19:51:46 EDT Wed 24 Jun 2026
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West High Yield (WHY) Resources Ltd
Symbol WHY
Shares Issued 122,027,123
Close 2026-06-24 C$ 0.345
Market Cap C$ 42,099,357
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West High Yield receives access permit for Record Ridge

2026-06-24 18:13 ET - News Release

Mr. Frank Marasco Jr. reports

WEST HIGH YIELD RESOURCES RECEIVES BC MINISTRY OF TRANSPORTATION AND TRANSIT ACCESS PERMIT FOR RECORD RIDGE MAGNESIUM PROJECT AND ANNOUNCES SECOND TRANCHE CLOSING OF PRIVATE PLACEMENT

West High Yield (W.H.Y.) Resources Ltd. has received an access permit from the British Columbia Ministry of Transportation and Transit, authorizing the construction, use and maintenance of the access and related transportation infrastructure associated with the company's Record Ridge industrial mineral mine (RRIMM) project near Rossland, B.C. The company also confirms, further to its news release of May 21, 2026, that it has closed the second tranche of its previously announced private placement offering of units.

The permit

The permit has been issued pursuant to the British Columbia Transportation Act and authorizes the occupation and use of a ministry right of way required to access the project site, including the approved highway access intersection and associated road improvements.

Receipt of the permit represents another important regulatory milestone in the advancement of the RRIMM project and follows the issuance of the company's British Columbia Mines Act permit in October, 2025. The permit provides the company with the necessary provincial transportation access permissions to support future site development, construction and operation of the project.

"This permit is another significant step forward for the Record Ridge project," said Frank Marasco, president and chief executive officer of West High Yield. "Receipt of this authorization represents an important milestone in the advancement of the project and reflects continued progress toward construction and future production."

The RRIMM project hosts one of the largest known high-grade magnesium and silica deposits under development in North America. Located approximately 10 kilometres southwest of Rossland, B.C., the project is being developed to supply magnesium-bearing industrial mineral ore products while supporting the company's longer-term vision of downstream processing and value-added critical mineral production.

The company continues to advance project planning, detailed engineering, commercialization initiatives, pilot plant testing, and the remaining regulatory authorizations required to fully permit the project for construction and operation, while progressing toward the next phase of project development.

The company believes the advancement of the RRIMM project has the potential to provide substantial long-term economic benefits to the west Kootenay region through employment opportunities, local procurement, infrastructure investment, and increased municipal and regional tax revenues, while maintaining a commitment to responsible environmental stewardship and continuing engagement with indigenous communities and stakeholders.

The company acknowledges the continued support of the Osoyoos Indian Band (OIB) and remains committed to advancing the project in partnership with OIB and Skemxist Solutions, a company formed through a partnership between the OIB and The Sutherland Group of Companies. The company will continue working collaboratively with government agencies, local stakeholders and the community as it advances the project in a manner focused on responsible development and environmental stewardship.

The closing

The closing consisted of the issuance of 2,934,666 units for gross proceeds of $880,399.80. The units were issued at a price of 30 cents per unit, with each unit consisting of one common share of the company and one-half of one common share purchase warrant. Each full warrant, together with 45 cents, entitles the holder thereof to acquire one additional common share for 12 months from the date of the closing. All securities comprising the units issued on the closing will be subject to a trading hold period expiring four months plus one day from the date of issuance.

The proceeds from the closing will be used by the company to cover expenses and development of the RRIMM project and for general working capital purposes and expenses.

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 is located approximately 10 kilometres southwest of Rossland, B.C. Based on the independently prepared preliminary economic assessment, titled "Revised NI 43-101 Technical Report Preliminary Economic Assessment Record Ridge Project, British Columbia, Canada," prepared by SRK Consulting (Canada) Inc. and dated April 18, 2013, the Record Ridge critical mineral deposit contains a measured and indicated mineral resource of 43.0 million tonnes at an average magnesium grade of 24.61 per cent. This corresponds with approximately 10.6 million metric tonnes of contained magnesium. The technical report was prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, and is available under 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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