VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 11, 2014) - Highbank Resources Ltd. (TSX VENTURE:HBK)(FRANKFURT:V7O), (the "Company").
B.C. and First Nations sign first LNG revenue-sharing agreements: http://ow.ly/vEFLB
The revenue-sharing agreements with Lax Kw'alaams and Metlakatla First Nations share a portion of provincial government revenues from Sole Proponent Agreements ("SPA") related to the Grassy Point lands, and proponents Aurora LNG and Woodside. The Grassy Point lands have been identified as the potential site for new LNG export facilities and the SPAs give the proponents the exclusive right to move forward with activities to inform planning for LNG development.
Victor N. Bryant states that, "cooperative agreements such as these, and our agreement with the Metlakatla (HBK- Metlakatla nr -November 5, 2012 http://ow.ly/vEFTe ) symbolizes the essential local community engagements that will see these LNG projects through to completion."
B.C. Minister of Aboriginal Relations and Reconciliation John Rustad, comments… "I applaud the vision and commitment of the Lax Kw'alaams and Metlakatla leadership and their communities. This kind of collaboration with First Nations will underpin the economic security of their communities now and in the future and create greater certainty for the First Nations, industry and government."
Highbank updates on Swamp Point North, Portland Canal aggregates project:
The Company has achieved another milestone in completing our financial obligation to the Ministry of Energy and Mines ("MEM") and the people of British Columbia with this final payment of a total $189,500 for the reclamation security deposit, as required prior to the Company initialing mobilization to the project site.
The Company has submitted our Occupant License to Cut ("OLTC") application with the Ministry of Forest, Lands and Natural Resource Operations "(FLNRO"). Mr. Stan Spletzer, V.P. of Aggregate Operations has sourced local first nations to complete the logging upon receipt of the OLTC permit.
The Company has also called for bids for the construction of the 'Load Out' barge and moorings facility, a key piece of the project for shipping aggregate to projects at Grassy Point (35 miles south by water), the Port of Prince Rupert and area infrastructure expansion, and the proposed $11 billion Pacific Northwest LNG facility proceeding to permit on Lelu Island.
On behalf of the Board of Directors of HIGHBANK RESOURCES LTD.
Victor N. Bryant, CEO/President
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