West High Yield (W.H.Y.) Resources Ltd.
TSX VENTURE : WHY

West High Yield (W.H.Y.) Resources Ltd.

April 25, 2008 09:15 ET

West High Yield Announces 2007 Annual Financial Results

CALGARY, ALBERTA--(Marketwire - April 25, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US PERSONS.

West High Yield (W.H.Y.) Resources Ltd. ("West High Yield" or the "Company") (TSX VENTURE:WHY) is pleased to announce the release of its financial results for the year ended December 31, 2007 and the Management's Discussion and Analysis ("MD&A") dated April 24, 2008. The audited financial statements and related MD&A for the period ended December 31, 2007 were filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.

Highlights

- Phase 3 of the Company's 2007 core drilling program was completed in November, 2007. During 2007, approximately 6,279 metres of core was drilled on the Company's property near Rossland, British Columbia.

- The Company previously announced that it had received the analysis for the 31 drill holes completed on its 2007 Diamond Drill Program drilled on the Company's properties. The assay results for drill holes were provided by Assayer Canada of Vancouver, British Columbia.

- In the course of its exploration activities on its claims, the Company intersected broad zones of Ultramafic rock containing magnesium, nickel and cobalt mineralization.

- During the quarter ended December 31, 2007, the Company recorded a net loss of $318,962 or $0.01 per share (year to date $2,239,560 or $0.06 per share) compared to a net loss in the corresponding period of 2006 of $572,369 or $0.02 per share (year to date $1,986,511 or $0.07 per share). At December 31, 2007, the Company had a working capital surplus of $2,703,304 compared to a working capital surplus of $1,657,594 at December 31, 2006. The current working capital surplus position will allow the Company to fund this year's exploration activities.

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, magnesium and cobalt properties.

READER ADVISORY

This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with mining exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other explorers and producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

40,820,794 Common Shares Issued

The TSXV has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • West High Yield (W.H.Y.) Resources Ltd.
    Frank Marasco
    President and Chief Executive Officer
    (403) 660-3488
    (403) 206-7159 (FAX)
    Email: frank@whyresources.com
    or
    West High Yield (W.H.Y.) Resources Ltd.
    28 Arbour Lake Drive N.W.
    Calgary, Alberta T3G 3N8
    or
    West High Yield (W.H.Y.) Resources Ltd.
    Craig G. Robson
    Vice President, Corporate Development
    (778) 886-7961
    (604) 274-1431 (FAX)
    Email: cgrobson@shaw.ca or craig@urg.ca
    or
    West High Yield (W.H.Y.) Resources Ltd.
    Suite 520, 700 West Pender Street
    Vancouver, B.C. V6C 1G8