West High Yield (W.H.Y.) Resources announces $750K private placement

News Release


CALGARY, ALBERTA – September 1, 2017. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) announces that it is proposing to complete a non-brokered private placement of up to $750,000 of units (“Units”). Each Unit shall be issued at a price of $0.30 and shall consist of one common share in the capital of the Company (a “Common Share”) and one-third of one common share purchase warrant (a “Warrant”). Each whole Warrant shall entitle the holder to purchase one additional Common Share at an exercise price of $0.45 for a period of one year from the date of issuance of the Warrant. The proposed private placement is subject to receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.

The net proceeds of the private placement will be used for general corporate purposes and for the continuation of the environmental base line study, environmental assessment study and mine plan and permit application.

The Company also announces that it has commissioned work on an Industrial Quarry Permit application for its Ivanhoe Ridge deposit near Rossland, British Columbia. The Industrial Quarry Permit sought under the Mines Act (British Columbia) will allow for the extraction and sale of up to 249,999 tonnes per annum of industrial rock. The Company is also in the process of developing potential customers with processing facilities and the ability to process the industrial rock. It is anticipated that industrial rock sales will provide cash flows from operations while continued mine plan and permit application efforts are being made. The Industrial Quarry Permit application process will be led by Greenwood Environmental of Vancouver, British Columbia and SRK Consulting. The proposed rock quarry is not subject to the Environmental Assessment Act (British Columbia) or the Canadian Environmental Assessment Act. The Company will engage with the BC Ministry of Energy Mines and Petroleum Resources on information requirements and timelines.

About West High Yield

West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties.

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

Dwayne Vinck
Chief Financial Officer
West High Yield (W.H.Y.) Resources Ltd.
Telephone: (403) 257-2637
Facsimile: (403) 206-7159
Email: vinck@shaw.ca