West High Yield receives permit for Record Ridge

Executive Summary

• West High Yield Resources has received the Mines Act permit from the B.C. Ministry of Mines and Critical Minerals, authorizing the development and operation of the Record Ridge Industrial Mineral Mine (RRIMM) near Rossland, B.C.
• The project focuses on extracting critical minerals including magnesium, silica, nickel, and iron, with initial operations involving small-scale mining and shipping ore to a third-party processor in the U.S. to generate early cash flow.
• The company plans to eventually expand production capacity and develop Canada's first magnesium refining facility, with construction and site preparation to begin following post-permit compliance activities.

Key Details

• Permit Issuance: The B.C. Ministry of Mines and Critical Minerals issued the Mines Act permit, authorizing mine construction and operation under comprehensive environmental and regulatory oversight.
• Project Location: Record Ridge Industrial Mineral Mine (RRIMM), located near Rossland, British Columbia.
• Mineral Portfolio: The deposit contains magnesium, silica, nickel, and iron.
• Operational Strategy (Initial Phase):
  • Ore will be sold to a U.S. buyer for transport to a processing facility of their choice.
  • This serves as a transitional step to generate early cash flow while the company prepares for downstream domestic processing development.
  • Operations involve drilling, blasting, crushing, and hauling with no on-site chemical processing, refining, tailings, process water, or smelting emissions.
• Indigenous Partnership: Construction and mining will proceed in collaboration with Skemxist Solutions, a partner company of the Osoyoos Indian Band, ensuring indigenous leadership in environmental management and contracting.
• Future Expansion Plans:
  • West High Yield plans to amend the permit to support expanded production capacity.
  • Long-term goal is to develop Canada's first magnesium refining facility.
  • Future verticals under evaluation include magnesium oxide, silica production, pharmaceutical-grade magnesium, and magnesium wallboard.
• Technical Data: The project is based on a Preliminary Economic Assessment (PEA) prepared by SRK Consulting (Canada) Inc. on April 18, 2013, which identified approximately 10.6 million tonnes of contained magnesium.
• Qualified Person: Rick Walker, BSc, MSc, PGeo, company geologist, has reviewed and approved the technical information.

Notable Quotes

• Frank Marasco, President and CEO: "This major milestone represents years of disciplined technical, regulatory and community collaboration... With this authorization, we are now positioned to move from permitting into construction -- a transformative step for the company and all its stakeholders."
• Chief Clarence Louie, Osoyoos Indian Band: "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."