Mr. Frank Marasco reports
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. ANNOUNCES FIRST TRANCHE CLOSING OF PRIVATE PLACEMENT AND RECORD RIDGE PROJECT UPDAT
Further to the news release of May 21, 2026, West High Yield (W.H.Y.) Resources Ltd. has closed the first tranche of its previously announced private placement offering of units, and has provided an update on its Record Ridge industrial minerals mine project located near Rossland, B.C., following dismissal of a Record Ridge judicial review.
The closing
The closing consisted of the issuance 1,188,334 units for gross proceeds of $356,500. The units were issued at a price of 30 cents per unit, with each unit consisting of one common share of the company and one-half of one common share purchase warrant. Each full warrant, together with 45 cents, entitles the holder thereof to acquire one additional common share for 12 months from the date of the closing. All securities comprising the units issued on the closing will be subject to a trading hold period expiring four months plus one day from the date of issuance.
The proceeds from the closing will be used by the company to cover expenses and development of the RRIMM project and for general working capital purposes and expenses.
RRIM project update
The company also notes that, as announced earlier today, the Supreme Court of British Columbia dismissed the judicial review challenging the RRIMM project and upheld the British Columbia Environmental Assessment Office's determination that the RRIMM project is not subject to a provincial environmental assessment. As a result, the injunction that had temporarily restricted construction activities pending resolution of the judicial review has been lifted.
About West High Yield (W.H.Y.) Resources Ltd.
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 carbon dioxide emissions.
The company's Record Ridge critical mineral deposit is located approximately 10 kilometres southwest of Rossland, B.C. Based on the independently prepared National Instrument 43-101 preliminary economic assessment titled "Revised NI 43-101 Technical Report Preliminary Economic Assessment Record Ridge Project, British Columbia, Canada," prepared by SRK Consulting (Canada) Inc. and dated April 18, 2013, the deposit contains a measured and indicated mineral resource of 43.0 million tonnes at an average magnesium grade of 24.61 per cent. This corresponds to approximately 10.6 million metric tonnes of contained magnesium. The technical report was prepared in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and is available under the company's profile at SEDAR+.
Qualified person
Rick Walker, BSc, MSc, PGeo, the company geologist, is a qualified person as defined in National Instrument 43-101, and has reviewed and approved the technical information in this press release.
We seek Safe Harbor.
© 2026 Canjex Publishing Ltd. All rights reserved.