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West High Yield (WHY) Resources Ltd
Symbol WHY
Shares Issued 84,262,051
Close 2023-09-08 C$ 0.285
Market Cap C$ 24,014,685
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West High Yield signs Record Ridge co-op deal with OIB

2023-09-11 11:53 ET - News Release

Mr. Frank Marasco reports

OSOYOOS INDIAN BAND SIGNS COOPERATION AGREEMENT WITH WEST HIGH YIELD RESOURCES FOR THE RECORD RIDGE MAGNESIUM PROJECT

West High Yield (WHY) Resources Ltd. has signed a co-operation agreement with the Osoyoos Indian Band (OIB) regarding the company's Record Ridge magnesium project located near Rossland, B.C.

The project contains critical minerals essential to the development of Canada's green economy and achievement of its climate change goals. It is also in the OIB's asserted traditional territory and the OIB has been actively engaged in the project and permitting process.

The agreement was negotiated based on the company's commitment to advancing sustainability, sound environmental practices, good governance and respecting indigenous rights.

OIB undertook its own independent review of the company's British Columbia Mines Act permit application.

"This agreement recognizes Osoyoos Indian Band's sovereignty over our lands and represents our continued efforts to ensure that our lands are protected and managed in accordance with our wishes, values and principles. This agreement assures us of our oversight of the project, thereby protecting our peoples' environmental and economic interests," said Chief Clarence Louie. "If managed correctly, this critical mineral resource could contribute to a strong and green economy. To date, West High Yield has shown OIB that it is committed to doing this. Our independent review of the company's mining application reinforces our commitment to working with the company going forward. We encourage other companies to follow West High Yield's example and take steps to ensure that indigenous rights are respected and are recognized, while also engaging with stakeholders. We look forward to our ongoing work with Frank Marasco and the company's team to build a long-term, mutually beneficial and environmentally progressive relationship."

"The signing of this co-operation agreement is a testament to the mutual trust and respect that has been established between OIB and the company, working in partnership to responsibly develop the Record Ridge project," said the company's president and chief executive officer, Mr. Marasco. "I would like to acknowledge and thank Chief Clarence Louie, the OIB council and adviser Byng Giraud for their diligence and commitment. West High Yield is committed to leading the way in constructive indigenous engagement and looks forward to additional discussions with other indigenous groups as the project moves forward."

The company continues working with the British Columbia mine development review committee in the final technical permit review process for the successful completion of the Record Ridge mining permit.

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, 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 National Instrument 43-101 preliminary economic assessment technical report prepared by SRK in accordance with the National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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