West High Yield

Investor Insight

West High Yield’s advanced-stage Record Ridge magnesium mine project backed by a compelling pre-feasibility study, in the final stages of the technical review of the permit application and has the support of the Osoyoos Indian Band, are some of the strong factors that merit investor attention.

Overview

West High Yield (TSXV:WHY,FSE:W0H) is an exploration and development mining company focusing on critical minerals with a high-grade magnesium/silica/nickel project nearing production. The company’s Record Ridge property project leverages the opportunity to create a new supply of magnesium outside of China and Russia. West High Yield has an experienced management team ready to bring its project to production.

Demand for magnesium is growing in multiple verticals, including the renewable energy sector and pharmaceutical industry. In addition, magnesium is a necessary mineral to reach global net-zero emissions goals by 2050. These global dynamics highlight the need to develop an on-shore, secure and strategic critical mineral domestic supply chain for magnesium/silica/nickel amid continuing supply shortages.

No matter what decarbonization path one follows, the metals and mining sector that mines and processes critical minerals will be at the core of enabling the energy transition that underpins modern society.

The Record Ridge asset has one of the largest and highest-grade magnesium/silica deposits in North America, and globally. The company’s resource estimate shows 43 million tonnes (Mt) of ore at 24.6 percent magnesium, which implies a world-class asset containing 10.6 Mt of magnesium. In addition, West High Yield’s pre-feasibility study indicates strong economics with an after-tax NPV of 5 percent of $872 million, an internal rate of return (IRR) of 72 percent over a 172-year mine life, and payback in 1.5 years.

Additionally, the company has developed a green mining and refinement process to minimize carbon emissions during production. This green process utilizes over 90 percent of the ore extraction, not only of magnesium but saleable quantities of silica, nickel and iron. Magnesium is widely used in renewable energy technologies, so maintaining a strong ESG rating is essential for downstream manufacturing.

WHY continues to consult with the local community and the government throughout the permitting process for Record Ridge. In July 2023, the company announced a series of mitigation strategies to address concerns that have been raised through the public engagement process, including: substituting the use of explosives with mechanized equipment for ore extraction; implementing enclosed environments for crushing equipment to effectively manage dust and noise; and exploring the option for an alternative trucking route to avoid passing through the city streets of Rossland, BC.

An experienced management team with expertise throughout the mining industry leads the company towards fully leveraging its promising asset. Experts in geology, corporate administration and engineering create confidence in the team’s ability to reach its goals.

Company Highlights

• West High Yield (TSXV:WHY,FSE:W0H) is an exploration and development mining company focusing on its advanced-stage critical mineral magnesium/silica/nickel asset nearing production.
• The company’s flagship Record Ridge asset has the potential to strengthen and secure the North American on-shore critical mineral magnesium/silica/nickel supply chain and reduce dependence on China and Russia’s production.
• Magnesium is used throughout several verticals, such as aerospace, clean energy, and pharmaceuticals, and as a potential disrupter in the battery segment. These multiple applications of critical minerals continue to widen the gap between growing demand and dwindling supply creating an opportunistic tailwind for WHY Resources and the development of the Record Ridge project.
• Silica has been added as a critical mineral to the Department of Energy’s US list of critical minerals in demand for the safe and secure domestic manufacturing supply chain.
• Mining permit application for Record Ridge is progressing and in the final stages of technical review, as WHY continues to work with the Indigenous nations, local community, and the government to ensure that Record Ridge becomes the best project possible for both the company and the community.
• West High Yield has completed a pre-feasibility study indicating robust economics that encourages the company to move forward.
• The company prioritizes clean energy operations to reduce emissions and ensure a positive ESG rating, creating low-cost, high-pedigree magnesium/silica/nickel products that result in virtually no CO2 emission.
• West High Yield announced the listing of its common shares on the Frankfurt Stock Exchange (FSE) under the trading symbol "W0H"
• An experienced management team leads the company toward fully realizing the potential of its assets.

Key Project

Record Ridge Magnesium Mine

The 100-percent-owned Record Ridge project covers 8,972 hectares, approximately 7.5 kilometers west to southwest of Rossland, BC. The project is only 5 kilometers away from the US-Canadian border and has excellent regional infrastructure, including power, water, roads, proximate labor force and transportation. Permit application process is currently underway.

Project Highlights:

• Nearing Production: The advanced-stage project is currently in the final technical review required for the mining permit to initiate production. Once production commences, the company will begin generating cash flow through the sale of ore. West High Yield will also seek out new offtake agreements and with positive cash flow begin moving towards capitalizing on the property’s gold deposits.
• Encouraging Pre-feasibility Study: West High Yield’s pre-feasibility study (PFS) also indicates impressive economics, demonstrating an IRR of 72 percent over a 172-year mine life, an after-tax NPV of 5 percent of $872 million, and payback in 1.5 years. The completed PFS allows the company to move forward with production with complete confidence in future revenue.
• Sustainable Production with Minimal Carbon Emissions: The HCI leaching process the company will be using produces minimal CO2 emissions. The company’s specific process was developed to produce virtually no waste and low environmental impact. These efforts result in a top-tier ESG rating that will reflect on downstream manufacturers.
• Indigenous Community Collaboration: A cooperation agreement with the Osoyoos Indian Band (OIB) with respect to the Record Ridge Project, which falls within OIB’s asserted territory, assures OIB’s oversight of the project to protect its people’s environmental and economic interests.

Management Team

Frank Marasco Jr. - Founder, President, CEO and Director

Frank Marasco is the founder of West High Yield Resources. Marasco is also president and director of Big Mountain Development Corp. Over the course of 45 years, Marasco has built and sold 47 successful businesses, including hotels, motels, rental units, RV and mobile home parks, apartments, retail liquor stores, pubs, nightclubs and a retail mall. At the age of 47, he retired, later going into business in the oil and mining sectors. He had purchased 81 oil and gas development sections in S.E. Saskatchewan in the Bakken, as well as gold mines in Rossland, BC. After briefly exploring for and finding gold on the project, Marasco and his team then discovered what is now a world-class, 2,000-acre, high-grade, low-cost, critical mineral magnesium deposit known as Record Ridge.

Barry Baim - Director and Corporate Secretary

Barry Baim brings over 35 years of activating and inspiring teams to achieve profitable revenue growth. His senior leadership experience is diverse having held executive positions with both private and public companies including Tier one CPG and in the natural resource sector mining site development projects in oil sands, 3d seismic, logistics, remote lodging, and other service-related entities in energy, oil, and gas. Baim is currently a director for SGV Canada and a past board member with Millennium Seismic, Paradigm Chemical Technologies and Siksika Resource Developments Ltd.

Patricia L. Nelson - Director

Patricia Nelson was controller for Sabre Petroleum's, Petroterra Natural Resources and manager of Financial Control for Suncor. She is the vice-chair and director of the In Situ Oil Sands Alliance, director of Altalink, and director of Optiom Inc. Nelson served 15 years as an elected member of the Legislature of Alberta. She was appointed and served as minister of energy, minister of economic development and tourism, minister of government services, and finally, was appointed minister of finance. She served 12 years as a member of the treasury board and the agenda and priorities committee of the government. An active member of the community, she supports charitable organizations such as the kidney foundation, the cancer foundation, heart and stroke and juvenile diabetes.

Maria Marasco - Director

Maria Marasco is an independent businesswoman who has provided services in corporate restructuring finance, acquisitions, and strategic planning. She is also responsible for overseeing management information systems, human resource strategies, and property management systems.

Shelina Hirji - Chief Financial Officer

Shelina Hirji is a designated accountant with over 38 years of experience in infrastructure construction, oil and gas exploration, and mining. Hirji has been engaged in the oil and gas industry since early 1990, starting with various senior accounting and management roles in both public and private companies with extensive participation in growth opportunities. She has been a key member of the executive management team, assuming a strategic role in the overall management of the company. Hirji's experience in financial management includes financial reporting, corporate accounting, budgeting and forecasting, as well as stewardship of internal controls. Hirji is a member of the Chartered Professional Accountants of Alberta and the advisory committee for the TSX Venture Exchange.

Fouad Kamaleddine - Advisor

Dr. Fouad Kamaleddine is the founder/principal of AIS Inc., an integrated mining consulting partnership that provides technical services to mining companies including processing and metallurgy, project development and engineering studies. He has been an officer and director of many public and private mining companies. Kamaleddine has over 20 years of academic and industry experience with demonstrated success in conducting challenging industrial research leading to several inventions and multiple achievement awards.

James Gregory (Greg) Davison - Senior Geologist, Technical Advisor and Qualified Person

Greg Davison is a professional consulting exploration geologist, technical advisor, qualified person, project generator and manager, and ore mineralogist (exploration and metallurgy). Davison is currently licensed in British Columbia (EGBC) and has over forty-four years of practical field, laboratory and management experience in diverse geological settings. He completed his B.Sc. (honors geology) at Dalhousie University, Nova Scotia (1974-1979) and his M.Sc. (geology) at Brock University, Ontario (1981-1984), and is on the board of directors of TSXV-listed Silver Spruce Resources and Playfair Mining. Davison provides extensive management, operational and applied skills for mineral exploration, including technical analysis of process mineralogy, petrography and ore geology, at all project levels from grassroots through advanced development and mining.

Rick Walker - P. Geologist and P. Engineer

Rick Walker has over 25 years of geological and structural mapping experience in the mineral exploration industry. Walker has a strong background, ranging from structurally complex areas to advanced exploration property definition. In addition, he has worked on a wide variety of deposit types, including porphyries, sedimentary exhalative, volcanogenic massive sulphides, low tonnage vein-type, industrial minerals; gold, silver, base metals, rare to strategic metals and diamonds. Walker has delivered significant geological value throughout his career for companies, ranging from junior to major resource companies, both nationally and internationally.

He has also served as a volunteer for industry-related organizations, serving for 12 years as president of the East Kootenay Chamber of Mines, five years as a director of the BC and Yukon Chamber of Mines (now the Association of Mineral Exploration for BC), on the committee that developed the initial Mineral Exploration Code for BC and as an industry representative in the Commission on Resources and Environment (CORE) process resulting in the East Kootenay Land Use Plan.

Corey Peck - Junior Geologist

Corey Peck is a junior geologist who came to West High Yield Resources in the spring of 2007. He studied at the University of Calgary, where he received a B.Sc. in geology, with a minor in earth science. He has extensive training in both the field and lab settings. His skill set encompasses all aspects of geology, geophysics and geography, with particular emphasis on geotechnical logging, mineralogy and mapping. He currently resides full-time in Rossland, BC.