Highbank Resources Ltd.

Highbank Resources Ltd.

November 04, 2011 09:00 ET

Highbank Completes Phase 1 Drill Program in the Highland Valley

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 4, 2011) - Highbank Resources Ltd. (TSX VENTURE:HBK)(FRANKFURT:V7O) (the "Company") and MOAG Copper Gold Resources Inc. ("MOAG") report that they have completed the 1st phase recommended diamond drilling program on the Chataway Creek area of the Chat Block. The Chataway Zone area is located in the northwest corner of our extensive property in the world class Highland Valley copper porphyry district, Kamloops Mining Division of British Columbia. Over 1.8 billion tonnes of resources in five deposits have been discovered in the Highland Valley district to date.

The Frontier Drilling team has completed 9 holes- 5,000 ft. (1,525 meters) of the Phase 1 drilling program. Sampling and logging is being conducted and samples are expected to be shipped for assaying to Eco-Tech Labs within the next few weeks.

The Company has an option to acquire a 50% interest in the Highland Valley property from MOAG. The Property covering an area over 9400 hectares (36 square miles) is located 7 kilometers southeast of the Highmont pit, part of Teck's Highland Valley Copper, Canada's largest operating base metal mine and 4 kilometers north of high grade copper producer Craigmont Mines.

Anomalous MMI geochemical results were obtained over a wide zone of intersecting faults that follows Chataway Creek. An MMI anomaly area was also detected over the Chataway Zone south of Chataway Lake where a historical resource of approximately 500,000 tonnes grading 1.58% copper was reported. The resource estimate was based on rather sparse diamond drilling and it is non-compliant under NI 43- 101.

Further details of the property can be reviewed in the report entitled 'Geological Report on the Highland Valley Property' by William R. Bergey, P.Eng., Consulting Geologist dated September 25, 2009 and filed on SEDAR and the Company's website at www.HighbankResources.com.

This news release has been reviewed and approved by Mr. William R. Bergey, P.Eng., the qualified person under NI 43-101.

On behalf of the Board of Directors of HIGHBANK RESOURCES LTD.

Jake Bottay, President and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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