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

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

March 21, 2007 08:30 ET

West High Yield Announces Completion of Testing on 2006 Drilling Program, Appointment of Investment Advisors and 2007 Drilling Program

CALGARY, ALBERTA--(CCNMatthews - March 21, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.

West High Yield (W.H.Y.) Resources Ltd. (TSX VENTURE:WHY) ("West High Yield" or the "Company") is pleased to announce that it has completed the drilling and testing of 21 drill holes of its 2006 Phase 2 Diamond Drill Program on its properties located in Rossland, British Columbia. The Company previously reported on the first 15 drill holes completed and accordingly the Company now reports on the assay results of the last six drill holes.

DRILLING RESULTS UPDATE

ALS Chemex provided the most recent assay results from the last 6 holes SR06-13 and SR06-17 through SR06-21 on the Midnight Property. A narrow quartz vein with free gold of 0.7 ft. (0.2 m) in true thickness was intersected in hole SR06-18 which returned 36.3 g/t Au. This quartz vein is postulated to be the downdip extension of one of the high grade narrow veins exploited in the old IXL workings prior to 1984, which yielded 811,746 grams of gold. Five cross sections in the Midnight, IXL and OK claims were drawn for the use of geological interpretation and tonnage calculation in the Midnight workings. Gold resourcea in the vicinity of Midnight 3100 Level are estimated to be 220,000 tons averaging 1.82 g/t.

Aside from hole SR06-18, two holes drilled returned insignificant gold values but returned significant nickel values of economic interest which are emplaced in the country rock of black serpentinite. Hole SR06-17 returned nickel values of 1,837 g/t (4 lbs/t) over 400 ft. (122 meters) in true width. Hole SR06-20 returned 1,814 g/t (4 lbs/t) nickel over 145 ft. (44 meters) in true width. Hole SR06-18 described above with a quartz vein of high gold values also intersected nickel bearing serpentinite returning 1,735 g/t (3.8 lbs/t) nickel over 150 ft. (46 meters) in true width. Hole SR06-21 at the portal of Midnight 3100 level returned relatively low gold values of 2.39 g/t Au over 5 ft. (1.5 meters) in true width but returned significant nickel values in the black serpentinite of 1,908 g/t (4.2 lbs/t) nickel over 265 ft.(80 meters) in true thickness. It should be noted that the present nickel values are indicated by the standard ICP analytical method from ALS Chemex. Further improved nickel values may be anticipated from the "improved nickel extraction leaching experiment" currently being conducted by the Company.

The results of holes SR06-13 and SR06-19 are not impressive and without significant gold values of 0.28 g/t Au over 20 ft. or 0.57 g/t Au over 3 ft. These intersections occur in white quartz veins hosted by volcanic rocks (andesite). Upon review, these zones may not represent the originally targeted veins, based on the newly surveyed plan which became available after drilling was completed in 2006. Accordingly, another deep drill hole is proposed at the same location in the 2007 drilling program to test the downward extent of northerly striking high grade No. 1 vein of the Midnight 3200 level, which was mapped and sampled by previous operators.

SUMMARY OF NICKEL MINERALIZATION

As noted in the last progress report, significant nickel mineralization of commercial interest in the black serpentinite in Ivanhoe Ridge is strongly indicated by sampling results, assayed up to 0.245 % or 5.4 lbs nickel/ ton (weighted average) from the standard chip and channel samples across true width and adequate spacing over one kilometer intermittent exposures along the Cascade Highway, about 7 km south of the Midnight property. Again, it should be noted that the 1969 selected underground samples of the black serpentinite in the Midnight workings returned up to 0.45 % (4,500 g/t or 10 lbs/t) nickel. However, the serpentinites tested in the 2006 program on the Midnight property returned relatively lower nickel values but still indicate significant nickel values of economic interest. Nickel mineralization in four of the recently tested holes is summarized in the following table:



----------------------------------------------------------------------------
TRUE GRADE
FROM TO WIDTH nickel g/t
SITE Drill Hole ft ft ft (m) (lbs/t) REMARK
----------------------------------------------------------------------------

Excluded 11
intervened dykes
of andesite, diorite
and lamprophyre,
SR06-17 55 606 400 (122) 1,837 (4) 1 - 4 ft. thick.
----------------------------------------------------------------------
6 Without intervened
SR06-18 20 1 150 (46) 1,735 (3.8) dykes
91
----------------------------------------------------------------------
Without intervened
SR06-20 41 186 138 (42) 1,814 (4) dykes
----------------------------------------------------------------------------

Excluded 102 ft. of
intervened dykes of
andesite, diorite
Midnight and listwanized
3100 level SR06-21 76 529 265 (80) 1,908 (4.2) serpentinite.
----------------------------------------------------------------------------


RESOURCES IN THE MIDNIGHT PROPERTY

In the 2006 drilling program, a total of 12 holes were drilled in the vicinity of the Midnight 3100 level workings. Narrow, erratic high grade gold intercepts ( for example, 75 g/t Au across 2 ft., 51 g/t Au over a true width of 2 ft. and 40 g/t Au across a true width of 2.2 ft. ) were encountered in 9 holes drilled on the Midnight property. Geological and grade continuity of these high grade gold concentrations cannot be reasonably assumed. However, the drilling results identified a mineral resource of low grade gold bearing materials (potential bulk mineable gold concentrations) of which quantity and grade can be confidently estimated on the basis of sampling results from nine holes, old workings stope data and three cross sections for the present tonnage estimation. An area of influence in resource calculation was assumed of 10 meters in most cases (about 70%). The gold bearing material was assumed beyond 10 meters but within 30 meters. Overall, present calculations result in an estimated resource of 220,000 tons averaging 1.82 g/t Au in the Midnight property. The Company's field activities are supervised and the technical data for this report was prepared by H. Kim, P.Geo./P.Eng. (Practicing), a "Qualified Person" as defined by NI 43-101.

2007 PHASE 3 DRILLING PROGRAM

The application for the 2007 Rossland field program was filed with the BC Ministry of Energy, Mines and Petroleum Resources. The 2007 field program will take place in two separate areas, the Midnight property and Ivanhoe Ridge which are about seven kilometers apart. The Company has retained the use of two drilling rigs and proposes to drill three to five holes on the Midnight property and approximately 20 holes on the Ivanhoe Ridge property, subject to field mapping. Before drilling, the Company plans on completing a comprehensive line grid map and soil sampling on the Ivanhoe Ridge property, where the nickel bearing ultramafic rocks (black serpentinite) occur in an area of about three square kilometers.

INVESTOR RELATIONS AGREEMENTS

The Company also reports that it has entered into two service agreements with investment advisors. The Company retained Working Capital Corporation of Calgary, Alberta ("WCC") for one year pursuant to an agreement (the "Agreement") for investor relations services. WCC shall be paid a monthly fee of $6,500 for the one year term and receive 250,000 options to purchase common shares at $0.40 per share for one year and with various vesting provisions. The Company has also retained Bay Street Connect of Toronto, Ontario ("Bay Street") to provide similar investor relations services for a six-month term. Bay Street shall be paid a monthly fee of $5,000 and receive 100,000 options to purchase common shares of the Company at $0.40 per share with various vesting provisions.

West High Yield is a junior 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 properties.

READER ADVISORY

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

34,585,144 Common Shares Issued

The TSX Venture Exchange has neither approved nor disapproved of 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 and Investor Relations
    (604) 685-5851 or Toll Free: 1-888-685-5851
    (604) 685-7349 (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 2T8