Federal Court of Australia Approves Transformational Acquisition of Base Resources

Federal Court of Australia Approves Transformational Acquisition of Base Resources

Combination expected to close on October 2, 2024

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), an industry leader in uranium and rare earth elements (" REE ") production for the energy transition, is pleased to announce that the Federal Court of Australia (the " Court ") has today made orders approving the proposed acquisition of Base Resources Limited (" Base ") by Energy Fuels by way of a scheme of arrangement under Australia's Corporations Act (the " Scheme ").

Energy Fuels Inc. is an industry leader in uranium and rare earth elements production for the energy transition. (CNW Group/Energy Fuels Inc.)

As previously announced on April 21, 2024 , under the Scheme, Energy Fuels will acquire 100% of the issued shares of Base in consideration of the issuance by the Company of 0.026 Energy Fuels Common Shares for every Base share held and the payment by Base of a special dividend of AUD $0.065 per Base share.

Mark S. Chalmers , President and CEO of Energy Fuels stated: "I am very pleased that the Court has approved Energy Fuels' combination with Base Resources. This approval is the final approval required before closing, which is expected to occur on October 2, 2024 . We look forward to developing the world-class Toliara Project with Base's experienced team as a major step in our development of a world-class critical minerals company at a time when geopolitics is making domestic supply chains more important than ever. I am also very pleased to see that the recent improvements in REE prices are continuing, with the price of NdPr now at approximately $59.60 per kilogram."

As a next step, a copy of the Court order will be lodged with the Australian Securities and Investments Commission (" ASIC ") and the Scheme will become effective, which is expected to occur on September 13, 2024. As a result, September 13, 2024, is expected to be Base's last day of trading on the Australian Stock Exchange (" ASX "). The Special Dividend (AUD$0.065 per share) is expected to be paid to Base shareholders on October 1, 2024, and implementation of the Scheme is expected to occur on October 2, 2024.

The Toliara Project is subject to negotiation of fiscal terms with the Madagascar government and the receipt of certain Madagascar government approvals and actions before a current suspension on activities at the Toliara Project will be lifted and development may occur.

ABOUT Energy Fuels

Energy Fuels is a leading US-based critical minerals company. The Company, as a leading producer of uranium in the United States , mines uranium and produces natural uranium concentrates that are sold to major nuclear utilities for the production of carbon-free nuclear energy. Energy Fuels recently began production of advanced rare earth element (" REE ") materials, including mixed REE carbonate in 2021, and commenced production of commercial quantities of separated REEs in 2024. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is evaluating the recovery of radionuclides needed for emerging cancer treatments. Its corporate offices are in Lakewood, Colorado , near Denver, and substantially all its assets and employees are in the United States . Energy Fuels holds two of America's key uranium production centers: the White Mesa Mill in Utah and the Nichols Ranch in-situ recovery (" ISR ") Project in Wyoming. The White Mesa Mill is the only conventional uranium mill operating in the US today, has a licensed capacity of over 8 million pounds of U 3 O 8 per year, and has the ability to produce vanadium when market conditions warrant, as well as REE products, from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U 3 O 8 per year. The Company recently acquired the Bahia Project in Brazil and entered into a joint venture agreement to develop the Donald Project in Australia, each of which is believed to have significant quantities of titanium (ilmenite and rutile), zirconium (zircon) and REE (monazite) minerals. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the US and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com .

Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: any expectation that the Company will maintain its position as a leading U.S.-based critical minerals company or as a leading producer of uranium in the U.S.; any expectation that the acquisition of Base Resources will be completed or if completed, completed on the terms and time proposed; any expectation that Energy Fuels will be successful in agreeing on fiscal terms with the Government of Madagascar or in achieving sufficient fiscal and legal stability for the Toliara Project, if acquired; any expectation that the current suspension relating to the Toliara Project will be lifted in the near future or at all; any expectation that the   Toliara Project will be developed; any expectation that the Company will become a world-class critical minerals hub; and any expectation that the Company's evaluation of radioisotope recovery at the Mill will be successful. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; engineering, construction, processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of feed sources for the Mill; competition from other producers; public opinion; government and political actions; the failure of the Company to complete the acquisition of Base Resources; the failure of the Government of Madagascar to agree on fiscal terms for the Toliara Project or provide the approvals necessary to achieve sufficient fiscal and legal stability on acceptable terms and conditions or at all; the failure of the current suspension affecting the Toliara Project to be lifted on a timely basis or at all; the failure of the Company to provide or obtain the necessary financing required to develop Toliara Project and the Company's other projects; available supplies of monazite; the ability of the Mill to produce REE carbonate, REE oxides or other REE products to meet commercial specifications on a commercial scale at acceptable costs or at all; market factors, including future demand for heavy mineral sands and/or REEs; actual results may differ from all such estimates and projections; the ability of the Mill to recover radium or other radioisotopes at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar , on SEDAR+ at www.sedarplus.ca , and on the Company's website at www.energyfuels.com . Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/federal-court-of-australia-approves-transformational-acquisition-of-base-resources-302246529.html

SOURCE Energy Fuels Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/12/c0114.html

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Energy Fuels to Host Conference Call on Acquisition of Base Resources

Energy Fuels to Host Conference Call on Acquisition of Base Resources

Conference Call at 9:00 AM (Eastern) on Monday, October 7, 2024

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (" Energy Fuels " or the " Company "), an industry leader in the U.S. production of uranium and rare earth elements (" REE "), will hold a conference call on Monday, October 7, 2024 at 9:00 AM Eastern Time to discuss its recently completed acquisition of Base Resources Limited.

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NASDAQ:URRE

Energy Fuels to Host Conference Call on Acquisition of Base Resources

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), an industry leader in the U.S. production of uranium and rare earth elements ("REE"), will hold a conference call on Monday, October 7, 2024, at 9:00 AM Eastern Time to discuss its recently completed acquisition of Base Resources Limited.

Details of the acquisition were distributed in a previous press release available on the company's website on the investor section.

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NASDAQ:URRE

US Rare Earth and Critical Mineral Supply Security Significantly Boosted as Energy Fuels Closes Acquisition of Australia's Base Resources

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), an industry leader in the U.S. production of uranium and rare earth elements ("REE"), today announced that it has completed the acquisition of Base Resources Limited ("Base"), an established heavy mineral sands ("HMS") and critical mineral company, headquartered in Perth, Australia, in consideration of the issuance of Energy Fuels shares totaling approximately US$178.4 million in value1. The financial terms and details of the transaction can be found here.

  • Energy Fuels is restoring essential U.S. critical mineral supply chains and processing capabilities that are key to clean energy, economic security, and national defense.
  • Acquisition of Base Resources secures the world-class Toliara Project in Madagascar, which Energy Fuels believes is the best critical mineral development project in the world.
  • The Toliara Project is a new large-scale and low-cost source of rare earth minerals that Energy Fuels plans to develop and process into advanced rare earth products at the Company's existing facility in Utah.
  • Rare earths are key ingredients in various clean energy technologies, including electric vehicles (EVs), Plug-In Hybrid Electric Vehicles (PHEVs), and direct-drive wind energy, along with critical national defense technologies.
  • Acquisition positions Energy Fuels to become a globally significant producer of titanium and zirconium minerals in the future, while also maintaining its current position as a leading U.S. producer of uranium.
  • Acquisition also secures Base Resources' mine development and operations team, who have a successful track-record of designing, constructing, and profitably operating the Kwale Project, a world-class heavy mineral sands operation in Africa.

"With Energy Fuels' acquisition of Base Resources and its Toliara Project in Madagascar, we have now acquired the raw materials that, when developed, will enable us to become one of the world's leading suppliers of advanced rare earth products and titanium and zirconium minerals, while also maintaining our current position as a leading producer of uranium in the United States," said Mark Chalmers, President and CEO of Energy Fuels Inc.

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US Rare Earth and Critical Mineral Supply Security Significantly Boosted as Energy Fuels Closes Acquisition of Australia's Base Resources

US Rare Earth and Critical Mineral Supply Security Significantly Boosted as Energy Fuels Closes Acquisition of Australia's Base Resources

  • Energy Fuels is restoring essential U.S. critical mineral supply chains and processing capabilities that are key to clean energy, economic security, and national defense.
  • Acquisition of Base Resources secures the world-class Toliara Project in Madagascar , which Energy Fuels believes is the best critical mineral development project in the world.
  • The Toliara Project is a new large-scale and low-cost source of rare earth minerals that Energy Fuels plans to develop and process into advanced rare earth products at the Company's existing facility in Utah .
  • Rare earths are key ingredients in various clean energy technologies, including electric vehicles (EVs), Plug-In Hybrid Electric Vehicles (PHEVs), and direct-drive wind energy, along with critical national defense technologies.
  • Acquisition positions Energy Fuels to become a globally significant producer of titanium and zirconium minerals in the future, while also maintaining its current position as a leading U.S. producer of uranium.
  • Acquisition also secures Base Resources' mine development and operations team, who have a successful track-record of designing, constructing, and profitably operating the Kwale Project, a world-class heavy mineral sands operation in Africa .

 Denver-based Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (" Energy Fuels " or the " Company "), an industry leader in the U.S. production of uranium and rare earth elements (" REE "), today announced that it has completed the acquisition of Base Resources Limited (" Base "), an established heavy mineral sands (" HMS ") and critical mineral company, headquartered in Perth, Australia in consideration of the issuance of Energy Fuels shares totaling approximately US$178 .4 million in value 1 . The financial terms and details of the transaction can be found here .

"With Energy Fuels' acquisition of Base Resources and its Toliara Project in Madagascar , we have now acquired the raw materials that, when developed, will enable us to become one of the world's leading suppliers of advanced rare earth products and titanium and zirconium minerals, while also maintaining our current position as a leading producer of uranium in the United States ," said Mark Chalmers , President and CEO of Energy Fuels Inc.

Chalmers continued: "We have been putting together the missing pieces of the REE supply chain over the past two years, as we create a large-scale and low-cost critical mineral company based in the United States that produces uranium, rare earth elements, vanadium and soon medical isotopes on American soil, along with titanium and zirconium minerals at our mines in the Southern Hemishere. The 'common thread' connecting these products is that they are produced from, or associated with, ores that contain uranium, an integral part of our story over many years. We are able to process these ores at our facility in Utah and recover these elements in addition to the contained uranium."

The Base acquisition is one of the most important pieces in Energy Fuels' REE plan, as the development of the Toliara Project is expected to greatly increase Energy Fuels' supply of raw materials and help the Company control its internal supply chain and costs. "We are working to bring rare earth processing capabilities back to the United States , while also mining and processing to the highest global standards for protection of human health, human rights and the environment," Chalmers remarked. "This is great news for America's clean energy, economic, and national security."

Energy Fuels has now assembled a world-class and low-cost REE and critical mineral supply chain, where a suite of HMS projects in the Southern Hemisphere are expected to be developed in the coming years and produce large quantities of REE-bearing mineral product (" Monazite ") from Base's Toliara Project in Madagascar , the Company's 100% owned Bahia Project in Brazil , and the Company's planned interest in the Donald Project joint venture (" JV ") in Australia for which a joint venture agreement was recently entered into with Astron Corporation Limited. Monazite contains the minerals "monazite" and "xenotime," which have excellent grades and distributions of both "light" and "heavy" REEs.

The Company plans to develop and import Monazite from these HMS projects (and potentially others) into the United States where it will be processed into advanced REE products at the Company's White Mesa Mill, located near Blanding, Utah (the " Mill "). Earlier this year, Energy Fuels demonstrated its ability to process Monazite and refine the material into separated neodymium-praseodymium (" NdPr ") at commercial scale. Monazite also contains material quantities of natural uranium, which Energy Fuels plans to recover for sale to nuclear utilities who will process it further to be used as fuel to produce carbon-free electricity.

REEs are used in a wide variety of clean energy and advanced technologies, including EVs, PHEVs, direct-drive wind energy, magnets, and a number of other energy transition and defense-related technologies. Over the next 2 to 4 years, the Company plans to develop and put the Toliara, Bahia, and Donald projects into production, which have the combined ability to produce up to 43,000 metric tons (" tonnes ") of Monazite per year. The Monazite produced from these projects, along with Monazite that may be acquired from other parties, is expected to provide sufficient raw materials for Energy Fuels to produce roughly 4,000 – 6,000 tonnes of separated NdPr per year, along with roughly 200 – 300 tonnes of separated dysprosium (" Dy ") and terbium (" Tb ") per year. Energy Fuels is currently in the process of designing and licensing the expansion of its REE separation capabilities at the Mill. Commissioning of the expansion is expected to roughly coincide with the timing of when these mines complete development and begin production of Monazite.

Once developed, Energy Fuels' HMS projects are also expected to produce significant quantities of traditional HMS product lines, including titanium and zirconium minerals, which are expected to generate significant additional cash flow for the Company. As a result, Energy Fuels also expects to become a significant global supplier of, not only REEs, but also titanium and zirconium minerals. At the same time, the Company is currently ramping-up uranium production at its mines and the Mill in the United States and expects to maintain its position as a leading U.S. uranium producer.

The Toliara Project is considered by the Company to be one of the best HMS and critical mineral development projects in the world, due to the high-grade and high-quality of the titanium, zirconium and REE minerals, and its long mine life. The definitive feasibility study for titanium and zirconium minerals, along with the prefeasibility study for the addition of the Monazite stream, showing attractive project economics is available here . The Toliara and Donald Projects are currently in the development phase and the Bahia project is currently in the exploration and permitting phase. In addition, the Toliara Project is subject to negotiation of fiscal terms with the Madagascar government and the receipt of certain Madagascar government approvals and actions before a current suspension on activities at the project will be lifted and development may continue.

Chalmers concluded: "I am also honored and excited to welcome Base's highly successful management and employees to the Energy Fuels' team, which I am confident will elevate our competitive advantages from day one. A key benefit to Energy Fuels from this acquisition is that Base brings to the Company an experienced and highly regarded management and operations team with a proven track record of safe, efficient, and profitable operations at heavy mineral sands operations in Africa . I would also like to welcome Mr. Michael Stirzaker to Energy Fuels' Board of Directors. Mr. Stirzaker was Base's Non-Executive Chair, and his many years of experience in mining finance and investment will be a valuable addition to the Company."

About Energy Fuels

Energy Fuels is a leading US-based critical minerals company, focused on uranium, REEs, HMS, vanadium and medical isotopes. The Company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy, and owns and operates several conventional and in situ recovery uranium projects in the western United States . The Company also owns the White Mesa Mill in Utah , which is the only fully licensed and operating conventional uranium processing facility in the United States . At the Mill, the Company also produces advanced REE products, vanadium oxide (when market conditions warrant), and is preparing to begin pilot-scale recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. The Company also owns the operating Kwale HMS project in Kenya which is nearing the end of its life and is developing three (3) additional HMS projects, including the Toliara Project in Madagascar , the Bahia Project in Brazil , and the Donald Project in Australia in which the Company has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The Company is based in Lakewood, Colorado , near Denver , with its heavy mineral sands operations managed from Perth, Australia . For more information on all we do, please visit http://www.energyfuels.com .

Note 1 : The transaction value is US$178,438,295 , which is based on the issuance of 31,920,983 common shares of Energy Fuels and assuming a share price of US$5.59 (the closing share price for Energy Fuels on the NYSE American as of October 1, 2024 ).

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: any expectation that the Company will maintain its position as a leading U.S.-based uranium and critical minerals company or as the leading producer of uranium in the U.S.; any expectation that the Toliara, Bahia and Donald Projects will be successfully developed; any expectation as to production levels or timing or duration of production from the Toliara Project or any of the Company's other mines or projects; any expectations as to costs of production at the Toliara Project, the Mill or any of the Company's mines or other projects;   any expectations as to future cash flows; any expectation that any production at the Toliara Project or Mill will be world or globally competitive; any expectation that the acquisition may position Energy Fuels to become a globally significant producer of titanium and zirconium minerals; any expectation that the Company will be successful in acquiring any additional sources of Monazite; any expectation that Energy Fuels will be successful in designing and licensing the expansion of REE separation capabilities at the Mill; any expectation that Energy Fuels will be successful in agreeing to acceptable fiscal terms with the Government of Madagascar or in achieving and maintaining sufficient fiscal and legal stability; any expectation that the current suspension relating to the Toliara Project will be lifted in the near future or at all; any expectation that the Company will successfully continue to operate to the highest global standards for the protection of human health, human rights and the environment; and any expectation that the Toliara Project will become a world-class heavy mineral sands project. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; engineering, construction, processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; competition from other producers; public opinion; government and political actions; the failure of the Government of Madagascar to agree fiscal terms or provide the approvals necessary to achieve sufficient fiscal and legal stability on acceptable terms and conditions or at all; the failure of the current suspension affecting the Toliara Project to be lifted on a timely basis or at all; the failure of the Company to provide or obtain the necessary financing required to develop any or all of its Projects; market factors, including future demand for rare earth elements; the ability of the Mill to be able to separate radium or other radioisotopes at reasonable costs or at all; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml , on SEDAR at www.sedar.com , and on the Company's website at www.energyfuels.com . Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

Energy Fuels Inc., a US-based uranium and rare earth elements producer. (CNW Group/Energy Fuels Inc.)

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/us-rare-earth-and-critical-mineral-supply-security-significantly-boosted-as-energy-fuels-closes-acquisition-of-australias-base-resources-302265274.html

SOURCE Energy Fuels Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2024/02/c9175.html

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Energy Fuels

Federal Court of Australia Approves Transformational Acquisition of Base Resources

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), an industry leader in uranium and rare earth elements ("REE") production for the energy transition, is pleased to announce that the Federal Court of Australia (the "Court") has today made orders approving the proposed acquisition of Base Resources Limited ("Base") by Energy Fuels by way of a scheme of arrangement under Australia's Corporations Act (the "Scheme").

As previously announced on April 21, 2024, under the Scheme, Energy Fuels will acquire 100% of the issued shares of Base in consideration of the issuance by the Company of 0.026 Energy Fuels Common Shares for every Base share held and the payment by Base of a special dividend of AUD $0.065 per Base share.

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Aclara Announces Update on its Rare Earths Separation Project

Aclara Announces Update on its Rare Earths Separation Project

Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce the completion of a conceptual engineering study for its rare earths ("REE") separation project, currently being developed by its U.S.-based subsidiary, Aclara Technologies. The separation flowsheet concept, based on solvent extraction, was developed in collaboration with the Saskatchewan Research Council. This concept provided the foundation for Hatch to complete a Class 5-AACE CAPEX and OPEX estimate, while also incorporating robust environmental features such as significant waste reduction and zero liquid discharge. The initial results are highly encouraging, and positions Aclara to become the first vertically integrated heavy rare earths company outside of Asia

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West High Yield  Resources Ltd. Announces Extension of Current Private Placement

West High Yield Resources Ltd. Announces Extension of Current Private Placement

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces that, further to its news releases dated August 29, 2024, September 26, 2024 and October 9, 2024, it has received an extension from the TSX Venture Exchange (the "TSXV") with respect to the final acceptance date of its previously announced private placement offering (the "Offering") of units (the "Units").

The outside date for the final closing and filing acceptance of all final documentation required by the TSXV in respect of the Offering has been extended from October 14, 2024 to November 13, 2024 (the "Extension Date").

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West High Yield  Resources Ltd. Announces BC Government Mining Permit Work Plan Timelines

West High Yield Resources Ltd. Announces BC Government Mining Permit Work Plan Timelines

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") is pleased to announce that it has received its most updated written work plan timelines (link to the timelines) from the British Columbia Ministry of Energy, Mines and Low Carbon Innovation (the "EMLI") regarding the Company's mineral extraction project (the "Project") pertaining to the Record Ridge Industrial Minerals Mine (the "RRIMM") permit process. While the EMLI indicated that these dates could be subject to adjustments, the Company is optimistic that the process is on track for a potential permit issuance by early December, 2024.

The Company remains committed to addressing any further requests or comments promptly stemming from the review by the British Columbia Mine Development Review Committee (the "MDRC") of its latest RRIMM amended permit submission. West High Yield continues to work closely with the Project stakeholders and regulatory authorities to ensure that the process proceeds efficiently.

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Two people shaking hands.

Stillwater, USSM Sign MOU to Accelerate US Critical Minerals Supply Chain

Stillwater Critical Minerals (TSXV:PGE,OTCQB:PGEZF) has signed a non-binding memorandum of understanding (MOU) with private company US Strategic Metals (USSM) to explore potential business opportunities within the critical metals sector.

The MOU outlines a broad range of potential collaborations, some of which include marketing efforts, technical support and supply chain development for critical minerals, including nickel, cobalt and other metals essential to the production of electric vehicle (EV) batteries and renewable energy technologies.

The MOU also explores potential offtake agreements, logistics collaboration and financing opportunities.

The companies intend to work together in advocating for government support, particularly from US government agencies such as the Department of Energy and the Department of Defense.

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West High Yield  Resources Ltd. Announces Second Tranche Closing of Private Placement and Debt for Shares Transaction

West High Yield Resources Ltd. Announces Second Tranche Closing of Private Placement and Debt for Shares Transaction

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces that, further to its news releases of August 29, 2024 and September 26, 2024, it has closed a second tranche (the "Closing") of its previously announced private placement offering (the "Offering") of units (the "Units"). The Company is announces that it has it has entered into debt settlement agreements (the "Debt Settlement Agreements") with four (4) lenders of the Company (the "Creditors") to settle outstanding debts owed to them.

Offering

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Australian money on top of business chart.

Queensland Opens Applications for Ninth Round of Collaborative Exploration Initiative

Queensland has opened applications for the ninth round of its Collaborative Exploration Initiative (CEI).

A total of AU$5 million in funding has been allotted to support exploration companies looking for new critical minerals deposits in the state. Each explorer can apply for maximum funding of AU$250,000.

According to a September 25 press release, priority will be given to those focused on critical minerals that are needed for clean energy innovations, such as solar panels, wind turbines and electric vehicle batteries.

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