07:10:58 EST Wed 03 Dec 2025
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or Name
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CA



West High Yield (WHY) Resources Ltd
Symbol WHY
Shares Issued 115,880,039
Close 2025-12-02 C$ 0.395
Market Cap C$ 45,772,615
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West High completes first phase of reclamation bond

2025-12-02 20:49 ET - News Release

Mr. Frank Marasco Jr. reports

WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. CORPORATE UPDATE: INITIAL RECLAMATION BOND POSTED, PERMIT CONDITIONS ADVANCING, AND CONSTRUCTION PATHWAY STRENGTHENING FOR 2026

West High Yield (W.H.Y.) Resources Ltd. has provided a corporate update highlighting the posting of the initial reclamation bond for its Record Ridge magnesium and critical minerals project, located 10 kilometres (km) southwest of Rossland, B.C., along with continuing advancement of key permit conditions and preconstruction activities. Since receiving its Mines Act permit from the British Columbia Ministry of Mines and Critical Minerals for the project, the company has accelerated work across regulatory, environmental, engineering and capital planning streams in preparation for targeted construction mobilization in the second quarter of 2026.

Initial reclamation bond posted -- advancing permit condition fulfilment

West High Yield has formally completed the first phase of the reclamation bond with the British Columbia Ministry of Mines and Critical Minerals, fulfilling a key British Columbia Mines Act permit requirement and a key marker of derisking the Record Ridge project. This milestone:

  • Reduces regulatory timeline uncertainty;
  • Confirms alignment with provincial environmental and closure requirements;
  • Progresses the project toward full construction authorization.

"We continue to move the Record Ridge project forward in a disciplined and structured manner," stated Frank Marasco Jr., president and chief executive officer of West High Yield. "Posting the initial reclamation bond and executing the early-stage permit requirements demonstrate our commitment to responsible development and to maintaining strong momentum following the issuance of the Mines Act permit."

Environmental and groundwork activities strengthen 2026 construction readiness

Since the issuance of the permit, the company has advanced a sequence of predevelopment tasks required ahead of site mobilization, including:

  • A comprehensive vegetation audit covering the access corridor and mine footprint;
  • Tree marking and footprint delineation to refine the disturbance boundaries and engineering detail;
  • Baseline site preparation work to support final design and contracting.

These activities advance the company toward the project construction readiness, enabling mobilization in the second quarter of 2026, subject to final financing and regulatory co-ordination.

Strategic capital pathway: government programs and private financing advancing

The company is actively advancing both government and private-sector financing initiatives as part of its structured capital strategy for the Record Ridge project. This includes continuing engagement with federal and provincial critical mineral funding programs, as well as continued discussions with institutional lenders, international strategic groups and private investors seeking long-term exposure to magnesium and related critical minerals.

These financing pathways are intended to support the phased development of Record Ridge, including initial mine construction and future downstream processing opportunities within Canada's growing critical minerals supply chain.

Record Ridge positioning

The Record Ridge project remains well positioned as one of the few permitted critical mineral projects of its scale in Canada. The company continues to advance the technical, regulatory and financial work required to transition the project toward phased development and long-term integration into the North American critical minerals supply chain.

About West High Yield (W.H.Y.) Resources Ltd.

West High Yield is a publicly traded junior mining exploration and development company, established in 2003, and focused on acquiring, exploring and developing mineral resource properties in Canada. Its primary objective is to develop its Record Ridge critical mineral (magnesium, silica and nickel) deposit using green processing techniques to minimize waste and CO2 (carbon dioxide) emissions.

The company's Record Ridge critical mineral deposit, located 10 kilometres southwest of Rossland, B.C., has approximately 10.6 million tonnes of contained magnesium based on an independently produced National Instrument 43-101, Standards of Disclosure for Mineral Projects, preliminary economic assessment technical report (titled "Revised NI 43-101 Technical Report Preliminary Economic Assessment Record Ridge Project, British Columbia, Canada") prepared by SRK Consulting (Canada) Inc. on April 18, 2013, in accordance with NI 43-101, which can be found on the company's profile on SEDAR+.

Qualified person

Rick Walker, BSc, MSc, PGeo, the company geologist, is a qualified person as defined in NI 43-101, and has reviewed and approved the technical information in this news release.

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