West High Yield (W.H.Y.) Resources Limited: Releases Financial Results
CALGARY, Aug. 18, 2016 - West High Yield (W.H.Y.) Resources Ltd. ("West High Yield" or the "Company") (TSX VENTURE:WHY) announces the release of its financial results and Management Discussion and Analysis ("MD&A") for the six months ended June 30, 2016. The unaudited interim condensed financial statements and related MD&A for the six months ended June 30, 2016 have been filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com. The Company has made progress on the environmental study, stakeholder engagement, and mine plan development on the Company's Record Ridge South Property as required by the Environmental Assessment Certification and Mine Permit application processes.
The Company has also engaged Drinkard Metalox, Inc. ("Drinkard") of Charlotte, North Carolina to perform a series of hydrometallurgical tests on the Company's magnesium ore to evaluate magnesium processing and recovery alternatives. Drinkard works with companies from around the world in developing and commercializing hydrometallurgical and electrochemical processes. The Company is encouraged with test results to date and Drinkard is now engaged in micro-plant scale production simulation testing at their facilities. 1,000 pounds of ore is being ground to specification for processing.
The Company continues to pursue additional financing for the environmental study and mine plan development for its magnesium project and for the extraction and processing of 10,000 tonne bulk samples of magnesium and gold on the Company's Record Ridge South Property as approved by the British Columbia Ministry of Energy and Mines.
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.
53,598,624 Common Shares Issued
Reader Advisory
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 plans to develop its properties and pursue financing for its projects. 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 (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Contact
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco, President and Chief Executive Officer
(403) 206-7159
(403) 660-3488
frank@whyresources.com
Dwayne Vinck, Chief Financial Officer
(403) 257-2637
(403) 206-7159
vinck@shaw.ca
