West High Yield  Resources Ltd. Announces Proceeds from Exercise of Options

West High Yield Resources Ltd. Announces Proceeds from Exercise of Options

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (FSE: W0H) (the "Company" or "West High Yield") announces the receipt of proceeds from the exercise of certain stock options (the "Options") of the Company.

One holder of options (the "Optionholder") exercised an aggregate of 100,000 Options resulting in the issuance of 100,000 common shares of the Company (each, an "Option Share"). The Options were exercisable at a price of CAD$0.15 per Option Share. The Options exercised by the Optionholder were issued to the Optionholder, among others, as part of an option grant of the Company on November 27, 2019.

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company 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 emissions.

The Company's Record Ridge critical mineral deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently produced National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") 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 and which can be found on the Company's profile at https://www.sedarplus.ca.

Contact Information:

West High Yield (W.H.Y.) RESOURCES LTD.

Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488
Email: frank@whyresources.com

Barry Baim, Corporate Secretary
Telephone: (403) 829-2246
Email: barry@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 TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231112

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West High Yield  Resources Ltd. Announces Final Closings of Oversubscribed Private Placement and Shares-for-Debt Transactions

West High Yield Resources Ltd. Announces Final Closings of Oversubscribed Private Placement and Shares-for-Debt Transactions

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") announces that, further to its news releases dated August 29, 2024, September 26, 2024, October 9, 2024 and October 11, 2024, it is closing the final tranche (the "Closing") of its previously announced private placement offering (the "Offering") of units (the "Units"). The Company also announces that, further to its news release dated October 9, 2024, it has completed its previously announced shares-for-debt transactions (the "Shares for Debt Transactions") to settle CAD$320,000 in outstanding debt (collectively, the "Debt") owed to with three (3) non-arm's length lenders (the "NAL Creditors") and one (1) arm's length lender of the Company (collectively, the "Creditors").

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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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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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West High Yield  Resources Ltd. Announces Amended Permit Submission

West High Yield Resources Ltd. Announces Amended Permit Submission

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") is pleased to announce that, further to its news release dated August 29, 2024, the Company had a productive forward-focused meeting with the British Columbia Ministry of Energy, Mines and Low Carbon Innovation (the "EMLI") on September 4, 2024 (the "EMLI Meeting"). During this meeting, the Company outlined its revised permit application (the "Amended Application") for carrying out the extraction and production of critical minerals (the "RRIMM Project") at its Record Ridge Industrial Mineral Mine (the "RRIMM"), which included a reduction in the proposed tonnage output to fall under the threshold set by the British Columbia Environmental Assessment Office ("EAO") for reviewable projects for Mineral mines.

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First Helium Licenses First of Two Wells Targeting Leduc Light Oil at Worsley

First Helium Licenses First of Two Wells Targeting Leduc Light Oil at Worsley

First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced receipt of regulatory licensing approval to proceed with the drilling of its proven undeveloped ("PUD") 7-30 location, which has been assigned proved plus probable undeveloped reserves of 196,700 barrels 2 by Sproule Associates Limited ("Sproule") 1 its independent evaluator. The Company continues to advance the licensing process for its high-impact 7-15 Leduc anomaly target and is working to secure drilling and ancillary services to drill both wells in a sequential, cost-effective manner.

"With drilling license in hand for the 7-30 PUD location, we are moving ahead to secure the required services necessary to drill both our 7-30 PUD well along with our high impact Leduc anomaly, 7-15, which on seismic is approximately 5X the areal extent of our successful 1-30 light oil pool discovery," said Ed Bereznicki, President & CEO of First Helium. "With success, the combined oil potential from these two operations would provide immediate cash flow and meaningful near-term value for our shareholders. It would also set the stage to execute on ten additional, highly prospective lower risk drilling locations," added Mr. Bereznicki.

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US bill on map of Africa.

Biden Admin Makes Big Angola Investment to Counter China’s Critical Minerals Dominance

US President Joe Biden directed an additional US$600 million to the Lobito Corridor project during a visit to Angola, reinforcing a commitment to enhancing critical minerals supply chains in the African region.

The funding builds on the US$553 million committed earlier this year to the corridor, which connects the copper-rich Democratic Republic of Congo (DRC) and Zambia to Angola’s Atlantic coast.

The US has now invested more US$1.1 billion in the project, with the latest amount reportedly supporting related sectors as well, including agriculture, clean energy, health and digital access.

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Energy Fuels and Madagascar Government Execute Memorandum of Understanding to Further Advance Toliara Critical Mineral Project in Madagascar

Energy Fuels and Madagascar Government Execute Memorandum of Understanding to Further Advance Toliara Critical Mineral Project in Madagascar

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (" Energy Fuels " or the " Company "), a leading U.S. producer of uranium, rare earth elements (" REE "), and critical minerals, is pleased to announce that it has entered into a Memorandum of Understanding (the " MOU ") with the Government of Madagascar (the " Government ") setting forth certain key terms applicable to the Company's Toliara titanium, zirconium, and REE project (the " Toliara Project " or " Project "), located in southwestern Madagascar .

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 November 28, 2024 , the Madagascar Council of Ministers, as Chaired by the President of Madagascar , lifted the suspension on the Toliara Project, which was originally imposed in November 2019 . The lifting of the Suspension allows the Company to continue development of the Project, re-establish community programs, and advance activities necessary to achieve a positive final investment decision (" FID ").

The MOU announced today is the culmination of extensive negotiations over several years with the Malagasy Government on fiscal and other terms applicable to the Toliara Project and a major step forward in advancing the Project. While the Company is progressing towards an FID, which is expected to be made in approximately 14 months, the Company will continue working with the Government of Madagascar to formalize the terms and conditions set out in the MOU through the implementation of a " Stability Mechanism " consisting of one or a combination of the following: (a) submittal of an Investment Agreement to the Madagascar Parliament for approval as law and certification of the Toliara Project (" Project Certification ") under existing law establishing a special regime for large scale investments in the Malagasy mining sector (the " LGIM "); (b) promulgation of amendments and revisions to the existing LGIM (the " LGIM Amendment ") in a form that provides for the necessary certainty of financial and legal terms, and reasonable financial, operational and legal requirements, for large-scale projects and have Project Certification under the amended LGIM, together with an Investment Agreement (if reasonably required) submitted to Parliament for approval as law; and/or (c) another agreed upon mechanism that achieves the necessary certainty of financial and legal terms, and reasonable financial, operational and legal requirements, applying to large-scale mining projects.

Mark S. Chalmers , President and CEO of Energy Fuels commented: "As I've said before, I believe the Toliara Project is a 'generational' critical mineral project that has the strong potential to operate well beyond many of our lifetimes. Therefore, it is vital to Energy Fuels, and to our Base Resources subsidiaries, that the Republic of Madagascar and the communities in the vicinity of the Project enjoy significant benefits that go beyond jobs, economic development, and sustainable operations that respect human rights, local culture, and the environment. To achieve this vision, the MOU signed today creates the framework for a long-term mutually beneficial partnership between a U.S. critical mineral company and the people of Madagascar . We look forward to continuing to work with the Government of Madagascar to formalize the terms of the MOU and grow our relationship with what we believe will be the largest U.S. investment in the country's history."

Key Terms and Conditions of the MOU

Under the MOU, the Company has agreed to pay a five percent (5%) royalty (and no other) on mining products and deliver US$80 million after Project Certification in development, community, and social project funding, including a total of $30 million within 30 days after Project Certification, another $10 million within 30 days after achieving a positive FID and an additional $40 million by the fourth year of operations. In addition, the Company has agreed to spend at least $1 million prior to FID in the Atsimo Andrefana Region on community and social investments, and $4 million annually thereafter, indexed at 2% per annum, from commencement of construction after a positive FID. The Company has also committed to developing the Toliara Project in an environmentally, socially and fiscally responsible manner, and to observe the specific protections set out in the MOU.

The payments described above are not expected to have a material effect on the economics of this potentially multi-billion project, which (along with the appropriate disclaimers related to technical disclosure) are described in the Company's April 2024 press release . The Company is in the process of updating the September 2021 definitive feasibility study and December 2023 prefeasibility study on the Toliara Project, along with the White Mesa Mill's 2024 prefeasibility study on rare earth oxide production, to reflect current economics.

The Government has agreed in the MOU, among other things, to:

  • assist the Company with obtaining all necessary administrative authorizations for the purpose of adding REE-bearing monazite recovery to existing permits;
  • certify the Project as eligible under the LGIM (or amended LGIM, if applicable) as soon as the LGIM eligibility conditions are met; support the prompt development of the Toliara Project, including (without limitation) by causing all relevant State authorities to timely consider and grant all complete applications for permits, licenses or authorizations necessary or desirable for the development and operation of the Toliara Project in accordance with the laws of Madagascar ;
  • maintain the fiscal, legal and customs stability of the Toliara Project;
  • not, directly or indirectly, receive, take or have an interest (including an economic interest or form of production sharing arrangement, and whether carried or free-carried) in the Company or any of its assets, including the Toliara Project;
  • provide active and public support for the Toliara Project, including by publicly announcing the State's support for the Toliara Project and its development; and
  • undertake any LGIM amendments in consultation with relevant stakeholders, including the Company, to ensure that such amendments (or similar instruments with legislative force) provide the necessary certainty of financial and legal terms to address the reasonable financial, operational and legal requirements of large-scale mining projects, and otherwise supports the bankability of the Toliara Project and the ability of the Company to achieve a positive FID.

In addition, under the MOU, the Company's agreement to pay a 5% royalty on revenues and its commitments to pay the US$80 million in development, community and social funding are conditional on:

  • the terms of the Stability Mechanism being adopted in a form that is satisfactory to the Company;
  • Project Certification having been obtained; and
  • prior to Project Certification having been obtained, there being no change to the laws of Madagascar (as they apply to the Company and the Toliara Project as at the date of the MOU) that is adverse to the Company or the Toliara Project.

The MOU and its terms are expressly subject to the foregoing conditions set out in the MOU. It should be noted that there can be no assurance that the foregoing conditions will be satisfied or as to the timing of satisfaction of those conditions, or the timing for approval of the addition of monazite to the mining permit. If such conditions are not satisfied, this could delay any FID in relation to the Toliara Project or prevent or otherwise have a significant effect on the development of the Toliara Project or ability to recover Monazite from the Toliara Project.

ABOUT Energy Fuels

Energy Fuels is a leading US-based critical minerals company, focused on uranium, REEs, heavy mineral sands ("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 HMS operations managed from Perth, Australia. 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." For more information on all we do, please visit http://www.energyfuels.com

CAUTIONARY STATEMENT 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 Company will re-commence development activities on the ground, re-establish the Company's community programs or progress the other activities necessary to achieve a positive FID for the Toliara Project; any expectation that the Toliara Project is a 'generational' critical minerals project or that it has the strong potential to operate well beyond many of our lifetimes or at all; any expectation that the Company will continue working with the Government of Madagascar to formalize fiscal and other terms applicable to the Project through an investment agreement, amendments to existing laws or other mechanisms as appropriate; any expectation that rare-earth element production will be added to the existing mining permit; any expectation that the financial and legal stability of the Toliara Project will be maintained; any expectation that the Toliara Project will attain Project Certification or that the other conditions to the Company's funding obligations will be satisfied; any expectation that a positive FID will be made for the Toliara Project and the timing of any such positive FID; any expectation that the Toliara Project will be developed; any expectation that the MOU will create the framework for a long-term mutually beneficial partnership between a U.S. critical mineral company and the people of Madagascar ; and any expectation that the Company will be successful in recovering certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. 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 Company to provide or obtain the necessary financing required to develop the Project; market factors, including future demand for REEs; 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.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/energy-fuels-and-madagascar-government-execute-memorandum-of-understanding-to-further-advance-toliara-critical-mineral-project-in-madagascar-302323924.html

SOURCE Energy Fuels Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2024/05/c6155.html

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Chinese flag over shipping containers and coins.

China Restricts Key Critical Minerals Exports in Response to US Chip Controls

China has set new US export restrictions on essential minerals, including gallium, germanium and antimony.

The measures, announced on Tuesday (December 3) are seen as a direct response to US export controls aimed at limiting China's access to advanced semiconductor technology.

Citing national security concerns, the US recently expanded its list of companies subject to export controls to include 140 Chinese entities connected to semiconductor development.

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First Helium Advances Licensing of Strategic 7-15 and 7-30 Leduc Wells Targeting Light Oil

First Helium Advances Licensing of Strategic 7-15 and 7-30 Leduc Wells Targeting Light Oil

First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it has completed surveying its proven undeveloped ("PUD") 7-30 location and is advancing through the licensing process for both the 7-30 and 7-15 locations, respectively. The 7-30 PUD well will be drilled on an existing surface location which will enable the Company to expedite drilling. The PUD well has been assigned proved plus probable undeveloped reserves of 196,700 barrels 2 by Sproule Associates Limited ("Sproule") 1 the Company's independent evaluator, and will be drilled in conjunction with the recently identified 7-15 Leduc anomaly.

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