Highbank Resources Ltd.
TSX VENTURE : HBK
FRANKFURT : V7O

Highbank Resources Ltd.

August 18, 2006 13:51 ET

Highbank Mobilizes for Sonic Drilling Program

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 18, 2006) - Highbank Resources Ltd. (TSX VENTURE:HBK)(FWB:V7O) -

The Company is in the process of mobilization for the 640 metres (approx. 1900 ft) sonic drilling program on its Swamp Point North aggregate deposit. A permanent camp is being set up for crews to begin road building, drill pad preparation and line cutting for the proposed work program. Drill crews are scheduled for Sept. 4th to begin a conclusive evaluation program to establish the exact composition and volume of the deposit. Additional seismic investigation will also be implemented.

The Company also wishes to announce a proposed private placements of 2,000,000 units @ $0.20 to add to additional working capital relating to this work program. The unit will consist of one common shares and one two year warrant exercisable at $0.30 in the first year and $0.40 in the second year. Finders' fees may be paid as per policy guidelines and the financing is subject to regulatory approvals.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Musil, CFO, Secretary/Director

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

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