridge magnesium deposit is located 10 kilometres southwest of Rossland, B.C., and has approximately 10.6 million tonnes of contained magnesium based on an independently produced preliminary economic assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with the National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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