West High Yield  Resources Ltd. Outlines Next Steps for the Record Ridge Magnesium Project Mine Permit

West High Yield Resources Ltd. Outlines Next Steps for the Record Ridge Magnesium Project Mine Permit

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") announces the next steps in the mining permit process for the Company's Record Ridge Industrial Mineral Mine project (the "Project").

The Company received notification from the British Columbia Environmental Assessment Office (the "EAO") that it has now determined the Project is subject to environmental assessment thresholds applicable to mineral mines rather than industrial mineral projects. This occurred despite the Project having been advancing in the regulatory process, with the knowledge of EAO, for years on the understanding and assumption that was not the case.

Because of this determination, the Project would need to reduce operations to under 75,000 tonnes of ore production per year in order to not trigger an environmental assessment under the British Columbia Reviewable Projects Regulation. This is the case even though the Project is nearing the completion of a very robust, multi-year process under a British Columbia Mine Development Review Committee, with extensive agency, local government, Indigenous and public input.

"We are surprised and deeply concerned with this changing of the goalposts at the eleventh hour," said West High Yield's Chief Executive Officer, Frank Marasco Jr. "We also have significant concerns about the manner in which this decision was reached and we are consulting legal counsel to explore all options."

Immediately before posting a related report on its website, the EAO contacted the Company to verbally advise that if the Project were to reduce its production to under 75,000 tonnes per year, an environmental assessment would not be required, and the EAO offered to facilitate a dialogue with other interested ministries to discuss the potential for finalizing the permitting of a smaller scale project. The Company intends to explore such options, without prejudice to any legal rights it may have (which will be considered in parallel).

"While this is not a development we expected or wanted, proceeding at a smaller starting scale may ultimately help ensure broad community support, and we can consider expansions in future in accordance with applicable laws," added Mr. Marasco Jr. "We are steadfastly committed to this Project, our partnership with the Osoyoos Indian band, and the jobs and benefits we can provide local communities."

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 deposits using green processing techniques to minimize waste and CO2 emissions.

The Company's Record Ridge magnesium 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 prepared by SRK Consulting (Canada) Inc. in accordance with NI 43-101.

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 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 OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220070

News Provided by Newsfile via QuoteMedia

WHY:CA
West High Yield

West High Yield Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
West High Yield

West High Yield


Keep reading...Show less
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").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
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").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
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

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
First Helium Reviewing Potential Follow Up Targets to Leduc Anomaly Drill

First Helium Reviewing Potential Follow Up Targets to Leduc Anomaly Drill

First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it is reviewing its extensive drilling inventory for follow up operations to its planned Leduc anomaly drill ("7-15") targeting light oil. This program may include drilling its proven undeveloped 1, 3 location ("7-30"), a follow up well on the Leduc anomaly, or another one of 12 primary Leduc prospects identified on its proprietary 3D seismic at Worsley. Other operations include completion and testing of the existing 5-27 horizontal well, along with the re-entry and completion of an existing vertical well bore at east Worsley, both targeting helium-enriched natural gas in the Blue Ridge formation to establish a regional, repeatable play.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Small Canadian flag on compass pointing to the word "invest."

Ontario Pledges C$13 Million to Junior Miners for Critical Minerals Exploration

The Ontario government has announced C$13 million in funding through its Ontario Junior Exploration Program (OJEP) to support early stage exploration efforts by 84 junior mining companies across the province.

The funding forms part of Ontario’s broader strategy to enhance mineral exploration as the province aims to identify new mineral deposits and foster economic growth in its northern and Indigenous communities.

Launched in 2021, OJEP offers grants covering up to 50 percent of eligible costs for junior mining companies undertaking exploration projects, up to a maximum of C$200,000 per project.

Keep reading...Show less
First Helium Initiates Process to License & Drill the Leduc Anomaly

First Helium Initiates Process to License & Drill the Leduc Anomaly

First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced that it has completed its field survey activities and selected the surface location for its Leduc anomaly test well planned for drilling this winter. The survey will be used to prepare necessary regulatory applications for drilling approval. The well location has been selected based on a thorough evaluation of recently acquired proprietary 3D seismic data where the Company has identified a significant anomaly in the Leduc Formation which it believes to be prospective for oil. To date, the Company has drilled two successful Leduc oil wells at Worsley, including the 1-30 and 4-29 Leduc oil pool discoveries, respectively, which together have produced more than 113,000 barrels of light oil, generating in excess of $13 million in revenue and $8 million in cash flow.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Aclara Receives Support from the U.S. Department of Commerce

Aclara Receives Support from the U.S. Department of Commerce

Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce that it is working with the U.S. Department of Commerce's International Trade Administration, through its SelectUSA program, to conduct a study aimed at identifying the optimal site for Aclara's planned separation facility in the United States (the "Location Study

The SelectUSA program fosters business investment that supports economic development and job creation in the United States. To date, SelectUSA has facilitated over $250 billion in investments, creating or retaining more than 230,000 jobs across the country.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
First Helium Closes Upsized $3.64 Million Placement

First Helium Closes Upsized $3.64 Million Placement

Not for distribution to United States newswire services or for dissemination in the United States.

First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC) today announced the closing of its upsized non-brokered private placement financing which was previously announced in the Company's press release dated October 16, 2024 and October 21, 2024. First Helium issued 60,666,671 units ("Units") at a price of $0.06 per Unit for gross proceeds of $3,640,000.26 (the "Offering) . All monetary figures in Canadian Dollars.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Toronto Stock Exchange, Aclara Resources Inc., The View from the C-Suite

Toronto Stock Exchange, Aclara Resources Inc., The View from the C-Suite

Ramon Barua, Chief Executive Officer, Aclara Resources Inc. ("Aclara Resources" or the "Company") (TSX: ARA), shares their Company's story in an interview with TMX Group.

The View From The C-Suite video interview series highlights the unique perspectives of listed companies on Toronto Stock Exchange and TSX Venture Exchange. Videos provide insight into how company executives think in the current business environment. To see the latest View From The C-Suite visit https://www.tsx.com/en/c-suite

About Aclara Resources Inc. (TSX: ARA)

Aclara Resources Inc. (TSX: ARA) is a development-stage company that focuses on heavy rare earth mineral resources hosted in Ion-Adsorption Clay deposits. The Company's rare earth mineral resource development projects include the Penco Module in the Bio-Bio Region of Chile and the Carina Module in the State of Goiás, Brazil.

Aclara's rare earth extraction process offers several environmentally attractive features. Circular mineral harvesting does not involve blasting, crushing, or milling, and therefore does not generate tailings and eliminates the need for a tailing's storage facility. The extraction process developed by Aclara minimizes water consumption through high levels of water recirculation made possible by the inclusion of a water treatment facility within its patented process design. The ionic clay feedstock is amenable to leaching with a common fertilizer main reagent, ammonium sulfate. In addition to the development of the Penco Module and the Carina Module, the Company will continue to identify and evaluate opportunities to increase future production of heavy rare earths through greenfield exploration programs and the development of additional projects within the Company's current concessions in Brazil, Chile, and Peru.

Aclara has decided to vertically integrate its rare earths concentrate production towards the manufacturing of rare earths alloys. The Company has established a U.S.-based subsidiary, Aclara Technologies Inc., which will focus on developing technologies for rare earth separation, metals, and alloys. Additionally, the Company is advancing its metals and alloys business through a joint venture with CAP S.A., leveraging CAP's extensive expertise in metal refining and special ferro-alloyed steels.

Product or service names mentioned herein may be the trademarks of their respective owners.

To learn more, visit: https://www.aclara-re.com/

SOURCE Toronto Stock Exchange

MEDIA CONTACT:
Ramon Barua
Chief Executive Officer
investorrelations@aclara-re.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227819

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
West High Yield

West High Yield Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×