West High Yield

Investor Insight

West High Yield’s advanced-stage Record Ridge magnesium-silica project is now fully permitted and moving toward production. Backed by a positive pre-feasibility study and strong support from the Osoyoos Indian Band, the project is well-positioned to transition into development.

Overview

West High Yield (TSXV:WHY,FSE:W0H) is an exploration and development mining company focusing on strategic critical minerals with a high-grade magnesium/silica/nickel/iron project nearing production. The company’s Record Ridge property project leverages the opportunity to create a new supply of magnesium outside of China and Russia. West High Yield has an experienced management team ready to bring its project to production.

West High Yield’s advanced 100-percent-owned Record Ridge magnesium project in British Columbia, Canada is poised to create a secure, strategic domestic supply chain to cater to North America’s magnesium and silica demand. The company has received a draft permit from the British Columbia Ministry of Mining and Critical Minerals outlining the proposed conditions for proceeding with planned extraction activities. WHY has undertaken a thorough review of the permit, working with internal and external subject matter experts to evaluate the requirements and ensure all technical, environmental, and operational considerations are fully addressed.

Once production commences, West High Yield will start generating cash flow through the sale of ore and will seek additional offtake agreements.

The Record Ridge asset has one of the largest and highest-grade magnesium/silica deposits in North America, and globally. The company’s resource estimate shows 43 million tonnes (Mt) of ore at 24.6 percent magnesium, which implies a world-class asset containing 10.6 Mt of magnesium. The resource further contains 18.9 Mt of silica (Si02), 3.8 Mt of iron (Fe203) and 103,200 tonnes of Nickel (NiO). In addition, West High Yield’s pre-feasibility study indicates strong economics with an after-tax NPV of 5 percent of $872 million, an internal rate of return (IRR) of 72 percent over a 172-year mine life, and payback in 1.5 years.

Additionally, the company has developed a green mining and refinement process to minimize carbon emissions during production. This green process utilizes over 94 percent of the ore extraction, not only of magnesium but substantial saleable quantities of silica, nickel and iron. Magnesium is widely used in renewable energy technologies, so maintaining a strong ESG rating is essential for downstream manufacturing.

Record Ridge magnesium mine project general plan

WHY continues to engage with the local community and government on the Record Ridge permitting process and with the plans to begin construction and mining. In 2023, WHY Resources signed a cooperation agreement with the Osoyoos Indian Band (OIB). The agreement ensures OIB oversight to protect environmental and economic interests, with OIB’s Skemxist Solutions providing services for construction and mining operations.

An experienced management team with expertise throughout the mining industry leads the company towards fully leveraging its promising asset. Experts in geology, corporate administration and engineering create confidence in the team’s ability to reach its goals.

Company Highlights

• Flagship Asset for North America: West High Yield’s Record Ridge project has the potential to strengthen and secure North America’s onshore strategic critical mineral supply chain, reducing reliance on China and Russia for magnesium, silica, and nickel.
• Mines Act Permit Granted: The British Columbia Ministry of Mines and Critical Minerals (MCM) has officially issued the Mines Act Permit authorizing the development and operation of the Record Ridge Industrial Mineral Mine (RRIMM) near Rossland, British Columbia.
• Strong Economic Viability: A completed pre-feasibility study confirms robust project economics, supporting WHY’s commitment to moving forward with development.
• Sustainable, Low-Emission Operations: WHY prioritizes clean energy solutions, aiming to minimize emissions and maintain a strong ESG rating. The company’s low-cost, high-quality magnesium, silica, nickel, and iron products are produced with virtually zero CO₂ emissions.
• Experienced Leadership: A seasoned management team is steering WHY toward fully unlocking the potential of its assets, driving the company’s vision for a sustainable and strategically valuable critical minerals operation.

Key Project

Record Ridge Magnesium Mine

Record Ridge commercial proprietary hydrometallurgical process

The 100-percent-owned Record Ridge project spans 8,972 hectares, approximately 7.5 kilometers southwest of Rossland, BC. The project is only 5 kilometers away from the US-Canadian border and has excellent regional infrastructure, including power, water, roads, a proximate labor force and transportation. Permit application process is in its final stage with a draft permit under review and a final permit expected in the near term. .

Project Highlights:

• Nearing Production: The advanced-stage project is in the final technical review for its mining permit to initiate production. Once in production, the company expects to generate cash flow from ore sales, pursue additional offtake agreements, and leverage positive cash flow to advance development of the property’s gold deposits.
• Sustainable Production with Minimal Carbon Emissions: The HCI leaching process the company will be using produces minimal CO2 emissions. The company’s specific process was developed to recycle the HCI and produce virtually no waste and low environmental impact. These efforts result in a top-tier ESG rating that will reflect on downstream manufacturers.

High Purity MgO Plant

WHY is developing an advanced-stage Magnesium Oxide (MgO) Plant focused on producing multiple critical and strategic mineral products. The project is on track for a feasibility study in 2025 and aims to deliver high-purity MgO (>99 percent) and Mg(OH)₂, with valuable byproducts including nickel (Ni), iron (Fe), and silica (SiO₂).

A 2022 Pre-Feasibility Study (PFS) highlighted the project’s strong economics, demonstrating a rapid 1.5-year payback period. Additionally, a market study supports a premium pricing outlook, with baseline prices of US$1,500/Mt for >98 percent MgO and US$2,200/Mt for >99 percent MgO.

The company will commence pilot plant testing, followed by a feasibility study for the commercial-scale plant, scheduled for 2025.

The British Columbia Ministry of Mines and Critical Minerals (MCM) has issued the Mines Act Permit authorizing the development and operation of the Record Ridge Industrial Mineral Mine (RRIMM). West High Yield and its technical consultants will now complete post-permit environmental, safety, and engineering compliance activities. Once finalized, the company and Skemxist Solutions will begin site preparation and construct access roads and mine infrastructure to advance the Project toward production.

Management Team

Frank Marasco Jr. – Founder, President, CEO and Director

Frank Marasco is the founder of West High Yield Resources. Marasco is also president and director of Big Mountain Development Corp. Over the course of 45 years, Marasco has built and sold 47 successful businesses, including hotels, motels, rental units, RV and mobile home parks, apartments, retail liquor stores, pubs, nightclubs and a retail mall. At the age of 47, he retired and later entered the business sector, focusing on oil and mining. He had purchased 81 oil and gas development sections in S.E. Saskatchewan in the Bakken, as well as gold mines in Rossland, BC. After briefly exploring for and finding gold on the project, Marasco and his team then discovered what is now a world-class, 2,000-acre, high-grade, low-cost, critical mineral magnesium deposit known as Record Ridge.

Barry Baim – Director and Corporate Secretary

Barry Baim brings over 35 years of activating and inspiring teams to achieve profitable revenue growth. His senior leadership experience is diverse having held executive positions with both private and public companies including Tier one CPG and in the natural resource sector mining site development projects in oil sands, 3d seismic, logistics, remote lodging, and other service-related entities in energy, oil, and gas. Baim is currently a director for KMKR Holdings and a past board member with SGV Canada, Millennium Seismic, Paradigm Chemical Technologies, Camelot Exploration and Siksika Resource Developments Ltd.

Patricia L. Nelson – Director

Patricia Nelson was controller for Sabre Petroleum’s, Petroterra Natural Resources and manager of Financial Control for Suncor. She is the vice-chair and director of the In Situ Oil Sands Alliance, director of Altalink, and director of Optiom. Nelson served 15 years as an elected member of the Legislature of Alberta. She was appointed and served as minister of energy, minister of economic development and tourism, minister of government services, and finally, was appointed minister of finance. She served 12 years as a member of the treasury board and the agenda and priorities committee of the government. An active member of the community, she supports charitable organizations such as the kidney foundation, the cancer foundation, heart and stroke and juvenile diabetes.

Maria Marasco – Director

Maria Marasco is an independent businesswoman who has provided services in corporate restructuring finance, acquisitions, and strategic planning. She is also responsible for overseeing management information systems, human resource strategies, and property management systems.

Shelina Hirji – Chief Financial Officer

Shelina Hirji is a designated accountant with over 38 years of experience in infrastructure construction, oil and gas exploration, and mining. Hirji has been engaged in the oil and gas industry since early 1990, starting with various senior accounting and management roles in both public and private companies with extensive participation in growth opportunities. She has been a key member of the executive management team, assuming a strategic role in the overall management of the company. Hirji’s experience in financial management includes financial reporting, corporate accounting, budgeting and forecasting, as well as stewardship of internal controls. Hirji is a member of the Chartered Professional Accountants of Alberta and the advisory committee for the TSX Venture Exchange.

Fouad Kamaleddine – Advisor

Dr. Fouad Kamaleddine is the founder/principal of AIS Inc., an integrated mining consulting partnership that provides technical services to mining companies including processing and metallurgy, project development and engineering studies. He has been an officer and director of many public and private mining companies. Kamaleddine has over 20 years of academic and industry experience with demonstrated success in conducting challenging industrial research leading to several inventions and multiple achievement awards.

Rick Walker – P. Geologist and P. Engineer

Rick Walker has over 25 years of geological and structural mapping experience in the mineral exploration industry. Walker has a strong background, ranging from structurally complex areas to advanced exploration property definition. In addition, he has worked on a wide variety of deposit types, including porphyries, sedimentary exhalative, volcanogenic massive sulphides, low tonnage vein-type, industrial minerals; gold, silver, base metals, rare to strategic metals and diamonds. Walker has delivered significant geological value throughout his career for companies, ranging from junior to major resource companies, both nationally and internationally.

He has also served as a volunteer for industry-related organizations, serving for 12 years as president of the East Kootenay Chamber of Mines, five years as a director of the BC and Yukon Chamber of Mines (now the Association of Mineral Exploration for BC), on the committee that developed the initial Mineral Exploration Code for BC and as an industry representative in the Commission on Resources and Environment (CORE) process resulting in the East Kootenay Land Use Plan.

Corey Peck – Junior Geologist

Corey Peck is a junior geologist who came to West High Yield Resources in the spring of 2007. He studied at the University of Calgary, where he received a B.Sc. in geology, with a minor in earth science. He has extensive training in both the field and lab settings. His skill set encompasses all aspects of geology, geophysics and geography, with particular emphasis on geotechnical logging, mineralogy and mapping. He currently resides full-time in Rossland, BC.