The Conversation (0)
West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY,OTC:WHYRF) (FSE: W0H) (the "Company" or "West High Yield") is pleased to announce that the British Columbia Ministry of Mines and Critical Minerals (MCM) has officially issued the Mines Act Permit (the "Permit") authorizing the development and operation of the Record Ridge Industrial Mineral Mine ("RRIMM" or the "Project"), located near Rossland, British Columbia.
This approval marks a transformational milestone for West High Yield, its shareholders, and the community -the culmination of years of rigorous environmental review, detailed technical evaluation, and extensive Indigenous and community engagement. The Project represents one of the more advanced critical mineral development opportunities in North America, containing magnesium, silica, nickel, and iron - key materials essential to clean energy technologies, advanced manufacturing, and the global energy transition.
"This major milestone represents years of disciplined technical, regulatory, and community collaboration," said Frank Marasco, President and CEO of West High Yield. "The RRIMM Permit validates the strength of our Project, our team, and our long-term vision. We extend our sincere appreciation to our Indigenous partners, government officials, local communities, consultants, contractors, and shareholders for their continued support throughout this rigorous process. With this authorization, we are now positioned to move from permitting into construction - a transformative step for the Company and all its stakeholders"
Key Highlights
- Mines Act Permit Granted: Authorizes mine construction and operation of RRIMM under comprehensive environmental and regulatory oversight.
- Critical Minerals Portfolio: Focused on magnesium and silica with significant co-recoverable nickel, and iron, initially shipped to a third-party processor during this initial phase of the Project.
- Strategic Indigenous Partnership: Construction and mining to proceed in collaboration with Skemxist Solutions, a partner company of the Osoyoos Indian Band (OIB), ensuring Indigenous leadership in environmental management and contracting.
- Economic Impact: The Project will provide local employment and business opportunities, support regional economic growth, and align with British Columbia's and Canada's Critical Minerals Strategies.
Next Steps: Moving Toward Development and Early Cash Flow
Following Permit issuance, West High Yield and its technical consultants will complete post-permit environmental, safety and engineering compliance activities as required by the Ministry. Upon completion, the Company and Skemxist Solutions will commence site preparation and the construction of access roads and mine infrastructure to advance the Project development.
During initial phase of operations, the ore from RRIMM will be sold to a U.S. buyer who will transport it to a processing facility of their choice. This represents a transitional step while we prepare for downstream development in Canada. The Project's immediate focus is to begin small-scale mining under comprehensive environmental oversight and generate early cash flow. This initial phase lays the foundation for future investment into a domestic processing facility.
West High Yield also plans to amend the Permit in the future to support a responsible expansion of production capacity and to develop Canada's first magnesium-refining facility, creating hundreds of long-term jobs and positioning British Columbia as a North American leader in critical-mineral processing and value-added manufacturing.
Support from the Osoyoos Indian Band
"We are pleased to see the Record Ridge Industrial Mineral Mine moving forward under this Permit," said Chief Clarence Louie of the Osoyoos Indian Band (OIB). "Through collaboration with WHY Resources and Skemxist Solutions, we are demonstrating that responsible development and Indigenous economic leadership can go hand in hand. This Project brings opportunity, training, and long-term benefits for our people and the entire region. OIB will continue to work with the Company and regulators to ensure the project's impacts are managed and the environment protected."
A Responsible Start with a Long-Term Vision
The RRIMM is a low-impact, small-scale project designed with community safety and environmental protection as top priorities. Operations involve drilling, blasting, crushing, and hauling - with no chemical processing or refining onsite. There are no tailings, no process water, and no smelting emissions. The Project's design minimizes environmental risk while building the foundation for long-term value creation within Canada. It also advances national goals of securing domestic supplies of critical minerals such as magnesium, silica, nickel, and iron - all essential for electric vehicles, fuel cells, solar panels, and semiconductors - key components of the clean-energy transition.
"The RRIMM represents a responsible and forward-looking ESG approach: start small, protect the environment, generate local benefits, and scale responsibly as partnerships and investments grow," added Marasco.
Future verticals under evaluation include magnesium oxide and silica production, pharmaceutical-grade magnesium, and magnesium wallboard, each contributing to Canada's clean-energy economy and global decarbonization goals.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company, established in 2003, and 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.
About Skemxist Solutions
Skemxist Solutions is an Indigenous-led contracting firm specializing in mining, construction, and environmental management services across British Columbia. Through partnerships with Indigenous communities, Skemxist delivers projects that uphold environmental integrity while generating long-term local economic benefits.
Qualified Person
Rick Walker, B.Sc., M.Sc., P.Geo., the Company Geologist, is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.
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.
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/271315
