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For Immediate Release Calgary, Alberta
November 10, 2020
CALGARY, ALBERTA –November 10, 2020 West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) (TSXV:WHY) announces that it has entered into a joint venture with EnviroGold Global for the development, operation, and reclamation of its precious mineral (Au/Ag) rock rejects located on its gold claims in Rossland, BC. The venture is conditional upon the parties receiving approval from the Ministry of Mines in British Columbia and when approved, will help West High Yield in unlocking the tremendous value of the mine reject rocks that were stockpiled on the Company’s claims from historic mining operations on its Rossland property.
The reject rock averaged 2.5 gpt Au based on independently assayed random 99 bulk samples at Metsolve Laboratories, BC. All recoverable saleable minerals and metals will be extracted and marketed including but not limited to recoverable gold and silver. Proceeds from this project will be used by the Company to support advancement of its strategic vision to develop its mineral resource properties in British Columbia.
The extraction and reclamation of the reject stockpile, which is scheduled to commence in December, 2020, will be operated and managed by EnviroGold , with all project costs paid by EnviroGold and then recovered by EnviroGold from the proceeds of sale of the processed reject rock, after which the net proceeds will be split on a 50/50 basis between the project partners.
President and CEO of West High Yield, Frank Marasco Jr. described the transaction as “win-win” for both parties.
“We are excited to partner with EnviroGold to extract the value from our rejects stockpile and use the proceeds to advance our business plan. EnviroGold’s team and experience will assist our Company in unlocking the value in this ready to process asset.” Mr. Marasco said.
EnviroGold CEO James Canning-Ure said he was excited for the opportunity to be working with West High Yield in creating value for the Company from a previously mined resource.
“For mine owners like West High Yield, we not only create an otherwise unavailable passive income stream from waste, but we dramatically reduce a mine’s environmental footprint, mine site maintenance costs, risk and rehabilitation commitment,” Mr Canning-Ure said.
The agreement with EnviroGold supersedes a prior agreement of the Company to mine the reject rocks, which will terminate on November 20, 2020.
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.
About EnviroGold Global
EnviroGold Global is a modern precious metals company with a “Planet before Profit” focus, applying
specialized technologies and processes to recover up to 98% of precious metals from mine tailings, waste and
mine wastewater utilizing cost effective processes with a high regard for environmental standards and
transforming uneconomic mine tailings and waste into a valuable resource. EnviroGold maximizes environmental stewardship and unlocks new streams of shared value for shareholders and community
stakeholders and positively impacts climate change.
For further information, please contact:
President and Chief Executive Officer
West High Yield (W.H.Y.) Resources Ltd.
Telephone: (403) 660-3488
Facsimile: (403) 206-7159
Chief Executive Officer
Telephone: +61 418 745 477
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”,
“intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the Company’s business plans. 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; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the 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 TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this press release. This press release is not for distribution in the United States.