Critical Metals

West High Yield Announces B.C. Ministry of Mines Accepts Record Ridge Industrial Mineral Mine Permit Submission and Provides Terms of Reference for Final Technical Review

West High Yield Announces B.C. Ministry of Mines Accepts Record Ridge Industrial Mineral Mine Permit Submission and Provides Terms of Reference for Final Technical Review

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") is pleased to provide an update on the next milestone achieved for obtaining its industrial mining permit (the "Permit") for the Record Ridge Industrial Mineral Mine ("RRIMM" or the "Project") magnesium deposit located 10 kilometers southwest of Rossland, British Columbia.

RRIM Permit - Final Technical Review

On May 3,2023, the British Columbia Ministry of Mines (the "Ministry"), having completed the screening process of the Company's initial RRIMM Permit application of February 14, 2019 (inclusive of the Company's amended Permit application of February 15, 2022), accepted the Company's screened Permit submissions and issued the "Terms of Reference and Work Plan" (the "TOR andProposedWorkplan") required for the Company to proceed into the final review for the Permit. The TOR and Proposed Workplan timeline indicates a starting date on May 24, 2023. A final recommendations report will be submitted by the committee to the statutory decision-makers for a potential final Permit decision as early as August 24, 2023.

The following is a process-related excerpt from the Ministry's TOR and Proposed Workplan:

The Mines Act [Mines Code s. 10.3.2] states the committee must provide advice to the Chief Permitting Officer within 60 days of application acceptance for the Mines Act permit Review. Although there are no statutory timelines for applications for other authorizations, a collaborative effort is being made by committee members and the proponent to complete the review within a reasonable timeframe (ideally 60 days). If further time is required, a request to the Chief Permitting Officer through the MDRC chair can be made for their consideration.

As previously disclosed in the Company's news release dated March 31, 2023, the Company submitted all material information, mine site engineering designs, and corresponding reports requested by the Ministry in response to its questions and comments of July 2022, stemming from its amended Permit application for the Project.

While adhering to the established multi-step permit process by the Ministry, the Company initiated a formal "request for proposal" process to invite interested groundworks contracting companies with expertise in mine site development and on-site road construction to submit bids to the Company. The Company requested the submission of all bids by June 20, 2023. Upon the Permit being granted, the Company plans to expedite mine site development for the Project and begin mining the ore from RRIM to fulfill the terms contemplated in the letter of intent it signed with APA Galaxy Trade and Technology, LLC (as previously news released on December 7, 2021) and to generate cash flow.

"The Company is elated to have been notified by the Ministry of its decision to advance to the technical review stage. This is a major milestone for the Company, and we will vigilantly continue to satisfactorily complete and/or exceed all remaining aspects of the final permit review process. After years of exploration, detailed analysis, engineering, economic evaluation, consultation, and environmental due diligence, we believe that the Project at Record Ridge has the potential to deliver much-needed critical minerals that underpin modern society. Upon satisfying all requirements set forth by the Ministry and obtaining the Permit, the Company will move forward in mining ore from RRIM with the hope of providing economic stability with a robust and industry-standard level of safety and environmental stewardship. We also understand the importance of engaging the community, indigenous groups, stakeholders, partners, consultants, shareholders, and employees to ensure that the benefits of the Project are shared by all. We look forward to moving with the next phase of the Project, and serving the current and future generations with the utmost responsibility," said Frank Marasco Jr., West High Yield's Chief Executive Officer and President.

Community and Stakeholder Engagement

As another step in the final review process, the Company will be holding community open house consultation sessions (collectively, the "Community Sessions") in Rossland, British Columbia at the Prestige Mountain Resort from 6:00 PM - 8:00 PM (Pacific Daylight Time) on May 17, 2023, and from 4:00 PM - 6:00 PM (Pacific Daylight Time) on May 18, 2023.

The Company looks forward to the upcoming dialogue during the Community Sessions and completing the final steps of the Permit review process.

About West High Yield

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 critical mineral magnesium, silica, and nickel deposit using green processing techniques to minimize waste and CO2 emissions.

The Company's Record Ridge magnesium deposit is located 10 kilometres southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently produced preliminary economic assessment technical report prepared by SRK Consulting (Canada) Inc. in accordance with the National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Contact Information:

West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: frank@whyresources.com

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEA

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164905

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Record Ridge Mining Permit

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ACLARA REPORTS ON VOTING RESULTS FROM THE 2023 ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

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The Annual General and Special Meeting of Shareholders (the " Meeting ") of Aclara Resources Inc. (" Aclara " or the " Company ") (TSX: ARA) was held today in Toronto Ontario.  Each of the matters voted upon at the Meeting is discussed in detail in the Company's management information circular dated April 3, 2023 (the " Circular "), which can be found under the Company's profile on SEDAR at www.sedar.com .

Aclara Resources Inc. Logo (CNW Group/Aclara Resources Inc.)

The total number of votes cast by shareholders of the Company in person and by proxy at the Meeting was 116,084,228 votes, representing 71.12%.  Each of the matters put forward before shareholders for consideration and approval at the Meeting, as described in the Circular, was duly approved by the requisite number of votes. These matters included the election of directors, the appointment of the auditor and the approval of certain amendments to the Omnibus Long-Term Incentive Plan (the " LTIP "), the full text of which is set out in Appendix A of the Circular. The voting results are detailed below:

1.  Election of Directors

Name of Nominee


Votes FOR


%


Votes WITHHELD


%

Eduardo Hochschild


104,811,204


95.36


4,518,489


4.13


Ramon Barua


105,349,211


96.36


3,980,482


3.64


Paul Adams


109,249,590


99.93


80,103


0.07


Ignacio Bustamante


105,338,725


96.35


3,990,968


3.65


Catharine Farrow


109,302,025


99.97


27,668


0.03


Maria Recart


109,308,742


99.98


20,951


0.02


Sanjay Sarma


109,245,388


99.92


84,305


0.08


Nicolás Hochschild


105,271,591


96.29


4,058,102


3.71



2.  Appointment of Auditor

Name of Auditor


Votes FOR


%


Votes WITHHELD


%

EY Servicios Profesionales de Auditoría y Asesorías SpA


116,016,538


99.94


67,690


0.06


3.  Approval of Amendments to the Omnibus Long-Term Incentive Plan

Approval of LTIP Amendments


Votes FOR


%


Votes AGAINST


%



102,105,423


93.39


7,224,270


6.61


The Company has filed a report of voting results on all resolutions voted on at the Meeting under its profile on SEDAR at www.sedar.com .

About Aclara

Aclara is a development-stage rare earth mineral resources company located in Chile . Aclara is initiating the development of its resources through a project called the Penco Module (the " Penco Module "), which covers a surface area of approximately 600 hectares and which has ionic clays that are rich in rare earth elements. Aclara is currently focused on the development and on the future construction and operation of the Penco Module, which will aim to produce a rare earth concentrate through a processing plant that will be fed by clays from nearby deposits. Aclara's unique extraction process offers several advantages such as: no blasting, crushing or milling required; no tailings dam; minimal water consumption due to a high level of water recirculation; amenable leaching with a fertilizer; and no radioactivity.

SOURCE Aclara Resources Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2023/03/c4609.html

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Aclara Submits New EIA for the Penco Module

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Ramón Barúa, Aclara's Chief Executive Officer, commented: "A bit more than year ago we decided to withdraw the Original EIA to resolve certain technical aspects in relation to surrounding flora and fauna. Today we feel proud, not only because we have addressed these technical aspects through a rigorous scientific investigation, but because the New EIA now includes world class environmental attributes that enhance the value proposition of the new Project. In doing so, we have strengthened our relationship with the host community by demonstrating that we want to co-develop the Project, that we have listened to their concerns and that we are now presenting a new Project that is stronger and better in all aspects. Notably, we have changed our water source - we will now solely use a recycled water source - thus ensuring the protection of all natural creeks present in the area. In addition, we have committed to revegetate more than 200 hectares with native species and to donate them to a foundation that we have created for the future use and benefit of our neighbouring communities. This in an area which has been already environmentally impacted by the local garbage dump and the operations of the local forestry industry, and with the proposed changes will result in a net positive contribution to the local ecology. We also plan to build a reproduction centre of Pudus, a local deer, for its protection and conservation. We have also committed to build a recreational park for Penco, thus providing a space highly requested by the local community. Most importantly, the Project is expected to generate more than two thousand direct and indirect jobs in connection with or as a result of the Project. We are committing to prioritize workers from Penco and the Biobio region to fill these new jobs. All these commitments are additions to a Project that is already characterized by its unique environmental features: it will not use explosives, nor crushing or milling in the extraction process; it will recycle water with 95% efficiency; it will use a fertilizer as its main reagent and will recycle it with 99% efficiency. The Project won´t produce solid or liquid residues and will thus not require a tailings storage facility; and it will not generate radioactive waste. At Aclara, we are committed to ensuring that we can produce rare earths while emphasizing a minimal environmental footprint and, as we move forward, we will seek to reassure relevant authorities in Chile of oursustainable and environmentally responsible approach to designing and operating a modern mining facility."

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