High Ridge Resources Inc.
TSX VENTURE : HRR

High Ridge Resources Inc.

October 18, 2006 14:00 ET

High Ridge Resources Inc.: Corporate Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 18, 2006) - High Ridge Resources Inc. (TSX VENTURE:HRR) announces:

Chuchi, Central British Columbia, 32 km SE of Terrane Metals' Mount Milligan deposit. Geophysical data on HRR's Chuchi property was recently acquired from Pacific Geophysical Ltd.; the Company was relieved of the need to perform certain planned work, thereby saving the Company considerable costs in field work. The Company is currently evaluating the data and should be able to combine Phases I and II into a greater, more productive field effort.

Silver Bay, Nelson Mining District, British Columbia, 23 km S of the past-producing Bluebell silver/lead/zinc mine. Geophysical survey was recently completed on the Company's Silver Bay property. Interpretation of data from SJ Geophysics will be conducted forthwith and results will be released when available.

The Company is in the process of conducting due diligence relating to several business opportunities/mineral properties located outside Canada, but can give no assurance that any such investigations will lead to agreements in principle or otherwise.

Board and change of control: - On October 10, 2006, the TSX Venture Exchange accepted documentation relating to the transfer within escrow of a total of 1,805,584 common shares of the Company (the "Shares") to Company President and CEO Gary Anderson from Brian Fairbank (as to 67,501 Shares) and Tywell Management Inc. ("Tywell") (as to 1,738,083 Shares) for total cash consideration of $129. Brian Fairbank is the principal of Tywell. Of the Shares transferred, Mr. Anderson acquired beneficial ownership over 1,290,000 Shares, and direction and control over 515,584 Shares (the "Fairbank Shares"). The Fairbank Shares will be transferred back to Mr. Fairbank, or his nominee, upon release of such shares from escrow in March 2007. Please refer to Mr. Anderson's news release and Early Warning Report dated October 5, 2006 filed on SEDAR.

The Company has also accepted the resignation of Brian Fairbank as a director and officer of the Company effective October 13, 2006, Thank you to Mr. Fairbank for his contribution to HRR.

High Ridge Resources Inc. is focused on large scale exploration projects. The company currently has three mining exploration properties in British Columbia; Chuchi and Newton Mountain (Copper-Gold Porphyry); and Silver Bay (Massive Sulphide, Silver, Lead, Zinc).

ON BEHALF OF THE BOARD

HIGH RIDGE RESOURCES INC.

Gary Anderson, President and Chief Executive Officer

This News Release contains forward-looking statements regarding the timing and content of upcoming programs. Actual results may differ materially from those currently anticipated in such statements. The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information