Highbank Resources Ltd.

Highbank Resources Ltd.

August 05, 2009 16:30 ET

Highbank Resources Ltd.: Bradley L. Jones of Toronto, Ontario Appointed to the Board & Private Placement of $240,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2009) -


Highbank Resources Ltd. (TSX VENTURE:HBK)(FRANKFURT:V7O) (the "Company") is pleased to announce the appointment of Mr. Bradley L. Jones, CA to the Board of Directors of HBK.

Mr. Jones received a Bachelor of Arts in Business Administration from Bishop's University in Lennoxville, Quebec in 1968. From 1968 - 1971 Mr. Jones attended Montreal's McGill University and was awarded his Chartered Accountant's designation in 1972. He is a member of the Institute of Chartered Accountants of Ontario. Mr. Jones is also a registered Limited Market Dealer with the Ontario Securities Commission. From 1978 - 1990 Mr. Jones was a partner at the accounting firm KPMG with the responsibility for major client engagements and for coordination of the firm's work in the securities industry. From 1990 - 1993 Mr. Jones was a senior member of the Corporate Finance Department of Price Waterhouse Coopers responsible for client advisory services including public and private financings, restructurings, mergers, acquisitions, valuations and related fairness opinions.

In 1996 Mr. Jones was a founder of Stealth Minerals Limited ("TSX.V - SML") and as its President, Chairman and Chief Financial Officer was responsible for the Company's accumulating one of the largest land holdings in British Columbia. He also served as President, Chairman and Chief Financial Officer of Cascadero Copper Corporation ("TSX.V -CCD") since its Initial Public Offering in 2004.

Mr. Jones is presently involved in private practice in the corporate finance field.

Jake Bottay, CEO of Highbank Resources Ltd. welcomes Mr. Jones to the Board and believes that his experience in the areas of acquisitions and financing will be of significant value to the Company.


Highbank Resources Ltd. is pleased to announce that it has arranged a non-brokered private placement to raise up to $240,000 through the issuance of 6,000,000 units at $0.04 per unit. Each unit will consist of one common share and one full two year transferable share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company for a period of two years at a price of $0.10 in the first year and $0.20 per share in the second year.

The gross proceeds of the financing shall be used to maintain the Company's mineral properties, further acquisitions and general working capital.

The Company will pay a finder's fee or commission of 8% in accordance with the policies of the TSX Venture Exchange. The private placement is subject to the approval of the TSX Venture Exchange.


Jake Bottay, CEO/Director

Statements contained in this news release contain certain forward-looking statements and information relating to Highbank's future plans, timing of development or potential expansion or improvements. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, Highbank's ability to raise sufficient capital to fund development, changes in economic conditions or financial markets, changes in prices for products, increases in environmental and other regulatory developments, operational difficulties or inability to obtain permits encountered in connection with our development activities, and changing foreign exchange rates.

Neither the 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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