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

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

August 01, 2006 11:23 ET

West High Yield 'W.H.Y.' Resources Commences Trading

CALGARY, ALBERTA--(CCNMatthews - Aug. 1, 2006) -

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 successfully completed its initial public offering (the "Offering"). The Offering was fully subscribed with gross proceeds of $2,000,000. Closing documents for the Initial Public Offering were filed with the TSX Venture Exchange (the "TSXV") and the TSXV issued a bulletin yesterday to list all the common shares of West High Yield for trading on the TSXV commencing Tuesday, August 1, 2006, under the trading symbol "WHY".

The Company also announces that the Board of Directors approved the granting of stock options to officers, directors, employees and consultants of the Company. Options to purchase 3,000,000 common shares were issued by the Company with an exercise price of $0.40 per share. The options are for a term of five years with standard vesting provisions.

West High Yield is an 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 properties.

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 assess sufficient capital from internal and external source. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

32,385,144 Common Shares Issued

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
    Frank Marasco
    President and Chief Executive Officer
    (403) 660-3488
    (403) 206-7159 (FAX)
    Email: frank@whyresources.com
    West High Yield (W.H.Y.) Resources
    Craig G. Robson
    Vice President, Corporate Development and Investor Relations
    (604) 868-7961
    (604) 274-1431 (FAX)
    Email: cgrobson@shaw.ca or craig@urg.ca