West High Yield (W.H.Y.) Resources Ltd. Provides Update Regarding Record Ridge Project Court Decision

Executive Summary

• West High Yield Resources received a temporary injunction from the Supreme Court of British Columbia preventing ground-disturbing construction at its Record Ridge Industrial Minerals Mine (RRIMM) project pending a judicial review of an environmental assessment determination.
• The company has filed a notice to appeal the injunction and intends to seek an increase in the security posted by the opposing party (Save Record Ridge Action Committee), arguing the current amount is insufficient given potential delay damages.
• Concurrently, the company announced a definitive offtake agreement with Galaxy Trade and Technology, LLC, which it cites as a factor in the potential financial impact of the project delay.

Key Details

• Injunction Details: The Supreme Court of British Columbia granted a temporary injunction requested by the Save Record Ridge Action Committee (SRRAC), halting ground-disturbing construction activities at the RRIMM Project near Rossland, BC.
• Judicial Review Hearing: The hearing concerns the Chief Environmental Assessment Officer’s (CEAO) August 2025 determination that the project does not require an environmental assessment under the BC Environmental Assessment Act because it falls below production thresholds and no discretion was exercised to order one.
• Schedule Change: The Court accelerated the Judicial Review Hearing from August 17, 2026, to May 5, 2026, acknowledging construction timing dependencies on weather conditions.
• Company Response: West High Yield filed a leave to appeal notice on March 11, 2026, believing regulatory approvals were properly issued and the CEAO’s determination contained no errors. The company intends to fully defend its position.
• Security Review: The company is seeking a review of the security posted by SRRAC. The current court-ordered security is $162,500, which the company deems insufficient relative to potential damages from the project delay.
• Offtake Agreement: The company announced a definitive offtake agreement with Galaxy Trade and Technology, LLC, dated March 12, 2026. This agreement is referenced in the context of the potential financial impacts of the injunction.
• Project Status: The RRIMM Project remains permitted under the BC Mines Act. The company continues to maintain permits, regulatory compliance, and advance post-permit compliance requirements and preparatory work.

Notable Quotes

• "The Company believes the regulatory approvals obtained for the RRIMM Project were properly issued, that there are no errors in the CEAO's August 2025 determination, and intends to continue fully defending its position through the legal process."
• "The current amount of security ordered by the Court is $162,500, which the Company believes is insufficient relative to the potential damages associated with the delay of the RRIMM Project."