Agreement with First Nations of Great Importance
West High Yield (W.H.Y.) Resources (TSXV: WHY; FRA: W0H) has successfully gained the support of the local Osoyoos Indian Band (“OIB”) for the construction and operation of its Record Ridge Mine in Rossland (British Columbia) near the US border. As the company announces, both parties involved, represented by Skemxist Solutions, a limited partnership of the Osoyoos Indian Band, and the Sutherland Group of Companies (“SGC”), have now signed a corresponding letter of intent. This Letter of Intent covers road construction, mining operations, and various supporting services for the company’s subsidiary Record Ridge Industrial Mineral Mine (“RRIMM”).
The RRIMM project is primarily a magnesium mine, but it also contains other critical minerals. 94% of the material is valuable: 1,000 kg of raw ore contains approximately 430 kg of magnesium oxide (MgO), 420 kg of silicon dioxide, 90 kg of iron oxide, and 2-3 kg of nickel – totaling about 940 kg of valuable products with magnesium and silicon dioxide as the main products. In a simple open-pit mine, reminiscent of a quarry, WHY Resources plans to extract up to 200,000 tons of magnesium ore per year, with the initial permit valid for a period of two years. The mined material will only be crushed on-site. No chemical processing takes place, so no tailings are produced. Subsequently, the crushed raw ore is to be shipped to Korea, where it will be chemically processed in a closed loop.
Agreement with First Nations of Great Importance
OIB Chief Clarence Louie commented: “Governments talk a lot about the importance of critical minerals and reconciliation, but WHY Resources is moving in the right direction here. That’s why British Columbia needs to push this forward now – for the benefit of Canada and for the economic independence of OIB.”
Frank Marasco, President and CEO of WHY Resources, added: “We have been committed from the start to doing the RRIM project right. This letter of intent and the numerous commitments we have already made to address community suggestions show that we are serious about it.”
Chris Sutherland, founder of the Sutherland Group of Companies, stated: “We are excited to work with West High Yield Resources and the Osoyoos Indian Band on this significant project, and we look forward to getting started.”
The letter of intent builds upon a previous cooperation agreement signed between the company and the OIB, and follows the OIB’s own independent review and continued monitoring of the RRIM project, which is located in the traditional territory claimed by the OIB.
The Osoyoos Indian Band Development Corporation plays an important role in job creation and funding public facilities. (www.oib.ca).
The Sutherland Group of Companies has been providing a comprehensive range of services in equipment, logistics, personnel, and security since 1995. The professionals specialize in road construction and maintenance, drilling and blasting, harvesting, crushing and grinding, aggregate sales, shipping services, heavy equipment repair, and transportation services. Website: www.TheSutherland.Group.
The Record Ridge magnesium deposit is located 10 kilometers southwest of Rossland, British Columbia, and according to an independently prepared technical report in accordance with NI 43-101, contains approximately 10.6 million tons of magnesium. WHY Resources is in the final phase of a permitting process through the BC Mine Development Review Committee.
